Competition 2019: Economists

WWL has once again identified the leading competition economists from around the world. This year we recognise 397 individuals from 160 firms across 33 jurisdictions for their world-class work providing expert knowledge and testimony in complex antitrust matters.


Who's Who Legal does not list law firms, only individual experts. The leading firms are those in each region whose listed practitioners received the most total nominations in our research. We highlight individuals at other firms who also scored very highly in our research.
The Global Elite Thought Leaders are those individuals who received the highest number of nominations from peers, corporate counsel and other market sources this year. Our research has identified them as being truly outstanding practitioners and the very best in their field.


Global Elite Thought Leaders
1. Adrian Majumdar RBB Economics, London 
2. Cristina Caffarra Charles River Associates, Brussels 
3. Neil Dryden  Compass Lexecon, London
4. Simon Bishop  RBB Economics, Brussels
5. Benoît Durand  RBB Economics, Brussels 
6. Miguel de la Mano Compass Lexecon, Brussels 
7. Rainer Nitsche E.CA Economics, Berlin
8. Hans W Friederiszick E.CA Economics, Berlin
9. David Parker Frontier Economics, London 
10. Mat Hughes  AlixPartners, London
11. Lars Wiethaus  Charles River Associates, Munich

Leading Firms

RBB Economics

This global powerhouse sees 20 economists from across the region identified for their excellence in competition matters.
Adrian Majumdar draws high praise from sources who consider him “one of the top competition economists in London today”. He is distinguished for his “great ability to distil complex ideas into something easily understandable”, leading him to be a “first choice” for clients.
Simon Bishop is recognised as “an excellent, experienced adviser” who is “the best” when it comes to advising clients on cases before a range of international competition tribunals.
Benoît Durand is a “very talented” economist who is considered a favourite among clients thanks to his “ability to simplify complex ideas and his excellent ability to answer clients’ questions".
Andrea Lofaro receives widespread commendations for his “very analytical” approach to complex competition matters. He impresses sources with his “intellectual rigour and great client service”.
Bojana Ignjatovic is “an outstanding economist with exceptionally good client skills” effuse respondents who add, “She is really sharp and great at finding arguments.”
Francesco Rosati receives strong praise from sources who “would rate him most highly” for his work advising on Phase II merger proceedings, abuse of dominance matters and cartel investigations.
Patrick Smith is “an outstanding economist” who is favourably regarded by sources for his “excellent” handling of competition economics pertaining to high-value disputes.
Ethel Fonseca is singled out as “an excellent economist” who is “very easy to work with”. Clients credit her “great understanding of what, when and how lawyers need things” as a key to her success.
Petter Berg is “arguably the most prominent competition economist in Sweden”, according to impressed interviewees. He is highly recommended by sources who say he “has a highly approachable attitude and is great to work with”.

Compass Lexecon

An international player in the competition market that sees 17 individuals recognised here.
Neil Dryden ranks prominently in our research this year as one of the foremost competition economists in the region. He is lauded as “a bright guy” and “fantastic” adviser who “gets the job done”.
Miguel de la Mano is an “excellent and really smart” individual who is renowned in the competition arena for his first-class work on merger control proceedings and sophisticated antitrust investigations.
Jorge Padilla is a “fantastic” and “really top-notch” economist who excels when it comes to providing expert testimony in damages cases and antitrust litigation.
Lorenzo Coppi receives plaudits from widespread peers who credit his “excellent” work advising clients on competition economics and regulation.
Kirsten Edwards-Warren is “one of the best competition economists in the UK” extol sources, one of whom adds, “She really impressed us and our client throughout.”
Justin Coombs draws widespread praise from respondents who “think very highly of him” thanks to his considerable experience advising on cases before the CMA and European Commission.
Thilo Klein is a well-respected name in the German competition market where he is singled out for his “ability to present results in a straightforward and digestible manner”.
Enrique Andreu is a “very efficient economist” who is distinguished as “a great support in merger proceedings” by peers. They add that he is “very good at merger cases involving data crunching”. 

