Analysis Group was retained on behalf of British corporation Hanson Building Materials Limited, one of the defendants in an environmental pollution liability case brought by the city of Emeryville, CA.
Luspatercept, a novel therapy that assists with the production of red blood cells, has been clinically proven to reduce the need for transfusions among patients with myelodysplastic syndromes. However, real-world evidence corroborating these clinical findings is limited.
Mr. Feige specializes in the areas of finance, securities, and financial markets. He has worked on and managed a range of securities and valuation projects in the UK and Europe. Recently, Mr. Feige led an Analysis Group team serving as economic advisors to Steinhoff in support of Steinhoff’s global securities settlement. He also managed teams evaluating shareholder reliance and disclosure materiality and estimating counterfactual share prices in UK Financial Services and Markets Act (FSMA) Section 90A litigation matters. Mr. Feige recently supported experts analyzing the volume of false and spam accounts on Twitter, Twitter’s information security infrastructure, Twitter’s data privacy and compliance with a US Federal Trade Commission (FTC) consent decree, and share price and valuation issues on behalf of Twitter in Twitter v. Musk in which Elon Musk eventually purchased Twitter at his initial offer price. In cases involving alleged market manipulation in the foreign exchange (FX) and IBOR markets, he has analyzed trade data and evaluated alleged manipulation strategies. Mr. Feige worked on USA v. Richard Usher, et al., and the Foreign Exchange Class Antitrust Litigation, analyzing FX trade and chat data, as well as competition issues; preparing experts for testimony at trial; and providing data analyses and consulting support to counsel throughout the projects. He has also worked on a range of international arbitration cases, including valuation, damages, and competition analyses. In addition, he has developed complex valuation models, including discounted cash flow models, and analyzed asset-backed securities, collateralized debt obligations, and other securitized products in support of expert testimony in a number of bankruptcy and damages matters. Mr. Feige has also worked on a number of international arbitrations valuing defaulted sovereign debt, expropriated oil fields, and retail operations. His work has been published in several industry journals.
)Professor Keller is a marketing expert who specializes in the application of consumer psychology, information processing, and choice behavior to complex litigation matters involving claims of consumer confusion, false advertising, trademark infringement, and product liability, among other topics. She studies the application of social marketing principles and behavioral theory in consumer and employee contexts, with a focus on designing and implementing consumer communication programs. Professor Keller’s research has been used to assess consumer behavior and decision making and address how consumers incorporate and respond to information across a variety of settings and industries, including pharmaceuticals, health care, financial services, consumer products, law, employee benefits, and insurance. She regularly collaborates with academic and industry experts to inform government-sponsored research on physician and patient decision making for organizations such as the National Institutes of Health, the National Cancer Institute, and the National Institute on Aging.
Professor Keller has consulted to firms on US Food and Drug Administration (FDA) and Federal Trade Commission (FTC) matters and worked on behalf of several government agencies, including the US Department of the Treasury and the Centers for Disease Control and Prevention (CDC). Her work has been published in several marketing journals, and she has also served on numerous journal editorial review boards. She has earned awards for designing effective communications related to health and savings from the Marketing Science Institute and the National Endowment for Financial Education, among others. Professor Keller’s research on decision making was cited by the Social and Behavioral Sciences Team’s 2015 Annual Report for the White House on the use of behavioral science in the design of federal programs and policies. Professor Keller is a fellow of the Association for Consumer Research.
)Dr. Sosa specializes in the economics of network industries, law and economics, and industrial organization. He has consulted to telecommunications and electric utility clients on a broad range of litigation and regulatory issues, including industry restructuring, technical standardization, operational and financial benchmarking, mergers and acquisitions, market power analysis, and competitive strategy. Dr. Sosa has served as an expert witness before several state and federal agencies, and has supported testifying experts in assessing the economic impacts of several high-profile mergers in the telecommunications industry. In other telecommunications work, Dr. Sosa has analyzed spectrum license acquisitions, wireless technology standards, and voice and data roaming markets. He has also consulted to telecommunications carriers in Latin America, Europe, and Asia on issues related to competition, regulation, and litigation. In addition, Dr. Sosa has performed damages and valuation analyses for clients in a broad range of litigation matters, including consumer class actions, intellectual property, employment, bankruptcy, and commercial contracts. He is a frequent public speaker and has published a number of articles in industry and professional journals, including Public Utilities Fortnightly, the Journal of Legal Studies, and the Michigan Telecommunications and Technology Law Review. He is a member of the American Economic Association and Federal Communications Bar Association. Before joining Analysis Group, he consulted to the California Energy Commission and Telcordia.
)Professor Simonson is an expert in survey methods, behavioral decision making, buyer behavior, consumer evaluation of brands and promotional offers, and marketing management. His research includes experimental studies on the effect of survey methods on likelihood-of-confusion estimates and examines topics such as how consumers make product choices in the digital marketplace, how information gleaned from customer surveys can be misleading, and how consumer decision making impacts marketing practices. Professor Simonson has served as an expert witness in matters involving surveys, trademarks, buyer behavior, the impact of product and service features on buyers’ choices, false advertising, branding, and other marketing issues. He has consulted to clients in a wide range of industries. He is a coauthor of the book Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.
Professor Simonson has also published numerous articles on topics such as the impact of product features, product and service evaluations, trademark confusion, buyer decision making, and survey methods. His research has won many awards, including two O’Dell awards for research that has made a “significant, long-term contribution” to the field of marketing. Professor Simonson is also a lifetime fellow of the Association of Consumer Research for his impact on the scholarly study of consumer behavior. He received an honorary doctorate from the University of Paris II (Sorbonne Universities). He serves on the editorial boards of several leading publications and is the coeditor of Consumer Psychology Review. At Stanford, Professor Simonson has taught M.B.A. courses on marketing management, marketing to businesses, technology marketing, and applied behavioral economics, as well as Ph.D. courses on buyer behavior, surveys, consumer research methods, and behavioral economics.
)Mr. Chen is an expert in structured finance with two decades of experience and product expertise in asset-backed securities and other structured products. These include collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), derivative product companies (DPCs), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), and structured investment vehicles (SIVs). Mr. Chen has served as a testifying expert on issues related to CLO, CDO, and RMBS ratings. He has provided management consulting and litigation support on securities and derivatives matters involving commercial and residential real estate, credit derivatives and total return swaps, and interest rate derivatives and indices, such as the London Interbank Offered Rate (LIBOR) and the transition from LIBOR to the secured overnight financing rate (SOFR). Prior to founding Pronetik in 2010, Mr. Chen was the chief operating officer (COO) and managing director at Centerline Financial LLC. There he monitored synthetic portfolios of multifamily and commercial real estate transactions, drafted and negotiated credit default swap documentation, and served as chief liaison with rating agencies. Earlier in his career, Mr. Chen was vice president of the structured finance-derivatives group at Moody’s Investors Service, where he rated transactions including cash flow and synthetic CDOs, structured notes, credit linked notes, and catastrophe (cat) bonds. He began his career as an associate at Willkie Farr & Gallagher, then joined Sullivan & Cromwell with a practice in corporate law, securities, and a concentration in structured finance. Mr. Chen has appeared on the CBS Evening News and been quoted or cited in media including The Wall Street Journal, Bloomberg News, and Businessweek.
)Professor Tufano’s work spans a broad range of topics in finance, including climate finance and derivatives and structured finance. His research interests include financial innovation, business solutions to climate change, the design of new securities and financial instruments, the organization of financial markets, corporate risk management, the mutual fund industry, and household finance. Professor Tufano has provided expert testimony and reports in several finance- and securities-related matters, including a matter involving retained asset accounts; the Parmalat securities litigation; economic characterizations of securities for tax courts; and the Enron Corporation securities, derivative, and ERISA litigations.
He has written a number of books, and his articles have been published in journals such as The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, and Harvard Business Review. He is an associate editor of the Journal of Investment Management. Professor Tufano’s work has also been featured in a number of media outlets, including The New York Times and the Financial Times. He has received several awards, including the Smith Breeden Prize for the best finance paper published in The Journal of Finance and a leadership award from the Aspen Institute. Prior to re-joining the Harvard Business School faculty, he was dean of the Saïd Business School at the University of Oxford for a decade.
)A co-founder of Analysis Group, Inc., Dr. Stangle is an economist specializing in the fields of industrial organization and finance. He has over 40 years of experience directing large research projects in numerous industries on issues related to antitrust, regulation, bankruptcy, ERISA, and securities matters, and has consulted to firms on various management, strategy, and policy issues. Dr. Stangle has provided testimony on class certification, market definition, entry conditions, competitive effects, securities valuation, and damages. He is a trustee emeritus of Bates College and a former outside member of the board of directors of Wellington Trust Company, NA, a money management firm. Dr. Stangle also occasionally serves on the boards of startup firms, and was formerly a director of a mutual fund and a venture capital firm.
)Arnold Barnett's research specialty is applied mathematical modeling generally focused on problems of health and safety. His early work on homicide was presented to President Ford at the White House, and his analysis of US casualties in Vietnam was, among other things, the subject of a column by William F. Buckley. He has received the President's Award and the Expository Writing Award from INFORMS (1996 and 2001, respectively) and the President's Citation from the Flight Safety Foundation (2002) for “truly outstanding contributions on behalf of safety.” He has written op-ed pieces for The New York Times, The Wall Street Journal, The Boston Globe, and USA Today. Ten times he has been honored for outstanding teaching by students at MIT's Sloan School of Management; in 1992, Business Week described him as the “best” Sloan School faculty member. Dr. Barnett has testified in many legal proceedings as a statistical expert and an aviation-safety expert.
)Professor Kiesling is an expert in energy and regulatory economics, energy history, energy market design, and technology in the development of energy markets, with a particular interest in the electricity industry. Her research focuses on electricity policy and market design issues related to regulation and technological change; the economics of smart grid technologies; and the interaction of market design and innovation in the development of retail energy markets, products, and services. Professor Kiesling has provided expert testimony in proceedings before the Federal Energy Regulatory Commission (FERC), the California Public Utilities Commission, the Illinois Commerce Commission, and the New York Public Service Commission. She teaches at economics workshops for regulators, and lectures to academic, industrial, and regulatory groups about regulatory policy, institutional change, and the economic analysis of electric power market design. Professor Kiesling is the author of two books and numerous articles, book chapters, policy studies, and public interest comments. She serves on the Electricity Advisory Committee for the US Department of Energy, as well as the Academic Advisory Council for the UK Institute of Economic Affairs. Previously, Professor Kiesling was a visiting associate professor at Carnegie Mellon University and held positions in the economics departments of Purdue University and Northwestern University.
)Mr. Fink specializes in the application of economic analyses to complex business litigation matters. He has provided expert support in a broad range of cases, including antitrust matters, intellectual property (IP) cases, general business litigation, and regulatory proceedings. Mr. Fink has experience supporting experts across a variety of industries, including pharmaceuticals, high tech, agriculture, and media and entertainment. His case work has included antitrust claims against brand and generic drug manufacturers involving allegations of reverse-payment settlements, IP disputes involving biologic and biosimilar pharmaceutical manufacturers, and restraint of trade allegations involving exclusive licensing in the cosmetics industry. He has assisted attorneys, academic affiliates, and industry experts in all phases of complex litigation, including pretrial discovery, case strategy, expert reports, deposition support, and trial preparation.
)Professor Cohen’s expertise lies in the intersection of data science and operations management. His research has examined the retail, ridesharing, airline, sustainability, cloud computing, online advertising, peer-to-peer lending, real estate, and health care industries, and he has collaborated with many companies, including Google AI, Microsoft, Meta, Uber, Waze, Spotify, and L’Oréal. Professor Cohen has been retained as an expert witness and testified at deposition in cases involving user data, pricing practices, and trade secrets. He frequently consults to corporations, retailers, and startups on topics related to data-driven pricing, retail management, AI technologies, and data science. As an advisory board member of several startups, Professor Cohen has helped develop and deploy solutions to business problems using techniques in machine learning, optimization, stochastic modeling, econometrics, and field experiments. He was listed in Poets&Quants’ 40-Under-40 Best MBA Professors and RETHINK Retail’s Top Retail Influencers and was awarded Management Science’s Best Paper Award in Operations and Supply Chain Management. He has coauthored several books, as well as numerous academic papers in leading journals. Professor Cohen serves as the chief AI officer of ELNA Medical, the scientific director of the nonprofit MyOpenCourt, and a scientific advisor in AI at IVADO Labs. Before joining the faculty at McGill University, he was an assistant professor of technology, operations, and statistics at the NYU Stern School of Business and a research scientist at Google AI.
)Ms. Mulhern specializes in the application of economic principles to issues arising in complex business litigation. She has served as an expert witness on damages issues in commercial litigation matters, including intellectual property (IP) and breach of contract cases, providing testimony in various district and state courts. Ms. Mulhern’s intellectual property damages experience includes cases involving allegations of patent, copyright, and trademark infringement, as well as misappropriation of trade secrets; she has also provided expert testimony on these issues in Section 337 cases at the International Trade Commission (ITC). Before the ITC, she has testified on a variety of economic issues, such as domestic industry, remedy, bonding, commercial success, and public interest. Ms. Mulhern’s litigation experience spans a variety of industries, including pharmaceuticals, medical devices, automotive, entertainment, consumer products, computer hardware and software, semiconductors, and telecommunications. In non-litigation matters, she has assisted clients in valuing intellectual property and other business assets in the context of strategic alliances and joint ventures. Ms. Mulhern has been recognized as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe. She is a member of the American Economic Association and the Licensing Executives Society, and is a frequent writer and speaker on issues related to intellectual property valuation and damages assessment.
)Professor Skrzypacz is an expert in industrial organization and market design. His research centers on microeconomic theory and its applications, including collusion, auctions, pricing, and bargaining. In addition to his academic research, Professor Skrzypacz consults on auction strategy and competition issues, and has served as an academic visitor at Yahoo! Research. He has counseled bidders in wireless spectrum auctions in the United States, Canada, the Netherlands, Switzerland, Austria, and Sweden. He has also advised internet companies on design and competition in online auctions, and communication companies on regulation issues.
Professor Skrzypacz has published a number of articles on topics such as using spectrum auctions to enhance competition in wireless services, private monitoring and communication in cartels, and information disclosure. His most recent papers have focused on auction design, dynamic games, and collusion in markets. He is an associate editor of The RAND Journal of Economics and American Economic Review: Insights, and a former coeditor of American Economic Review. Additionally, Professor Skrzypacz is a fellow of the Econometric Society, an economic theory fellow of the Society for the Advancement of Economic Theory, and a senior fellow of the Rimini Centre for Economic Analysis.
)Professor Chevalier is an expert in industrial organization, finance, and competitive business strategy. She has provided expert testimony and been deposed in several major antitrust matters, including State of New York v. Intel Corporation, in which she assessed the business strategies of competitors in the semiconductor industry and evaluated market outcomes. An affiliate with Analysis Group, Professor Chevalier, supported by Analysis Group teams, recently served as an expert in litigation involving online search databases, and in several matters involving entertainment industry issues related to rights, prices, and competition. She has also assisted a number of major technology firms with analyses of competition and antitrust issues. Professor Chevalier's academic research focuses on the economics of electronic commerce, the interaction between firm capital structure and product market competition, and price seasonality and cyclicality. Her research has been featured in Slate magazine and on National Public Radio. Professor Chevalier is also an elected member of the American Academy of Arts and Sciences. She is a former member of the American Economic Association's (AEA) Executive Committee and a former board member of the organization's Committee on the Status of Women in the Economics Profession. In 1999, she won the first biennial Elaine Bennett prize, given by the AEA in recognition of research by a woman in any area of economics. Professor Chevalier is an active author. She has published articles in the American Economic Review; Journal of Industrial Economics; Journal of Business; Quarterly Journal of Economics; Journal of Finance; Journal of Law, Economics, and Organization; and Journal of Political Economy. She is a former coeditor of the Rand Journal of Economics and has served as a coeditor of the American Economic Review, editor of the B.E. Journal of Economic and Policy Analysis, advisory editor of Quantitative Marketing and Economics, and associate editor of numerous journals.
)Dr. Frot is an economist with specialized expertise in applying quantitative analyses to competition, litigation, regulatory, and business intelligence issues. He advises firms in a wide range of industries, providing economic and econometric expertise on matters related to mergers, market concentrations, cartel investigations, and damages.
Over the years, he has performed numerous economic and econometric analyses in Phase I and Phase II mergers before the French Competition Authority and the European Commission, including Veolia Transport/Transdev, Jardiland/InVivo, Castel/Patriarche, Fnac/Nature & Découvertes, d’aucy/Triskalia, Lactalis/Nuova Castelli, Lactalis/Leerdammer, CMA CGM / Bolloré Logistics, Canal+/OCS, and Suez/Veolia. He has led case teams and performed economic analyses in several prominent horizontal and vertical cartel cases, as well as estimated damages in antitrust litigation and intellectual property matters. He has also assisted companies in modeling and implementing changes to pricing behavior.
His reports have been presented to the European Commission, the French Competition Authority, the Court of Appeals, the Conseil d’État (France’s highest administrative court), the Tribunal of Commerce of Paris, and regulators in the telecommunications, energy, transportation, and gambling sectors. Dr. Frot has published a number of articles in peer-reviewed journals and regularly speaks at international competition law and policy conferences.
)Professor Lambrecht is an expert in digital marketing and consumer behavior. Her research focuses on marketing decisions in digital environments – emphasizing online targeting, advertising, promotion, and pricing. In the context of digital marketing, Professor Lambrecht has examined how firms can use retargeting to reach out to consumers; how firms can advertise on Twitter to early trend propagators; the role of position effects on information displayed to consumers online; and, more broadly, the value of big data for firms. In her online pricing work, Professor Lambrecht examines the economics of pricing online services and online promotions, such as daily deals or cashback promotions.
Recently published research explores the role of economics in the context of apparent algorithmic biases. Currently, Professor Lambrecht is studying the value of top positions in organic search results and how users contribute to crowdfunding campaigns. In an additional research stream on price discrimination in service industries, she has focused on the use of multi-part tariffs by service providers such as telecom companies.
Professor Lambrecht has published a number of articles in leading academic journals, such as Marketing Science, Management Science, and the Journal of Marketing Research. Among other awards, she has received the American Marketing Association's Paul E. Green Award and has recently been selected as the winner of the prestigious William F. O'Dell Award. In addition, Professor Lambrecht has held several editorial roles at prominent academic publications.
)Professor LaRue has been recognized as an expert in federal and international taxation, financial and cost accounting, and economic and financial analysis in several cases before the US Tax Court, US District Courts, and the US Court of Federal Claims. He has provided invited testimony on tax policy issues before the US House of Representatives Ways and Means Committee and the US Department of the Treasury. As a faculty member at the University of Virginia for 25 years, Professor LaRue taught undergraduate and graduate courses on financial accounting, federal taxation, economic analysis, and international finance and business at the McIntire School of Commerce, and served as the director of its graduate accounting program. He also developed and taught in-house continuing education courses on federal taxation for KPMG; PwC; Ernst & Young; Deloitte Touche; and the NYU School of Law in connection with the Internal Revenue Service’s (IRS’s) Office of Chief Counsel; among others. Professor LaRue has authored articles on various aspects of taxation that have appeared in publications including NYU’s Tax Law Review and the American Bar Association’s The Tax Lawyer. He has chaired and served on committees and task forces for numerous organizations, including the Tax Section of the American Institute of Certified Public Accountants (AICPA), the American Taxation Association, the American Accounting Association, and others. In recognition for his work as an instructor, researcher, and expert, Professor LaRue has won over a dozen teaching awards, including the Virginia Society of Certified Public Accountants’ Outstanding Educator Award and the Ernst & Young Tax Literature Award, as well as commendations from both the US Department of Justice’s Fraud Section and the Criminal Investigation Division of the IRS.
