This edition of Forum offers two perspectives on the growing litigation trend around biometric information privacy laws, as well as a discussion of the potential effects of the US Supreme Court’s decision in Securities and Exchange Commission v. Jarkesy.
Analysis Group was retained on behalf of Leon Gilbert and Michael McGarvey, the plaintiffs in a legal expenses dispute filed in the Delaware Chancery Court against their former employer, Unisys Corporation.
Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
)Mr. Decter specializes in the application of microeconomics, finance, and data analysis to complex securities and antitrust litigation and business strategy cases, most notably in matters related to residential mortgage-backed securities, collateralized debt obligations and credit default swaps, residential mortgage lending, mortgage reinsurance, commercial insurance, private equity, and payment cards. He has conducted damages analyses, and supported multiple experts in the areas of statistical sampling, loan and securities underwriting, damages, and loss causation.
Mr. Decter's business litigation experience focuses on finance matters in which he has managed large case teams and data sets in working with testifying experts. He supported academic affiliates in their examination of class certification issues related to commonality, predominance, and causation in In re Countrywide Financial Corp. Mortgage Marketing and Sales Practices Litigation, a mortgage marketing matter in which the plaintiff's motion for class certification was denied. Mr. Decter also supported an expert in filing a report on behalf of the defendants in New Jersey Carpenters Vacation Fund et al. v. The Royal Bank of Scotland Group plc et al., a case that marked the first major ruling on class certification among the numerous mortgage-backed securities actions pending in courts across the country at the time. He has also conducted damages analyses and worked with experts in numerous securities, antitrust, and intellectual property cases. Mr. Decter's business strategy engagements related to strategic pricing, portfolio management, and economic cost studies have spanned multiple industries, including pharmaceuticals, telecommunications, information technology, and manufacturing.
Prior to joining Analysis Group, Mr. Decter was a management consultant in the telecommunications industry. He also has several years of telecommunications industry experience in strategic planning, business development, and product management.
Professor Jiang is a finance expert whose research focuses on corporate governance, institutional investment, technology, and financial markets. She has published extensively on M&A, as well as corporate finance and governance issues related to control changes. Her work has been published in numerous peer-reviewed journals and featured in major media outlets, including The Wall Street Journal, The Economist, Institutional Investor, Money, Fortune, Businessweek, The New York Times, and the Financial Times. Professor Jiang is the recipient of several awards for research excellence, including from The Journal of Finance, The Review of Financial Studies, and the Journal of Financial Economics, as well as best paper prizes from the Western Finance Association, the Chicago Quantitative Alliance, INQUIRE UK, the Q Group, and the Investor Responsibility Research Center Institute. She has served in editorial roles for several prominent journals, including The Review of Financial Studies, The Journal of Finance, and Management Science.
Professor Jiang is currently the vice president of the American Finance Association. Her three-year term will include a year as president-elect in 2025 and a year as president in 2026. She is also a senior fellow at the Program on Corporate Governance at Harvard Law School, a fellow at the Financial Management Association, a research associate in the Law and Economics and Corporate Finance Programs at the National Bureau of Economic Research, a member of the Committee on Capital Markets Regulation, and the president of the Society for Financial Studies. Prior to joining Goizueta Business School, Professor Jiang was the Arthur F. Burns Professor of Free and Competitive Enterprise and the vice dean for curriculum and instruction at Columbia Business School.
)Professor Chalmers is an expert in securities issues, including the trading behavior of investors and the pricing of securities. He has undertaken extensive research in municipal bonds, mutual funds, and trading costs, much of which has been published in leading peer-reviewed academic journals, including The Journal of Finance, the Journal of Financial Economics, and The Review of Financial Studies. In the area of mutual funds, his research with Professors Roger Edelen and Greg Kadlec discovered and explained the source of perverse incentives exploited by so-called market timers in their trading of mutual funds. He has also written about stale pricing problems in equity mutual funds and mutual fund transaction costs, and has collaborated with other mutual fund experts, such as Professors Daniel Bergstresser and Peter Tufano, on research analyzing fund performance across fund marketing channels. He also has extensive expertise in municipal bond pricing and valuation issues. Professor Chalmers' research has been cited in reports by the General Accounting Office and in several testimonies provided before the House Financial Services Committee, as well as being widely referenced in major media outlets. He has authored several expert reports and provided testimony before the US District Court of Wisconsin.
)Dr. Schatzki has a broad range of expertise in energy, environment, finance, and competition matters. He supports clients in a range of contexts, including strategic and financial advice, policy analysis, regulatory and rulemaking proceedings, and litigation.
Dr. Schatzki has deep experience in electricity, natural gas, petroleum, and renewable energy. His expertise in the electricity sector includes wholesale energy and capacity market design; utility regulation and ratemaking; economic impact analysis of new market rules, regulations, and generation and transmission investments; contract analysis and disputes; financial valuation; and options analysis. Dr. Schatzki has testified before US state and federal, as well as Canadian provincial, regulatory commissions. He has supported the analysis of alleged market manipulation and damages in high-profile litigations such as FERC v. Barclays and lawsuits following the California electricity crisis.
Dr. Schatzki works extensively on environmental economics, policy, and regulation. Recently, he has focused on the intersection of climate policy and energy markets, and disputes involving water resources and environmental contamination. His research has been published in distinguished energy- and environment-related publications, and he has provided research for prominent organizations such as the Electric Power Research Institute, the Edison Electric Institute, and the Federal Energy Regulatory Commission.
In finance and competition matters, Dr. Schatzki has worked with clients on litigation and non-litigation projects in many sectors, including energy, financial instruments, foreign exchange, insurance, airlines, and retail products.
)Professor Kothari is an expert on financial reporting and capital markets. His research interests include the measurement of security price performance, the effect of disclosures by management on the equity cost of capital, and the economic determinants of the relationship between earnings changes and stock returns. Professor Kothari also has expertise in valuation, asset allocation, and international accounting practices. From 2019 to 2021, he served as the chief economist and director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission (SEC). Professor Kothari has provided expert reports and trial testimony, and has consulted to leading US and international banks and asset management companies, US steel companies, Ernst & Young, KPMG, PricewaterhouseCoopers, and the US Department of Justice. He has published articles in peer-reviewed journals such as Management Science, The Accounting Review, and the Journal of Accounting Research. For over 20 years, Professor Kothari served as an editor of the Journal of Accounting and Economics. Previously, he was the global head of equity research for Barclays Global Investors, where he was responsible for research supporting its active equity strategies.
)Ms. Kirk Fair has extensive experience leading the development of economic and market analyses, assessing class certification and damages, evaluating consumer behavior, and testifying in a wide range of matters in the US, Canada, and Europe. She has been deeply involved in merger investigations and major antitrust litigation, as well as intellectual property (IP), false advertising, and tax matters. She also is a founder of the Analysis Group’s Surveys & Experimental Studies practice.
Ms. Kirk Fair specializes in evaluating competition and substitution patterns to examine potential competitive effects in mergers and “but-for” outcomes in antitrust litigation. She has significant analytical and testifying experience in cartel matters, notably in a number of prominent cases in the technology, consumer products, and financial services industries. She also has evaluated competition, pricing, and outputs in connection with merger investigations in the US, Canada, and the EU. In addition to having served as a compliance monitor for several years, she has supported the US Department of Justice (DOJ), the Federal Trade Commission (FTC), and the Canadian Competition Bureau (CCB) in a variety of merger investigations.
Ms. Kirk Fair also has particular expertise in the development, administration, and analysis of consumer surveys for use in antitrust, false advertising, and IP matters, as well as merger reviews and strategy cases. She has testified in arbitration, deposition, and trial in matters involving the design and implementation of consumer surveys, as well as the evaluation of opposing parties’ surveys and of statistical sampling and analyses. Her work has been used to support and critique damages models and to provide insights into the role of consumer choice in market definition.
Ms. Kirk Fair serves as a Vice-Chair to the American Bar Association (ABA) Antitrust Law Section’s Pricing Conduct Committee. She has received numerous awards for her accomplishments, including the W@ “40 in Their 40s: Notable Women Competition Professionals” and the Concurrences Antitrust Writing Award for her coauthored article “The Tyranny of Market Shares: Incorporating Survey-Based Evidence into Merger Analysis” (Corporate Disputes).
)Professor Scharfstein is a biostatistician with expertise in the design, monitoring, and analysis of randomized clinical trials and observational studies. His research focuses on methods of reporting the results of clinical studies in which missing or censored data, non-compliance, or non-random treatment assignment may have resulted in selection bias. He has testified at deposition and trial in a number of litigation matters involving drug and medical device safety and efficacy in and outside the US. In addition, Professor Scharfstein regularly consults to the pharmaceutical industry, advising on statistical issues related to the regulatory approval of drugs and medical devices. He has served on multiple data safety monitoring boards for clinical trials, including for the National Institute of Allergy and Infectious Diseases. Professor Scharfstein is the principal biostatistician for the Major Extremity Trauma Research Consortium, which conducts multicenter clinical research studies relevant to the treatment and outcomes of orthopedic trauma sustained in the military. Professor Scharfstein is a fellow of the American Statistical Association, a recipient of the ASA’s George W. Snedecor Award for best paper in biometry, and a recipient of the Harvard T.H. Chan School of Public Health Department of Biostatistics’ Lagakos Distinguished Alumni Award. He has received multiple teaching excellence awards for his classes on probability and statistical theory.
