Edward Foster
Forensic Economics

Welcome to Forensic Economics

My Experience

I’m Edward Foster, a forensic economics consultant specializing in loss analysis in civil litigation. I advise both plaintiff and defense attorneys on cases involving personal injury / wrongful death, employment disputes and lost business profits cases.

While the majority of my clients are based in the Midwest, I do work with clients across the country. I have over 40 years of experience testifying on cases involving economic damages. My knowledge of current data, arguments and theories contribute to my effectiveness in discovery depositions.

I’ve assembled a sampling of past cases to give attorneys an idea of the scope and nature of cases I’ve worked on in my career as a forensic economics expert.

Economic Damages Analysis

 Providing economic and statistical analysis of damages for plaintiffs and defendants in:

  • Personal injury / wrongful death
  • Employment discrimination, wages and hours
  • Loss of business profits

My Expertise


  • 40 years of forensic economics experience
  • Past Chair, Department of Economics, University of Minnesota
  • Ph.D., Economics, from MIT
  • Publications on economic theory and public policy

Litigation Support

Personal injury


  • Loss of past earnings and fringe benefits
  • Present value of loss of future earning capacity and fringe benefits
  • Present value of lost retirement pensions
  • Loss of household services, past and future
  • Present value of future cost for life care plans
  • Loss of future earning capacity for children and students
  • Experienced in analysis of losses under union contracts including construction workers, FELA and related maritime cases, nurses, police, postal workers, teachers, truckers
  • Experienced in analysis of loss of stock options, insurance agents’ earnings, farm earnings, earnings of business owners

Wrongful death


  • Past and present value of future loss of earnings and fringes, retirement pensions, household services, for circumstances listed above under personal injury
  • Deduction for decedent’s personal consumption or maintenance
  • Loss to estate

Employment discrimination, wages and hours


  • Statistical analysis of employment discrimination claims
  • Loss of back pay and front pay, including fringe benefits
  • Loss of present value of future earning capacity
  • Calculations relevant to punitive damages
  • Analysis regarding class actions as well as individual plaintiffs

Loss of business profits


  • Projection of “but for” profits that would have occurred but for claimed tort
  • Where warranted, adjustment of past profits to account for true economic depreciation of business assets
  • Past loss and present value of future loss
  • Calculations relevant to punitive damages

My Services

 Depending upon the nature of the case, my clients receive any number of the following services:

  • preliminary estimates of economic damages
  • reports for use in negotiation and trial
  • expert testimony
  • suggested questions for testimony, if requested
  • evaluation of adverse economic reports
  • help in constructing interrogatories and cross examination of opposing experts

 I do not delegate analysis to assistants, so every client has my full attention and commitment.  I also belong to a national network of experts that I can draw upon for consultation, if needed. 

Contact Me

Edward Foster, Forensic Economics

 4754 Fremont Avenue South
Minneapolis, MN 55419-5207 

Cell  (recommended): (612) 418-5246
Land line: (612) 823-2932
Fax: (612) 823-6236 

Edward Foster Forensic Economics