)Mr. Starfield specializes in the direction and management of large-scale cases involving complex economic and financial issues. For more than two decades, he has conducted economic analysis and managed case teams in support of leading academic experts in a range of cases, notably a number of matters involving complex securities, including residential mortgage-backed securities, collateralized debt obligations, and credit default swaps. In matters related to the Lehman bankruptcy, he supported multiple experts in assignments related to structured financial products, secured financing, collateral management, derivatives risk exposure, complex accounting topics, and the causes of Lehman's failure. He also managed case teams in the Enron-related litigations involving some of the major settlements emerging from the Enron bankruptcy. In addition, he has worked on a broad range of cases in the investment management area, including numerous matters involving alleged violations of Sections 10b-5 and 11, in which he provided management of many dimensions of financial and economic analysis, including market efficiency, loss causation and materiality, and damages. Mr. Starfield also worked with mutual fund companies, boards, and regulators in some of the most prominent market timing matters. He managed all aspects of financial and economic analysis in a fraudulent conveyance litigation involving one of the largest bank failures in US history, including identification and support of numerous academic expert witnesses who testified on the economics of the banking industry; conditions in real estate markets; the management, operation, and regulation of nationally chartered commercial banks and bank holding companies; and factors that led to bank failures.
He has conducted analyses and served as an expert in numerous matters involving commercial disputes, and also has significant experience in the valuation of large, closely held companies.
In his role as an expert, Mr. Starfield has developed economic and financial models; prepared testimony; developed, presented, and reviewed pretrial discovery; and evaluated the economic and financial analyses of opposing experts. He has provided support to successful testimony on numerous topics involving economics in both bench and jury trials. Outside of litigation, he has assisted clients in a variety of industries with development of business plans and financial projections, frequently involving the use of complex integrated financial models. Formerly a senior manager in the Dispute Analysis and Corporate Recovery Services group of Price Waterhouse, Mr. Starfield is a chartered accountant of South Africa, a member of the South African Institute of Chartered Accountants, and a member of the Association of Chartered Certified Accountants in the United Kingdom.
)Mr. Contino specializes in the analysis and valuation of residential mortgage loans and securities, to both market participants and in complex litigation. His expertise extends to the valuation of niche security and loan products (e.g. residuals, resecuritizations, SF rental securities, timeshares, second liens). Clients have included broker-dealers, other investment advisors, bankruptcy experts, REITs, insurance companies, pension funds, and US government-sponsored enterprises, among others. Other government experience includes providing quantitative support to a sale advisor to the US Department of Housing and Urban Development, the Small Business Administration, and the Federal Deposit Insurance Corporation. He provided similar support during the development of the Mortgage Purchase Program for the Federal Home Loan Banks of Cincinnati, Indianapolis, and Seattle. Mr. Contino took two leaves of absence from Sperlinga Advisory to serve as a mortgage hedge fund portfolio manager, with one of those roles overlapping the mortgage market crisis.
As a testifying expert, Mr. Contino has written reports and provided testimony in arbitration as well as in both federal and state court. He served as a consulting expert in a series of cases for the US Department of Labor – Office of the Solicitor, involving mortgage securities and ERISA. His litigation-related experience spans the residential mortgage industry, with disputes involving valuation, suitability, market practices, and intellectual property. The valuation cases have included the spectrum of mortgage loan credit (agency, prime, Alt-A, subprime) and the spectrum of securitization structures (senior and subordinate securities, complex resecuritizations, residuals, and both performing and non-performing whole loans).
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Ms. O’Laughlin works with clients on both litigation and non-litigation matters. In the litigation context, she has served as an expert witness and testified at trial, and conducts economic analyses and manages case teams in support of academic and industry experts in a broad range of matters throughout the US and Canada. She has assisted clients in all phases of the litigation process, and has supported expert witnesses in the preparation of reports and other testimony in matters involving merger reviews, antitrust litigation, competition policy, data privacy, labor relations, false advertising, finance, valuation, trademark, intellectual property (IP), and patent infringement. Ms. O’Laughlin also has experience with allegations of exclusionary conduct in various industries, including agricultural products, consumer packaged goods, finance, retail, telecommunications, and technology. She has developed, administered, and analyzed surveys in trademark, IP, antitrust, consumer protection, data privacy, and false advertising matters. In the non-litigation context, Ms. O’Laughlin uses complex research methods and applies innovative analytical approaches to provide new insights on the competitive and market challenges that clients face in managing and expanding their businesses. She publishes regularly on issues related to marketing, economics, litigation, and public policy. Ms. O’Laughlin is bilingual in both of the official languages of Canada, French and English.
)Professor Snow is an expert in technology and operations, innovation management, and service management, with a specialization in automotive, health care, aerospace, and growth-stage companies. His research addresses two areas: the complex relationship between new and old technologies during technology transitions; and service operations, particularly the building of theoretical microfoundations to help define the field, and empirical research on operational productivity. Professor Snow has testified in antitrust and competition cases as well as commercial disputes. He has taught at Harvard Business School, The Wharton School of the University of Pennsylvania, Tuck School of Business at Dartmouth College, and BYU Marriott School of Business; presented at a variety of management, innovation, and technology conferences; and written numerous cases for academic use. In 2014, he and coauthor Lamar Pierce received the Olin Award for Research That Transforms Business. Professor Snow is an executive committee member of the Harvard Business School Institutions and Innovation Conference, and a former board member of the Council of Supply Chain Management Professionals.
)Professor Srinivasan focuses his research in the areas of marketing, advertising, e-commerce, technology, and innovation. He specializes in applying structured economic models to unstructured data by merging the tools of econometrics and data science (including machine learning techniques). Specific topics he has consulted and published on include the sharing economy, competitive dynamics and pricing in two-sided platforms; machine learning algorithms and their inherent biases; and health outcomes data. Professor Srinivasan has consulted to several Fortune 500 companies. He has founded two startups and served on the boards of both startups and a private equity firm. He has served on the editorial boards of the Journal of Marketing Research, Management Science, Marketing Science, and Quantitative Marketing and Economics. He was a coeditor-in-chief of the Marketing Science special issue on emerging markets. Professor Srinivasan is a former president of the INFORMS Society for Marketing Science. He has been granted several patents on dynamic business models on the internet and has worked closely with patent examiners. His patents have been licensed by a Fortune 3 firm, and he has a deep knowledge of the securing and infringement of patents.
)Mr. Gold has more than 20 years of experience applying economics, finance, and statistics to litigation matters. He has been involved in all phases of the litigation process, from pretrial discovery to expert report and trial preparation. Mr. Gold has led teams supporting experts and assisted counsel on a variety of securities, commercial litigation, and intellectual property matters.
Mr. Gold has extensive experience consulting on securities matters, including analyzing market efficiency, estimating damages, conducting event studies, and analyzing potential settlements. He has also submitted expert declarations in civil and criminal securities fraud matters. His experience includes cases involving securities and financial derivatives such as swaps, structured notes, mortgage-backed securities, convertible preferred stock, and options. Mr. Gold has worked on antitrust matters involving the trading of securities, and he has conducted assessments of class certification in cases involving securities fraud, product liability, and false advertising, including analyzing whether liability or damages can be assessed using common proof. His work spans industries such as financial services, legal services, telecommunications, entertainment, health care, and oil and gas. He is the coauthor of “Federal Securities Acts and Areas of Expert Analysis” in the Litigation Services Handbook.
)Professor Mayzlin’s research focuses on how businesses manage social interactions, advertising, and communication strategies, including word of mouth and social media. She has filed expert reports and testified at deposition in marketing-related litigation matters, including testimony in a lawsuit involving the way a major e-commerce company aggregated product reviews. In another case, she analyzed allegations that the plaintiff’s competitor had posted fake negative reviews on its Yelp page. Professor Mayzlin has written numerous scholarly articles on social media management, the manipulation of online reviews, measuring online word of mouth, and online influencers. She is also an associate editor at Marketing Science. Her work has earned several awards, including the INFORMS Society for Marketing Science Long Term Impact Award, and been cited more than 15,000 times on Google Scholar. A frequent speaker, Professor Mayzlin has provided keynote addresses at academic conferences worldwide, including the Advertising and Consumer Psychology Conference and the Interactive Marketing Research Conference. She has co-chaired and presented at the Summer Institute in Competitive Strategy at the Haas School of Business at the University of California, Berkeley. Prior to joining the USC Marshall School, where she teaches undergraduate, M.B.A., and doctoral courses, Professor Mayzlin served on the faculty of the Yale School of Management.
)Professor Dranove's research focuses on problems in industrial organization and business strategy, with an emphasis on the health care industry. He has published nearly 100 research articles and book chapters, and is the author of six books, including The Economic Evolution of American Healthcare, Code Red, and the textbook The Economics of Strategy, which is used by leading business schools around the world. Professor Dranove regularly consults with leading health care organizations in the public and private sectors. He also has two decades of experience performing and testifying about economic analyses in both litigation and regulatory actions. Most recently, he testified on competition issues for the US Department of Justice in the agency’s effort to block a proposed merger of two commercial health insurers. Professor Dranove concluded that the proposed transaction likely would result in higher prices and less innovation. He also has served on the executive committee and board of directors of the Health Care Cost Institute. Professor Dranove is on the review board of numerous prominent industry journals; he is the editor of the International Journal of Health Economics and Management and an associate editor of the RAND Journal of Economics. He is an elected member of the National Academy of Medicine.
)Ms. Okie has conducted economic and financial analyses and managed case teams in support of academic and industry experts across engagements in securities and antitrust litigation, regulatory investigations, bankruptcy matters, arbitrations, and general commercial litigation. Her experience spans a wide variety of sectors and has included fact and expert discovery, class certification, liability and damages, and trial. Her antitrust work includes civil and criminal litigation surrounding a variety of alleged anticompetitive conduct and analyses of competition issues across a range of industries. Ms. Okie has worked on a number of matters at the intersection of antitrust and financial services, including alleged anticompetitive conduct related to foreign exchange rates, municipal bond markets, and financial product trading. She has assessed alleged misrepresentations and omissions in the underwriting of securities, including issues surrounding loss causation, falsity, materiality, and buy-side and sell-side due diligence; analyzed valuation issues in mergers and acquisitions; and evaluated REIT market corporate governance and industry dynamics. In the energy sector, Ms. Okie has estimated damages associated with failed projects; valued rights-of-way; and supported clients involved in market manipulation investigations by the US Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Federal Energy Regulatory Commission (FERC), and state agencies. She has evaluated trading data, market power, and other competitive issues in oil, natural gas, propane, and electricity markets. Ms. Okie has published on many energy; environmental; and environmental, social, and governance (ESG) topics and authored white papers and reports for foundations, regional transmission organizations, and industry organizations. Ms. Okie is vice-chair of the Insurance and Financial Services Committee of the American Bar Association’s Antitrust Law Section.
)Mr. Conway is an expert on complex technical accounting, Sarbanes-Oxley compliance, and corporate governance, with 40 years of experience in public accounting. His litigation experience includes preparing expert witness reports, assisting counsel with case strategy, and testimony. Prior to his consulting career, Mr. Conway was the regional associate director of the Public Company Accounting Oversight Board (PCAOB) in Orange County and Los Angeles. At the PCAOB, he inspected audits of the Big Four firms, focusing on revenue recognition, business combination accounting, the valuation of identifiable intangible assets, and impairment testing of goodwill and identifiable intangibles. Mr. Conway has also been the senior professional practice director at CNM, a technical accounting advisory firm, and an audit partner at KPMG, where he served for 26 years. He is the author of The Truth About Public Accounting: Understanding and Managing the Risks the Auditors Bring to the Audit, and he has led a number of corporate seminars on accounting and auditing issues, including at the Stanford Graduate School of Business.
)Dr. Strombom is an expert in applied microeconomics, finance, and quantitative and statistical analysis. He provides assistance to attorneys in all phases of pretrial and trial practice, prepares economic and financial models, and provides expert testimony in litigation and public policy matters. Dr. Strombom has conducted assessments of class certification, liability, and damages issues in cases involving antitrust, breach of contract, ERISA, false advertising, intellectual property, labor and employment, product liability, securities, and general commercial disputes.
Prior to joining Analysis Group, Dr. Strombom was Executive Vice President of a middle-market merger and acquisition firm, where he managed a financial and market research organization that provided valuation and consulting services to over 500 privately held companies annually. Previously, he was Consulting Manager at Price Waterhouse, where he provided litigation support and value enhancement consulting services, and Senior Financial Analyst at the Tribune Company, where he evaluated capital projects and acquisition candidates.
)Mr. Lawrence is an expert in due diligence, investment practices, and corporate governance. He has testified and been retained as an expert in high-profile securities lawsuits and advised the US Securities and Exchange Commission (SEC) on due diligence and investment practices. In his role at Pacific Financial Group, Mr. Lawrence oversees a portfolio of private equity, marketable securities, and alternative investments. He teaches due diligence at Southern Methodist University, where he founded the Center for Advanced Due Diligence Studies. Mr. Lawrence has published extensively in the field and is the author of Due Diligence in Business Transactions, a leading text in the field for more than 20 years; Due Diligence: Investigation, Reliance & Verification – Cases, Guidance and Contexts; Due Diligence: Law, Standards and Practice; and Due Diligence, a Scholarly Study. His work has been cited by the US District Court for the Southern District of New York, in filings before the US Supreme Court, and in other publications. He has served on boards of directors and on the audit, management, compensation, and executive committees of public and private companies. Prior to his academic and investment career, Mr. Lawrence was a managing partner of an international law firm, where he founded and taught the firm’s due diligence training program, managed its investment fund, and chaired the global technology, media, and telecommunications practice. He has been admitted to the state bars of New York, the District of Columbia, and Texas.
)Professor Hart is a leading expert in contract theory, the theory of the firm, and corporate finance. In 2016, he and Professor Bengt Holmström were awarded the Nobel Prize in Economics for their work in contract theory. Professor Hart’s research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. His recent work involves determining how parties can write better contracts, as well as how a new model of corporate governance can better incorporate the importance shareholders place on nonfinancial criteria.
Professor Hart has consulted to businesses and government entities, and provided expert testimony on contract and governance disputes in which he has evaluated the business purpose and economic substance of special purpose entities. As an expert on behalf of Qualcomm in Apple v. Qualcomm, he provided guidance on the optimal structure of contracts, and why and when they should be enforced. His book Firms, Contracts, and Financial Structure is a leading work in the fields of contract theory and corporate finance. He has published widely in peer-reviewed journals and contributed to the Financial Times and The Wall Street Journal. Professor Hart is a member of the IGM (Initiative on Global Markets) Economics Experts Panel of The University of Chicago Booth School of Business, and is affiliated with the Program on Corporate Governance at Harvard Law School’s John M. Olin Center for Law, Economics, and Business. He is a past president of the American Law and Economics Association.
)Mr. Gorin has more than 30 years of experience as a strategy and economic consultant with deep expertise in the health care, chemicals, oil and gas, agriculture, and automotive industries. He leads large, complex engagements in antitrust matters, health care strategy, and large commercial litigation cases, providing direct leadership at every stage of engagement, from strategy to implementation. In addition to his own expert work, Mr. Gorin regularly identifies and collaborates with leading academic and industry affiliates. Mr. Gorin's unique experience across industries and practices allows him to leverage his complementary strategic, economic, and specific subject matter expertise to provide pragmatic solutions to address clients' complex business and legal challenges.
Mr. Gorin's work in antitrust and competition cases has included the analysis of alleged anticompetitive behavior and the evaluation of the competitive impact of mergers and acquisitions in strategic, regulatory, and litigation contexts. In these cases, Mr. Gorin has defined and analyzed relevant markets, assessed potential or past competitive impact, simulated the outcome of mergers and acquisitions in the marketplace, and evaluated potential antitrust remedies. As a leading expert in Analysis Group's Health Care Strategy practice, Mr. Gorin works with diagnostic innovators and manufacturers to develop acquisition and growth strategies, create plans to achieve favorable coverage and reimbursement in the United States and international markets, and design and implement evidence development strategies to support coverage and reimbursement goals. In commercial litigation cases, he regularly leads teams and experts to support clients in matters related to liability and damages, such as valuation, economic harm, accounting, corporate governance, and organizational performance and culture.
Prior to joining Analysis Group, Mr. Gorin was a partner in the worldwide Energy, Chemicals, and Pharmaceuticals Group at Booz, Allen & Hamilton, Inc.
)Professor Crémer is an expert in industrial organization with a particular focus on competition, contract theory, planning theory, the economics of organization, and the theory of auctions. His recent research examines these issues with applications to the economics of two-sided platforms, industries with network effects, and the Internet, where he examines the effect of new market entrants on incumbent firms, among other competitive issues. Professor Crémer has testified before the European Commission in relation to the AOL-Time Warner merger, and has consulted to clients including Microsoft, Google, Sucre Saint Louis, Intel, GTE, and Time Warner. He has published extensively on a variety of topics, including the consequences of mergers on competition and policy, the costs and benefits of vertical integration, and the value of switching costs. He is the coauthor of the book, Models of the Oil Market, and has contributed to various other books, including the chapter “Switching Costs and Network Effects in Competition Policy” in Recent Advances in The Analysis of Competition Policy and Regulation. Professor Crémer has served in editorial positions for International Journal of Industrial Organization, European Economic Review, and The RAND Journal of Economics, and his work has been published in peer-reviewed journals such as American Economic Review, The Quarterly Journal of Economics, and Journal of Industrial Economics. Professor Crémer is a Fellow of the European Economic Association; a Fellow and member of the Council of the Econometric Society; and a Fellow of the Society for the Advancement of Economic Theory. From 2011 to 2014, he was the Scientific Director at the Toulouse School of Economics (TSE). Prior to that, he served as the Director of Institut d'Economie Industrielle (IDEI), a research institute of the Toulouse School of Economics focused on partnerships with government and industry. He also manages the Jean-Jacques Laffont Digital Chair at the TSE and is a member of the French Digital Council (Conseil National du Numérique).
)Ms. Pike applies her expertise in health economics, statistics, and large administrative claims and transaction-level databases to help resolve complex litigation and strategic business questions in a variety of contexts, including matters involving the False Claims Act, Anti-Kickback Statute, and Controlled Substance Act. She has performed economic analyses and presented findings to US Attorney's Office investigators in numerous cases involving allegations of off-label promotion, kickback, and pricing issues. Ms. Pike also applies economic theory and empirical estimation methods in a variety of product liability, breach of contract, intellectual property, and transfer-pricing engagements. She has extensive experience in developing flexible damages models for real-time use in high-stakes negotiations.
Ms. Pike has been instrumental in developing bespoke suspicious order monitoring programs; building internal analytical programs to assess the risk of theft or diversion; and assisting manufacturers, wholesalers, and pharmacies in responding to government investigations and/or lawsuits related to controlled substance distribution and dispensing. She has managed a range of health care cases involving analysis of future lost profits; economic analysis of physician payment structures under capitation; studies of the cost effectiveness, budget impacts, and direct and indirect costs of illness associated with a variety of diseases; and pricing analyses for large multinational corporations across numerous industries. Ms. Pike has published numerous articles on related topics in health care economics and clinical journals.
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Professor Miller is an economist whose research interests include public finance, labor economics, health economics, and industrial organization. Her research has covered Medicaid expansion, workplace competition and labor supply, financing of employment-based health insurance plans, and effects of COVID-19 shutdowns, among other topics. She has received research funding from the US National Science Foundation (NSF), National Institutes of Health (NIH), Agency for Healthcare Research and Quality (AHRQ), and Department of Defense (DoD). Professor Miller is an associate editor of The Leadership Quarterly and the ILR Review, and has published articles in peer-reviewed journals, such as the Journal of Labor Economics, the Journal of Health Economics, The Journal of Human Resources, and The Review of Economic Studies. She served two terms on the board of the American Economic Association’s Committee on the Status of Women in the Economics Profession. Professor Miller is a recipient of the Excellence in Reviewing Certificate from Labour Economics, the IZA Young Labor Economist Award, and the WHITE Award for Best Paper on Health IT and Economics. Professor Miller has also worked as an economist with the RAND Corporation.
)Professor Statman’s research focuses on behavioral finance. Specifically, he endeavors to understand how investors and managers make financial decisions, and how these decisions are reflected in financial markets. The questions he addresses in his research include what investors want and how to balance those wants; investors’ cognitive and emotional shortcuts, and how to overcome related errors; how these wants, shortcuts, and errors are reflected in saving, spending, and portfolio construction choices; and how these choices are reflected in asset pricing and market efficiency. He has consulted to several investment companies and given presentations on his work worldwide.
Professor Statman’s most recent book is Behavioral Finance: The Second Generation. His research has been published in The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, the Journal of Financial and Quantitative Analysis, Financial Analysts Journal, and The Journal of Portfolio Management, among other publications. He is an associate editor of the Journal of Behavioral Finance and the Journal of Investment Management, and also serves on the advisory board of several publications. His research has received several awards – including two Bernstein Fabozzi/Jacobs Levy Awards, the Matthew R. McArthur Industry Pioneer Award, and the William F. Sharpe Best Paper Award – and has been supported by the National Science Foundation, the CFA Institute Research Foundation, and the Investment Management Consultants Association.
)Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
)Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
)Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
)Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
)Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
)Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
)Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
)Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
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Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
)Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
)Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
)Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
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Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
)Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
)Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust. In all of these areas, he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA case work includes supporting experts in dozens of ERISA litigations, including at least six cases in which our clients prevailed at trial. He has also served as an expert in ERISA class action litigations. Dr. Heavner has written and presented on a variety of topics related to investments and retirement plans, including the article “Expert Analysis of Plan Losses in ERISA Class Action Litigation.” His securities litigation experience includes directing the support of expert witnesses in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities case work includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year. Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
)Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
)Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
)Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
)Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
)Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
)Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
)Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
)Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
)Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
)Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
)Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
)Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
)Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
)Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
)Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
)Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
)Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
)Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
)Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.
)Mr. Feige specializes in the areas of finance, securities, and financial markets. He has worked on and managed a range of securities and valuation projects in the UK and Europe. Recently, Mr. Feige led an Analysis Group team serving as economic advisors to Steinhoff in support of Steinhoff’s global securities settlement. He also managed teams evaluating shareholder reliance and disclosure materiality and estimating counterfactual share prices in UK Financial Services and Markets Act (FSMA) Section 90A litigation matters. Mr. Feige recently supported experts analyzing the volume of false and spam accounts on Twitter, Twitter’s information security infrastructure, Twitter’s data privacy and compliance with a US Federal Trade Commission (FTC) consent decree, and share price and valuation issues on behalf of Twitter in Twitter v. Musk in which Elon Musk eventually purchased Twitter at his initial offer price. In cases involving alleged market manipulation in the foreign exchange (FX) and IBOR markets, he has analyzed trade data and evaluated alleged manipulation strategies. Mr. Feige worked on USA v. Richard Usher, et al., and the Foreign Exchange Class Antitrust Litigation, analyzing FX trade and chat data, as well as competition issues; preparing experts for testimony at trial; and providing data analyses and consulting support to counsel throughout the projects. He has also worked on a range of international arbitration cases, including valuation, damages, and competition analyses. In addition, he has developed complex valuation models, including discounted cash flow models, and analyzed asset-backed securities, collateralized debt obligations, and other securitized products in support of expert testimony in a number of bankruptcy and damages matters. Mr. Feige has also worked on a number of international arbitrations valuing defaulted sovereign debt, expropriated oil fields, and retail operations. His work has been published in several industry journals.
Professor Keller is a marketing expert who specializes in the application of consumer psychology, information processing, and choice behavior to complex litigation matters involving claims of consumer confusion, false advertising, trademark infringement, and product liability, among other topics. She studies the application of social marketing principles and behavioral theory in consumer and employee contexts, with a focus on designing and implementing consumer communication programs. Professor Keller’s research has been used to assess consumer behavior and decision making and address how consumers incorporate and respond to information across a variety of settings and industries, including pharmaceuticals, health care, financial services, consumer products, law, employee benefits, and insurance. She regularly collaborates with academic and industry experts to inform government-sponsored research on physician and patient decision making for organizations such as the National Institutes of Health, the National Cancer Institute, and the National Institute on Aging.
Professor Keller has consulted to firms on US Food and Drug Administration (FDA) and Federal Trade Commission (FTC) matters and worked on behalf of several government agencies, including the US Department of the Treasury and the Centers for Disease Control and Prevention (CDC). Her work has been published in several marketing journals, and she has also served on numerous journal editorial review boards. She has earned awards for designing effective communications related to health and savings from the Marketing Science Institute and the National Endowment for Financial Education, among others. Professor Keller’s research on decision making was cited by the Social and Behavioral Sciences Team’s 2015 Annual Report for the White House on the use of behavioral science in the design of federal programs and policies. Professor Keller is a fellow of the Association for Consumer Research.
Dr. Sosa specializes in the economics of network industries, law and economics, and industrial organization. He has consulted to telecommunications and electric utility clients on a broad range of litigation and regulatory issues, including industry restructuring, technical standardization, operational and financial benchmarking, mergers and acquisitions, market power analysis, and competitive strategy. Dr. Sosa has served as an expert witness before several state and federal agencies, and has supported testifying experts in assessing the economic impacts of several high-profile mergers in the telecommunications industry. In other telecommunications work, Dr. Sosa has analyzed spectrum license acquisitions, wireless technology standards, and voice and data roaming markets. He has also consulted to telecommunications carriers in Latin America, Europe, and Asia on issues related to competition, regulation, and litigation. In addition, Dr. Sosa has performed damages and valuation analyses for clients in a broad range of litigation matters, including consumer class actions, intellectual property, employment, bankruptcy, and commercial contracts. He is a frequent public speaker and has published a number of articles in industry and professional journals, including Public Utilities Fortnightly, the Journal of Legal Studies, and the Michigan Telecommunications and Technology Law Review. He is a member of the American Economic Association and Federal Communications Bar Association. Before joining Analysis Group, he consulted to the California Energy Commission and Telcordia.
Professor Simonson is an expert in survey methods, behavioral decision making, buyer behavior, consumer evaluation of brands and promotional offers, and marketing management. His research includes experimental studies on the effect of survey methods on likelihood-of-confusion estimates and examines topics such as how consumers make product choices in the digital marketplace, how information gleaned from customer surveys can be misleading, and how consumer decision making impacts marketing practices. Professor Simonson has served as an expert witness in matters involving surveys, trademarks, buyer behavior, the impact of product and service features on buyers’ choices, false advertising, branding, and other marketing issues. He has consulted to clients in a wide range of industries. He is a coauthor of the book Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.
Professor Simonson has also published numerous articles on topics such as the impact of product features, product and service evaluations, trademark confusion, buyer decision making, and survey methods. His research has won many awards, including two O’Dell awards for research that has made a “significant, long-term contribution” to the field of marketing. Professor Simonson is also a lifetime fellow of the Association of Consumer Research for his impact on the scholarly study of consumer behavior. He received an honorary doctorate from the University of Paris II (Sorbonne Universities). He serves on the editorial boards of several leading publications and is the coeditor of Consumer Psychology Review. At Stanford, Professor Simonson has taught M.B.A. courses on marketing management, marketing to businesses, technology marketing, and applied behavioral economics, as well as Ph.D. courses on buyer behavior, surveys, consumer research methods, and behavioral economics.
Mr. Chen is an expert in structured finance with two decades of experience and product expertise in asset-backed securities and other structured products. These include collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), derivative product companies (DPCs), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), and structured investment vehicles (SIVs). Mr. Chen has served as a testifying expert on issues related to CLO, CDO, and RMBS ratings. He has provided management consulting and litigation support on securities and derivatives matters involving commercial and residential real estate, credit derivatives and total return swaps, and interest rate derivatives and indices, such as the London Interbank Offered Rate (LIBOR) and the transition from LIBOR to the secured overnight financing rate (SOFR). Prior to founding Pronetik in 2010, Mr. Chen was the chief operating officer (COO) and managing director at Centerline Financial LLC. There he monitored synthetic portfolios of multifamily and commercial real estate transactions, drafted and negotiated credit default swap documentation, and served as chief liaison with rating agencies. Earlier in his career, Mr. Chen was vice president of the structured finance-derivatives group at Moody’s Investors Service, where he rated transactions including cash flow and synthetic CDOs, structured notes, credit linked notes, and catastrophe (cat) bonds. He began his career as an associate at Willkie Farr & Gallagher, then joined Sullivan & Cromwell with a practice in corporate law, securities, and a concentration in structured finance. Mr. Chen has appeared on the CBS Evening News and been quoted or cited in media including The Wall Street Journal, Bloomberg News, and Businessweek.
Professor Tufano’s work spans a broad range of topics in finance, including climate finance and derivatives and structured finance. His research interests include financial innovation, business solutions to climate change, the design of new securities and financial instruments, the organization of financial markets, corporate risk management, the mutual fund industry, and household finance. Professor Tufano has provided expert testimony and reports in several finance- and securities-related matters, including a matter involving retained asset accounts; the Parmalat securities litigation; economic characterizations of securities for tax courts; and the Enron Corporation securities, derivative, and ERISA litigations.
He has written a number of books, and his articles have been published in journals such as The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, and Harvard Business Review. He is an associate editor of the Journal of Investment Management. Professor Tufano’s work has also been featured in a number of media outlets, including The New York Times and the Financial Times. He has received several awards, including the Smith Breeden Prize for the best finance paper published in The Journal of Finance and a leadership award from the Aspen Institute. Prior to re-joining the Harvard Business School faculty, he was dean of the Saïd Business School at the University of Oxford for a decade.
A co-founder of Analysis Group, Inc., Dr. Stangle is an economist specializing in the fields of industrial organization and finance. He has over 40 years of experience directing large research projects in numerous industries on issues related to antitrust, regulation, bankruptcy, ERISA, and securities matters, and has consulted to firms on various management, strategy, and policy issues. Dr. Stangle has provided testimony on class certification, market definition, entry conditions, competitive effects, securities valuation, and damages. He is a trustee emeritus of Bates College and a former outside member of the board of directors of Wellington Trust Company, NA, a money management firm. Dr. Stangle also occasionally serves on the boards of startup firms, and was formerly a director of a mutual fund and a venture capital firm.
Arnold Barnett's research specialty is applied mathematical modeling generally focused on problems of health and safety. His early work on homicide was presented to President Ford at the White House, and his analysis of US casualties in Vietnam was, among other things, the subject of a column by William F. Buckley. He has received the President's Award and the Expository Writing Award from INFORMS (1996 and 2001, respectively) and the President's Citation from the Flight Safety Foundation (2002) for “truly outstanding contributions on behalf of safety.” He has written op-ed pieces for The New York Times, The Wall Street Journal, The Boston Globe, and USA Today. Ten times he has been honored for outstanding teaching by students at MIT's Sloan School of Management; in 1992, Business Week described him as the “best” Sloan School faculty member. Dr. Barnett has testified in many legal proceedings as a statistical expert and an aviation-safety expert.
Professor Kiesling is an expert in energy and regulatory economics, energy history, energy market design, and technology in the development of energy markets, with a particular interest in the electricity industry. Her research focuses on electricity policy and market design issues related to regulation and technological change; the economics of smart grid technologies; and the interaction of market design and innovation in the development of retail energy markets, products, and services. Professor Kiesling has provided expert testimony in proceedings before the Federal Energy Regulatory Commission (FERC), the California Public Utilities Commission, the Illinois Commerce Commission, and the New York Public Service Commission. She teaches at economics workshops for regulators, and lectures to academic, industrial, and regulatory groups about regulatory policy, institutional change, and the economic analysis of electric power market design. Professor Kiesling is the author of two books and numerous articles, book chapters, policy studies, and public interest comments. She serves on the Electricity Advisory Committee for the US Department of Energy, as well as the Academic Advisory Council for the UK Institute of Economic Affairs. Previously, Professor Kiesling was a visiting associate professor at Carnegie Mellon University and held positions in the economics departments of Purdue University and Northwestern University.
Mr. Fink specializes in the application of economic analyses to complex business litigation matters. He has provided expert support in a broad range of cases, including antitrust matters, intellectual property (IP) cases, general business litigation, and regulatory proceedings. Mr. Fink has experience supporting experts across a variety of industries, including pharmaceuticals, high tech, agriculture, and media and entertainment. His case work has included antitrust claims against brand and generic drug manufacturers involving allegations of reverse-payment settlements, IP disputes involving biologic and biosimilar pharmaceutical manufacturers, and restraint of trade allegations involving exclusive licensing in the cosmetics industry. He has assisted attorneys, academic affiliates, and industry experts in all phases of complex litigation, including pretrial discovery, case strategy, expert reports, deposition support, and trial preparation.
Professor Cohen’s expertise lies in the intersection of data science and operations management. His research has examined the retail, ridesharing, airline, sustainability, cloud computing, online advertising, peer-to-peer lending, real estate, and health care industries, and he has collaborated with many companies, including Google AI, Microsoft, Meta, Uber, Waze, Spotify, and L’Oréal. Professor Cohen has been retained as an expert witness and testified at deposition in cases involving user data, pricing practices, and trade secrets. He frequently consults to corporations, retailers, and startups on topics related to data-driven pricing, retail management, AI technologies, and data science. As an advisory board member of several startups, Professor Cohen has helped develop and deploy solutions to business problems using techniques in machine learning, optimization, stochastic modeling, econometrics, and field experiments. He was listed in Poets&Quants’ 40-Under-40 Best MBA Professors and RETHINK Retail’s Top Retail Influencers and was awarded Management Science’s Best Paper Award in Operations and Supply Chain Management. He has coauthored several books, as well as numerous academic papers in leading journals. Professor Cohen serves as the chief AI officer of ELNA Medical, the scientific director of the nonprofit MyOpenCourt, and a scientific advisor in AI at IVADO Labs. Before joining the faculty at McGill University, he was an assistant professor of technology, operations, and statistics at the NYU Stern School of Business and a research scientist at Google AI.
Ms. Mulhern specializes in the application of economic principles to issues arising in complex business litigation. She has served as an expert witness on damages issues in commercial litigation matters, including intellectual property (IP) and breach of contract cases, providing testimony in various district and state courts. Ms. Mulhern’s intellectual property damages experience includes cases involving allegations of patent, copyright, and trademark infringement, as well as misappropriation of trade secrets; she has also provided expert testimony on these issues in Section 337 cases at the International Trade Commission (ITC). Before the ITC, she has testified on a variety of economic issues, such as domestic industry, remedy, bonding, commercial success, and public interest. Ms. Mulhern’s litigation experience spans a variety of industries, including pharmaceuticals, medical devices, automotive, entertainment, consumer products, computer hardware and software, semiconductors, and telecommunications. In non-litigation matters, she has assisted clients in valuing intellectual property and other business assets in the context of strategic alliances and joint ventures. Ms. Mulhern has been recognized as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe. She is a member of the American Economic Association and the Licensing Executives Society, and is a frequent writer and speaker on issues related to intellectual property valuation and damages assessment.
Professor Skrzypacz is an expert in industrial organization and market design. His research centers on microeconomic theory and its applications, including collusion, auctions, pricing, and bargaining. In addition to his academic research, Professor Skrzypacz consults on auction strategy and competition issues, and has served as an academic visitor at Yahoo! Research. He has counseled bidders in wireless spectrum auctions in the United States, Canada, the Netherlands, Switzerland, Austria, and Sweden. He has also advised internet companies on design and competition in online auctions, and communication companies on regulation issues.
Professor Skrzypacz has published a number of articles on topics such as using spectrum auctions to enhance competition in wireless services, private monitoring and communication in cartels, and information disclosure. His most recent papers have focused on auction design, dynamic games, and collusion in markets. He is an associate editor of The RAND Journal of Economics and American Economic Review: Insights, and a former coeditor of American Economic Review. Additionally, Professor Skrzypacz is a fellow of the Econometric Society, an economic theory fellow of the Society for the Advancement of Economic Theory, and a senior fellow of the Rimini Centre for Economic Analysis.
Professor Chevalier is an expert in industrial organization, finance, and competitive business strategy. She has provided expert testimony and been deposed in several major antitrust matters, including State of New York v. Intel Corporation, in which she assessed the business strategies of competitors in the semiconductor industry and evaluated market outcomes. An affiliate with Analysis Group, Professor Chevalier, supported by Analysis Group teams, recently served as an expert in litigation involving online search databases, and in several matters involving entertainment industry issues related to rights, prices, and competition. She has also assisted a number of major technology firms with analyses of competition and antitrust issues. Professor Chevalier's academic research focuses on the economics of electronic commerce, the interaction between firm capital structure and product market competition, and price seasonality and cyclicality. Her research has been featured in Slate magazine and on National Public Radio. Professor Chevalier is also an elected member of the American Academy of Arts and Sciences. She is a former member of the American Economic Association's (AEA) Executive Committee and a former board member of the organization's Committee on the Status of Women in the Economics Profession. In 1999, she won the first biennial Elaine Bennett prize, given by the AEA in recognition of research by a woman in any area of economics. Professor Chevalier is an active author. She has published articles in the American Economic Review; Journal of Industrial Economics; Journal of Business; Quarterly Journal of Economics; Journal of Finance; Journal of Law, Economics, and Organization; and Journal of Political Economy. She is a former coeditor of the Rand Journal of Economics and has served as a coeditor of the American Economic Review, editor of the B.E. Journal of Economic and Policy Analysis, advisory editor of Quantitative Marketing and Economics, and associate editor of numerous journals.
Dr. Frot is an economist with specialized expertise in applying quantitative analyses to competition, litigation, regulatory, and business intelligence issues. He advises firms in a wide range of industries, providing economic and econometric expertise on matters related to mergers, market concentrations, cartel investigations, and damages.
Over the years, he has performed numerous economic and econometric analyses in Phase I and Phase II mergers before the French Competition Authority and the European Commission, including Veolia Transport/Transdev, Jardiland/InVivo, Castel/Patriarche, Fnac/Nature & Découvertes, d’aucy/Triskalia, Lactalis/Nuova Castelli, Lactalis/Leerdammer, CMA CGM / Bolloré Logistics, Canal+/OCS, and Suez/Veolia. He has led case teams and performed economic analyses in several prominent horizontal and vertical cartel cases, as well as estimated damages in antitrust litigation and intellectual property matters. He has also assisted companies in modeling and implementing changes to pricing behavior.
His reports have been presented to the European Commission, the French Competition Authority, the Court of Appeals, the Conseil d’État (France’s highest administrative court), the Tribunal of Commerce of Paris, and regulators in the telecommunications, energy, transportation, and gambling sectors. Dr. Frot has published a number of articles in peer-reviewed journals and regularly speaks at international competition law and policy conferences.
Professor Lambrecht is an expert in digital marketing and consumer behavior. Her research focuses on marketing decisions in digital environments – emphasizing online targeting, advertising, promotion, and pricing. In the context of digital marketing, Professor Lambrecht has examined how firms can use retargeting to reach out to consumers; how firms can advertise on Twitter to early trend propagators; the role of position effects on information displayed to consumers online; and, more broadly, the value of big data for firms. In her online pricing work, Professor Lambrecht examines the economics of pricing online services and online promotions, such as daily deals or cashback promotions.
Recently published research explores the role of economics in the context of apparent algorithmic biases. Currently, Professor Lambrecht is studying the value of top positions in organic search results and how users contribute to crowdfunding campaigns. In an additional research stream on price discrimination in service industries, she has focused on the use of multi-part tariffs by service providers such as telecom companies.
Professor Lambrecht has published a number of articles in leading academic journals, such as Marketing Science, Management Science, and the Journal of Marketing Research. Among other awards, she has received the American Marketing Association's Paul E. Green Award and has recently been selected as the winner of the prestigious William F. O'Dell Award. In addition, Professor Lambrecht has held several editorial roles at prominent academic publications.
Professor LaRue has been recognized as an expert in federal and international taxation, financial and cost accounting, and economic and financial analysis in several cases before the US Tax Court, US District Courts, and the US Court of Federal Claims. He has provided invited testimony on tax policy issues before the US House of Representatives Ways and Means Committee and the US Department of the Treasury. As a faculty member at the University of Virginia for 25 years, Professor LaRue taught undergraduate and graduate courses on financial accounting, federal taxation, economic analysis, and international finance and business at the McIntire School of Commerce, and served as the director of its graduate accounting program. He also developed and taught in-house continuing education courses on federal taxation for KPMG; PwC; Ernst & Young; Deloitte Touche; and the NYU School of Law in connection with the Internal Revenue Service’s (IRS’s) Office of Chief Counsel; among others. Professor LaRue has authored articles on various aspects of taxation that have appeared in publications including NYU’s Tax Law Review and the American Bar Association’s The Tax Lawyer. He has chaired and served on committees and task forces for numerous organizations, including the Tax Section of the American Institute of Certified Public Accountants (AICPA), the American Taxation Association, the American Accounting Association, and others. In recognition for his work as an instructor, researcher, and expert, Professor LaRue has won over a dozen teaching awards, including the Virginia Society of Certified Public Accountants’ Outstanding Educator Award and the Ernst & Young Tax Literature Award, as well as commendations from both the US Department of Justice’s Fraud Section and the Criminal Investigation Division of the IRS.