)Mr. Egland has worked on a wide range of assignments related to litigation, internal corporate consulting, and government investigations for over 35 years. He specializes in financial economics, statistical sampling, and the economics of competition. Mr. Egland directs the firm’s risk management practice, which provides comprehensive risk audits of investment portfolios. He has presented Analysis Group’s work to government regulatory agencies, to corporate boards, and in court. He has led several teams evaluating claims of excessive fees in the mutual fund industry and on ERISA cases involving the reasonableness of fees charged to 401(k) plan participants. In addition, Mr. Egland has worked on several studies assessing the risk profiles of investment portfolios. In Florida State Board of Administration v. Alliance Capital Management, he led a case team that supported six external experts in a landmark trial victory, in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund as a result of Alliance Capital’s investments in Enron stock. He also led a case team on behalf of American Century Investments in one of the largest mutual fund excessive fee actions ever filed, which was voluntarily dismissed by the plaintiffs before trial. Mr. Egland is a CFA charterholder.
)Professor Kahn’s research interests include brand management and loyalty, consumer choice and decision making, price promotions, and retailing. She has served as an expert witness and testified at deposition in numerous matters. Professor Kahn is the author of Global Brand Power: Leveraging Branding for Long-Term Growth and The Shopping Revolution: How Retailers Succeed in an Era of Endless Disruption Accelerated by COVID-19, and coauthor of Grocery Revolution: The New Focus on the Customer. She has published more than 70 articles in leading academic journals. She is a former area editor of Marketing Science, the Journal of Consumer Research, the Journal of Consumer Psychology, and the Journal of Marketing, and has served on the editorial boards of the Journal of Marketing, the Journal of Marketing Research, Marketing Science, the Journal of Consumer Research, the Journal of Behavioral Decision Making, and Marketing Letters. Prior to joining The Wharton School, Professor Kahn was on the faculty of the UCLA Anderson School of Management. She also served as dean of the Miami Herbert Business School.
)Dr. Chan is a practicing internal medicine physician and an economist. His research draws on industrial organization, labor economics, and applied econometric principles to study how technology and information are used in health care, and how they affect productivity and patient care. Dr. Chan’s government service includes roles as entrepreneur in residence in the White House Office of Science and Technology Policy, staff fellow in the Food and Drug Administration’s (FDA’s) Center for Drug Evaluation and Research, and medical device fellow in the FDA’s Center for Devices and Radiological Health. He has published on health economics and policy in medical and economics journals such as The New England Journal of Medicine, the Journal of Political Economy, Econometrica, and The Quarterly Journal of Economics. Dr. Chan presents frequently at national and international conferences and has received numerous grants and awards, including the National Institutes of Health Director’s High-Risk, High-Reward Early Independence Award, and a Marshall Scholarship. He is a senior fellow at the Stanford Institute for Economic Policy Research and a faculty research fellow at the National Bureau of Economic Research.
)Dr. Signorovitch advises life sciences companies on data analytics for business critical research and decision making. He has broad experience leading the strategic development and implementation of analytics across the product life cycle, from early-phase clinical studies to market access and real-world evidence generation. Dr. Signorovitch’s practice areas span trial design, multi-stakeholder collaborations, natural history studies, regulatory interactions, health economic modeling, global reimbursement submissions, policy evaluation, real-world evidence development, individualized medicine, predictive analytics, and due diligence for acquisitions. He has particular expertise in developing and applying new methodologies to address health care research challenges, and in designing analytics platforms to enhance collaborative research and decision making. Dr. Signorovitch’s work has been used to inform clinical regulators and health care payers in US and global markets, published in peer-reviewed journals, and presented at clinical and economic research conferences. Prior to joining Analysis Group, Dr. Signorovitch was a research fellow at the Harvard-MIT Division of Health Sciences and Technology.
)Professor Syverson is an expert in industrial organization and microeconomics. His research spans numerous topics related to the interactions of firm structure, market structure, and productivity. Professor Syverson has been retained as an expert in several engagements and has provided deposition testimony in antitrust litigation. He has published widely in leading economic and industry journals, including the Journal of Economic Perspectives, the American Economic Review, and Econometrica, and he coauthored the intermediate-level textbook Microeconomics. Professor Syverson’s research has received multiple grants from the National Science Foundation, among others. He is a former editor of the Journal of Political Economy and has served on a number of editorial boards. Professor Syverson is a research associate in several programs at the National Bureau of Economic Research, including Productivity, Innovation, and Entrepreneurship; Industrial Organization; and Environment and Energy Economics. Prior to his appointment at The University of Chicago, he was a mechanical engineer for Loral Defense Systems and Unisys. He holds undergraduate degrees in both mechanical engineering and economics from the University of North Dakota.
)Dr. Lehmann specializes in applying microeconomics, econometrics, and statistical methods to complex litigation and government investigations in the areas of antitrust and competition, labor and employment, health care, and commercial damages. She has evaluated market definition, market power, competitive dynamics, class certification, liability, and damages issues in cases involving allegations of price-fixing, monopolization, and other anticompetitive conduct. Dr. Lehmann has extensive experience in labor market antitrust matters involving allegations of no-poach and wage-fixing agreements in a variety of industries. In her work with pharmaceutical and medical device industries, she has analyzed economic, health, and scientific data to assess liability, damages, and claims of causation and harm. She also frequently supports biostatisticians, epidemiologists, scientists, and regulatory experts in evaluating research and development processes and analyzing clinical trial, laboratory testing, registry, medical claims, and adverse events data in product liability litigations and intellectual property disputes. She has authored expert reports and provided testimony on class certification, damages, causation assessments, and statistical issues in antitrust and competition, data security breach, labor and employment, and commercial litigation matters.
Dr. Lehmann’s research has been published in the Journal of Economic Literature, The Journal of Human Resources, Labour Economics, Cartel & Joint Conduct Review, Distribution, Cybersecurity Law & Strategy, Antitrust Report, and Antitrust Magazine, and her academic work has been cited in leading media outlets, including Scientific American, Forbes, and BBC News. She serves as a co-chair of the Distribution and Franchising Committee of the American Bar Association (ABA) Antitrust Law Section. Prior to joining Analysis Group, Dr. Lehmann was an assistant professor of economics at the University of Houston, where she taught courses in labor economics and microeconomics.
)Dr. Kupiec’s research interests include quantitative financial risk measurement, systemic risk, deposit insurance, and the regulation of banking and financial services. At the American Enterprise Institute, he has authored several studies on systemic risk measurement and related regulations, bank stress testing, and bank regulations that follow financial crisis, including their impact on the wider economy. Dr. Kupiec was an associate director of the Division of Insurance and Research and director of the Center for Financial Research (CFR) at the Federal Deposit Insurance Corporation. In these roles, he oversaw research on bank risk measurement that contributed to the development and implementation of regulatory policies, including the international Basel III framework. He also served as chairman of the Research Task Force of the Basel Committee on Banking Supervision. Dr. Kupiec has worked at the International Monetary Fund, Freddie Mac, and J.P. Morgan, as well as for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. Prior to entering the financial services industry, Dr. Kupiec was an assistant professor of finance at North Carolina State University. He has published articles in several academic journals, including The Journal of Finance, the Journal of Financial Intermediation, the Journal of Financial Stability, the Journal of Financial Services Research, The Journal of Risk, and the Journal of Investment Management.
)Mr. Ellman specializes in the application of microeconomics, statistics, and financial analysis to complex commercial litigation matters and government investigations. He has worked on behalf of the US Department of Justice and Federal Trade Commission, and has consulted to law firms in litigation and regulatory matters involving antitrust and competition, drug safety and product liability, intellectual property, data breaches, and general commercial damages issues. Mr. Ellman has conducted market analyses and assessments of competitive effects in major antitrust matters, as well as for proposed and executed mergers. He has also conducted statistical analysis, market research, and other economic analyses to evaluate the appropriateness of class certification in antitrust and commercial disputes, and to assess liability and damages. Mr. Ellman’s expertise in matters involving the pharmaceutical and medical device industries includes analyzing therapeutic markets and competitive dynamics; assessing evidence of causal associations in product liability suits; and conducting statistical analyses of market surveillance, clinical trial, and observational study data to evaluate the comparative effectiveness, safety, and dosing patterns of different treatments across a variety of therapeutic categories. He has published articles on a wide range of topics, including the assessment of causation and harm in data breach litigation, the appropriate analysis and interpretation of post-marketing surveillance data in product liability cases, and the economics of biosimilar drugs.
)Professor Tucker is an industrial organization economist whose research spans the fields of technology, health care, real estate, and media and advertising. A particular focus of her work is on the role of data and digitization on competition and consumer behavior. Professor Tucker has deep experience as an expert witness in a variety of cases spanning antitrust and competition, intellectual property, data and data privacy, online advertising, and digital platforms. She has assessed market definition, competitive effects, liability, and class certification issues in matters involving pharmaceuticals, health insurance, consumer goods, sports and entertainment, energy, and consumer electronics, among other industries. She has testified about the effects of data, privacy, and algorithms before Congress, and has presented her work to agencies and organizations such as the Federal Trade Commission (FTC), the Federal Communications Commission (FCC), the International Monetary Fund (IMF), the European Commission Directorate-General for Competition (DG COMP), and the Australian Competition and Consumer Commission (ACCC).
Professor Tucker has published widely on innovation and technology diffusion; online advertising, customer heterogeneity, and algorithms; privacy regulation; network effects; and the economics of social networks. At the National Bureau of Economic Research (NBER), she serves as a research associate, focusing on privacy; a principal investigator on the Project on the Economics of Digitization; and a co-organizer of the Economics of Artificial Intelligence initiative, supported by the Alfred P. Sloan Foundation. Professor Tucker is a co-founder of the MIT Cryptoeconomics Lab, which studies digital currencies and blockchain, and chair of the MIT Sloan Ph.D. Program. Her articles have appeared in leading scientific, economic, management, and marketing journals. She has previously served as associate editor of Management Science and the Journal of Marketing Research and coeditor of Quantitative Marketing and Economics, and she is currently senior editor of Marketing Science.