Charles River Associates

This firm performs well this year with 12 practitioners listed here.
Cristina Caffarra ranks as one of the foremost competition experts in the region. She is a “very impressive” economist who sources would “rate highly” for her “amazing work” in the competition space.
Lars Wiethaus is a go-to name for competition matters say sources who note he “provides clear and concise analysis in support of Austrian filings”.
Matthew Bennett is “absolutely a key name in the UK market” applaud sources who say he is “really at the top”. He is “first-rate technically” and “offers great insight and experience in all his cases”.
Raphaël De Coninck is a “superb” economist who is recommended for his “really excellent work” when it comes to delivering expert testimony on competition-related merger and damages cases.
Diana Jackson is “one of a kind”, say sources, winning particular commendations for her impressive work on merger matters.


Here we highlight nine individuals from the firm for their impressive work in the space.
Gunnar Niels enjoys a stellar international reputation for his leading work in the competition space. Mergers and dominance cases are just some of the areas in which he excels.
Helen Jenkins is an “outstanding” economist who impresses market sources with her sweeping knowledge of competition-related litigation and investigations proceedings.
Robin Noble is a widely recognised name in the UK market who is highly sought after for his strong expertise in damages quantification and competition economics.
Pascale Déchamps is a “dynamic and smart” economist who is “always a pleasure to work with” say peers. She is recognised as “a trusted adviser for lawyers and clients” who stands out for her “responsive and creative” approach.
Enno Eilts is “an excellent economist” who is “great to work with” effuse respondents. He focuses his practice on competition economics relating to complex litigation proceedings.

Frontier Economics

This superb outfit achieves eight listings here.
Zoltan Biro is a prominent name in the European competition market. He is recognised as “from a disputes point of view, definitely the leading practitioner in the area”.
David Parker is a “standout” presence in the market who is known for his “exceptional” handling of dominance and merger-related investigations in the UK and across Europe.
David Foster is “extremely well regarded” among peers who say he is “able to translate economic concepts in a language which is directly explicable to clients”.
Mette Alfter is esteemed by sources for her “extremely communicative and collaborative attitude” as well as the “excellent analytical skills and impressive efficiency” she displays. One peer notes, “She is very experienced in all areas of competition policy, in particular cartel damages and mergers.”
Julia Dietrich is “an excellent economist” applaud respondents who add she is “fun to work with” and “very experienced in a number of industries”. 


We recognise six economists from the firm in this edition.
Mat Hughes is “very attentive and bright” credit sources who say he “knows how to zero in effectively on what will make a difference in a case”. One respondent effuses: “He is very impressive and I trust him fully with my clients and cases.”
Liam Colley stands out among peers as “a great public speaker” and a “very persuasive and compelling” economist. One commentator says, “Everyone thinks very highly of him.”
Derek Holt gains recognition for his extensive experience handling competition matters, and is well versed in providing expert counsel on abuse of dominance and market investigation proceedings.


Six members of this excellent competition group are recommended this year.
Nicola Mazzarotto is an “absolutely excellent economist” extol peers who applaud his “wealth of experience in the field”. They note he is “fantastic with clients” and “can always see the wider picture”.
Caitlin Wilkinson is held in high regard by sources who say she always has a “great handle on the detail” of a case and “finds ways to think about things outside the box”.
Laurent Eymard is “very good – and very nice” report interviewees commenting on his abilities in competition matters. He has deep experience in state aid and antitrust matters across Europe.
David Spector is a first-choice name for clients seeking high-quality economic advice, with strong experience in merger and state aid issues.

Other Leading Individuals


At E.CA Economics, Vincent Verouden is held in high esteem by peers in the competition market who credit his impressive work on merger control and state aid matters.

Positive Competition’s Aleksandra Boutin is a “top-notch” economist who is hailed for her “analytical skills and ability to communicate complex results in an understandable and concise way”. Sources commend her “great experience in economic damages evaluation”.
Xavier Boutin is a “very talented” practitioner who is “great to work with” praise peers. His expertise spans merger proceedings and abuse of dominance cases.

Kai-Uwe Kühn at the Brattle Group is a well-established name in the German market where he enjoys a strong reputation for his deep experience in state aid and competition-related cases.


Peter Davis at Cornerstone Research heads the firm’s European competition group and comes “highly recommended” by market commentators for his impressive knowledge of antitrust investigations and litigation proceedings.

The University of Oxford’s John Vickers is a ”very, very good” name in the European competition space, where he is renowned for his deep knowledge of competition regulation and policy.

John Fingleton at Fingleton Associates is an “extremely good” competition economist who is endorsed for his far-ranging skill set when it comes to competition enforcement and merger proceedings. 


