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Civil liability for a lost chance applies to legal cases in which a tortiousaction changes the probabilities of the outcomes that can be obtained by thevictim. A central point in the application of this type of liability is thevaluation of damages. Despite the practical importance of the valuation of lostchances, the legal restrictions that guide it have rarely been discussedexplicitly. In order to discuss these restrictions, we propose an abstractdescription of a lost chance case in which there are multiple possible outcomesand the victim can make a choice that affects these outcomes. Given thisdescription, we propose six conceptual questions to guide the valuation of lostchances. We discuss alternative answers to these questions and present theformulas that derive from them. More specifically, we show that the mainformulas that have been proposed for medical misdiagnosis cases are particularinstances of the alternatives we discuss.

Compensating for the loss of a chance