)Professor Chandra focuses his research on innovation, productivity, and cost growth in health care; medical malpractice; and racial disparities in medical care. He has testified before the US Senate and the US Commission on Civil Rights and served as a special commissioner on the Massachusetts Special Commission on Provider Price Reform. Professor Chandra is a member of the Congressional Budget Office’s panel of health advisors, a research associate at the National Bureau of Economic Research, and an elected member of the American Academy of Arts and Sciences, the National Academy of Medicine, and the National Academy of Social Insurance. His research has been published in American Economic Review, the Journal of Political Economy, The Quarterly Journal of Economics, The New England Journal of Medicine, JAMA, Health Affairs, and other professional journals. Professor Chandra has received several awards for his work, including the Kenneth J. Arrow Award for best paper in health economics, the Garfield Award for outstanding research on the economic impact of medical and health research, the National Institute for Health Care Management Foundation Health Care Research Award, and the American Society of Health Economists’ ASHEcon Medal.
)Dr. Siegel's research focuses on the management, strategy, and organizational issues related to cybersecurity, the intelligent integration of information systems, risk management, data analytics, state stability, systems modeling, security of energy delivery systems, and security researchers (aka hackers). He has served as an expert witness and filed expert reports in a number of IT-related litigations for clients such as SAP, JPMorgan, IBM, Kenexa, Fisher Scientific, Ernst & Young, and Macromedia. His expert case work includes matters involving the acquisition of a software firm, software patent litigation and review (e.g., the Patent Trial and Appeal Board case Versata v. SAP), patent infringement and validity analysis, software licensing agreement disputes, and matters involving financial services software and software related to the extraction of data from web pages. Dr. Siegel has published articles on such topics as simulation modeling for cyber resilience, cyber vulnerability markets, data management strategy, architecture for practical metadata integration, heterogeneous database systems, and managing and valuing a corporate IT portfolio using dynamic modeling of software development and maintenance processes.
)Ms. Kamerick is an expert in corporate governance, corporate finance, securities law, and mergers and acquisitions (M&A). She has held CFO positions at a number of prominent firms – including BP Amoco (Americas), Heidrick & Struggles, and Houlihan Lokey – and served as a senior financial and legal advisor to major multinational corporations. Ms. Kamerick is a former M&A and securities attorney with Skadden, Arps, Slate, Meagher & Flom. She has significant experience overseeing 401(k) and defined-benefit retirement plans, and chairing defined-benefit retirement plan investment committees. In addition to consulting on financial, strategic, and corporate governance matters, Ms. Kamerick serves on several boards, frequently acting as chair of the audit committee and as the board’s Securities and Exchange Commission (SEC) financial expert. She also serves on the boards of the Legg Mason Closed-End Mutual Funds and the AIG Funds & Anchor Series Trust (a mutual fund complex). Ms. Kamerick is a National Association of Corporate Directors (NACD) Board Leadership Fellow and holds the NACD Directorship certification. She has held several adjunct professorships and lectured on corporate governance and fiduciary duties at numerous universities, as well as in NACD’s Battlefield to Boardroom program for flag officers. Ms. Kamerick is a frequent contributor to Agenda and Directors & Boards. She serves on the Alzheimer’s Association board of directors, as well as its audit and finance committees. In 2020, she was a judge for IR Magazine’s Corporate Governance Awards.
)Professor Slottje has deep experience in both academia and economic consulting. An emeritus professor of economics at Southern Methodist University, he has been working in litigation consulting for more than three decades in senior positions with several international firms. He has worked with many leading law firms, testifying at deposition and trial in hundreds of prominent matters.
An economist and a statistician, Professor Slottje is an expert in the fields of labor economics, consumer demand, industrial organization, and statistics and econometrics, allowing him to bring a unique perspective and skill set to his consulting assignments. He has published more than 150 journal articles and more than a dozen books, and has been ranked among the world’s top three scholars in applied econometrics based on his publishing record in the field. Professor Slottje is a member of the American Economic Association, the American Statistical Association, and The Econometric Society.
)Dr. Mathur specializes in the application of microeconomics, statistics, and econometrics to complex litigation matters, regulatory investigations, and consulting engagements in the areas of antitrust and competition, class certification, intellectual property, and commercial damages. Dr. Mathur has provided expert economic testimony on antitrust, class certification, and damages issues and has testified at depositions and in federal court. She regularly collaborates with academic and industry experts, leads consulting teams, and supports attorneys and other stakeholders in all phases of litigation. She has worked on behalf of the US Department of Justice (DOJ) and the Federal Trade Commission (FTC), and consulted to firms in numerous industries, including technology, media, telecommunications, pharmaceuticals, consumer products, financial services, manufacturing, and chemicals.
)Professor Laby is an expert in securities law, the regulation of investment management, and the fiduciary obligation. He has been retained as a consultant and expert witness, and he has testified both in court and in Securities and Exchange Commission (SEC) administrative proceedings in securities and corporate law matters involving issues such as investment suitability, fiduciary duty, the roles and responsibilities of broker-dealers and investment advisors, and conflict-of-interest transactions in the investment industry. Professor Laby is coauthor of a multi-volume treatise titled The Regulation of Money Managers: Mutual Funds and Advisers. He has published articles on topics such as the regulation of financial services firms, the regulation of retirement advisors, and the regulation of global financial firms in publications such as the Washington Law Review, the Florida Law Review, the Boston University Law Review, the Tulane Law Review, the Review of Banking and Financial Law, and The Business Lawyer. Professor Laby previously served on the board of directors of the Certified Financial Planner Board of Standards, as chairman of the board of trustees of the SEC Historical Society, and as a member of an American Bar Association task force that prepared the fourth edition of the Fund Director’s Guidebook. Prior to joining the Rutgers faculty, Professor Laby served as assistant general counsel at the SEC, where he was responsible for investment management and international matters, and was in private practice.
)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.Â
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 more than 500 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.
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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.
)Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
Mr. Decter specializes in the application of microeconomics, finance, and data analysis to complex securities and antitrust litigation and business strategy cases, most notably in matters related to residential mortgage-backed securities, collateralized debt obligations and credit default swaps, residential mortgage lending, mortgage reinsurance, commercial insurance, private equity, and payment cards. He has conducted damages analyses, and supported multiple experts in the areas of statistical sampling, loan and securities underwriting, damages, and loss causation.
Mr. Decter's business litigation experience focuses on finance matters in which he has managed large case teams and data sets in working with testifying experts. He supported academic affiliates in their examination of class certification issues related to commonality, predominance, and causation in In re Countrywide Financial Corp. Mortgage Marketing and Sales Practices Litigation, a mortgage marketing matter in which the plaintiff's motion for class certification was denied. Mr. Decter also supported an expert in filing a report on behalf of the defendants in New Jersey Carpenters Vacation Fund et al. v. The Royal Bank of Scotland Group plc et al., a case that marked the first major ruling on class certification among the numerous mortgage-backed securities actions pending in courts across the country at the time. He has also conducted damages analyses and worked with experts in numerous securities, antitrust, and intellectual property cases. Mr. Decter's business strategy engagements related to strategic pricing, portfolio management, and economic cost studies have spanned multiple industries, including pharmaceuticals, telecommunications, information technology, and manufacturing.
Prior to joining Analysis Group, Mr. Decter was a management consultant in the telecommunications industry. He also has several years of telecommunications industry experience in strategic planning, business development, and product management.
Professor Jiang is a finance expert whose research focuses on corporate governance, institutional investment, technology, and financial markets. She has published extensively on M&A, as well as corporate finance and governance issues related to control changes. Her work has been published in numerous peer-reviewed journals and featured in major media outlets, including The Wall Street Journal, The Economist, Institutional Investor, Money, Fortune, Businessweek, The New York Times, and the Financial Times. Professor Jiang is the recipient of several awards for research excellence, including from The Journal of Finance, The Review of Financial Studies, and the Journal of Financial Economics, as well as best paper prizes from the Western Finance Association, the Chicago Quantitative Alliance, INQUIRE UK, the Q Group, and the Investor Responsibility Research Center Institute. She has served in editorial roles for several prominent journals, including The Review of Financial Studies, The Journal of Finance, and Management Science.
Professor Jiang is currently the vice president of the American Finance Association. Her three-year term will include a year as president-elect in 2025 and a year as president in 2026. She is also a senior fellow at the Program on Corporate Governance at Harvard Law School, a fellow at the Financial Management Association, a research associate in the Law and Economics and Corporate Finance Programs at the National Bureau of Economic Research, a member of the Committee on Capital Markets Regulation, and the president of the Society for Financial Studies. Prior to joining Goizueta Business School, Professor Jiang was the Arthur F. Burns Professor of Free and Competitive Enterprise and the vice dean for curriculum and instruction at Columbia Business School.
Professor Chalmers is an expert in securities issues, including the trading behavior of investors and the pricing of securities. He has undertaken extensive research in municipal bonds, mutual funds, and trading costs, much of which has been published in leading peer-reviewed academic journals, including The Journal of Finance, the Journal of Financial Economics, and The Review of Financial Studies. In the area of mutual funds, his research with Professors Roger Edelen and Greg Kadlec discovered and explained the source of perverse incentives exploited by so-called market timers in their trading of mutual funds. He has also written about stale pricing problems in equity mutual funds and mutual fund transaction costs, and has collaborated with other mutual fund experts, such as Professors Daniel Bergstresser and Peter Tufano, on research analyzing fund performance across fund marketing channels. He also has extensive expertise in municipal bond pricing and valuation issues. Professor Chalmers' research has been cited in reports by the General Accounting Office and in several testimonies provided before the House Financial Services Committee, as well as being widely referenced in major media outlets. He has authored several expert reports and provided testimony before the US District Court of Wisconsin.