Mr. Starfield specializes in the direction and management of large-scale cases involving complex economic and financial issues. For more than two decades, he has conducted economic analysis and managed case teams in support of leading academic experts in a range of cases, notably a number of matters involving complex securities, including residential mortgage-backed securities, collateralized debt obligations, and credit default swaps. In matters related to the Lehman bankruptcy, he supported multiple experts in assignments related to structured financial products, secured financing, collateral management, derivatives risk exposure, complex accounting topics, and the causes of Lehman's failure. He also managed case teams in the Enron-related litigations involving some of the major settlements emerging from the Enron bankruptcy. In addition, he has worked on a broad range of cases in the investment management area, including numerous matters involving alleged violations of Sections 10b-5 and 11, in which he provided management of many dimensions of financial and economic analysis, including market efficiency, loss causation and materiality, and damages. Mr. Starfield also worked with mutual fund companies, boards, and regulators in some of the most prominent market timing matters. He managed all aspects of financial and economic analysis in a fraudulent conveyance litigation involving one of the largest bank failures in US history, including identification and support of numerous academic expert witnesses who testified on the economics of the banking industry; conditions in real estate markets; the management, operation, and regulation of nationally chartered commercial banks and bank holding companies; and factors that led to bank failures.
He has conducted analyses and served as an expert in numerous matters involving commercial disputes, and also has significant experience in the valuation of large, closely held companies.
In his role as an expert, Mr. Starfield has developed economic and financial models; prepared testimony; developed, presented, and reviewed pretrial discovery; and evaluated the economic and financial analyses of opposing experts. He has provided support to successful testimony on numerous topics involving economics in both bench and jury trials. Outside of litigation, he has assisted clients in a variety of industries with development of business plans and financial projections, frequently involving the use of complex integrated financial models. Formerly a senior manager in the Dispute Analysis and Corporate Recovery Services group of Price Waterhouse, Mr. Starfield is a chartered accountant of South Africa, a member of the South African Institute of Chartered Accountants, and a member of the Association of Chartered Certified Accountants in the United Kingdom.
Mr. Contino specializes in the analysis and valuation of residential mortgage loans and securities, to both market participants and in complex litigation. His expertise extends to the valuation of niche security and loan products (e.g. residuals, resecuritizations, SF rental securities, timeshares, second liens). Clients have included broker-dealers, other investment advisors, bankruptcy experts, REITs, insurance companies, pension funds, and US government-sponsored enterprises, among others. Other government experience includes providing quantitative support to a sale advisor to the US Department of Housing and Urban Development, the Small Business Administration, and the Federal Deposit Insurance Corporation. He provided similar support during the development of the Mortgage Purchase Program for the Federal Home Loan Banks of Cincinnati, Indianapolis, and Seattle. Mr. Contino took two leaves of absence from Sperlinga Advisory to serve as a mortgage hedge fund portfolio manager, with one of those roles overlapping the mortgage market crisis.
As a testifying expert, Mr. Contino has written reports and provided testimony in arbitration as well as in both federal and state court. He served as a consulting expert in a series of cases for the US Department of Labor – Office of the Solicitor, involving mortgage securities and ERISA. His litigation-related experience spans the residential mortgage industry, with disputes involving valuation, suitability, market practices, and intellectual property. The valuation cases have included the spectrum of mortgage loan credit (agency, prime, Alt-A, subprime) and the spectrum of securitization structures (senior and subordinate securities, complex resecuritizations, residuals, and both performing and non-performing whole loans).
Ms. O’Laughlin works with clients on both litigation and non-litigation matters. In the litigation context, she has served as an expert witness and testified at trial, and conducts economic analyses and manages case teams in support of academic and industry experts in a broad range of matters throughout the US and Canada. She has assisted clients in all phases of the litigation process, and has supported expert witnesses in the preparation of reports and other testimony in matters involving merger reviews, antitrust litigation, competition policy, data privacy, labor relations, false advertising, finance, valuation, trademark, intellectual property (IP), and patent infringement. Ms. O’Laughlin also has experience with allegations of exclusionary conduct in various industries, including agricultural products, consumer packaged goods, finance, retail, telecommunications, and technology. She has developed, administered, and analyzed surveys in trademark, IP, antitrust, consumer protection, data privacy, and false advertising matters. In the non-litigation context, Ms. O’Laughlin uses complex research methods and applies innovative analytical approaches to provide new insights on the competitive and market challenges that clients face in managing and expanding their businesses. She publishes regularly on issues related to marketing, economics, litigation, and public policy. Ms. O’Laughlin is bilingual in both of the official languages of Canada, French and English.
Professor Snow is an expert in technology and operations, innovation management, and service management, with a specialization in automotive, health care, aerospace, and growth-stage companies. His research addresses two areas: the complex relationship between new and old technologies during technology transitions; and service operations, particularly the building of theoretical microfoundations to help define the field, and empirical research on operational productivity. Professor Snow has testified in antitrust and competition cases as well as commercial disputes. He has taught at Harvard Business School, The Wharton School of the University of Pennsylvania, Tuck School of Business at Dartmouth College, and BYU Marriott School of Business; presented at a variety of management, innovation, and technology conferences; and written numerous cases for academic use. In 2014, he and coauthor Lamar Pierce received the Olin Award for Research That Transforms Business. Professor Snow is an executive committee member of the Harvard Business School Institutions and Innovation Conference, and a former board member of the Council of Supply Chain Management Professionals.
Professor Srinivasan focuses his research in the areas of marketing, advertising, e-commerce, technology, and innovation. He specializes in applying structured economic models to unstructured data by merging the tools of econometrics and data science (including machine learning techniques). Specific topics he has consulted and published on include the sharing economy, competitive dynamics and pricing in two-sided platforms; machine learning algorithms and their inherent biases; and health outcomes data. Professor Srinivasan has consulted to several Fortune 500 companies. He has founded two startups and served on the boards of both startups and a private equity firm. He has served on the editorial boards of the Journal of Marketing Research, Management Science, Marketing Science, and Quantitative Marketing and Economics. He was a coeditor-in-chief of the Marketing Science special issue on emerging markets. Professor Srinivasan is a former president of the INFORMS Society for Marketing Science. He has been granted several patents on dynamic business models on the internet and has worked closely with patent examiners. His patents have been licensed by a Fortune 3 firm, and he has a deep knowledge of the securing and infringement of patents.
Mr. Gold has more than 20 years of experience applying economics, finance, and statistics to litigation matters. He has been involved in all phases of the litigation process, from pretrial discovery to expert report and trial preparation. Mr. Gold has led teams supporting experts and assisted counsel on a variety of securities, commercial litigation, and intellectual property matters.
Mr. Gold has extensive experience consulting on securities matters, including analyzing market efficiency, estimating damages, conducting event studies, and analyzing potential settlements. He has also submitted expert declarations in civil and criminal securities fraud matters. His experience includes cases involving securities and financial derivatives such as swaps, structured notes, mortgage-backed securities, convertible preferred stock, and options. Mr. Gold has worked on antitrust matters involving the trading of securities, and he has conducted assessments of class certification in cases involving securities fraud, product liability, and false advertising, including analyzing whether liability or damages can be assessed using common proof. His work spans industries such as financial services, legal services, telecommunications, entertainment, health care, and oil and gas. He is the coauthor of “Federal Securities Acts and Areas of Expert Analysis” in the Litigation Services Handbook.
Professor Mayzlin’s research focuses on how businesses manage social interactions, advertising, and communication strategies, including word of mouth and social media. She has filed expert reports and testified at deposition in marketing-related litigation matters, including testimony in a lawsuit involving the way a major e-commerce company aggregated product reviews. In another case, she analyzed allegations that the plaintiff’s competitor had posted fake negative reviews on its Yelp page. Professor Mayzlin has written numerous scholarly articles on social media management, the manipulation of online reviews, measuring online word of mouth, and online influencers. She is also an associate editor at Marketing Science. Her work has earned several awards, including the INFORMS Society for Marketing Science Long Term Impact Award, and been cited more than 15,000 times on Google Scholar. A frequent speaker, Professor Mayzlin has provided keynote addresses at academic conferences worldwide, including the Advertising and Consumer Psychology Conference and the Interactive Marketing Research Conference. She has co-chaired and presented at the Summer Institute in Competitive Strategy at the Haas School of Business at the University of California, Berkeley. Prior to joining the USC Marshall School, where she teaches undergraduate, M.B.A., and doctoral courses, Professor Mayzlin served on the faculty of the Yale School of Management.
Professor Dranove's research focuses on problems in industrial organization and business strategy, with an emphasis on the health care industry. He has published nearly 100 research articles and book chapters, and is the author of six books, including The Economic Evolution of American Healthcare, Code Red, and the textbook The Economics of Strategy, which is used by leading business schools around the world. Professor Dranove regularly consults with leading health care organizations in the public and private sectors. He also has two decades of experience performing and testifying about economic analyses in both litigation and regulatory actions. Most recently, he testified on competition issues for the US Department of Justice in the agency’s effort to block a proposed merger of two commercial health insurers. Professor Dranove concluded that the proposed transaction likely would result in higher prices and less innovation. He also has served on the executive committee and board of directors of the Health Care Cost Institute. Professor Dranove is on the review board of numerous prominent industry journals; he is the editor of the International Journal of Health Economics and Management and an associate editor of the RAND Journal of Economics. He is an elected member of the National Academy of Medicine.
Ms. Okie has conducted economic and financial analyses and managed case teams in support of academic and industry experts across engagements in securities and antitrust litigation, regulatory investigations, bankruptcy matters, arbitrations, and general commercial litigation. Her experience spans a wide variety of sectors and has included fact and expert discovery, class certification, liability and damages, and trial. Her antitrust work includes civil and criminal litigation surrounding a variety of alleged anticompetitive conduct and analyses of competition issues across a range of industries. Ms. Okie has worked on a number of matters at the intersection of antitrust and financial services, including alleged anticompetitive conduct related to foreign exchange rates, municipal bond markets, and financial product trading. She has assessed alleged misrepresentations and omissions in the underwriting of securities, including issues surrounding loss causation, falsity, materiality, and buy-side and sell-side due diligence; analyzed valuation issues in mergers and acquisitions; and evaluated REIT market corporate governance and industry dynamics. In the energy sector, Ms. Okie has estimated damages associated with failed projects; valued rights-of-way; and supported clients involved in market manipulation investigations by the US Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Federal Energy Regulatory Commission (FERC), and state agencies. She has evaluated trading data, market power, and other competitive issues in oil, natural gas, propane, and electricity markets. Ms. Okie has published on many energy; environmental; and environmental, social, and governance (ESG) topics and authored white papers and reports for foundations, regional transmission organizations, and industry organizations. Ms. Okie is vice-chair of the Insurance and Financial Services Committee of the American Bar Association’s Antitrust Law Section.
Mr. Conway is an expert on complex technical accounting, Sarbanes-Oxley compliance, and corporate governance, with 40 years of experience in public accounting. His litigation experience includes preparing expert witness reports, assisting counsel with case strategy, and testimony. Prior to his consulting career, Mr. Conway was the regional associate director of the Public Company Accounting Oversight Board (PCAOB) in Orange County and Los Angeles. At the PCAOB, he inspected audits of the Big Four firms, focusing on revenue recognition, business combination accounting, the valuation of identifiable intangible assets, and impairment testing of goodwill and identifiable intangibles. Mr. Conway has also been the senior professional practice director at CNM, a technical accounting advisory firm, and an audit partner at KPMG, where he served for 26 years. He is the author of The Truth About Public Accounting: Understanding and Managing the Risks the Auditors Bring to the Audit, and he has led a number of corporate seminars on accounting and auditing issues, including at the Stanford Graduate School of Business.
Dr. Strombom is an expert in applied microeconomics, finance, and quantitative and statistical analysis. He provides assistance to attorneys in all phases of pretrial and trial practice, prepares economic and financial models, and provides expert testimony in litigation and public policy matters. Dr. Strombom has conducted assessments of class certification, liability, and damages issues in cases involving antitrust, breach of contract, ERISA, false advertising, intellectual property, labor and employment, product liability, securities, and general commercial disputes.
Prior to joining Analysis Group, Dr. Strombom was Executive Vice President of a middle-market merger and acquisition firm, where he managed a financial and market research organization that provided valuation and consulting services to over 500 privately held companies annually. Previously, he was Consulting Manager at Price Waterhouse, where he provided litigation support and value enhancement consulting services, and Senior Financial Analyst at the Tribune Company, where he evaluated capital projects and acquisition candidates.
Mr. Lawrence is an expert in due diligence, investment practices, and corporate governance. He has testified and been retained as an expert in high-profile securities lawsuits and advised the US Securities and Exchange Commission (SEC) on due diligence and investment practices. In his role at Pacific Financial Group, Mr. Lawrence oversees a portfolio of private equity, marketable securities, and alternative investments. He teaches due diligence at Southern Methodist University, where he founded the Center for Advanced Due Diligence Studies. Mr. Lawrence has published extensively in the field and is the author of Due Diligence in Business Transactions, a leading text in the field for more than 20 years; Due Diligence: Investigation, Reliance & Verification – Cases, Guidance and Contexts; Due Diligence: Law, Standards and Practice; and Due Diligence, a Scholarly Study. His work has been cited by the US District Court for the Southern District of New York, in filings before the US Supreme Court, and in other publications. He has served on boards of directors and on the audit, management, compensation, and executive committees of public and private companies. Prior to his academic and investment career, Mr. Lawrence was a managing partner of an international law firm, where he founded and taught the firm’s due diligence training program, managed its investment fund, and chaired the global technology, media, and telecommunications practice. He has been admitted to the state bars of New York, the District of Columbia, and Texas.
Professor Hart is a leading expert in contract theory, the theory of the firm, and corporate finance. In 2016, he and Professor Bengt Holmström were awarded the Nobel Prize in Economics for their work in contract theory. Professor Hart’s research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. His recent work involves determining how parties can write better contracts, as well as how a new model of corporate governance can better incorporate the importance shareholders place on nonfinancial criteria.
Professor Hart has consulted to businesses and government entities, and provided expert testimony on contract and governance disputes in which he has evaluated the business purpose and economic substance of special purpose entities. As an expert on behalf of Qualcomm in Apple v. Qualcomm, he provided guidance on the optimal structure of contracts, and why and when they should be enforced. His book Firms, Contracts, and Financial Structure is a leading work in the fields of contract theory and corporate finance. He has published widely in peer-reviewed journals and contributed to the Financial Times and The Wall Street Journal. Professor Hart is a member of the IGM (Initiative on Global Markets) Economics Experts Panel of The University of Chicago Booth School of Business, and is affiliated with the Program on Corporate Governance at Harvard Law School’s John M. Olin Center for Law, Economics, and Business. He is a past president of the American Law and Economics Association.
Mr. Gorin has more than 30 years of experience as a strategy and economic consultant with deep expertise in the health care, chemicals, oil and gas, agriculture, and automotive industries. He leads large, complex engagements in antitrust matters, health care strategy, and large commercial litigation cases, providing direct leadership at every stage of engagement, from strategy to implementation. In addition to his own expert work, Mr. Gorin regularly identifies and collaborates with leading academic and industry affiliates. Mr. Gorin's unique experience across industries and practices allows him to leverage his complementary strategic, economic, and specific subject matter expertise to provide pragmatic solutions to address clients' complex business and legal challenges.
Mr. Gorin's work in antitrust and competition cases has included the analysis of alleged anticompetitive behavior and the evaluation of the competitive impact of mergers and acquisitions in strategic, regulatory, and litigation contexts. In these cases, Mr. Gorin has defined and analyzed relevant markets, assessed potential or past competitive impact, simulated the outcome of mergers and acquisitions in the marketplace, and evaluated potential antitrust remedies. As a leading expert in Analysis Group's Health Care Strategy practice, Mr. Gorin works with diagnostic innovators and manufacturers to develop acquisition and growth strategies, create plans to achieve favorable coverage and reimbursement in the United States and international markets, and design and implement evidence development strategies to support coverage and reimbursement goals. In commercial litigation cases, he regularly leads teams and experts to support clients in matters related to liability and damages, such as valuation, economic harm, accounting, corporate governance, and organizational performance and culture.
Prior to joining Analysis Group, Mr. Gorin was a partner in the worldwide Energy, Chemicals, and Pharmaceuticals Group at Booz, Allen & Hamilton, Inc.
Professor Crémer is an expert in industrial organization with a particular focus on competition, contract theory, planning theory, the economics of organization, and the theory of auctions. His recent research examines these issues with applications to the economics of two-sided platforms, industries with network effects, and the Internet, where he examines the effect of new market entrants on incumbent firms, among other competitive issues. Professor Crémer has testified before the European Commission in relation to the AOL-Time Warner merger, and has consulted to clients including Microsoft, Google, Sucre Saint Louis, Intel, GTE, and Time Warner. He has published extensively on a variety of topics, including the consequences of mergers on competition and policy, the costs and benefits of vertical integration, and the value of switching costs. He is the coauthor of the book, Models of the Oil Market, and has contributed to various other books, including the chapter “Switching Costs and Network Effects in Competition Policy” in Recent Advances in The Analysis of Competition Policy and Regulation. Professor Crémer has served in editorial positions for International Journal of Industrial Organization, European Economic Review, and The RAND Journal of Economics, and his work has been published in peer-reviewed journals such as American Economic Review, The Quarterly Journal of Economics, and Journal of Industrial Economics. Professor Crémer is a Fellow of the European Economic Association; a Fellow and member of the Council of the Econometric Society; and a Fellow of the Society for the Advancement of Economic Theory. From 2011 to 2014, he was the Scientific Director at the Toulouse School of Economics (TSE). Prior to that, he served as the Director of Institut d'Economie Industrielle (IDEI), a research institute of the Toulouse School of Economics focused on partnerships with government and industry. He also manages the Jean-Jacques Laffont Digital Chair at the TSE and is a member of the French Digital Council (Conseil National du Numérique).
Ms. Pike applies her expertise in health economics, statistics, and large administrative claims and transaction-level databases to help resolve complex litigation and strategic business questions in a variety of contexts, including matters involving the False Claims Act, Anti-Kickback Statute, and Controlled Substance Act. She has performed economic analyses and presented findings to US Attorney's Office investigators in numerous cases involving allegations of off-label promotion, kickback, and pricing issues. Ms. Pike also applies economic theory and empirical estimation methods in a variety of product liability, breach of contract, intellectual property, and transfer-pricing engagements. She has extensive experience in developing flexible damages models for real-time use in high-stakes negotiations.
Ms. Pike has been instrumental in developing bespoke suspicious order monitoring programs; building internal analytical programs to assess the risk of theft or diversion; and assisting manufacturers, wholesalers, and pharmacies in responding to government investigations and/or lawsuits related to controlled substance distribution and dispensing. She has managed a range of health care cases involving analysis of future lost profits; economic analysis of physician payment structures under capitation; studies of the cost effectiveness, budget impacts, and direct and indirect costs of illness associated with a variety of diseases; and pricing analyses for large multinational corporations across numerous industries. Ms. Pike has published numerous articles on related topics in health care economics and clinical journals.
Professor Miller is an economist whose research interests include public finance, labor economics, health economics, and industrial organization. Her research has covered Medicaid expansion, workplace competition and labor supply, financing of employment-based health insurance plans, and effects of COVID-19 shutdowns, among other topics. She has received research funding from the US National Science Foundation (NSF), National Institutes of Health (NIH), Agency for Healthcare Research and Quality (AHRQ), and Department of Defense (DoD). Professor Miller is an associate editor of The Leadership Quarterly and the ILR Review, and has published articles in peer-reviewed journals, such as the Journal of Labor Economics, the Journal of Health Economics, The Journal of Human Resources, and The Review of Economic Studies. She served two terms on the board of the American Economic Association’s Committee on the Status of Women in the Economics Profession. Professor Miller is a recipient of the Excellence in Reviewing Certificate from Labour Economics, the IZA Young Labor Economist Award, and the WHITE Award for Best Paper on Health IT and Economics. Professor Miller has also worked as an economist with the RAND Corporation.
Professor Statman’s research focuses on behavioral finance. Specifically, he endeavors to understand how investors and managers make financial decisions, and how these decisions are reflected in financial markets. The questions he addresses in his research include what investors want and how to balance those wants; investors’ cognitive and emotional shortcuts, and how to overcome related errors; how these wants, shortcuts, and errors are reflected in saving, spending, and portfolio construction choices; and how these choices are reflected in asset pricing and market efficiency. He has consulted to several investment companies and given presentations on his work worldwide.
