Doctors and nurses need to make quick, educated decisions to minimize the impact of difficult situations. These decisions are based on the practitioner's years of experience, their education, the science and technology available, and with the assistance of critical analytical and diagnostic equipment.
In re: Apple vs. Motorola, the parties sued each other for patent infringement involving smartphones. Seventh Circuit Judge Richard Posner, sitting by designation, threw out all damage witnesses for both parties on Daubert motions. Then, since both parties lacked damages testimony, he dismissed both cases with prejudice.
A water pipe breaks in a healthcare provider's facility, saturating an MRI control cabinet. The manufacturer is called in and spends $200,000 on attempted repairs. The unit still doesn't work. The manufacturer says the entire unit needs to be replaced, at a cost of $240,000.
Commercial damages occur in breach-of-contract and business-tort cases that result in claims of lost profits or diminished business goodwill or business value. Intellectual-property-infringement cases and antitrust cases also can involve such loss claims. The measurement of damages in these types of cases follows a basic methodology, with some variations in intellectual-property matters. Measurement of damages in securities-fraud cases uses a different approach.
We all have used the Discounted Cash Flow (DCF) method. Many of us would agree that it is generally the best, most comprehensive, theoretically correct valuation model. It also has an empirical reason to be the best, which is that many of us calculate our discount rates using the Ibbotson data in the SBBI annual yearbooks, which are based on publicly traded stock data.