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Competition Economists 2016

We identify 312 leading competition economists who are renowned for their provision of expert advice and testimony in complex antitrust matters taken from 127 firms and institutions across more than 30 countries. 

In this section we recognised the leading firms and experts that stand out in our worldwide research.

Most Highly Regarded Individuals
Janusz Ordover Compass Lexecon, Washington DC
Carl Shapiro University of California, Berkeley
Dennis Carlton Compass Lexecon, Chicago
Steven Salop Charles River Associates, Washington DC
Derek Ridyard RBB Economics, London
Simon Bishop RBB Economics, Brussels
Cristina  Caffarra Charles River Associates, London
Jorge Padilla Compass Lexecon, Madrid
Damien  Neven Charles River Associates, Brussels
Jonathan Orszag Compass Lexecon, Washington DC

Charles River Associates stands out at the head of the research with an unrivalled 41 nominees in this edition. More than half are based in the US, with 10 in Washington DC alone. Steven Salop is an “internationally renowned” senior consultant to CRA as well as professor of economics and law at the Georgetown University Law Center, and he is “absolutely encyclopaedic about this field”. Andrew Dick has appeared before the US Department of Justice and the Federal Trade Commission and has submitted expert reports and has testified on antitrust issues in US district court. The “always-impressive” Gregory  Vistnes has been retained by the DOJ to serve as their expert witness in antitrust litigation. “There is no higher compliment,” said one interviewee. Michelle Burtis, meanwhile, is praised by sources for her “formidable analytical mind”. Elsewhere in the US, Michael  Salinger in Boston is a former director of the Bureau of Economics at the FTC and widely respected, while Robert Maness in Texas is a "smart economist, very thoughtful and an extremely likeable witness". Cristina  Caffarra heads the firm’s European competition practice and is “one of the leading experts in the market worldwide”. She has advised before the European Commission (DG Comp) on many high-profile merger investigations in recent years. William  Bishop is a senior consultant to the firm and “incredibly well qualified” – he has conducted research and written analyses on over 100 industries in relation to litigation and investigations by the OFT, the European Commission and national competition authorities. Matthew  Bennett has worked on some of the highest-profile mergers of recent times, and his background at the UK communications regulator Ofcom also “stands him in good stead”. The “great” Margaret  Sanderson is practice leader of antitrust and competition economics in Toronto. She has testified before Canadian courts and regulatory authorities as well as the FTC, and previously headed the economics unit at the Competition Bureau. Raphaël De Coninck heads CRA's Brussels office which sees four nominees selected. He is “technically superb and commercially insightful”, and brings with him experience from his previous position in DG Competition’s chief economist team. Damien  Neven is a “clear market leader”, a former chief economist at DG Competition and an “immensely distinguished economist”.

Thirty nominees from Compass Lexecon are selected for inclusion from seven countries. Janusz Ordover is “one of the standout economists in the field worldwide” and garnered more votes than any other individual in our research. A former deputy assistant attorney general for economics in the antitrust division of the US Department of Justice, he is “simply as good as it gets”. The “eminent” Robert Willig, a former deputy assistant attorney general for economics in the antitrust division of the Department of Justice, is – in the words of one interviewee – “someone we all look up to”. Margaret Guerin-Calvert is a founding director of Compass Lexecon and an “absolutely brilliant expert witness”, and is also considered a “true ambassador for the practice of competition economics”. Jonathan Orszag is a “real star”, praised for his work as consultant on a range of merger matters as well as for his “always highly persuasive” testimony before the United States Congress, domestic and international courts, the European Court of First Instance, and a range of regulatory authorities at home and abroad. Mary Coleman was praised to researchers as a “careful and experienced antitrust economist". Outside DC, Dennis Carlton in Chicago is very popular with clients and peers alike. “He was my professor at the University of Chicago and he is just brilliant,” said one source. He recently served as the deputy assistant attorney general in the antitrust division of the Department of Justice and is universally respected across the market. Richard Gilbert is senior consultant to the firm in California and emeritus professor of economics and professor of the graduate school at the University of California, Berkeley. He is “absolutely fantastic” and another deputy assistant attorney general in the antitrust division of the Department of Justice to make the list; he led the effort that developed joint DOJ and FTC Antitrust Guidelines for the Licensing of Intellectual Property. Daniel Rubinfeld is another former holder of this position and is similarly revered in the market; he was highly recommended by clients and peers alike across the US and beyond. The “great” Lorenzo Coppi is rated as “the go-to person in Brussels”, while Jorge Padilla is head of Compass Lexecon Europe and one of the continent’s most highly nominated individuals. He has given expert testimony before competition authorities and courts in several EU states, as well as before the European Commission. Neil Dryden is one of four nominees in London and comes highly recommended: “He has a first-class analytical mind and is able to conceptualise and develop rational and compelling arguments in connection with commercial issues that also make sense from an economic perspective.”