Professor Statman’s most recent book is Behavioral Finance: The Second Generation. His research has been published in The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, the Journal of Financial and Quantitative Analysis, Financial Analysts Journal, and The Journal of Portfolio Management, among other publications. He is an associate editor of the Journal of Behavioral Finance and the Journal of Investment Management, and also serves on the advisory board of several publications. His research has received several awards – including two Bernstein Fabozzi/Jacobs Levy Awards, the Matthew R. McArthur Industry Pioneer Award, and the William F. Sharpe Best Paper Award – and has been supported by the National Science Foundation, the CFA Institute Research Foundation, and the Investment Management Consultants Association.
Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust. In all of these areas, he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA case work includes supporting experts in dozens of ERISA litigations, including at least six cases in which our clients prevailed at trial. He has also served as an expert in ERISA class action litigations. Dr. Heavner has written and presented on a variety of topics related to investments and retirement plans, including the article “Expert Analysis of Plan Losses in ERISA Class Action Litigation.” His securities litigation experience includes directing the support of expert witnesses in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities case work includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year. Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.
Mr. Feige specializes in the areas of finance, securities, and financial markets. He has worked on and managed a range of securities and valuation projects in the UK and Europe. Recently, Mr. Feige led an Analysis Group team serving as economic advisors to Steinhoff in support of Steinhoff’s global securities settlement. He also managed teams evaluating shareholder reliance and disclosure materiality and estimating counterfactual share prices in UK Financial Services and Markets Act (FSMA) Section 90A litigation matters. Mr. Feige recently supported experts analyzing the volume of false and spam accounts on Twitter, Twitter’s information security infrastructure, Twitter’s data privacy and compliance with a US Federal Trade Commission (FTC) consent decree, and share price and valuation issues on behalf of Twitter in Twitter v. Musk in which Elon Musk eventually purchased Twitter at his initial offer price. In cases involving alleged market manipulation in the foreign exchange (FX) and IBOR markets, he has analyzed trade data and evaluated alleged manipulation strategies. Mr. Feige worked on USA v. Richard Usher, et al., and the Foreign Exchange Class Antitrust Litigation, analyzing FX trade and chat data, as well as competition issues; preparing experts for testimony at trial; and providing data analyses and consulting support to counsel throughout the projects. He has also worked on a range of international arbitration cases, including valuation, damages, and competition analyses. In addition, he has developed complex valuation models, including discounted cash flow models, and analyzed asset-backed securities, collateralized debt obligations, and other securitized products in support of expert testimony in a number of bankruptcy and damages matters. Mr. Feige has also worked on a number of international arbitrations valuing defaulted sovereign debt, expropriated oil fields, and retail operations. His work has been published in several industry journals.
Professor Keller is a marketing expert who specializes in the application of consumer psychology, information processing, and choice behavior to complex litigation matters involving claims of consumer confusion, false advertising, trademark infringement, and product liability, among other topics. She studies the application of social marketing principles and behavioral theory in consumer and employee contexts, with a focus on designing and implementing consumer communication programs. Professor Keller’s research has been used to assess consumer behavior and decision making and address how consumers incorporate and respond to information across a variety of settings and industries, including pharmaceuticals, health care, financial services, consumer products, law, employee benefits, and insurance. She regularly collaborates with academic and industry experts to inform government-sponsored research on physician and patient decision making for organizations such as the National Institutes of Health, the National Cancer Institute, and the National Institute on Aging.
Professor Keller has consulted to firms on US Food and Drug Administration (FDA) and Federal Trade Commission (FTC) matters and worked on behalf of several government agencies, including the US Department of the Treasury and the Centers for Disease Control and Prevention (CDC). Her work has been published in several marketing journals, and she has also served on numerous journal editorial review boards. She has earned awards for designing effective communications related to health and savings from the Marketing Science Institute and the National Endowment for Financial Education, among others. Professor Keller’s research on decision making was cited by the Social and Behavioral Sciences Team’s 2015 Annual Report for the White House on the use of behavioral science in the design of federal programs and policies. Professor Keller is a fellow of the Association for Consumer Research.
Dr. Sosa specializes in the economics of network industries, law and economics, and industrial organization. He has consulted to telecommunications and electric utility clients on a broad range of litigation and regulatory issues, including industry restructuring, technical standardization, operational and financial benchmarking, mergers and acquisitions, market power analysis, and competitive strategy. Dr. Sosa has served as an expert witness before several state and federal agencies, and has supported testifying experts in assessing the economic impacts of several high-profile mergers in the telecommunications industry. In other telecommunications work, Dr. Sosa has analyzed spectrum license acquisitions, wireless technology standards, and voice and data roaming markets. He has also consulted to telecommunications carriers in Latin America, Europe, and Asia on issues related to competition, regulation, and litigation. In addition, Dr. Sosa has performed damages and valuation analyses for clients in a broad range of litigation matters, including consumer class actions, intellectual property, employment, bankruptcy, and commercial contracts. He is a frequent public speaker and has published a number of articles in industry and professional journals, including Public Utilities Fortnightly, the Journal of Legal Studies, and the Michigan Telecommunications and Technology Law Review. He is a member of the American Economic Association and Federal Communications Bar Association. Before joining Analysis Group, he consulted to the California Energy Commission and Telcordia.
Professor Simonson is an expert in survey methods, behavioral decision making, buyer behavior, consumer evaluation of brands and promotional offers, and marketing management. His research includes experimental studies on the effect of survey methods on likelihood-of-confusion estimates and examines topics such as how consumers make product choices in the digital marketplace, how information gleaned from customer surveys can be misleading, and how consumer decision making impacts marketing practices. Professor Simonson has served as an expert witness in matters involving surveys, trademarks, buyer behavior, the impact of product and service features on buyers’ choices, false advertising, branding, and other marketing issues. He has consulted to clients in a wide range of industries. He is a coauthor of the book Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.
Professor Simonson has also published numerous articles on topics such as the impact of product features, product and service evaluations, trademark confusion, buyer decision making, and survey methods. His research has won many awards, including two O’Dell awards for research that has made a “significant, long-term contribution” to the field of marketing. Professor Simonson is also a lifetime fellow of the Association of Consumer Research for his impact on the scholarly study of consumer behavior. He received an honorary doctorate from the University of Paris II (Sorbonne Universities). He serves on the editorial boards of several leading publications and is the coeditor of Consumer Psychology Review. At Stanford, Professor Simonson has taught M.B.A. courses on marketing management, marketing to businesses, technology marketing, and applied behavioral economics, as well as Ph.D. courses on buyer behavior, surveys, consumer research methods, and behavioral economics.
Mr. Chen is an expert in structured finance with two decades of experience and product expertise in asset-backed securities and other structured products. These include collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), derivative product companies (DPCs), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), and structured investment vehicles (SIVs). Mr. Chen has served as a testifying expert on issues related to CLO, CDO, and RMBS ratings. He has provided management consulting and litigation support on securities and derivatives matters involving commercial and residential real estate, credit derivatives and total return swaps, and interest rate derivatives and indices, such as the London Interbank Offered Rate (LIBOR) and the transition from LIBOR to the secured overnight financing rate (SOFR). Prior to founding Pronetik in 2010, Mr. Chen was the chief operating officer (COO) and managing director at Centerline Financial LLC. There he monitored synthetic portfolios of multifamily and commercial real estate transactions, drafted and negotiated credit default swap documentation, and served as chief liaison with rating agencies. Earlier in his career, Mr. Chen was vice president of the structured finance-derivatives group at Moody’s Investors Service, where he rated transactions including cash flow and synthetic CDOs, structured notes, credit linked notes, and catastrophe (cat) bonds. He began his career as an associate at Willkie Farr & Gallagher, then joined Sullivan & Cromwell with a practice in corporate law, securities, and a concentration in structured finance. Mr. Chen has appeared on the CBS Evening News and been quoted or cited in media including The Wall Street Journal, Bloomberg News, and Businessweek.
Professor Tufano’s work spans a broad range of topics in finance, including climate finance and derivatives and structured finance. His research interests include financial innovation, business solutions to climate change, the design of new securities and financial instruments, the organization of financial markets, corporate risk management, the mutual fund industry, and household finance. Professor Tufano has provided expert testimony and reports in several finance- and securities-related matters, including a matter involving retained asset accounts; the Parmalat securities litigation; economic characterizations of securities for tax courts; and the Enron Corporation securities, derivative, and ERISA litigations.
He has written a number of books, and his articles have been published in journals such as The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, and Harvard Business Review. He is an associate editor of the Journal of Investment Management. Professor Tufano’s work has also been featured in a number of media outlets, including The New York Times and the Financial Times. He has received several awards, including the Smith Breeden Prize for the best finance paper published in The Journal of Finance and a leadership award from the Aspen Institute. Prior to re-joining the Harvard Business School faculty, he was dean of the Saïd Business School at the University of Oxford for a decade.
A co-founder of Analysis Group, Inc., Dr. Stangle is an economist specializing in the fields of industrial organization and finance. He has over 40 years of experience directing large research projects in numerous industries on issues related to antitrust, regulation, bankruptcy, ERISA, and securities matters, and has consulted to firms on various management, strategy, and policy issues. Dr. Stangle has provided testimony on class certification, market definition, entry conditions, competitive effects, securities valuation, and damages. He is a trustee emeritus of Bates College and a former outside member of the board of directors of Wellington Trust Company, NA, a money management firm. Dr. Stangle also occasionally serves on the boards of startup firms, and was formerly a director of a mutual fund and a venture capital firm.
Arnold Barnett's research specialty is applied mathematical modeling generally focused on problems of health and safety. His early work on homicide was presented to President Ford at the White House, and his analysis of US casualties in Vietnam was, among other things, the subject of a column by William F. Buckley. He has received the President's Award and the Expository Writing Award from INFORMS (1996 and 2001, respectively) and the President's Citation from the Flight Safety Foundation (2002) for “truly outstanding contributions on behalf of safety.” He has written op-ed pieces for The New York Times, The Wall Street Journal, The Boston Globe, and USA Today. Ten times he has been honored for outstanding teaching by students at MIT's Sloan School of Management; in 1992, Business Week described him as the “best” Sloan School faculty member. Dr. Barnett has testified in many legal proceedings as a statistical expert and an aviation-safety expert.
Professor Kiesling is an expert in energy and regulatory economics, energy history, energy market design, and technology in the development of energy markets, with a particular interest in the electricity industry. Her research focuses on electricity policy and market design issues related to regulation and technological change; the economics of smart grid technologies; and the interaction of market design and innovation in the development of retail energy markets, products, and services. Professor Kiesling has provided expert testimony in proceedings before the Federal Energy Regulatory Commission (FERC), the California Public Utilities Commission, the Illinois Commerce Commission, and the New York Public Service Commission. She teaches at economics workshops for regulators, and lectures to academic, industrial, and regulatory groups about regulatory policy, institutional change, and the economic analysis of electric power market design. Professor Kiesling is the author of two books and numerous articles, book chapters, policy studies, and public interest comments. She serves on the Electricity Advisory Committee for the US Department of Energy, as well as the Academic Advisory Council for the UK Institute of Economic Affairs. Previously, Professor Kiesling was a visiting associate professor at Carnegie Mellon University and held positions in the economics departments of Purdue University and Northwestern University.
Mr. Fink specializes in the application of economic analyses to complex business litigation matters. He has provided expert support in a broad range of cases, including antitrust matters, intellectual property (IP) cases, general business litigation, and regulatory proceedings. Mr. Fink has experience supporting experts across a variety of industries, including pharmaceuticals, high tech, agriculture, and media and entertainment. His case work has included antitrust claims against brand and generic drug manufacturers involving allegations of reverse-payment settlements, IP disputes involving biologic and biosimilar pharmaceutical manufacturers, and restraint of trade allegations involving exclusive licensing in the cosmetics industry. He has assisted attorneys, academic affiliates, and industry experts in all phases of complex litigation, including pretrial discovery, case strategy, expert reports, deposition support, and trial preparation.
Professor Cohen’s expertise lies in the intersection of data science and operations management. His research has examined the retail, ridesharing, airline, sustainability, cloud computing, online advertising, peer-to-peer lending, real estate, and health care industries, and he has collaborated with many companies, including Google AI, Microsoft, Meta, Uber, Waze, Spotify, and L’Oréal. Professor Cohen has been retained as an expert witness and testified at deposition in cases involving user data, pricing practices, and trade secrets. He frequently consults to corporations, retailers, and startups on topics related to data-driven pricing, retail management, AI technologies, and data science. As an advisory board member of several startups, Professor Cohen has helped develop and deploy solutions to business problems using techniques in machine learning, optimization, stochastic modeling, econometrics, and field experiments. He was listed in Poets&Quants’ 40-Under-40 Best MBA Professors and RETHINK Retail’s Top Retail Influencers and was awarded Management Science’s Best Paper Award in Operations and Supply Chain Management. He has coauthored several books, as well as numerous academic papers in leading journals. Professor Cohen serves as the chief AI officer of ELNA Medical, the scientific director of the nonprofit MyOpenCourt, and a scientific advisor in AI at IVADO Labs. Before joining the faculty at McGill University, he was an assistant professor of technology, operations, and statistics at the NYU Stern School of Business and a research scientist at Google AI.
Ms. Mulhern specializes in the application of economic principles to issues arising in complex business litigation. She has served as an expert witness on damages issues in commercial litigation matters, including intellectual property (IP) and breach of contract cases, providing testimony in various district and state courts. Ms. Mulhern’s intellectual property damages experience includes cases involving allegations of patent, copyright, and trademark infringement, as well as misappropriation of trade secrets; she has also provided expert testimony on these issues in Section 337 cases at the International Trade Commission (ITC). Before the ITC, she has testified on a variety of economic issues, such as domestic industry, remedy, bonding, commercial success, and public interest. Ms. Mulhern’s litigation experience spans a variety of industries, including pharmaceuticals, medical devices, automotive, entertainment, consumer products, computer hardware and software, semiconductors, and telecommunications. In non-litigation matters, she has assisted clients in valuing intellectual property and other business assets in the context of strategic alliances and joint ventures. Ms. Mulhern has been recognized as among the top economic experts for IP matters by Intellectual Asset Management (IAM) in the IAM Patent 1000, which identifies leading patent professionals around the globe. She is a member of the American Economic Association and the Licensing Executives Society, and is a frequent writer and speaker on issues related to intellectual property valuation and damages assessment.
Professor Skrzypacz is an expert in industrial organization and market design. His research centers on microeconomic theory and its applications, including collusion, auctions, pricing, and bargaining. In addition to his academic research, Professor Skrzypacz consults on auction strategy and competition issues, and has served as an academic visitor at Yahoo! Research. He has counseled bidders in wireless spectrum auctions in the United States, Canada, the Netherlands, Switzerland, Austria, and Sweden. He has also advised internet companies on design and competition in online auctions, and communication companies on regulation issues.
Professor Skrzypacz has published a number of articles on topics such as using spectrum auctions to enhance competition in wireless services, private monitoring and communication in cartels, and information disclosure. His most recent papers have focused on auction design, dynamic games, and collusion in markets. He is an associate editor of The RAND Journal of Economics and American Economic Review: Insights, and a former coeditor of American Economic Review. Additionally, Professor Skrzypacz is a fellow of the Econometric Society, an economic theory fellow of the Society for the Advancement of Economic Theory, and a senior fellow of the Rimini Centre for Economic Analysis.
Professor Chevalier is an expert in industrial organization, finance, and competitive business strategy. She has provided expert testimony and been deposed in several major antitrust matters, including State of New York v. Intel Corporation, in which she assessed the business strategies of competitors in the semiconductor industry and evaluated market outcomes. An affiliate with Analysis Group, Professor Chevalier, supported by Analysis Group teams, recently served as an expert in litigation involving online search databases, and in several matters involving entertainment industry issues related to rights, prices, and competition. She has also assisted a number of major technology firms with analyses of competition and antitrust issues. Professor Chevalier's academic research focuses on the economics of electronic commerce, the interaction between firm capital structure and product market competition, and price seasonality and cyclicality. Her research has been featured in Slate magazine and on National Public Radio. Professor Chevalier is also an elected member of the American Academy of Arts and Sciences. She is a former member of the American Economic Association's (AEA) Executive Committee and a former board member of the organization's Committee on the Status of Women in the Economics Profession. In 1999, she won the first biennial Elaine Bennett prize, given by the AEA in recognition of research by a woman in any area of economics. Professor Chevalier is an active author. She has published articles in the American Economic Review; Journal of Industrial Economics; Journal of Business; Quarterly Journal of Economics; Journal of Finance; Journal of Law, Economics, and Organization; and Journal of Political Economy. She is a former coeditor of the Rand Journal of Economics and has served as a coeditor of the American Economic Review, editor of the B.E. Journal of Economic and Policy Analysis, advisory editor of Quantitative Marketing and Economics, and associate editor of numerous journals.
Dr. Frot is an economist with specialized expertise in applying quantitative analyses to competition, litigation, regulatory, and business intelligence issues. He advises firms in a wide range of industries, providing economic and econometric expertise on matters related to mergers, market concentrations, cartel investigations, and damages.
Over the years, he has performed numerous economic and econometric analyses in Phase I and Phase II mergers before the French Competition Authority and the European Commission, including Veolia Transport/Transdev, Jardiland/InVivo, Castel/Patriarche, Fnac/Nature & Découvertes, d’aucy/Triskalia, Lactalis/Nuova Castelli, Lactalis/Leerdammer, CMA CGM / Bolloré Logistics, Canal+/OCS, and Suez/Veolia. He has led case teams and performed economic analyses in several prominent horizontal and vertical cartel cases, as well as estimated damages in antitrust litigation and intellectual property matters. He has also assisted companies in modeling and implementing changes to pricing behavior.
His reports have been presented to the European Commission, the French Competition Authority, the Court of Appeals, the Conseil d’État (France’s highest administrative court), the Tribunal of Commerce of Paris, and regulators in the telecommunications, energy, transportation, and gambling sectors. Dr. Frot has published a number of articles in peer-reviewed journals and regularly speaks at international competition law and policy conferences.
Professor Lambrecht is an expert in digital marketing and consumer behavior. Her research focuses on marketing decisions in digital environments – emphasizing online targeting, advertising, promotion, and pricing. In the context of digital marketing, Professor Lambrecht has examined how firms can use retargeting to reach out to consumers; how firms can advertise on Twitter to early trend propagators; the role of position effects on information displayed to consumers online; and, more broadly, the value of big data for firms. In her online pricing work, Professor Lambrecht examines the economics of pricing online services and online promotions, such as daily deals or cashback promotions.
Recently published research explores the role of economics in the context of apparent algorithmic biases. Currently, Professor Lambrecht is studying the value of top positions in organic search results and how users contribute to crowdfunding campaigns. In an additional research stream on price discrimination in service industries, she has focused on the use of multi-part tariffs by service providers such as telecom companies.
Professor Lambrecht has published a number of articles in leading academic journals, such as Marketing Science, Management Science, and the Journal of Marketing Research. Among other awards, she has received the American Marketing Association's Paul E. Green Award and has recently been selected as the winner of the prestigious William F. O'Dell Award. In addition, Professor Lambrecht has held several editorial roles at prominent academic publications.
Professor LaRue has been recognized as an expert in federal and international taxation, financial and cost accounting, and economic and financial analysis in several cases before the US Tax Court, US District Courts, and the US Court of Federal Claims. He has provided invited testimony on tax policy issues before the US House of Representatives Ways and Means Committee and the US Department of the Treasury. As a faculty member at the University of Virginia for 25 years, Professor LaRue taught undergraduate and graduate courses on financial accounting, federal taxation, economic analysis, and international finance and business at the McIntire School of Commerce, and served as the director of its graduate accounting program. He also developed and taught in-house continuing education courses on federal taxation for KPMG; PwC; Ernst & Young; Deloitte Touche; and the NYU School of Law in connection with the Internal Revenue Service’s (IRS’s) Office of Chief Counsel; among others. Professor LaRue has authored articles on various aspects of taxation that have appeared in publications including NYU’s Tax Law Review and the American Bar Association’s The Tax Lawyer. He has chaired and served on committees and task forces for numerous organizations, including the Tax Section of the American Institute of Certified Public Accountants (AICPA), the American Taxation Association, the American Accounting Association, and others. In recognition for his work as an instructor, researcher, and expert, Professor LaRue has won over a dozen teaching awards, including the Virginia Society of Certified Public Accountants’ Outstanding Educator Award and the Ernst & Young Tax Literature Award, as well as commendations from both the US Department of Justice’s Fraud Section and the Criminal Investigation Division of the IRS.