Dr. Schatzki has a broad range of expertise in energy, environment, finance, and competition matters. He supports clients in a range of contexts, including strategic and financial advice, policy analysis, regulatory and rulemaking proceedings, and litigation.
Dr. Schatzki has deep experience in electricity, natural gas, petroleum, and renewable energy. His expertise in the electricity sector includes wholesale energy and capacity market design; utility regulation and ratemaking; economic impact analysis of new market rules, regulations, and generation and transmission investments; contract analysis and disputes; financial valuation; and options analysis. Dr. Schatzki has testified before US state and federal, as well as Canadian provincial, regulatory commissions. He has supported the analysis of alleged market manipulation and damages in high-profile litigations such as FERC v. Barclays and lawsuits following the California electricity crisis.
Dr. Schatzki works extensively on environmental economics, policy, and regulation. Recently, he has focused on the intersection of climate policy and energy markets, and disputes involving water resources and environmental contamination. His research has been published in distinguished energy- and environment-related publications, and he has provided research for prominent organizations such as the Electric Power Research Institute, the Edison Electric Institute, and the Federal Energy Regulatory Commission.
In finance and competition matters, Dr. Schatzki has worked with clients on litigation and non-litigation projects in many sectors, including energy, financial instruments, foreign exchange, insurance, airlines, and retail products.
Professor Kothari is an expert on financial reporting and capital markets. His research interests include the measurement of security price performance, the effect of disclosures by management on the equity cost of capital, and the economic determinants of the relationship between earnings changes and stock returns. Professor Kothari also has expertise in valuation, asset allocation, and international accounting practices. From 2019 to 2021, he served as the chief economist and director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission (SEC). Professor Kothari has provided expert reports and trial testimony, and has consulted to leading US and international banks and asset management companies, US steel companies, Ernst & Young, KPMG, PricewaterhouseCoopers, and the US Department of Justice. He has published articles in peer-reviewed journals such as Management Science, The Accounting Review, and the Journal of Accounting Research. For over 20 years, Professor Kothari served as an editor of the Journal of Accounting and Economics. Previously, he was the global head of equity research for Barclays Global Investors, where he was responsible for research supporting its active equity strategies.
Ms. Kirk Fair has extensive experience leading the development of economic and market analyses, assessing class certification and damages, evaluating consumer behavior, and testifying in a wide range of matters in the US, Canada, and Europe. She has been deeply involved in merger investigations and major antitrust litigation, as well as intellectual property (IP), false advertising, and tax matters. She also is a founder of the Analysis Group’s Surveys & Experimental Studies practice.
Ms. Kirk Fair specializes in evaluating competition and substitution patterns to examine potential competitive effects in mergers and “but-for” outcomes in antitrust litigation. She has significant analytical and testifying experience in cartel matters, notably in a number of prominent cases in the technology, consumer products, and financial services industries. She also has evaluated competition, pricing, and outputs in connection with merger investigations in the US, Canada, and the EU. In addition to having served as a compliance monitor for several years, she has supported the US Department of Justice (DOJ), the Federal Trade Commission (FTC), and the Canadian Competition Bureau (CCB) in a variety of merger investigations.
Ms. Kirk Fair also has particular expertise in the development, administration, and analysis of consumer surveys for use in antitrust, false advertising, and IP matters, as well as merger reviews and strategy cases. She has testified in arbitration, deposition, and trial in matters involving the design and implementation of consumer surveys, as well as the evaluation of opposing parties’ surveys and of statistical sampling and analyses. Her work has been used to support and critique damages models and to provide insights into the role of consumer choice in market definition.
Ms. Kirk Fair serves as a Vice-Chair to the American Bar Association (ABA) Antitrust Law Section’s Pricing Conduct Committee. She has received numerous awards for her accomplishments, including the W@ “40 in Their 40s: Notable Women Competition Professionals” and the Concurrences Antitrust Writing Award for her coauthored article “The Tyranny of Market Shares: Incorporating Survey-Based Evidence into Merger Analysis” (Corporate Disputes).
Professor Scharfstein is a biostatistician with expertise in the design, monitoring, and analysis of randomized clinical trials and observational studies. His research focuses on methods of reporting the results of clinical studies in which missing or censored data, non-compliance, or non-random treatment assignment may have resulted in selection bias. He has testified at deposition and trial in a number of litigation matters involving drug and medical device safety and efficacy in and outside the US. In addition, Professor Scharfstein regularly consults to the pharmaceutical industry, advising on statistical issues related to the regulatory approval of drugs and medical devices. He has served on multiple data safety monitoring boards for clinical trials, including for the National Institute of Allergy and Infectious Diseases. Professor Scharfstein is the principal biostatistician for the Major Extremity Trauma Research Consortium, which conducts multicenter clinical research studies relevant to the treatment and outcomes of orthopedic trauma sustained in the military. Professor Scharfstein is a fellow of the American Statistical Association, a recipient of the ASA’s George W. Snedecor Award for best paper in biometry, and a recipient of the Harvard T.H. Chan School of Public Health Department of Biostatistics’ Lagakos Distinguished Alumni Award. He has received multiple teaching excellence awards for his classes on probability and statistical theory.
Mr. Egland has worked on a wide range of assignments related to litigation, internal corporate consulting, and government investigations for over 35 years. He specializes in financial economics, statistical sampling, and the economics of competition. Mr. Egland directs the firm’s risk management practice, which provides comprehensive risk audits of investment portfolios. He has presented Analysis Group’s work to government regulatory agencies, to corporate boards, and in court. He has led several teams evaluating claims of excessive fees in the mutual fund industry and on ERISA cases involving the reasonableness of fees charged to 401(k) plan participants. In addition, Mr. Egland has worked on several studies assessing the risk profiles of investment portfolios. In Florida State Board of Administration v. Alliance Capital Management, he led a case team that supported six external experts in a landmark trial victory, in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund as a result of Alliance Capital’s investments in Enron stock. He also led a case team on behalf of American Century Investments in one of the largest mutual fund excessive fee actions ever filed, which was voluntarily dismissed by the plaintiffs before trial. Mr. Egland is a CFA charterholder.
Professor Kahn’s research interests include brand management and loyalty, consumer choice and decision making, price promotions, and retailing. She has served as an expert witness and testified at deposition in numerous matters. Professor Kahn is the author of Global Brand Power: Leveraging Branding for Long-Term Growth and The Shopping Revolution: How Retailers Succeed in an Era of Endless Disruption Accelerated by COVID-19, and coauthor of Grocery Revolution: The New Focus on the Customer. She has published more than 70 articles in leading academic journals. She is a former area editor of Marketing Science, the Journal of Consumer Research, the Journal of Consumer Psychology, and the Journal of Marketing, and has served on the editorial boards of the Journal of Marketing, the Journal of Marketing Research, Marketing Science, the Journal of Consumer Research, the Journal of Behavioral Decision Making, and Marketing Letters. Prior to joining The Wharton School, Professor Kahn was on the faculty of the UCLA Anderson School of Management. She also served as dean of the Miami Herbert Business School.
Dr. Chan is a practicing internal medicine physician and an economist. His research draws on industrial organization, labor economics, and applied econometric principles to study how technology and information are used in health care, and how they affect productivity and patient care. Dr. Chan’s government service includes roles as entrepreneur in residence in the White House Office of Science and Technology Policy, staff fellow in the Food and Drug Administration’s (FDA’s) Center for Drug Evaluation and Research, and medical device fellow in the FDA’s Center for Devices and Radiological Health. He has published on health economics and policy in medical and economics journals such as The New England Journal of Medicine, the Journal of Political Economy, Econometrica, and The Quarterly Journal of Economics. Dr. Chan presents frequently at national and international conferences and has received numerous grants and awards, including the National Institutes of Health Director’s High-Risk, High-Reward Early Independence Award, and a Marshall Scholarship. He is a senior fellow at the Stanford Institute for Economic Policy Research and a faculty research fellow at the National Bureau of Economic Research.
Dr. Signorovitch advises life sciences companies on data analytics for business critical research and decision making. He has broad experience leading the strategic development and implementation of analytics across the product life cycle, from early-phase clinical studies to market access and real-world evidence generation. Dr. Signorovitch’s practice areas span trial design, multi-stakeholder collaborations, natural history studies, regulatory interactions, health economic modeling, global reimbursement submissions, policy evaluation, real-world evidence development, individualized medicine, predictive analytics, and due diligence for acquisitions. He has particular expertise in developing and applying new methodologies to address health care research challenges, and in designing analytics platforms to enhance collaborative research and decision making. Dr. Signorovitch’s work has been used to inform clinical regulators and health care payers in US and global markets, published in peer-reviewed journals, and presented at clinical and economic research conferences. Prior to joining Analysis Group, Dr. Signorovitch was a research fellow at the Harvard-MIT Division of Health Sciences and Technology.