RBB Economics performs strongly with 14 highly rated individuals selected in the following pages. Derek Ridyard in London is a “standout”. He was described as “a thoughtful and highly experienced competition economist and a quality person." He has represented clients including Scandinavian Airlines, Ticketmaster, Unilever and Coca-Cola at competition law hearings and appeared as expert witness in court cases and arbitration proceedings around the world. Adrian Majumdar “has a fantastic ability to write clear advice that is easy to understand”, and is much in demand as a result. Simon Bishop in Brussels is one of the foremost experts in the field worldwide. He is described as a "real big hitter with real gravitas and industry respect. He is really good at taking things back to first principles so as to build a case on solid foundations." Andrea Lofaro is a “major player with impeccable credentials”: he has represented clients such as FedEx, General Electric, Google and Merck, and has given oral evidence before the European Commission. Benoît Durand is “incredibly smart”. He is a former director of economic analysis at the UK’s Competition Commission and was also a member of the chief economist office at DG Comp at the European Commission. With further highly rated nominees in Sweden, the Netherlands and South Africa the firm is “one of the strongest players in this market”.

NERA’s contingent of 14 nominees includes a very strong US presence. Andrew Joskow is an affiliated consultant in DC and a former deputy assistant attorney general for economics at the antitrust division of the DOJ, and also a former senior staff economist on the President’s Council of Economic Advisers. He is “very learned and always impressive”. Sumanth Addanki in New York is “great to work with” and much admired in the market, while Lawrence Wu in California is a former staff economist in the Bureau of Economics of the FTC and “extremely well versed in all facets of competition economics”. In London, Grant Saggers is much in demand, with sources deeming him “flexible, insightful and authoritative – a real asset to his clients”. Further representation in New Zealand and Japan underline the firm’s global credentials.

Oxera is home to six very highly rated individuals. In London, the “exemplary” Gunnar Niels leads the firm’s work in competition policy and litigation and has advised clients such as Nokia, Mars and MasterCard, as well as government bodies and the European Commission. Helen Jenkins has appeared before courts and regulatory authorities in the US, UK, Ireland, South Africa and Hong Kong and is “held in the highest esteem” by the market. The firm has a further presence in Brussels and also in Berlin, where Enno Eilts is "able to explain complicated matters in a way that is understandable for non-economists, and that is quite a skill".

Carl Shapiro is one of three nominees based at the University of California at Berkeley and is among the most highly regarded experts in our research overall. Like a number of others on our list, he is a former deputy assistant attorney general for economics at the antitrust division of the Department of Justice, and was also a member of the President’s Council of Economic Advisers from 2011 to 2012. “It is difficult to think of anyone better,” said one interviewee, summing up the general feeling in the market. Three US nominees appear from The Brattle Group, including Michael Cragg who is much in demand from corporates and regulators for his consulting, research and testifying expertise. In DC, Gregory Sidak at Criterion Economics "is brilliant; he checks every detail and his team does outstanding work".

Elsewhere in the European research, E.CA Economics sees three of its experts selected. In Germany, Hans Friederiszick’s previous experience with DG Competition "gives him an insight that few of his peers can match", while Rainer Nitsche is an "experienced, effective and always impressive" individual who is among the leading figures in our research overall. Vincent Verouden in Brussels "knows this sector inside out" and is universally respected for his work in private practice and at the regulator. In London, Liam Colley of AlixPartners is praised for his "unassailable quality of his work" and recognised for his "impressive" testimony in competition cases. He is listed alongside Mat Hughes, who was commended by corporates and legal counsel alike for his "commercial instincts coupled with tremendous expertise". Nicola Mazzarotto at KPMG is "an increasingly influential force in the market" and won high praise from our sources across Europe, while Nils von Hinten Reed at CEG in Brussels is internationally recognised for the quality of his expert evidence and the "forensic insight he brings to all he does". Rainer Lademann of Lademann & Associates GmbH Economists and Competition Consultants is a "trailblazer in the German market" and was described as "simply brilliant".

In Brazil, Edgard Pereira at his own firm is a "great mind", and his qualifications and experience identify him as a leading figure in the market, and he appears alongside three highly rated nominees from FA Consultoria Econômica including Jorge Fagundes, who "knows all there is to know" about antitrust, regulation and antidumping. Sílvia Fagá de Almeida at LCA Consultores is also recognised as "incredibly smart and also fantastic to work with".

Greg Houston at HoustonKemp in Sydney is recognised for his “absolutely first-rate” expert testimony, as well as for his "impressive breadth of his knowledge". His colleague Carol Osborne in Singapore is praised by clients across the Asia-Pacific region, she is "incredibly thorough" and widely respected.

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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

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