Mr. Starfield specializes in the direction and management of large-scale cases involving complex economic and financial issues. For more than two decades, he has conducted economic analysis and managed case teams in support of leading academic experts in a range of cases, notably a number of matters involving complex securities, including residential mortgage-backed securities, collateralized debt obligations, and credit default swaps. In matters related to the Lehman bankruptcy, he supported multiple experts in assignments related to structured financial products, secured financing, collateral management, derivatives risk exposure, complex accounting topics, and the causes of Lehman's failure. He also managed case teams in the Enron-related litigations involving some of the major settlements emerging from the Enron bankruptcy. In addition, he has worked on a broad range of cases in the investment management area, including numerous matters involving alleged violations of Sections 10b-5 and 11, in which he provided management of many dimensions of financial and economic analysis, including market efficiency, loss causation and materiality, and damages. Mr. Starfield also worked with mutual fund companies, boards, and regulators in some of the most prominent market timing matters. He managed all aspects of financial and economic analysis in a fraudulent conveyance litigation involving one of the largest bank failures in US history, including identification and support of numerous academic expert witnesses who testified on the economics of the banking industry; conditions in real estate markets; the management, operation, and regulation of nationally chartered commercial banks and bank holding companies; and factors that led to bank failures.
He has conducted analyses and served as an expert in numerous matters involving commercial disputes, and also has significant experience in the valuation of large, closely held companies.
In his role as an expert, Mr. Starfield has developed economic and financial models; prepared testimony; developed, presented, and reviewed pretrial discovery; and evaluated the economic and financial analyses of opposing experts. He has provided support to successful testimony on numerous topics involving economics in both bench and jury trials. Outside of litigation, he has assisted clients in a variety of industries with development of business plans and financial projections, frequently involving the use of complex integrated financial models. Formerly a senior manager in the Dispute Analysis and Corporate Recovery Services group of Price Waterhouse, Mr. Starfield is a chartered accountant of South Africa, a member of the South African Institute of Chartered Accountants, and a member of the Association of Chartered Certified Accountants in the United Kingdom.
Mr. Contino specializes in the analysis and valuation of residential mortgage loans and securities, to both market participants and in complex litigation. His expertise extends to the valuation of niche security and loan products (e.g. residuals, resecuritizations, SF rental securities, timeshares, second liens). Clients have included broker-dealers, other investment advisors, bankruptcy experts, REITs, insurance companies, pension funds, and US government-sponsored enterprises, among others. Other government experience includes providing quantitative support to a sale advisor to the US Department of Housing and Urban Development, the Small Business Administration, and the Federal Deposit Insurance Corporation. He provided similar support during the development of the Mortgage Purchase Program for the Federal Home Loan Banks of Cincinnati, Indianapolis, and Seattle. Mr. Contino took two leaves of absence from Sperlinga Advisory to serve as a mortgage hedge fund portfolio manager, with one of those roles overlapping the mortgage market crisis.
As a testifying expert, Mr. Contino has written reports and provided testimony in arbitration as well as in both federal and state court. He served as a consulting expert in a series of cases for the US Department of Labor – Office of the Solicitor, involving mortgage securities and ERISA. His litigation-related experience spans the residential mortgage industry, with disputes involving valuation, suitability, market practices, and intellectual property. The valuation cases have included the spectrum of mortgage loan credit (agency, prime, Alt-A, subprime) and the spectrum of securitization structures (senior and subordinate securities, complex resecuritizations, residuals, and both performing and non-performing whole loans).
Ms. O’Laughlin works with clients on both litigation and non-litigation matters. In the litigation context, she has served as an expert witness and testified at trial, and conducts economic analyses and manages case teams in support of academic and industry experts in a broad range of matters throughout the US and Canada. She has assisted clients in all phases of the litigation process, and has supported expert witnesses in the preparation of reports and other testimony in matters involving merger reviews, antitrust litigation, competition policy, data privacy, labor relations, false advertising, finance, valuation, trademark, intellectual property (IP), and patent infringement. Ms. O’Laughlin also has experience with allegations of exclusionary conduct in various industries, including agricultural products, consumer packaged goods, finance, retail, telecommunications, and technology. She has developed, administered, and analyzed surveys in trademark, IP, antitrust, consumer protection, data privacy, and false advertising matters. In the non-litigation context, Ms. O’Laughlin uses complex research methods and applies innovative analytical approaches to provide new insights on the competitive and market challenges that clients face in managing and expanding their businesses. She publishes regularly on issues related to marketing, economics, litigation, and public policy. Ms. O’Laughlin is bilingual in both of the official languages of Canada, French and English.
Professor Snow is an expert in technology and operations, innovation management, and service management, with a specialization in automotive, health care, aerospace, and growth-stage companies. His research addresses two areas: the complex relationship between new and old technologies during technology transitions; and service operations, particularly the building of theoretical microfoundations to help define the field, and empirical research on operational productivity. Professor Snow has testified in antitrust and competition cases as well as commercial disputes. He has taught at Harvard Business School, The Wharton School of the University of Pennsylvania, Tuck School of Business at Dartmouth College, and BYU Marriott School of Business; presented at a variety of management, innovation, and technology conferences; and written numerous cases for academic use. In 2014, he and coauthor Lamar Pierce received the Olin Award for Research That Transforms Business. Professor Snow is an executive committee member of the Harvard Business School Institutions and Innovation Conference, and a former board member of the Council of Supply Chain Management Professionals.
Professor Srinivasan focuses his research in the areas of marketing, advertising, e-commerce, technology, and innovation. He specializes in applying structured economic models to unstructured data by merging the tools of econometrics and data science (including machine learning techniques). Specific topics he has consulted and published on include the sharing economy, competitive dynamics and pricing in two-sided platforms; machine learning algorithms and their inherent biases; and health outcomes data. Professor Srinivasan has consulted to several Fortune 500 companies. He has founded two startups and served on the boards of both startups and a private equity firm. He has served on the editorial boards of the Journal of Marketing Research, Management Science, Marketing Science, and Quantitative Marketing and Economics. He was a coeditor-in-chief of the Marketing Science special issue on emerging markets. Professor Srinivasan is a former president of the INFORMS Society for Marketing Science. He has been granted several patents on dynamic business models on the internet and has worked closely with patent examiners. His patents have been licensed by a Fortune 3 firm, and he has a deep knowledge of the securing and infringement of patents.
Mr. Gold has more than 20 years of experience applying economics, finance, and statistics to litigation matters. He has been involved in all phases of the litigation process, from pretrial discovery to expert report and trial preparation. Mr. Gold has led teams supporting experts and assisted counsel on a variety of securities, commercial litigation, and intellectual property matters.
Mr. Gold has extensive experience consulting on securities matters, including analyzing market efficiency, estimating damages, conducting event studies, and analyzing potential settlements. He has also submitted expert declarations in civil and criminal securities fraud matters. His experience includes cases involving securities and financial derivatives such as swaps, structured notes, mortgage-backed securities, convertible preferred stock, and options. Mr. Gold has worked on antitrust matters involving the trading of securities, and he has conducted assessments of class certification in cases involving securities fraud, product liability, and false advertising, including analyzing whether liability or damages can be assessed using common proof. His work spans industries such as financial services, legal services, telecommunications, entertainment, health care, and oil and gas. He is the coauthor of “Federal Securities Acts and Areas of Expert Analysis” in the Litigation Services Handbook.
Professor Mayzlin’s research focuses on how businesses manage social interactions, advertising, and communication strategies, including word of mouth and social media. She has filed expert reports and testified at deposition in marketing-related litigation matters, including testimony in a lawsuit involving the way a major e-commerce company aggregated product reviews. In another case, she analyzed allegations that the plaintiff’s competitor had posted fake negative reviews on its Yelp page. Professor Mayzlin has written numerous scholarly articles on social media management, the manipulation of online reviews, measuring online word of mouth, and online influencers. She is also an associate editor at Marketing Science. Her work has earned several awards, including the INFORMS Society for Marketing Science Long Term Impact Award, and been cited more than 15,000 times on Google Scholar. A frequent speaker, Professor Mayzlin has provided keynote addresses at academic conferences worldwide, including the Advertising and Consumer Psychology Conference and the Interactive Marketing Research Conference. She has co-chaired and presented at the Summer Institute in Competitive Strategy at the Haas School of Business at the University of California, Berkeley. Prior to joining the USC Marshall School, where she teaches undergraduate, M.B.A., and doctoral courses, Professor Mayzlin served on the faculty of the Yale School of Management.
Professor Dranove's research focuses on problems in industrial organization and business strategy, with an emphasis on the health care industry. He has published nearly 100 research articles and book chapters, and is the author of six books, including The Economic Evolution of American Healthcare, Code Red, and the textbook The Economics of Strategy, which is used by leading business schools around the world. Professor Dranove regularly consults with leading health care organizations in the public and private sectors. He also has two decades of experience performing and testifying about economic analyses in both litigation and regulatory actions. Most recently, he testified on competition issues for the US Department of Justice in the agency’s effort to block a proposed merger of two commercial health insurers. Professor Dranove concluded that the proposed transaction likely would result in higher prices and less innovation. He also has served on the executive committee and board of directors of the Health Care Cost Institute. Professor Dranove is on the review board of numerous prominent industry journals; he is the editor of the International Journal of Health Economics and Management and an associate editor of the RAND Journal of Economics. He is an elected member of the National Academy of Medicine.
Ms. Okie has conducted economic and financial analyses and managed case teams in support of academic and industry experts across engagements in securities and antitrust litigation, regulatory investigations, bankruptcy matters, arbitrations, and general commercial litigation. Her experience spans a wide variety of sectors and has included fact and expert discovery, class certification, liability and damages, and trial. Her antitrust work includes civil and criminal litigation surrounding a variety of alleged anticompetitive conduct and analyses of competition issues across a range of industries. Ms. Okie has worked on a number of matters at the intersection of antitrust and financial services, including alleged anticompetitive conduct related to foreign exchange rates, municipal bond markets, and financial product trading. She has assessed alleged misrepresentations and omissions in the underwriting of securities, including issues surrounding loss causation, falsity, materiality, and buy-side and sell-side due diligence; analyzed valuation issues in mergers and acquisitions; and evaluated REIT market corporate governance and industry dynamics. In the energy sector, Ms. Okie has estimated damages associated with failed projects; valued rights-of-way; and supported clients involved in market manipulation investigations by the US Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Federal Energy Regulatory Commission (FERC), and state agencies. She has evaluated trading data, market power, and other competitive issues in oil, natural gas, propane, and electricity markets. Ms. Okie has published on many energy; environmental; and environmental, social, and governance (ESG) topics and authored white papers and reports for foundations, regional transmission organizations, and industry organizations. Ms. Okie is vice-chair of the Insurance and Financial Services Committee of the American Bar Association’s Antitrust Law Section.
Mr. Conway is an expert on complex technical accounting, Sarbanes-Oxley compliance, and corporate governance, with 40 years of experience in public accounting. His litigation experience includes preparing expert witness reports, assisting counsel with case strategy, and testimony. Prior to his consulting career, Mr. Conway was the regional associate director of the Public Company Accounting Oversight Board (PCAOB) in Orange County and Los Angeles. At the PCAOB, he inspected audits of the Big Four firms, focusing on revenue recognition, business combination accounting, the valuation of identifiable intangible assets, and impairment testing of goodwill and identifiable intangibles. Mr. Conway has also been the senior professional practice director at CNM, a technical accounting advisory firm, and an audit partner at KPMG, where he served for 26 years. He is the author of The Truth About Public Accounting: Understanding and Managing the Risks the Auditors Bring to the Audit, and he has led a number of corporate seminars on accounting and auditing issues, including at the Stanford Graduate School of Business.
Dr. Strombom is an expert in applied microeconomics, finance, and quantitative and statistical analysis. He provides assistance to attorneys in all phases of pretrial and trial practice, prepares economic and financial models, and provides expert testimony in litigation and public policy matters. Dr. Strombom has conducted assessments of class certification, liability, and damages issues in cases involving antitrust, breach of contract, ERISA, false advertising, intellectual property, labor and employment, product liability, securities, and general commercial disputes.
Prior to joining Analysis Group, Dr. Strombom was Executive Vice President of a middle-market merger and acquisition firm, where he managed a financial and market research organization that provided valuation and consulting services to over 500 privately held companies annually. Previously, he was Consulting Manager at Price Waterhouse, where he provided litigation support and value enhancement consulting services, and Senior Financial Analyst at the Tribune Company, where he evaluated capital projects and acquisition candidates.
Mr. Lawrence is an expert in due diligence, investment practices, and corporate governance. He has testified and been retained as an expert in high-profile securities lawsuits and advised the US Securities and Exchange Commission (SEC) on due diligence and investment practices. In his role at Pacific Financial Group, Mr. Lawrence oversees a portfolio of private equity, marketable securities, and alternative investments. He teaches due diligence at Southern Methodist University, where he founded the Center for Advanced Due Diligence Studies. Mr. Lawrence has published extensively in the field and is the author of Due Diligence in Business Transactions, a leading text in the field for more than 20 years; Due Diligence: Investigation, Reliance & Verification – Cases, Guidance and Contexts; Due Diligence: Law, Standards and Practice; and Due Diligence, a Scholarly Study. His work has been cited by the US District Court for the Southern District of New York, in filings before the US Supreme Court, and in other publications. He has served on boards of directors and on the audit, management, compensation, and executive committees of public and private companies. Prior to his academic and investment career, Mr. Lawrence was a managing partner of an international law firm, where he founded and taught the firm’s due diligence training program, managed its investment fund, and chaired the global technology, media, and telecommunications practice. He has been admitted to the state bars of New York, the District of Columbia, and Texas.
Professor Hart is a leading expert in contract theory, the theory of the firm, and corporate finance. In 2016, he and Professor Bengt Holmström were awarded the Nobel Prize in Economics for their work in contract theory. Professor Hart’s research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. His recent work involves determining how parties can write better contracts, as well as how a new model of corporate governance can better incorporate the importance shareholders place on nonfinancial criteria.
Professor Hart has consulted to businesses and government entities, and provided expert testimony on contract and governance disputes in which he has evaluated the business purpose and economic substance of special purpose entities. As an expert on behalf of Qualcomm in Apple v. Qualcomm, he provided guidance on the optimal structure of contracts, and why and when they should be enforced. His book Firms, Contracts, and Financial Structure is a leading work in the fields of contract theory and corporate finance. He has published widely in peer-reviewed journals and contributed to the Financial Times and The Wall Street Journal. Professor Hart is a member of the IGM (Initiative on Global Markets) Economics Experts Panel of The University of Chicago Booth School of Business, and is affiliated with the Program on Corporate Governance at Harvard Law School’s John M. Olin Center for Law, Economics, and Business. He is a past president of the American Law and Economics Association.
Mr. Gorin has more than 30 years of experience as a strategy and economic consultant with deep expertise in the health care, chemicals, oil and gas, agriculture, and automotive industries. He leads large, complex engagements in antitrust matters, health care strategy, and large commercial litigation cases, providing direct leadership at every stage of engagement, from strategy to implementation. In addition to his own expert work, Mr. Gorin regularly identifies and collaborates with leading academic and industry affiliates. Mr. Gorin's unique experience across industries and practices allows him to leverage his complementary strategic, economic, and specific subject matter expertise to provide pragmatic solutions to address clients' complex business and legal challenges.
Mr. Gorin's work in antitrust and competition cases has included the analysis of alleged anticompetitive behavior and the evaluation of the competitive impact of mergers and acquisitions in strategic, regulatory, and litigation contexts. In these cases, Mr. Gorin has defined and analyzed relevant markets, assessed potential or past competitive impact, simulated the outcome of mergers and acquisitions in the marketplace, and evaluated potential antitrust remedies. As a leading expert in Analysis Group's Health Care Strategy practice, Mr. Gorin works with diagnostic innovators and manufacturers to develop acquisition and growth strategies, create plans to achieve favorable coverage and reimbursement in the United States and international markets, and design and implement evidence development strategies to support coverage and reimbursement goals. In commercial litigation cases, he regularly leads teams and experts to support clients in matters related to liability and damages, such as valuation, economic harm, accounting, corporate governance, and organizational performance and culture.
Prior to joining Analysis Group, Mr. Gorin was a partner in the worldwide Energy, Chemicals, and Pharmaceuticals Group at Booz, Allen & Hamilton, Inc.
Professor Crémer is an expert in industrial organization with a particular focus on competition, contract theory, planning theory, the economics of organization, and the theory of auctions. His recent research examines these issues with applications to the economics of two-sided platforms, industries with network effects, and the Internet, where he examines the effect of new market entrants on incumbent firms, among other competitive issues. Professor Crémer has testified before the European Commission in relation to the AOL-Time Warner merger, and has consulted to clients including Microsoft, Google, Sucre Saint Louis, Intel, GTE, and Time Warner. He has published extensively on a variety of topics, including the consequences of mergers on competition and policy, the costs and benefits of vertical integration, and the value of switching costs. He is the coauthor of the book, Models of the Oil Market, and has contributed to various other books, including the chapter “Switching Costs and Network Effects in Competition Policy” in Recent Advances in The Analysis of Competition Policy and Regulation. Professor Crémer has served in editorial positions for International Journal of Industrial Organization, European Economic Review, and The RAND Journal of Economics, and his work has been published in peer-reviewed journals such as American Economic Review, The Quarterly Journal of Economics, and Journal of Industrial Economics. Professor Crémer is a Fellow of the European Economic Association; a Fellow and member of the Council of the Econometric Society; and a Fellow of the Society for the Advancement of Economic Theory. From 2011 to 2014, he was the Scientific Director at the Toulouse School of Economics (TSE). Prior to that, he served as the Director of Institut d'Economie Industrielle (IDEI), a research institute of the Toulouse School of Economics focused on partnerships with government and industry. He also manages the Jean-Jacques Laffont Digital Chair at the TSE and is a member of the French Digital Council (Conseil National du Numérique).
Ms. Pike applies her expertise in health economics, statistics, and large administrative claims and transaction-level databases to help resolve complex litigation and strategic business questions in a variety of contexts, including matters involving the False Claims Act, Anti-Kickback Statute, and Controlled Substance Act. She has performed economic analyses and presented findings to US Attorney's Office investigators in numerous cases involving allegations of off-label promotion, kickback, and pricing issues. Ms. Pike also applies economic theory and empirical estimation methods in a variety of product liability, breach of contract, intellectual property, and transfer-pricing engagements. She has extensive experience in developing flexible damages models for real-time use in high-stakes negotiations.
Ms. Pike has been instrumental in developing bespoke suspicious order monitoring programs; building internal analytical programs to assess the risk of theft or diversion; and assisting manufacturers, wholesalers, and pharmacies in responding to government investigations and/or lawsuits related to controlled substance distribution and dispensing. She has managed a range of health care cases involving analysis of future lost profits; economic analysis of physician payment structures under capitation; studies of the cost effectiveness, budget impacts, and direct and indirect costs of illness associated with a variety of diseases; and pricing analyses for large multinational corporations across numerous industries. Ms. Pike has published numerous articles on related topics in health care economics and clinical journals.
Professor Miller is an economist whose research interests include public finance, labor economics, health economics, and industrial organization. Her research has covered Medicaid expansion, workplace competition and labor supply, financing of employment-based health insurance plans, and effects of COVID-19 shutdowns, among other topics. She has received research funding from the US National Science Foundation (NSF), National Institutes of Health (NIH), Agency for Healthcare Research and Quality (AHRQ), and Department of Defense (DoD). Professor Miller is an associate editor of The Leadership Quarterly and the ILR Review, and has published articles in peer-reviewed journals, such as the Journal of Labor Economics, the Journal of Health Economics, The Journal of Human Resources, and The Review of Economic Studies. She served two terms on the board of the American Economic Association’s Committee on the Status of Women in the Economics Profession. Professor Miller is a recipient of the Excellence in Reviewing Certificate from Labour Economics, the IZA Young Labor Economist Award, and the WHITE Award for Best Paper on Health IT and Economics. Professor Miller has also worked as an economist with the RAND Corporation.