Professor Syverson is an expert in industrial organization and microeconomics. His research spans numerous topics related to the interactions of firm structure, market structure, and productivity. Professor Syverson has been retained as an expert in several engagements and has provided deposition testimony in antitrust litigation. He has published widely in leading economic and industry journals, including the Journal of Economic Perspectives, the American Economic Review, and Econometrica, and he coauthored the intermediate-level textbook Microeconomics. Professor Syverson’s research has received multiple grants from the National Science Foundation, among others. He is a former editor of the Journal of Political Economy and has served on a number of editorial boards. Professor Syverson is a research associate in several programs at the National Bureau of Economic Research, including Productivity, Innovation, and Entrepreneurship; Industrial Organization; and Environment and Energy Economics. Prior to his appointment at The University of Chicago, he was a mechanical engineer for Loral Defense Systems and Unisys. He holds undergraduate degrees in both mechanical engineering and economics from the University of North Dakota.
Dr. Lehmann specializes in applying microeconomics, econometrics, and statistical methods to complex litigation and government investigations in the areas of antitrust and competition, labor and employment, health care, and commercial damages. She has evaluated market definition, market power, competitive dynamics, class certification, liability, and damages issues in cases involving allegations of price-fixing, monopolization, and other anticompetitive conduct. Dr. Lehmann has extensive experience in labor market antitrust matters involving allegations of no-poach and wage-fixing agreements in a variety of industries. In her work with pharmaceutical and medical device industries, she has analyzed economic, health, and scientific data to assess liability, damages, and claims of causation and harm. She also frequently supports biostatisticians, epidemiologists, scientists, and regulatory experts in evaluating research and development processes and analyzing clinical trial, laboratory testing, registry, medical claims, and adverse events data in product liability litigations and intellectual property disputes. She has authored expert reports and provided testimony on class certification, damages, causation assessments, and statistical issues in antitrust and competition, data security breach, labor and employment, and commercial litigation matters.
Dr. Lehmann’s research has been published in the Journal of Economic Literature, The Journal of Human Resources, Labour Economics, Cartel & Joint Conduct Review, Distribution, Cybersecurity Law & Strategy, Antitrust Report, and Antitrust Magazine, and her academic work has been cited in leading media outlets, including Scientific American, Forbes, and BBC News. She serves as a co-chair of the Distribution and Franchising Committee of the American Bar Association (ABA) Antitrust Law Section. Prior to joining Analysis Group, Dr. Lehmann was an assistant professor of economics at the University of Houston, where she taught courses in labor economics and microeconomics.
Dr. Kupiec’s research interests include quantitative financial risk measurement, systemic risk, deposit insurance, and the regulation of banking and financial services. At the American Enterprise Institute, he has authored several studies on systemic risk measurement and related regulations, bank stress testing, and bank regulations that follow financial crisis, including their impact on the wider economy. Dr. Kupiec was an associate director of the Division of Insurance and Research and director of the Center for Financial Research (CFR) at the Federal Deposit Insurance Corporation. In these roles, he oversaw research on bank risk measurement that contributed to the development and implementation of regulatory policies, including the international Basel III framework. He also served as chairman of the Research Task Force of the Basel Committee on Banking Supervision. Dr. Kupiec has worked at the International Monetary Fund, Freddie Mac, and J.P. Morgan, as well as for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. Prior to entering the financial services industry, Dr. Kupiec was an assistant professor of finance at North Carolina State University. He has published articles in several academic journals, including The Journal of Finance, the Journal of Financial Intermediation, the Journal of Financial Stability, the Journal of Financial Services Research, The Journal of Risk, and the Journal of Investment Management.
Mr. Ellman specializes in the application of microeconomics, statistics, and financial analysis to complex commercial litigation matters and government investigations. He has worked on behalf of the US Department of Justice and Federal Trade Commission, and has consulted to law firms in litigation and regulatory matters involving antitrust and competition, drug safety and product liability, intellectual property, data breaches, and general commercial damages issues. Mr. Ellman has conducted market analyses and assessments of competitive effects in major antitrust matters, as well as for proposed and executed mergers. He has also conducted statistical analysis, market research, and other economic analyses to evaluate the appropriateness of class certification in antitrust and commercial disputes, and to assess liability and damages. Mr. Ellman’s expertise in matters involving the pharmaceutical and medical device industries includes analyzing therapeutic markets and competitive dynamics; assessing evidence of causal associations in product liability suits; and conducting statistical analyses of market surveillance, clinical trial, and observational study data to evaluate the comparative effectiveness, safety, and dosing patterns of different treatments across a variety of therapeutic categories. He has published articles on a wide range of topics, including the assessment of causation and harm in data breach litigation, the appropriate analysis and interpretation of post-marketing surveillance data in product liability cases, and the economics of biosimilar drugs.
Professor Tucker is an industrial organization economist whose research spans the fields of technology, health care, real estate, and media and advertising. A particular focus of her work is on the role of data and digitization on competition and consumer behavior. Professor Tucker has deep experience as an expert witness in a variety of cases spanning antitrust and competition, intellectual property, data and data privacy, online advertising, and digital platforms. She has assessed market definition, competitive effects, liability, and class certification issues in matters involving pharmaceuticals, health insurance, consumer goods, sports and entertainment, energy, and consumer electronics, among other industries. She has testified about the effects of data, privacy, and algorithms before Congress, and has presented her work to agencies and organizations such as the Federal Trade Commission (FTC), the Federal Communications Commission (FCC), the International Monetary Fund (IMF), the European Commission Directorate-General for Competition (DG COMP), and the Australian Competition and Consumer Commission (ACCC).
Professor Tucker has published widely on innovation and technology diffusion; online advertising, customer heterogeneity, and algorithms; privacy regulation; network effects; and the economics of social networks. At the National Bureau of Economic Research (NBER), she serves as a research associate, focusing on privacy; a principal investigator on the Project on the Economics of Digitization; and a co-organizer of the Economics of Artificial Intelligence initiative, supported by the Alfred P. Sloan Foundation. Professor Tucker is a co-founder of the MIT Cryptoeconomics Lab, which studies digital currencies and blockchain, and chair of the MIT Sloan Ph.D. Program. Her articles have appeared in leading scientific, economic, management, and marketing journals. She has previously served as associate editor of Management Science and the Journal of Marketing Research and coeditor of Quantitative Marketing and Economics, and she is currently senior editor of Marketing Science.
Professor Chandra focuses his research on innovation, productivity, and cost growth in health care; medical malpractice; and racial disparities in medical care. He has testified before the US Senate and the US Commission on Civil Rights and served as a special commissioner on the Massachusetts Special Commission on Provider Price Reform. Professor Chandra is a member of the Congressional Budget Office’s panel of health advisors, a research associate at the National Bureau of Economic Research, and an elected member of the American Academy of Arts and Sciences, the National Academy of Medicine, and the National Academy of Social Insurance. His research has been published in American Economic Review, the Journal of Political Economy, The Quarterly Journal of Economics, The New England Journal of Medicine, JAMA, Health Affairs, and other professional journals. Professor Chandra has received several awards for his work, including the Kenneth J. Arrow Award for best paper in health economics, the Garfield Award for outstanding research on the economic impact of medical and health research, the National Institute for Health Care Management Foundation Health Care Research Award, and the American Society of Health Economists’ ASHEcon Medal.
Dr. Siegel's research focuses on the management, strategy, and organizational issues related to cybersecurity, the intelligent integration of information systems, risk management, data analytics, state stability, systems modeling, security of energy delivery systems, and security researchers (aka hackers). He has served as an expert witness and filed expert reports in a number of IT-related litigations for clients such as SAP, JPMorgan, IBM, Kenexa, Fisher Scientific, Ernst & Young, and Macromedia. His expert case work includes matters involving the acquisition of a software firm, software patent litigation and review (e.g., the Patent Trial and Appeal Board case Versata v. SAP), patent infringement and validity analysis, software licensing agreement disputes, and matters involving financial services software and software related to the extraction of data from web pages. Dr. Siegel has published articles on such topics as simulation modeling for cyber resilience, cyber vulnerability markets, data management strategy, architecture for practical metadata integration, heterogeneous database systems, and managing and valuing a corporate IT portfolio using dynamic modeling of software development and maintenance processes.
Ms. Kamerick is an expert in corporate governance, corporate finance, securities law, and mergers and acquisitions (M&A). She has held CFO positions at a number of prominent firms – including BP Amoco (Americas), Heidrick & Struggles, and Houlihan Lokey – and served as a senior financial and legal advisor to major multinational corporations. Ms. Kamerick is a former M&A and securities attorney with Skadden, Arps, Slate, Meagher & Flom. She has significant experience overseeing 401(k) and defined-benefit retirement plans, and chairing defined-benefit retirement plan investment committees. In addition to consulting on financial, strategic, and corporate governance matters, Ms. Kamerick serves on several boards, frequently acting as chair of the audit committee and as the board’s Securities and Exchange Commission (SEC) financial expert. She also serves on the boards of the Legg Mason Closed-End Mutual Funds and the AIG Funds & Anchor Series Trust (a mutual fund complex). Ms. Kamerick is a National Association of Corporate Directors (NACD) Board Leadership Fellow and holds the NACD Directorship certification. She has held several adjunct professorships and lectured on corporate governance and fiduciary duties at numerous universities, as well as in NACD’s Battlefield to Boardroom program for flag officers. Ms. Kamerick is a frequent contributor to Agenda and Directors & Boards. She serves on the Alzheimer’s Association board of directors, as well as its audit and finance committees. In 2020, she was a judge for IR Magazine’s Corporate Governance Awards.
Professor Slottje has deep experience in both academia and economic consulting. An emeritus professor of economics at Southern Methodist University, he has been working in litigation consulting for more than three decades in senior positions with several international firms. He has worked with many leading law firms, testifying at deposition and trial in hundreds of prominent matters.
