Because it is exceedingly difficult to measure the value of “companionship” in determining damages for the loss of a companion animal in wrongful death cases, courts and legislatures have struggled to come up with a realistic method of assessment. This article suggests a straightforward “investment approach” to estimate the minimum pecuniary value, including companionship value, that human guardians place on their companion animals. Significantly, the investment approach provides a more accurate assessment of companion animal value, which serves tort system goals of efficient compensation for loss and deterrence of future harm to companion animals.
Full Title Name: Valuing Companion Animals in Wrongful Death Cases: A Survey of Current Court and Legislative Actions and a Suggestion for Valuing Pecuniary Loss of Companionship
Summary:Documents: lralvol9_p215.pdf (135.99 KB)