Professor Statman’s research focuses on behavioral finance. Specifically, he endeavors to understand how investors and managers make financial decisions, and how these decisions are reflected in financial markets. The questions he addresses in his research include what investors want and how to balance those wants; investors’ cognitive and emotional shortcuts, and how to overcome related errors; how these wants, shortcuts, and errors are reflected in saving, spending, and portfolio construction choices; and how these choices are reflected in asset pricing and market efficiency. He has consulted to several investment companies and given presentations on his work worldwide.
Professor Statman’s most recent book is Behavioral Finance: The Second Generation. His research has been published in The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, the Journal of Financial and Quantitative Analysis, Financial Analysts Journal, and The Journal of Portfolio Management, among other publications. He is an associate editor of the Journal of Behavioral Finance and the Journal of Investment Management, and also serves on the advisory board of several publications. His research has received several awards – including two Bernstein Fabozzi/Jacobs Levy Awards, the Matthew R. McArthur Industry Pioneer Award, and the William F. Sharpe Best Paper Award – and has been supported by the National Science Foundation, the CFA Institute Research Foundation, and the Investment Management Consultants Association.
Paul E. Greenberg, Director of Analysis Group’s Health Care Practice, consults to pharmaceutical, biotechnology, and medical device companies in complex business litigation matters. Mr. Greenberg’s litigation experience has included performing economic and statistical analyses in support of testifying experts, as well as presenting findings to investigators from US Attorneys’ Offices and the Office of the Inspector General in numerous cases in which violations of the False Claims Act and/or the Anti-Kickback Statute have been alleged. Mr. Greenberg has provided economic consulting support in connection with class certification, liability, and damages in cases involving allegations of product failure, product fraud, antitrust, and/or patent infringement in the biopharmaceutical industry. He has provided strategic assistance to counsel at various key points in litigation, including pretrial discovery, settlement negotiations, and trial preparation. In the area of health economics and outcomes research (HEOR), Mr. Greenberg has undertaken cost-of-illness studies relating to numerous psychiatric and physical disorders, as well as pharmacoeconomic assessments of the cost-effectiveness of drugs based on data gathered in clinical trials and/or administrative claims files. Mr. Greenberg’s work in HEOR has been widely published in leading medical and health economics journals. He currently serves on the editorial boards of PharmacoEconomics, the Journal of Medical Economics, and Expert Opinion on Pharmacotherapy, and he previously served on the editorial boards of Law360’s Life Sciences and Health Care electronic newsletters.
Ms. Mills is an expert in US and international accounting and financial reporting issues, with over 30 years’ experience in the financial services industry. As the founder and president of Accounting Policy Plus, she has a deep knowledge of accounting issues in complex transactions and a strong track record of developing, implementing, and applying new accounting policies. Ms. Mills also has an extensive record as an expert witness, and has testified and filed expert reports on issues that include hedge accounting, structured transactions, securitizations, variable-interest entities, repurchase agreements, and the valuation of a complex portfolio of derivatives.
Prior to founding Accounting Policy Plus, Ms. Mills was a managing director at Morgan Stanley, where she oversaw the financial reporting and accounting policy departments. In that role, she spearheaded major policy implementation initiatives and met regularly with senior policymakers at the US Securities and Exchange Commission (SEC), the Federal Reserve System, the US Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). Ms. Mills also advised business units on structuring trades, oversaw SEC reporting and accounting compliance, and developed comprehensive training in generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) for all finance personnel. She held a similar role at Merrill Lynch, where she also implemented a Sarbanes-Oxley governance framework and designed internal control requirements. Ms. Mills is a certified public accountant (CPA).
Professor Denis’s research examines corporate governance, corporate financial policies, corporate organizational structure, corporate valuation, and entrepreneurial finance. He has taught courses on corporate financial management, venture capital, and investment banking in M.B.A., Ph.D., and executive education programs. He has also consulted extensively to private companies, law firms, and government agencies on various aspects of financial markets and securities, including bankruptcy reorganization, payout policy, credit ratings, corporate restructuring, stock prices, corporate valuation, corporate governance, capital acquisition, executive compensation, mortgage-backed securities, and collateralized mortgage obligations. Professor Denis has published more than 50 articles in leading peer-reviewed journals, and coedited a book on corporate restructuring. He has served in editorial roles for a number of journals, including The Journal of Finance, The Review of Financial Studies, The Journal of Financial Research, the Journal of Corporate Finance, and Annals of Finance. He is a past president of the Financial Management Association International.
Dr. Ugone specializes in the application of economic principles to complex business disputes and is experienced in economic and damages-related analyses. He has provided financial and economic consulting services in cases involving antitrust, breach of contract, class certification, intellectual property, professional negligence, and securities-related issues. Dr. Ugone has frequently evaluated lost profits and valuation-related issues using large databases and complex computer models.
Dr. Ugone has constructed or evaluated damages models that have included such components as lost sales analyses, incremental cost analyses, assessments of profitability, assessments of the capacity to produce additional units, the competitive business environment in which a damage claim is made, claimed lost business value, and claimed reasonable royalties. He has performed economic liability analyses in antitrust matters including defining relevant markets, assessing market power, and evaluating alleged anticompetitive behavior. In consumer product class action matters, Dr. Ugone has addressed economic- and damages-related issues relating to classwide proof of claimed economic harm and price premium claims, including analyses of demand drivers affecting consumer purchase decisions and product pricing patterns observed at wholesale and retail levels. With respect to patent infringement matters, he has performed lost profits-related and reasonable royalty-related analyses.
Dr. Ugone has testified at trial and in deposition approximately 600 times.
Ms. Pinheiro has an extensive background in quantitative analysis and data science, which she has applied to various practice areas, including finance, intellectual property, biostatistics, and antitrust. In finance, she focuses on cases involving allegations of market price manipulation, misleading communications, excessive mutual fund fees, and mortgage-backed securities litigation. In particular, she has been retained by the US Department of Justice, regulatory agencies, banking institutions, and market exchanges to consult, advise, and testify on matters involving allegations of spoofing and price manipulation, as well as corresponding detection approaches. She has also applied survey analysis and statistical modeling to various intellectual property cases, including patent disputes among smartphone manufacturers, copyright tariff setting for musical works, and patent infringement in the pharmaceutical industry. She has extensive experience analyzing clinical trial, registry, and insurance claims data for both litigation and research purposes and has published manuscripts on pharmacoeconomic issues. In the antitrust field, she has acted as an expert and supported other experts in class certification and price-fixing matters involving a wide range of industries, including online search engines, computer chips, liquid-crystal display (LCD) panels, airline ticketing services, gaming, and grocery stores. Ms. Pinheiro has also authored expert reports and testified on questions relating to the modeling and calculation of royalties and damages.
Prior to joining Analysis Group, Ms. Pinheiro served as executive director of the finance group of CIRANO, where she conducted applied research projects in collaboration with private and public partners, including work on hedge funds, style analysis, credit and operational risk, and the development of integrated risk management tools for practical applications.
Professor Stavins is a leading expert in environmental and natural resource economics. He has consulted to public, private, and governmental organizations, and has served as an expert in dozens of matters.
In his energy-related work, Professor Stavins focuses on domestic and international climate policy; design and implementation of market-based policy instruments (e.g., tradable permits); the competitive effects of regulation; assessment of environmental regulation costs; and environmental benefit valuations. His natural resource work focuses on water, agriculture, and forestry. He is actively involved in advising public officials and government agencies on environmental policy. Professor Stavins was a member of the Energy and Environmental Markets Advisory Committee at the US Commodity Futures Trading Commission, and is a former chairman of the Environmental Economics Advisory Committee of the US Environmental Protection Agency’s Science Advisory Board. He has consulted to several presidential administrations, the US Congress, the US Agency for International Development, the World Bank, the United Nations, the National Academy of Sciences, state and national governments, environmental advocacy groups, private foundations, trade associations, and corporations.
Professor Stavins has over 30 years of teaching experience and holds numerous academic positions at Harvard, including as director of graduate studies for the Ph.D. program in public policy and Ph.D. program in political economy and government, and as co-chair of the Harvard Business School/Harvard Kennedy School joint degree program. His research on environmental, natural resource, and energy economics has appeared in over 100 articles in academic journals and popular periodicals, as well as in more than a dozen books.
Professor Desai has more than two decades of experience in tax policy, international finance, and corporate finance. His research has focused on the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. Professor Desai has consulted to companies and organizations on tax- and finance-related topics, and he has testified several times before the US Congress, including in a joint session of the Senate Finance Committee and the House Ways and Means Committee. His research has appeared in leading economics, finance, and law journals, and has been cited in media outlets such as The Economist, Businessweek, and The New York Times. His book The Wisdom of Finance was longlisted for the Financial Times and McKinsey Business Book of the Year Award. Professor Desai has also published on international tax issues such as the costs of shared ownership, with a focus on international joint ventures. He is a research associate in the National Bureau of Economic Research’s (NBER’s) Public Economics and Corporate Finance programs, and previously served as co-director of the NBER’s India program. He is also on the advisory boards of the International Tax Policy Forum and the Oxford University Centre for Business Taxation. Earlier in his career, Professor Desai was an analyst at CS First Boston.
Mr. Gustafson applies his expertise in economics, econometrics, and modeling to litigation, complex business issues, and the analysis of public policy issues. He has worked extensively in the areas of health care, insurance, employment, data privacy, ERISA, finance, intellectual property (IP), commercial damages, and class certification.
In his litigation work, Mr. Gustafson has provided deposition, arbitration, and trial testimony related to the economics of identity theft, physician compensation, the reasonable value of medical services, retirement benefits, employment compensation, lost earning capacity, and commercial damages, and he has critiqued plaintiffs’ proposed damages formulas in several class actions. His case work has involved evaluating claims of excessive investment fees in corporate 401(k) defined contribution plans, assessing the reasonable value of medical services for physicians and hospitals, analyzing health insurance claims to identify instances of alleged fraud and inappropriate billing by hospital providers, and auditing risk-pool reconciliations that set the level of at-risk payments to a hospital group and its physician partners. He has worked on several privacy-related class actions, providing testimony related to the economics of identity theft and damages, as well as supporting privacy, damages, survey, and technical experts.
Mr. Gustafson has worked with clients to perform affirmative pay equity studies and develop methodologies to address identified disparities. He has explored economic issues associated with a wide range of insurance products, including disability, health, life, product liability, and property insurance, as well as variable annuities. Mr. Gustafson also has experience in a variety of ERISA matters, including those related to health care plans, benefits, and insurance claims. Additionally, he has extensive experience assembling and analyzing large, proprietary datasets common in pay equity, insurance, and health care engagements. Prior to joining Analysis Group, Mr. Gustafson was the business manager in Tokyo for an international nonprofit. He also taught economics as a course assistant at the Harvard Kennedy School.
Professor Mizik is an expert in marketing strategy, valuation of intangibles, earnings management, and executive compensation in a range of industries, including health care. Her research centers on examining the consequences of marketing strategies and activities on financial performance, developing new metrics for marketing assets, and building empirical models to assess the value of intangible marketing assets. Professor Mizik has developed econometric analyses of sales, examined issues related to brand valuation, and researched evidence of real activity and accounting manipulations to artificially inflate reported earnings. She has served as an expert witness for a major pharmaceutical company in a false advertising case. Professor Mizik has published articles in a number of academic marketing and management journals. Prior to joining the Foster School, she served on the faculties of Columbia Business School and the University of North Carolina at Chapel Hill, and as a visiting professor at the MIT Sloan School of Management. She is a past member of the American Marketing Association Academic Council and has served as treasurer of the INFORMS (Institute for Operations Research and the Management Sciences) Society for Marketing Science.
Professor Hubbard is a leading expert in public economics, corporate and institutional finance, macroeconomics, antitrust, and industrial organization. He has provided trial and deposition testimony in numerous litigation matters, including more than a dozen cases in the Delaware Chancery Court. He has also served as a testifying expert in several high-profile finance- and securities-related cases, as well as on damages issues in antitrust matters. Professor Hubbard has consulted to several government and international agencies, including the US Department of the Treasury, the US International Trade Commission, the US Securities and Exchange Commission, the World Bank, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Congressional Budget Office. From 2001 to 2003, he served as chairman of the President’s Council of Economic Advisers.
Professor Hubbard has published more than 100 scholarly articles and coauthored several books, including the widely used textbook Money, the Financial System, and the Economy. His commentaries have appeared in Businessweek, The Wall Street Journal, The New York Times, the Financial Times, and The Washington Post, as well as on PBS television and NPR radio business programs. A frequent speaker, Professor Hubbard has presented his research at economic conferences throughout the world.
Ms. Resch has extensive experience consulting on finance, financial economics, and accounting issues in complex litigations and arbitrations, with a particular focus on international arbitration. She is a testifying expert, specializing in the quantification of economic damages in both international arbitration and litigation. Ms. Resch has advised on valuation issues such as cost of capital and valuation discounts and premia. Her damages and valuation work has spanned disputes over complex financial instruments; oil and gas contracts; government expropriation matters; and shareholder disputes throughout the UK, Russia, Central Asia, and South America in both commercial arbitration and investment treaty arbitration. She has also consulted on state aid proceedings in the banking industry and provided damages assessments in litigation matters before the UK High Court of Justice. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.
Throughout his more than 40-year career, Professor Longstaff has developed a deep knowledge of all aspects of financial valuation. He is known for developing the Longstaff-Schwartz model, a multi-factor short-rate model; and the Longstaff-Schwartz method for valuing American options by Monte Carlo simulation. These valuation models have been used widely on Wall Street and throughout the global financial markets. He regularly consults to financial institutions, including mutual funds, hedge funds, and commercial banks, as well as to risk management firms. Professor Longstaff has taught at UCLA since 1993, and his research includes fixed income markets and term structure theory, derivative markets and valuation theory, credit risk, computational finance, liquidity and its effects on prices and markets, and the role of arbitrage in financial markets. Earlier in his career, he served as the head of fixed-income derivative research at Salomon Brothers, Inc., in the research department of the Chicago Board of Trade, and as a management consultant for Deloitte Haskins & Sells. Professor Longstaff has published more than 70 articles in academic journals, including The Journal of Finance, American Economic Review, and the Journal of Financial Economics. He is a certified public accountant and a CFA charterholder.
Dr. Van Audenrode is an expert in data analysis and econometrics, labor economics, antitrust and competition policy, and public economics. He has consulted to clients - including law firms and government agencies - in Canada, the US, and Europe. Dr. Van Audenrode’s work includes developing a methodology to value desktop software; he also developed expertise valuing goods as varied as restaurant franchises, executive stock options, or smartphone features. His recent work in public economics includes evaluating the economic rent from hydroelectricity to the Canadian economy and the value of logging rights on the ancestral territory of a Canadian First Nation. In the area of labor economics, his work has included filing an expert report assessing fair compensation for Quebec provincial judges and Quebec prosecutors and advising Quebec’s commission on pay equity. Dr. Van Audenrode has filed expert reports in courts in the US, Canada, Belgium, Germany, France, and the Netherlands, and has testified in Canada and the US. He recently filed a report with the Amsterdam Court of Appeal in support of the settlement reached between Ageas and claimant organizations in the Fortis case, the largest settlement ever reached through the Dutch Collective Settlement Act (WCAM). Dr. Van Audenrode’s scientific research and articles have been published in numerous peer-reviewed academic journals and trade journals. He is a coauthor of the book The Mutual Fund Industry: Competition and Investor Welfare, and is a frequent presenter at industry and academic conferences.
*Marc Van Audenrode srl
Professor Steckel's primary research areas include marketing and branding strategy, marketing research, direct marketing, consumer response to marketing strategy, and management decision making. Professor Steckel has consulted, testified as an expert witness, and conducted modeling and analysis in numerous cases involving antitrust, damages assessment, trademarks, marketing and branding strategy, forecasting, and the statistical analyses of market response. He has analyzed industries including telecommunications, consumer products, financial services, pharmaceuticals, apparel, retail, and health care. He was the founding president of the INFORMS Society for Marketing Science, served six years as the chair of NYU Stern School's marketing department, and is currently the vice dean of the Ph.D. programs at NYU Stern.
Professor Steckel also has published numerous articles in such peer-reviewed journals as the Journal of Marketing Research, the Journal of Retailing, Marketing Science, Interfaces, and the Journal of Consumer Research.
Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 30 years of experience applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for merger review, regulatory investigations, and large private litigations. Working with affiliate David Dranove on behalf of the US Department of Justice, she led the case team that successfully challenged the proposed merger of Anthem and Cigna. She has managed economic analyses related to antitrust issues in more than 100 matters during her career, including numerous government, competitor, and consumer matters on behalf of MasterCard over more than two decades, and on behalf of Microsoft during a similar period. Ms. Samuelson has also provided analysis of issues of class certification, liability, and damages in a broad set of technology- and financial services-related cases, and has analyzed economic issues related to government investigations and mergers involving companies in technology and health care. She has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.
A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented before a number of legal audiences and at leading academic institutions, including the American Bar Association (ABA)’s Antitrust Section Annual Spring Meeting, the New York State Bar Association (NYSBA)’s Annual Antitrust Law Section Meeting, the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management. She has also participated in numerous legal and economic conferences and seminars. In one representative example, Ms. Samuelson moderated a panel at the US Federal Trade Commission and US Department of Justice joint public workshop on most-favored nation clauses, and subsequently coauthored an article on the program in the ABA Antitrust Section Joint Conduct Committee’s newsletter. Ms. Samuelson was named as one of Global Competition Review’s Women in Antitrust 2016, and she is frequently included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. She has served as a vice chair of the ABA’s Trial Practice Committee of Antitrust Law.
In addition to her economic consulting work, Ms. Samuelson serves as CEO and Chairman of Analysis Group, one of the largest economic consulting firms in the United States. She previously served as President and CEO (beginning in 2004), and prior to that as co-CEO (beginning in 1998). Since joining Analysis Group in 1992, Ms. Samuelson has played a key role in the company’s growth and diversification and has brought significant new clients, academic affiliates, and professional staff to the firm. Under her guidance, Analysis Group has been named (by Vault) as one of the top 50 consulting firms in the US for several years running. In Massachusetts, the firm has been consistently named in the annual Top Places to Work ranking by The Boston Globe, and the Top 100 Women-Led Businesses in Massachusetts listing by the Commonwealth Institute and Boston Globe Magazine. Ms. Samuelson is also the chair of the Boston Medical Center Hospital Board of Trustees.
Professor Jena is a health economist, practicing internal medicine physician, and professor of health care policy. His work involves several areas of health economics and policy, including the economics of medical innovation, the economics of physician behavior and the physician workforce, medical malpractice, and the economics of health care productivity. Professor Jena has been retained as an expert in several pharmaceutical and health care industry matters.
A prolific author, Professor Jena is the coauthor of the book Random Acts of Medicine, and he has contributed to more than 150 peer-reviewed articles and articles intended to increase patient understanding, published in outlets including The New England Journal of Medicine and The New York Times. He is a faculty research fellow at the National Bureau of Economic Research and serves on Harvard Medical School’s Standing Committee on Health Policy. Professor Jena is a recipient of the NIH Director’s Early Independence Award to fund research on the physician determinants of health care spending, quality, and patient outcomes, and a recipient of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) New Investigator Award. In 2018, he was listed among 100 great leaders in health care by Becker’s Hospital Review.
Dr. Heavner has consulted on a wide variety of litigation topics, including ERISA, securities, and antitrust. In all of these areas, he has analyzed issues related to class certification, liability, and damages. Dr. Heavner’s ERISA case work includes supporting experts in dozens of ERISA litigations, including at least six cases in which our clients prevailed at trial. He has also served as an expert in ERISA class action litigations. Dr. Heavner has written and presented on a variety of topics related to investments and retirement plans, including the article “Expert Analysis of Plan Losses in ERISA Class Action Litigation.” His securities litigation experience includes directing the support of expert witnesses in many of the largest mutual fund excessive fee actions ever filed, including four such cases that culminated in trial victories for our clients. His other finance and securities case work includes cases involving allegations of securities fraud, imprudent asset management, and investment suitability. In Florida State Board of Administration v. Alliance Capital Management, Dr. Heavner directed the support of expert witnesses retained on behalf of Alliance Capital. This case culminated in a trial in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund. The National Law Journal declared the verdict one of the top ten defense wins of the year. Dr. Heavner’s antitrust experience includes matters involving allegations of collusion (including alleged concerted refusals to deal), anticompetitive vertical restraints of trade, predatory pricing, illegal price discrimination, mergers, and standards setting. He has earned Accredited Investment Fiduciary® designation and has been a member of the Analysis Group 401(k) Committee since 2009. He formerly taught economics and finance at Tulane University’s A.B. Freeman School of Business.