An economist and a statistician, Professor Slottje is an expert in the fields of labor economics, consumer demand, industrial organization, and statistics and econometrics, allowing him to bring a unique perspective and skill set to his consulting assignments. He has published more than 150 journal articles and more than a dozen books, and has been ranked among the world’s top three scholars in applied econometrics based on his publishing record in the field. Professor Slottje is a member of the American Economic Association, the American Statistical Association, and The Econometric Society.
Dr. Mathur specializes in the application of microeconomics, statistics, and econometrics to complex litigation matters, regulatory investigations, and consulting engagements in the areas of antitrust and competition, class certification, intellectual property, and commercial damages. Dr. Mathur has provided expert economic testimony on antitrust, class certification, and damages issues and has testified at depositions and in federal court. She regularly collaborates with academic and industry experts, leads consulting teams, and supports attorneys and other stakeholders in all phases of litigation. She has worked on behalf of the US Department of Justice (DOJ) and the Federal Trade Commission (FTC), and consulted to firms in numerous industries, including technology, media, telecommunications, pharmaceuticals, consumer products, financial services, manufacturing, and chemicals.
Professor Laby is an expert in securities law, the regulation of investment management, and the fiduciary obligation. He has been retained as a consultant and expert witness, and he has testified both in court and in Securities and Exchange Commission (SEC) administrative proceedings in securities and corporate law matters involving issues such as investment suitability, fiduciary duty, the roles and responsibilities of broker-dealers and investment advisors, and conflict-of-interest transactions in the investment industry. Professor Laby is coauthor of a multi-volume treatise titled The Regulation of Money Managers: Mutual Funds and Advisers. He has published articles on topics such as the regulation of financial services firms, the regulation of retirement advisors, and the regulation of global financial firms in publications such as the Washington Law Review, the Florida Law Review, the Boston University Law Review, the Tulane Law Review, the Review of Banking and Financial Law, and The Business Lawyer. Professor Laby previously served on the board of directors of the Certified Financial Planner Board of Standards, as chairman of the board of trustees of the SEC Historical Society, and as a member of an American Bar Association task force that prepared the fourth edition of the Fund Director’s Guidebook. Prior to joining the Rutgers faculty, Professor Laby served as assistant general counsel at the SEC, where he was responsible for investment management and international matters, and was in private practice.
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.Â
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 more than 500 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.
Professor Snyder is an industrial organization economist whose research focuses on antitrust policy and enforcement, contracting practices, financial institutions, and law and economics. He has consulted on and served as a testifying expert in numerous high-profile cases, opining on liability, damages, proposed mergers, price-fixing allegations, Hatch-Waxman claims involving pharmaceuticals, monopolization claims, and proposed class certifications of both direct and indirect purchasers. In addition, Professor Snyder has testified before combined US Federal Trade Commission (FTC) and US Department of Justice (DOJ) hearings on competition and intellectual property, and has presented separately before the DOJ’s Antitrust Division, where he worked as an economist earlier in his career, and the FTC. He has been a signatory to amicus briefs submitted to the Supreme Court on various price-fixing and Sherman Act issues.
Professor Snyder has written extensively on topics related to antitrust and policy issues, with his articles appearing in prestigious publications such as The Journal of Law and Economics, the Journal of Comparative Economics, The Antitrust Bulletin, and Contemporary Policy Issues. His work has also been featured in major media outlets, including the Financial Times, The Wall Street Journal, and The New York Times.
Professor Snyder also served as the dean of the Yale School of Management from 2011 to 2019, during which time he enhanced the school’s academic programs and financial standing, and established new master’s programs in the areas of management, entrepreneurship, and executive education. He also founded the Global Network for Advanced Management at Yale University, an international consortium of schools devoted to teaching tomorrow’s business leaders around the world. Prior to joining Yale, Professor Snyder was the dean of the business schools of The University of Chicago, the University of Virginia, and the University of Michigan.
Mr. Decter specializes in the application of microeconomics, finance, and data analysis to complex securities and antitrust litigation and business strategy cases, most notably in matters related to residential mortgage-backed securities, collateralized debt obligations and credit default swaps, residential mortgage lending, mortgage reinsurance, commercial insurance, private equity, and payment cards. He has conducted damages analyses, and supported multiple experts in the areas of statistical sampling, loan and securities underwriting, damages, and loss causation.
Mr. Decter's business litigation experience focuses on finance matters in which he has managed large case teams and data sets in working with testifying experts. He supported academic affiliates in their examination of class certification issues related to commonality, predominance, and causation in In re Countrywide Financial Corp. Mortgage Marketing and Sales Practices Litigation, a mortgage marketing matter in which the plaintiff's motion for class certification was denied. Mr. Decter also supported an expert in filing a report on behalf of the defendants in New Jersey Carpenters Vacation Fund et al. v. The Royal Bank of Scotland Group plc et al., a case that marked the first major ruling on class certification among the numerous mortgage-backed securities actions pending in courts across the country at the time. He has also conducted damages analyses and worked with experts in numerous securities, antitrust, and intellectual property cases. Mr. Decter's business strategy engagements related to strategic pricing, portfolio management, and economic cost studies have spanned multiple industries, including pharmaceuticals, telecommunications, information technology, and manufacturing.
Prior to joining Analysis Group, Mr. Decter was a management consultant in the telecommunications industry. He also has several years of telecommunications industry experience in strategic planning, business development, and product management.
Professor Jiang is a finance expert whose research focuses on corporate governance, institutional investment, technology, and financial markets. She has published extensively on M&A, as well as corporate finance and governance issues related to control changes. Her work has been published in numerous peer-reviewed journals and featured in major media outlets, including The Wall Street Journal, The Economist, Institutional Investor, Money, Fortune, Businessweek, The New York Times, and the Financial Times. Professor Jiang is the recipient of several awards for research excellence, including from The Journal of Finance, The Review of Financial Studies, and the Journal of Financial Economics, as well as best paper prizes from the Western Finance Association, the Chicago Quantitative Alliance, INQUIRE UK, the Q Group, and the Investor Responsibility Research Center Institute. She has served in editorial roles for several prominent journals, including The Review of Financial Studies, The Journal of Finance, and Management Science.
Professor Jiang is currently the vice president of the American Finance Association. Her three-year term will include a year as president-elect in 2025 and a year as president in 2026. She is also a senior fellow at the Program on Corporate Governance at Harvard Law School, a fellow at the Financial Management Association, a research associate in the Law and Economics and Corporate Finance Programs at the National Bureau of Economic Research, a member of the Committee on Capital Markets Regulation, and the president of the Society for Financial Studies. Prior to joining Goizueta Business School, Professor Jiang was the Arthur F. Burns Professor of Free and Competitive Enterprise and the vice dean for curriculum and instruction at Columbia Business School.
Professor Chalmers is an expert in securities issues, including the trading behavior of investors and the pricing of securities. He has undertaken extensive research in municipal bonds, mutual funds, and trading costs, much of which has been published in leading peer-reviewed academic journals, including The Journal of Finance, the Journal of Financial Economics, and The Review of Financial Studies. In the area of mutual funds, his research with Professors Roger Edelen and Greg Kadlec discovered and explained the source of perverse incentives exploited by so-called market timers in their trading of mutual funds. He has also written about stale pricing problems in equity mutual funds and mutual fund transaction costs, and has collaborated with other mutual fund experts, such as Professors Daniel Bergstresser and Peter Tufano, on research analyzing fund performance across fund marketing channels. He also has extensive expertise in municipal bond pricing and valuation issues. Professor Chalmers' research has been cited in reports by the General Accounting Office and in several testimonies provided before the House Financial Services Committee, as well as being widely referenced in major media outlets. He has authored several expert reports and provided testimony before the US District Court of Wisconsin.
Dr. Schatzki has a broad range of expertise in energy, environment, finance, and competition matters. He supports clients in a range of contexts, including strategic and financial advice, policy analysis, regulatory and rulemaking proceedings, and litigation.
Dr. Schatzki has deep experience in electricity, natural gas, petroleum, and renewable energy. His expertise in the electricity sector includes wholesale energy and capacity market design; utility regulation and ratemaking; economic impact analysis of new market rules, regulations, and generation and transmission investments; contract analysis and disputes; financial valuation; and options analysis. Dr. Schatzki has testified before US state and federal, as well as Canadian provincial, regulatory commissions. He has supported the analysis of alleged market manipulation and damages in high-profile litigations such as FERC v. Barclays and lawsuits following the California electricity crisis.
Dr. Schatzki works extensively on environmental economics, policy, and regulation. Recently, he has focused on the intersection of climate policy and energy markets, and disputes involving water resources and environmental contamination. His research has been published in distinguished energy- and environment-related publications, and he has provided research for prominent organizations such as the Electric Power Research Institute, the Edison Electric Institute, and the Federal Energy Regulatory Commission.
In finance and competition matters, Dr. Schatzki has worked with clients on litigation and non-litigation projects in many sectors, including energy, financial instruments, foreign exchange, insurance, airlines, and retail products.
Professor Kothari is an expert on financial reporting and capital markets. His research interests include the measurement of security price performance, the effect of disclosures by management on the equity cost of capital, and the economic determinants of the relationship between earnings changes and stock returns. Professor Kothari also has expertise in valuation, asset allocation, and international accounting practices. From 2019 to 2021, he served as the chief economist and director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission (SEC). Professor Kothari has provided expert reports and trial testimony, and has consulted to leading US and international banks and asset management companies, US steel companies, Ernst & Young, KPMG, PricewaterhouseCoopers, and the US Department of Justice. He has published articles in peer-reviewed journals such as Management Science, The Accounting Review, and the Journal of Accounting Research. For over 20 years, Professor Kothari served as an editor of the Journal of Accounting and Economics. Previously, he was the global head of equity research for Barclays Global Investors, where he was responsible for research supporting its active equity strategies.
Ms. Kirk Fair has extensive experience leading the development of economic and market analyses, assessing class certification and damages, evaluating consumer behavior, and testifying in a wide range of matters in the US, Canada, and Europe. She has been deeply involved in merger investigations and major antitrust litigation, as well as intellectual property (IP), false advertising, and tax matters. She also is a founder of the Analysis Group’s Surveys & Experimental Studies practice.
Ms. Kirk Fair specializes in evaluating competition and substitution patterns to examine potential competitive effects in mergers and “but-for” outcomes in antitrust litigation. She has significant analytical and testifying experience in cartel matters, notably in a number of prominent cases in the technology, consumer products, and financial services industries. She also has evaluated competition, pricing, and outputs in connection with merger investigations in the US, Canada, and the EU. In addition to having served as a compliance monitor for several years, she has supported the US Department of Justice (DOJ), the Federal Trade Commission (FTC), and the Canadian Competition Bureau (CCB) in a variety of merger investigations.
Ms. Kirk Fair also has particular expertise in the development, administration, and analysis of consumer surveys for use in antitrust, false advertising, and IP matters, as well as merger reviews and strategy cases. She has testified in arbitration, deposition, and trial in matters involving the design and implementation of consumer surveys, as well as the evaluation of opposing parties’ surveys and of statistical sampling and analyses. Her work has been used to support and critique damages models and to provide insights into the role of consumer choice in market definition.
Ms. Kirk Fair serves as a Vice-Chair to the American Bar Association (ABA) Antitrust Law Section’s Pricing Conduct Committee. She has received numerous awards for her accomplishments, including the W@ “40 in Their 40s: Notable Women Competition Professionals” and the Concurrences Antitrust Writing Award for her coauthored article “The Tyranny of Market Shares: Incorporating Survey-Based Evidence into Merger Analysis” (Corporate Disputes).
Professor Scharfstein is a biostatistician with expertise in the design, monitoring, and analysis of randomized clinical trials and observational studies. His research focuses on methods of reporting the results of clinical studies in which missing or censored data, non-compliance, or non-random treatment assignment may have resulted in selection bias. He has testified at deposition and trial in a number of litigation matters involving drug and medical device safety and efficacy in and outside the US. In addition, Professor Scharfstein regularly consults to the pharmaceutical industry, advising on statistical issues related to the regulatory approval of drugs and medical devices. He has served on multiple data safety monitoring boards for clinical trials, including for the National Institute of Allergy and Infectious Diseases. Professor Scharfstein is the principal biostatistician for the Major Extremity Trauma Research Consortium, which conducts multicenter clinical research studies relevant to the treatment and outcomes of orthopedic trauma sustained in the military. Professor Scharfstein is a fellow of the American Statistical Association, a recipient of the ASA’s George W. Snedecor Award for best paper in biometry, and a recipient of the Harvard T.H. Chan School of Public Health Department of Biostatistics’ Lagakos Distinguished Alumni Award. He has received multiple teaching excellence awards for his classes on probability and statistical theory.
Mr. Egland has worked on a wide range of assignments related to litigation, internal corporate consulting, and government investigations for over 35 years. He specializes in financial economics, statistical sampling, and the economics of competition. Mr. Egland directs the firm’s risk management practice, which provides comprehensive risk audits of investment portfolios. He has presented Analysis Group’s work to government regulatory agencies, to corporate boards, and in court. He has led several teams evaluating claims of excessive fees in the mutual fund industry and on ERISA cases involving the reasonableness of fees charged to 401(k) plan participants. In addition, Mr. Egland has worked on several studies assessing the risk profiles of investment portfolios. In Florida State Board of Administration v. Alliance Capital Management, he led a case team that supported six external experts in a landmark trial victory, in which a Florida jury found Alliance Capital not liable for the losses incurred by the Florida Retirement System pension fund as a result of Alliance Capital’s investments in Enron stock. He also led a case team on behalf of American Century Investments in one of the largest mutual fund excessive fee actions ever filed, which was voluntarily dismissed by the plaintiffs before trial. Mr. Egland is a CFA charterholder.
Professor Kahn’s research interests include brand management and loyalty, consumer choice and decision making, price promotions, and retailing. She has served as an expert witness and testified at deposition in numerous matters. Professor Kahn is the author of Global Brand Power: Leveraging Branding for Long-Term Growth and The Shopping Revolution: How Retailers Succeed in an Era of Endless Disruption Accelerated by COVID-19, and coauthor of Grocery Revolution: The New Focus on the Customer. She has published more than 70 articles in leading academic journals. She is a former area editor of Marketing Science, the Journal of Consumer Research, the Journal of Consumer Psychology, and the Journal of Marketing, and has served on the editorial boards of the Journal of Marketing, the Journal of Marketing Research, Marketing Science, the Journal of Consumer Research, the Journal of Behavioral Decision Making, and Marketing Letters. Prior to joining The Wharton School, Professor Kahn was on the faculty of the UCLA Anderson School of Management. She also served as dean of the Miami Herbert Business School.
Dr. Chan is a practicing internal medicine physician and an economist. His research draws on industrial organization, labor economics, and applied econometric principles to study how technology and information are used in health care, and how they affect productivity and patient care. Dr. Chan’s government service includes roles as entrepreneur in residence in the White House Office of Science and Technology Policy, staff fellow in the Food and Drug Administration’s (FDA’s) Center for Drug Evaluation and Research, and medical device fellow in the FDA’s Center for Devices and Radiological Health. He has published on health economics and policy in medical and economics journals such as The New England Journal of Medicine, the Journal of Political Economy, Econometrica, and The Quarterly Journal of Economics. Dr. Chan presents frequently at national and international conferences and has received numerous grants and awards, including the National Institutes of Health Director’s High-Risk, High-Reward Early Independence Award, and a Marshall Scholarship. He is a senior fellow at the Stanford Institute for Economic Policy Research and a faculty research fellow at the National Bureau of Economic Research.
Dr. Signorovitch advises life sciences companies on data analytics for business critical research and decision making. He has broad experience leading the strategic development and implementation of analytics across the product life cycle, from early-phase clinical studies to market access and real-world evidence generation. Dr. Signorovitch’s practice areas span trial design, multi-stakeholder collaborations, natural history studies, regulatory interactions, health economic modeling, global reimbursement submissions, policy evaluation, real-world evidence development, individualized medicine, predictive analytics, and due diligence for acquisitions. He has particular expertise in developing and applying new methodologies to address health care research challenges, and in designing analytics platforms to enhance collaborative research and decision making. Dr. Signorovitch’s work has been used to inform clinical regulators and health care payers in US and global markets, published in peer-reviewed journals, and presented at clinical and economic research conferences. Prior to joining Analysis Group, Dr. Signorovitch was a research fellow at the Harvard-MIT Division of Health Sciences and Technology.
Professor Syverson is an expert in industrial organization and microeconomics. His research spans numerous topics related to the interactions of firm structure, market structure, and productivity. Professor Syverson has been retained as an expert in several engagements and has provided deposition testimony in antitrust litigation. He has published widely in leading economic and industry journals, including the Journal of Economic Perspectives, the American Economic Review, and Econometrica, and he coauthored the intermediate-level textbook Microeconomics. Professor Syverson’s research has received multiple grants from the National Science Foundation, among others. He is a former editor of the Journal of Political Economy and has served on a number of editorial boards. Professor Syverson is a research associate in several programs at the National Bureau of Economic Research, including Productivity, Innovation, and Entrepreneurship; Industrial Organization; and Environment and Energy Economics. Prior to his appointment at The University of Chicago, he was a mechanical engineer for Loral Defense Systems and Unisys. He holds undergraduate degrees in both mechanical engineering and economics from the University of North Dakota.
Dr. Lehmann specializes in applying microeconomics, econometrics, and statistical methods to complex litigation and government investigations in the areas of antitrust and competition, labor and employment, health care, and commercial damages. She has evaluated market definition, market power, competitive dynamics, class certification, liability, and damages issues in cases involving allegations of price-fixing, monopolization, and other anticompetitive conduct. Dr. Lehmann has extensive experience in labor market antitrust matters involving allegations of no-poach and wage-fixing agreements in a variety of industries. In her work with pharmaceutical and medical device industries, she has analyzed economic, health, and scientific data to assess liability, damages, and claims of causation and harm. She also frequently supports biostatisticians, epidemiologists, scientists, and regulatory experts in evaluating research and development processes and analyzing clinical trial, laboratory testing, registry, medical claims, and adverse events data in product liability litigations and intellectual property disputes. She has authored expert reports and provided testimony on class certification, damages, causation assessments, and statistical issues in antitrust and competition, data security breach, labor and employment, and commercial litigation matters.
Dr. Lehmann’s research has been published in the Journal of Economic Literature, The Journal of Human Resources, Labour Economics, Cartel & Joint Conduct Review, Distribution, Cybersecurity Law & Strategy, Antitrust Report, and Antitrust Magazine, and her academic work has been cited in leading media outlets, including Scientific American, Forbes, and BBC News. She serves as a co-chair of the Distribution and Franchising Committee of the American Bar Association (ABA) Antitrust Law Section. Prior to joining Analysis Group, Dr. Lehmann was an assistant professor of economics at the University of Houston, where she taught courses in labor economics and microeconomics.