Mr. Yackira is an expert on business strategy, and on corporate finance and development in the energy sector. He is a former executive with experience developing operating strategies for company transformation, and he has served on the boards of several public companies. Mr. Yackira was one of three independent directors as well as chair of the audit committee at 8point3 Energy Partners, a publicly traded “yieldco” formed by First Solar and SunPower. Previously, he was the CEO and CFO of NV Energy. During Mr. Yackira’s tenure, the company’s assets grew from approximately $7 billion to $12 billion over the course of 10 years, primarily from investments in electric power plants and increased company-owned generating capacity. His responsibilities included developing strategies to improve financial health and operating performance, as well as regulatory and investor relationships. Mr. Yackira also served on the board of directors at the Edison Electric Institute for seven years, including as vice chairman and chairman. Earlier in his career, he spent more than a decade with FPL Group (now NextEra Energy) in various senior-level positions, including CFO of both the parent company and its Florida Power & Light subsidiary, as well as president of FPL Energy during a strategic expansion that led it to become the largest energy company in the US.
Professor LoSasso’s research spans several dimensions of health economics and health services research, focusing on how government policies affect private sector decisions. He has studied the impact of the State Children’s Health Insurance Program on insurance coverage among children and the extent to which public coverage “crowded out” private coverage. In addition, Professor LoSasso has examined how community rating regulations affected individual health insurance coverage. His research has also addressed the effects of health savings accounts and other high-deductible health insurance products on service use and spending. Professor LoSasso’s research has appeared in leading academic journals, including Health Affairs, The Journal of Health Economics, The Journal of Public Economics, and The Journal of Risk and Insurance. He is an associate editor at Medical Care Research and Review and serves on the editorial board of Health Services Research and Journal of Community Health. In addition to his academic research, Professor LoSasso has provided expert testimony in numerous matters pertaining to the appropriateness of FAIR Health methodology for use as health care charge benchmarks, as well as for use in workers’ compensation medical reimbursement disputes. He is a former executive director of the American Society of Health Economists (ASHEcon).
Dr. Pearlson is an expert in cybersecurity whose research spans management information systems, business strategy, and organizational design, as well as the development of a culture of cybersecurity to support the mitigation of cyber breaches. She also has experience in information management topics such as information systems leadership responsibilities, reengineering of business process design, and reasonable information protection practices. Dr. Pearlson has testified in litigation. She has also consulted to chief executives at established companies and startups on information technology (IT) strategy, and has led IT leadership development programs. Dr. Pearlson is a founder and managing partner of KP Partners, an advisory and executive education firm for chief information officers (CIOs), chief analytics officers (CAOs), and chief information security officers (CISOs). She is also founder and executive director of the Executive Networks IT Leaders Forum, and the founding director of the Analytics Leadership Consortium at the International Institute of Analytics. Dr. Pearlson is coauthor of Managing and Using Information: A Strategic Approach and Zero Time: Providing Instant Customer Value – Every Time, All the Time! She is a frequent guest speaker and has held positions in academia and industry, including at Babson College, The University of Texas at Austin, the Gartner Research Board, CSC Index, and AT&T.
Dr. Vigil specializes in the application of economics and finance to complex commercial litigation matters. His work includes the estimation of damages and unjust enrichment in intellectual property (IP), breach of contract, and false advertising cases; the evaluation of patented drug products’ commercial success in connection with generic manufacturers’ Abbreviated New Drug Application submissions to obtain early market entry; and the analysis of issues related to the granting of permanent injunctions, such as irreparable harm and causal nexus. Dr. Vigil has also analyzed issues related to domestic industry, remedy, and bonding on cases before the International Trade Commission.
Dr. Vigil has served as an expert witness on litigation matters in a variety of industries, including pharmaceuticals, medical devices, consumer products, telecommunications, computer hardware and software, and electronics. In non-litigation matters, he has assisted clients in valuing IP for sale or license; identifying and evaluating potential partners for licensing, acquisition, or divestiture of assets; and analyzing the impact of generic entry on prices and market shares of brand name pharmaceutical products.
Dr. Vigil is a member of the American Economic Association, the American Marketing Association, and the Licensing Executives Society, and is a frequent speaker on issues related to IP, valuation, and damages assessment. He has also taught courses in microeconomics and econometrics at the University of Maryland.
Professor Stuart specializes in intellectual property, corporate strategy, and entrepreneurship, and has conducted analyses of firms' incentives to innovate. He has provided expert consulting services to numerous companies, and teaches M.B.A., doctoral level, and executive education courses in corporate strategy, mergers and acquisitions, technology strategy, and entrepreneurship.
Professor Stuart's academic research focuses on the formulation of firm strategies in a number of industries; the formation, governance, and consequences of strategic alliances; organizational design and new formation in established firms; and venture capital networks and the role of networks in the creation of new firms. He is a recipient of the Kauffman Prize Medal for Distinguished Research in Entrepreneurship and of Administrative Science Quarterly's Scholarly Contribution Award for best paper.
A prolific author, Professor Stuart has published several book chapters and numerous articles in peer-reviewed journals, including Administrative Science Quarterly, Strategic Management Journal, Management Science, Research Policy and Industrial and Corporate Change. He is a past or present editorial board member of these journals, and a former associate editor of the American Journal of Sociology.
Professor Knittel’s research focuses on industrial organization, applied econometrics, and energy and environmental economics. He has provided trial and deposition testimony in a number of litigation matters, including valuing product features in smartphones, PCs, and contact lenses. He has also consulted to Delta Airlines, Ford Motor Company, the US Energy Information Administration, and Korea Electric Power Company. Professor Knittel has authored or coauthored numerous articles on topics such as market structure and product pricing, tacit collusion, and challenges in merger simulation analysis. Examples of his research include articles on the spurious correlation between ethanol production and gasoline prices, unilateral market power in the electricity reserves market, and tacit collusion in credit card markets. His research has appeared in the American Economic Review, the American Economic Journal: Macroeconomics, the American Economic Journal: Economic Policy, The Review of Economics and Statistics, The Journal of Industrial Economics, and The Energy Journal, among other academic publications. He is a former coeditor of the Journal of Public Economics and serves or has served as an associate editor for several other scholarly journals, including the American Economic Journal: Economic Policy, The Journal of Industrial Economics, the Journal of Transport Economics and Policy, and The Journal of Energy Markets. Professor Knittel is a research associate at the National Bureau of Economic Research (NBER) in the Productivity, Innovation, and Entrepreneurship and Industrial Organization programs, and he co-directs the Environment and Energy Economics program.
Ms. Swallow provides strategic expertise to life sciences companies and policymakers. She specializes in applying quantitative methods to real-world problems involving evaluation, decision making, strategy, and public policy in the health care and social policy sectors. She has more than 15 years of experience leading data analytics implementation, real-world evidence (RWE) generation, regulatory submissions, analytic platform design, and trial design. Ms. Swallow’s expertise includes regulatory-grade indirect treatment comparisons, survey research, database analyses, natural history studies, brand strategy, policy evaluation, RWE development, individualized medicine, and predictive analytics. Additionally, she has led health and social policy program evaluations. Ms. Swallow has worked across disease areas, including obesity, rare diseases, immunology, multiple sclerosis, hematology, oncology, and renal disease. Her work has been used to inform regulatory and reimbursement decisions in US and global markets, published in numerous peer-reviewed journals, and presented at dozens of clinical and economic research conferences.
Mr. Hibbard is an expert on economics, strategy, regulation, and policy in the electric and natural gas industries. He has a comprehensive background merging business development, technical analysis, resource planning and development modeling, economics, and public policy in the energy and environmental fields. Mr. Hibbard has provided technical and strategic advice to government, industry, business, public interest groups, and trade organizations on energy market structure, electric and natural gas infrastructure planning and siting, utility resource solicitation and procurement, emission allocation and environmental policy, renewable resource program design and administration, transmission pricing, climate change policy, utility ratemaking practices, and the transfer of US federal and state emission control programs to other countries.
Prior to joining Analysis Group, Mr. Hibbard was chairman of the Massachusetts Department of Public Utilities. During his tenure, he carried out a forward-looking ratemaking and policy agenda to advance energy efficiency and renewable resources, coordinate regional efforts in the development of energy resources and associated infrastructure, and promote the administration of fair and efficient transmission pricing models in regional and national contexts. He also has provided testimony on resource planning, competitive electricity markets, and transmission pricing in hearings before committees of the Massachusetts legislature and the US House of Representatives, the Federal Energy Regulatory Commission (FERC), and state and regional planning councils. Mr. Hibbard has also served as a member of many energy-related boards and committees.
Dr. Sun is an anesthesiologist and health economist with expertise in perioperative and pain medicine, population health, and public health policy. His research explores issues of health through clinical and economic lenses, and has examined topics such as the influence of drug and physician pricing on medical outcomes; physicians’ responses to payment program incentives; the economics of medical innovation, including the value of new technologies to patients and society; and methods for lowering the use of opioids in pain management. From 2019 to 2020, he served as a senior health economist on the President’s Council of Economic Advisers. Dr. Sun coauthored the book Health and Wealth Disparities in the United States, and cowrote the chapter “Do We Need the FDA? Improving the Regulation of Pharmaceutical Products” in Regulation vs. Litigation: Perspectives from Economics and Law. He has published articles in The American Journal of Managed Care, the Annals of Internal Medicine, Forum for Health Economics & Policy, Health Affairs, JAMA, JAMA Internal Medicine, the Journal of Health Economics, and The New England Journal of Medicine, among other journals. He is an associate editor of Anesthesia and Analgesia and Anesthesiology. Dr. Sun’s committee memberships have included serving on the Committee on Evidence-Based Clinical Practice Guidelines for Prescribing Opioids for Acute Pain of the National Academies of Science, Engineering, and Medicine.
Dr. Weglein is an economist who testifies and supports testifying experts in complex antitrust and securities litigation and in international arbitrations. He has testified on behalf of several large banks (market definition, competitive effects, and damages) in an antitrust case involving municipal bond markets and testified on damages in a major arbitration in the shipping industry. He led a team of consultants working with counsel in Apple’s successful defense against antitrust claims brought by Epic Games. Dr. Weglein co-led a team working on behalf of three traders in the US v. Richard Usher, et al. criminal antitrust case in the foreign exchange market and in subsequent litigation brought by the US Treasury; he also co-led a team of consultants supporting the US Department of Justice (DOJ) in its successful efforts to block the Anthem/Cigna merger. He has worked in private litigation brought by health care providers against payers, several qui tam matters in health care markets, and various matters involving the health care provider and pharmaceutical markets. Dr. Weglein serves as Analysis Group’s representative to the advisory board of the New York International Arbitration Council. He has made presentations to The Knowledge Group, Global Competition Review, the New York State Bar Association, the Moot Alumni Association, and at the DOJ, and has coauthored numerous publications.
Ms. Stamm specializes in the application of finance and accounting to problems in complex business litigation. She has testified on damages arising out of general commercial disputes and intellectual property matters and provided consulting expertise, including assistance with pretrial discovery, development of economic and financial models to analyze damages, critique of analyses of opposing experts, and preparation of expert reports and testimony. She has also conducted analyses relating to the valuation of financial instruments, valuation of private companies, and lost profits. In non-litigation matters, Ms. Stamm has assisted numerous businesses in varied industries with the development of business plans and financial projections, often through the use of complex integrated financial models. Ms. Stamm is a certified public accountant and a member of the Massachusetts Society of Certified Public Accountants, where she has served on the litigation support committee. She is also a frequent speaker at conferences and seminars on topics related to securities and intellectual property litigation, and has published articles on valuation and patent damages.
Professor Lys is an expert in accounting and finance, including real estate finance, financial reporting, securities analysis, and M&A. He has testified on issues related to valuation, corporate governance, corporate finance, disclosures in M&A, fairness opinions, antitrust, GAAP compliance, taxes, and contract disputes on behalf of US and foreign government agencies and corporate clients.
Professor Lys’s research interests include risk arbitrage, labor participation in corporate decisions, auditor liability, behavioral finance, negotiations, and earnings forecasts. He has published numerous working papers and articles in refereed journals, as well as a book on negotiation that integrates the rational models of economics with the less-than-rational models of psychology. He also has edited two volumes of Karl Brunner’s work, as well as two book chapters in edited volumes. His research investigates analyst earnings forecasts and stock valuations; efficiency of analyst earnings forecasts; the ability of security analysts to learn from experience; stock price behavior following earnings announcements; properties of estimators of autocorrelation coefficients; the impact of transaction costs for market efficiency; M&A; and investors’ interpretations of corporate social responsibility initiatives.
Professor Lys was an editor of the Journal of Accounting and Economics for 11 years and also served on the editorial board of The Accounting Review. He is a recipient of the American Accounting Association’s Distinguished Contributions to Accounting Literature Award for 2022.
Professor Levinsohn is an expert in antitrust, industrial organization, and econometrics. He has provided expert reports and testimony in several landmark antitrust and regulatory matters, including In re: TFT-LCD (Flat Panel) Antitrust Litigation, In re: Vitamins Antitrust Litigation, In re: New Motor Vehicles Canadian Export Antitrust Litigation, and the Tobacco Master Settlement Agreement proceedings. He has also consulted to numerous foreign governments and international organizations.
Professor Levinsohn conducts research in industrial organization, applied econometrics, international economics, and development economics. He has served on the editorial boards of American Economic Review, The Review of Economics and Statistics, the Journal of International Economics, and the Journal of Economic Literature. Prior to joining the Yale faculty, Professor Levinsohn was the J. Ira and Nicki Harris Family Professor of Public Policy at the Gerald R. Ford School of Public Policy at the University of Michigan.
Professor Starks is an expert in finance, investment management practices, capital markets, and environmental, social, and governance (ESG). Her current research focuses on ESG issues, including climate finance and board diversity, as well as the links between molecular genetics and financial decisions. Professor Starks has served as an expert witness in federal courts on behalf of Wells Fargo, Merrill Lynch Asset Management, Vesta Insurance, and DuPont. Her research on finance issues has been published widely, and she is the editor of the Financial Management Association Survey and Synthesis Series of books, a former editor of The Review of Financial Studies, and a former advisory editor of Financial Analysts Journal and Financial Management. Professor Starks received the Moskowitz Prize for Outstanding Research in Sustainable Finance for “Corporate ESG Profiles and Investor Horizons.” She is a research associate at the National Bureau of Economics Research, a research member of the European Corporate Governance Institute, and a senior fellow at the Asian Bureau of Financial and Economic Research. Professor Starks has served as president of the Society of Financial Studies, the Western Finance Association, the Financial Management Association, and the American Finance Association. She has served on mutual fund boards of directors, pension fund advisory committees, the board of governors of the Investment Company Institute, the governing council of the Independent Directors Council, and advisory committees of the Norwegian Government Pension Fund.
Professor Edwards is an expert in international economics and management, with a particular focus on Latin America. He has consulted to a number of national and international corporations, as well as to multilateral institutions such as the Inter-American Development Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United States Agency for International Development, and the World Bank, where he served as chief economist for the Latin America and Caribbean region. He has also consulted to a number of national governments, including those of Costa Rica, Guatemala, Mexico, Argentina, Chile, Colombia, New Zealand, Indonesia, Tanzania, and Nicaragua. Professor Edwards has published widely on international economics, macroeconomics, and economic development, and has written editorials on Argentina’s economic situation for The Wall Street Journal and the Financial Times. He is a research associate at the National Bureau of Economic Research, a member of the advisory board of Trans-National Research Corporation, and former chairman of the Inter-American Seminar on Economics. Professor Edwards was awarded the 2012 Carlos Diaz-Alejandro Prize by the Latin American and Caribbean Economic Association for his lifetime contributions to policymaking in Latin America and the Caribbean.
Dr. Tierney is an expert on energy policy and economics, specializing in the electric and gas industries. She has consulted to companies, governments, nonprofits, and other organizations on energy markets, as well as economic and environmental regulation and strategy. Her expert witness and business consulting services have involved industry restructuring, market analyses, utility ratemaking and regulatory policy, clean energy regulatory policy, transmission issues, wholesale and retail market design, and resource planning and procurement. Dr. Tierney is a former assistant secretary for policy at the US Department of Energy, state cabinet officer for environmental affairs, and state public utility commissioner. She chairs the board of directors of Resources for the Future; serves on the external advisory board of the National Renewable Energy Laboratory; and is a member of the boards of directors of the World Resources Institute, the Alfred P. Sloan Foundation, the Barr Foundation, and other organizations. She has published widely, frequently speaks at industry conferences, and has lectured at many leading universities.
Professor Macey’s research and writings focus on corporate governance, corporate finance, and banking and financial institution regulation. He has served as an expert in cases involving corporate governance and corporate control – in particular, matters involving piercing the corporate veil and breach of fiduciary duty across various industries. Professor Macey is the author or coauthor of many books, including Macey on Corporation Laws and two leading casebooks: Cases and Materials on Corporations Including Partnerships and Limited Liability Companies and Banking Law and Regulation. He has published over 100 articles in major law reviews and journals, including The Banking Law Journal and The Journal of Law and Economics, and has served on numerous journal editorial boards. Professor Macey’s op-eds have appeared in The Wall Street Journal, Forbes, the Los Angeles Times, and The National Law Journal, among other publications. His awards include a Ph.D. honoris causa from the Stockholm School of Economics. Prior to joining the Yale faculty, Professor Macey was the J. DuPratt White Professor of Law and director of the John M. Olin Program in Law and Economics at Cornell Law School, and a professor of law and business at Cornell’s Samuel Curtis Johnson Graduate School of Business. He has served as a professor of law at The University of Chicago Law School and as a visiting professor of law at Harvard Law School.
Mr. Weinstein specializes in the application of quantitative methods to real-world problems involving decision making, strategy, risk management, and litigation in a variety of sectors. His work in the health care sector includes building algorithms for real-time suspicious order monitoring of controlled substance distribution by manufacturers and wholesalers, as well as statistical assessments of controlled substance dispensing issues at the pharmacy and prescriber levels. He has also led the creation of flexible damages models for use in litigation matters involving the False Claims Act, the Anti-Kickback Statute, intellectual property, and controlled substance regulation. He has served as an expert witness, testifying in administrative proceedings before the Drug Enforcement Administration (DEA).
Mr. Weinstein has managed the analysis of large transaction-level and claims databases. He also has broad experience supporting leading academic experts, working with cross-functional client teams, and presenting analytical results to top executives and government officials, including those at the DEA, US Attorneys’ Offices, and state attorneys general. In his work at Analysis Group, Mr. Weinstein builds on his prior experience, which includes contributing to economics research on 401(k) savings behavior, forecasting consumer demand at Zipcar, and advising foundations and government agencies on how to track and interpret data.
Professor Sundararajan’s research focuses on how digital technologies transform business, government, and civil society. He has extensive expertise in the regulation and governance of digital platforms, antitrust policy in high-tech industries, the economics of network effects, pricing and privacy issues in platform markets, valuation of digital businesses, and artificial intelligence (AI). He has provided expert testimony about the digital economy before Congress, the European Parliament, and to various city, state, and federal government agencies, including the Federal Reserve Bank and the Federal Trade Commission (FTC). Widely published, Professor Sundararajan has presented his research in peer-reviewed journals and at conferences, earned numerous awards and grants, and given hundreds of keynote, plenary, and other talks at industry, government, and academic forums around the world. His op-eds and other articles have appeared in more than 40 media outlets, including The New York Times, The Financial Times, Harvard Business Review, Fortune, and WIRED. Professor Sundararajan is the recipient of the Axiom Business Book Award for The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. He is a member of the World Economic Forum’s Global Future Council on the New Economic Agenda. Professor Sundararajan also advises organizations ranging from large corporations and tech startups to nonprofits and municipal governments. In addition to his primary professorial appointments, Professor Sundararajan is an affiliated faculty member at many of NYU’s interdisciplinary research centers, including the Center for Data Science and the Center for Urban Science and Progress.