Dr. Kupiec’s research interests include quantitative financial risk measurement, systemic risk, deposit insurance, and the regulation of banking and financial services. At the American Enterprise Institute, he has authored several studies on systemic risk measurement and related regulations, bank stress testing, and bank regulations that follow financial crisis, including their impact on the wider economy. Dr. Kupiec was an associate director of the Division of Insurance and Research and director of the Center for Financial Research (CFR) at the Federal Deposit Insurance Corporation. In these roles, he oversaw research on bank risk measurement that contributed to the development and implementation of regulatory policies, including the international Basel III framework. He also served as chairman of the Research Task Force of the Basel Committee on Banking Supervision. Dr. Kupiec has worked at the International Monetary Fund, Freddie Mac, and J.P. Morgan, as well as for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. Prior to entering the financial services industry, Dr. Kupiec was an assistant professor of finance at North Carolina State University. He has published articles in several academic journals, including The Journal of Finance, the Journal of Financial Intermediation, the Journal of Financial Stability, the Journal of Financial Services Research, The Journal of Risk, and the Journal of Investment Management.
Mr. Ellman specializes in the application of microeconomics, statistics, and financial analysis to complex commercial litigation matters and government investigations. He has worked on behalf of the US Department of Justice and Federal Trade Commission, and has consulted to law firms in litigation and regulatory matters involving antitrust and competition, drug safety and product liability, intellectual property, data breaches, and general commercial damages issues. Mr. Ellman has conducted market analyses and assessments of competitive effects in major antitrust matters, as well as for proposed and executed mergers. He has also conducted statistical analysis, market research, and other economic analyses to evaluate the appropriateness of class certification in antitrust and commercial disputes, and to assess liability and damages. Mr. Ellman’s expertise in matters involving the pharmaceutical and medical device industries includes analyzing therapeutic markets and competitive dynamics; assessing evidence of causal associations in product liability suits; and conducting statistical analyses of market surveillance, clinical trial, and observational study data to evaluate the comparative effectiveness, safety, and dosing patterns of different treatments across a variety of therapeutic categories. He has published articles on a wide range of topics, including the assessment of causation and harm in data breach litigation, the appropriate analysis and interpretation of post-marketing surveillance data in product liability cases, and the economics of biosimilar drugs.
Professor Tucker is an industrial organization economist whose research spans the fields of technology, health care, real estate, and media and advertising. A particular focus of her work is on the role of data and digitization on competition and consumer behavior. Professor Tucker has deep experience as an expert witness in a variety of cases spanning antitrust and competition, intellectual property, data and data privacy, online advertising, and digital platforms. She has assessed market definition, competitive effects, liability, and class certification issues in matters involving pharmaceuticals, health insurance, consumer goods, sports and entertainment, energy, and consumer electronics, among other industries. She has testified about the effects of data, privacy, and algorithms before Congress, and has presented her work to agencies and organizations such as the Federal Trade Commission (FTC), the Federal Communications Commission (FCC), the International Monetary Fund (IMF), the European Commission Directorate-General for Competition (DG COMP), and the Australian Competition and Consumer Commission (ACCC).
Professor Tucker has published widely on innovation and technology diffusion; online advertising, customer heterogeneity, and algorithms; privacy regulation; network effects; and the economics of social networks. At the National Bureau of Economic Research (NBER), she serves as a research associate, focusing on privacy; a principal investigator on the Project on the Economics of Digitization; and a co-organizer of the Economics of Artificial Intelligence initiative, supported by the Alfred P. Sloan Foundation. Professor Tucker is a co-founder of the MIT Cryptoeconomics Lab, which studies digital currencies and blockchain, and chair of the MIT Sloan Ph.D. Program. Her articles have appeared in leading scientific, economic, management, and marketing journals. She has previously served as associate editor of Management Science and the Journal of Marketing Research and coeditor of Quantitative Marketing and Economics, and she is currently senior editor of Marketing Science.
Professor Chandra focuses his research on innovation, productivity, and cost growth in health care; medical malpractice; and racial disparities in medical care. He has testified before the US Senate and the US Commission on Civil Rights and served as a special commissioner on the Massachusetts Special Commission on Provider Price Reform. Professor Chandra is a member of the Congressional Budget Office’s panel of health advisors, a research associate at the National Bureau of Economic Research, and an elected member of the American Academy of Arts and Sciences, the National Academy of Medicine, and the National Academy of Social Insurance. His research has been published in American Economic Review, the Journal of Political Economy, The Quarterly Journal of Economics, The New England Journal of Medicine, JAMA, Health Affairs, and other professional journals. Professor Chandra has received several awards for his work, including the Kenneth J. Arrow Award for best paper in health economics, the Garfield Award for outstanding research on the economic impact of medical and health research, the National Institute for Health Care Management Foundation Health Care Research Award, and the American Society of Health Economists’ ASHEcon Medal.
Dr. Siegel's research focuses on the management, strategy, and organizational issues related to cybersecurity, the intelligent integration of information systems, risk management, data analytics, state stability, systems modeling, security of energy delivery systems, and security researchers (aka hackers). He has served as an expert witness and filed expert reports in a number of IT-related litigations for clients such as SAP, JPMorgan, IBM, Kenexa, Fisher Scientific, Ernst & Young, and Macromedia. His expert case work includes matters involving the acquisition of a software firm, software patent litigation and review (e.g., the Patent Trial and Appeal Board case Versata v. SAP), patent infringement and validity analysis, software licensing agreement disputes, and matters involving financial services software and software related to the extraction of data from web pages. Dr. Siegel has published articles on such topics as simulation modeling for cyber resilience, cyber vulnerability markets, data management strategy, architecture for practical metadata integration, heterogeneous database systems, and managing and valuing a corporate IT portfolio using dynamic modeling of software development and maintenance processes.
Ms. Kamerick is an expert in corporate governance, corporate finance, securities law, and mergers and acquisitions (M&A). She has held CFO positions at a number of prominent firms – including BP Amoco (Americas), Heidrick & Struggles, and Houlihan Lokey – and served as a senior financial and legal advisor to major multinational corporations. Ms. Kamerick is a former M&A and securities attorney with Skadden, Arps, Slate, Meagher & Flom. She has significant experience overseeing 401(k) and defined-benefit retirement plans, and chairing defined-benefit retirement plan investment committees. In addition to consulting on financial, strategic, and corporate governance matters, Ms. Kamerick serves on several boards, frequently acting as chair of the audit committee and as the board’s Securities and Exchange Commission (SEC) financial expert. She also serves on the boards of the Legg Mason Closed-End Mutual Funds and the AIG Funds & Anchor Series Trust (a mutual fund complex). Ms. Kamerick is a National Association of Corporate Directors (NACD) Board Leadership Fellow and holds the NACD Directorship certification. She has held several adjunct professorships and lectured on corporate governance and fiduciary duties at numerous universities, as well as in NACD’s Battlefield to Boardroom program for flag officers. Ms. Kamerick is a frequent contributor to Agenda and Directors & Boards. She serves on the Alzheimer’s Association board of directors, as well as its audit and finance committees. In 2020, she was a judge for IR Magazine’s Corporate Governance Awards.
Professor Slottje has deep experience in both academia and economic consulting. An emeritus professor of economics at Southern Methodist University, he has been working in litigation consulting for more than three decades in senior positions with several international firms. He has worked with many leading law firms, testifying at deposition and trial in hundreds of prominent matters.
An economist and a statistician, Professor Slottje is an expert in the fields of labor economics, consumer demand, industrial organization, and statistics and econometrics, allowing him to bring a unique perspective and skill set to his consulting assignments. He has published more than 150 journal articles and more than a dozen books, and has been ranked among the world’s top three scholars in applied econometrics based on his publishing record in the field. Professor Slottje is a member of the American Economic Association, the American Statistical Association, and The Econometric Society.
Dr. Mathur specializes in the application of microeconomics, statistics, and econometrics to complex litigation matters, regulatory investigations, and consulting engagements in the areas of antitrust and competition, class certification, intellectual property, and commercial damages. Dr. Mathur has provided expert economic testimony on antitrust, class certification, and damages issues and has testified at depositions and in federal court. She regularly collaborates with academic and industry experts, leads consulting teams, and supports attorneys and other stakeholders in all phases of litigation. She has worked on behalf of the US Department of Justice (DOJ) and the Federal Trade Commission (FTC), and consulted to firms in numerous industries, including technology, media, telecommunications, pharmaceuticals, consumer products, financial services, manufacturing, and chemicals.
Professor Laby is an expert in securities law, the regulation of investment management, and the fiduciary obligation. He has been retained as a consultant and expert witness, and he has testified both in court and in Securities and Exchange Commission (SEC) administrative proceedings in securities and corporate law matters involving issues such as investment suitability, fiduciary duty, the roles and responsibilities of broker-dealers and investment advisors, and conflict-of-interest transactions in the investment industry. Professor Laby is coauthor of a multi-volume treatise titled The Regulation of Money Managers: Mutual Funds and Advisers. He has published articles on topics such as the regulation of financial services firms, the regulation of retirement advisors, and the regulation of global financial firms in publications such as the Washington Law Review, the Florida Law Review, the Boston University Law Review, the Tulane Law Review, the Review of Banking and Financial Law, and The Business Lawyer. Professor Laby previously served on the board of directors of the Certified Financial Planner Board of Standards, as chairman of the board of trustees of the SEC Historical Society, and as a member of an American Bar Association task force that prepared the fourth edition of the Fund Director’s Guidebook. Prior to joining the Rutgers faculty, Professor Laby served as assistant general counsel at the SEC, where he was responsible for investment management and international matters, and was in private practice.
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.Â
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 more than 500 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.
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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.