Patrick Rey at Institut D'Economie Industrielle is a standout figure in the French market who is recognised here for his leading expertise in competition policy and regulation.


At E.CA Economics, Rainer Nitsche is distinguished as a “key name” for competition matters by sources who say he “has a great sense of what can be explained to judges and how this can be achieved”.
Hans Friederiszick impresses with his “excellent” work on a range of competition matters. One source adulates, “He is by far the best economist in Germany and the most sought after.”

Justus Haucap at Düsseldorf Institute for Competition Economics is a “must-have” name in the listings and is described as a “very prominent figure” in the German market. He is well known for his strong academic knowledge of competition matters.

Rainer Lademann at Lademann & Associates GmbH Economists and Competition Consultants possesses over 30 years’ experience in the competition market where he is recognised for his top-tier expertise in merger control and abuse of dominance proceedings.


At Swiss Economics, Christian Jaag is lauded as “one of the very best economists active today” who is “able to convey and explain highly complex matters to a broad range of audiences”. He possesses “in-depth knowledge of the area” and is known for his “great ability to challenge traditional concepts”.


North America

Global Elite Thought Leaders
1. Carl Shapiro University of California at Berkeley - Haas School of Business, San Francisco
2. Dennis W Carlton Compass Lexecon, Chicago
3. Janusz A Ordover Compass Lexecon, Washington, DC
4. Jerry Hausman MIT, Boston
5. Daniel Rubinfeld Compass Lexecon, Oakland
6. Steven C Salop Charles River Associates, Washington, DC

Leading Firms

Compass Lexecon

Here we recognise 20 economists across the region for their leading work in competition economics.
Dennis Carlton is “one of the best” in the area applaud sources who consider him an “extremely bright and measured” economist. He is renowned for his “first-rate intellect” and is “highly effective at trial”.
Janusz Ordover enjoys a strong international reputation for his leading work in competition matters, with one source noting, “I am a big fan of him and his work.”
Daniel Rubinfeld is singled out as “a key person in the profession” by impressed peers who praise his ability to “translate complicated concepts into user-friendly language”.
Robert Willig is a prominent figure in the US market who excels in complex matters pertaining to antitrust regulation and policy.
“Worldwide figure” Jonathan Orszag is a seasoned expert in competition matters, an area in which he is highly sought after for the first-rate economic and financial analyses he provides to clients. “He has an impeccable resumé and provides strong testimony,” say sources.
Richard Gilbert is a long-standing figure in the US competition space, who is held in high esteem for his tremendous understanding of competition economics and policy.
Mark Israel “does a lot of merger work” say sources who praise his expert handling of economic analysis relating to merger clearance proceedings and competition regulation.
The “talented” Loren Smith has “a thriving practice and does great work", report impressed sources. He is noted as one of those economists who is great at simplifying complex issues for clients, attorneys and agency”.

Charles River Associates

This international firm sees 17 individuals highlighted this year from its North American offices.
Steven Salop is looked upon with enormous favour by market commentators thanks to his profound expertise in microeconomics and antitrust regulation.
Andrew Dick is a “really smart” economist who “always knows what to do”, comment sources. They regard him as “an excellent consultant” who performs well in complex antitrust litigation proceedings.
Gregory Vistnes is a competition economics specialist who is highly respected among market commentators for his leading work on litigation-related economic analysis.
Michelle Burtis is a well-known name in the US market who has a remarkable facility for handling complex damages valuation and antitrust litigation proceedings.
Michael Salinger draws extensive praise from respondents to our research who compliment his profound ability in merger-related competition economics. 

NERA Economic Consulting

This year 11 economists are identified for their excellence.
Lawrence Wu stands out among peers as “an excellent economist” with a wealth of expertise when it comes to when providing expert testimony in competition proceedings.
Ramsey Shehadeh is well versed in handling a range of competition matters including policy and merger proceedings. One source notes, “He is one of my favourites to work with in the US.”
Thomas McCarthy draws praise from peers in the US market who consider him a top name for competition issues across the healthcare and medical devices sectors.
Lauren Stiroh enjoys a strong profile in the US market for her impressive work providing damages valuations, economic analyses and expert testimony on a wide array of competition matters.

Bates White Economic Consulting

Here we recognise nine practitioners from the firm.
Joseph Farrell is an “excellent economist” who is well thought of among peers thanks to his vast experience providing effective counsel as well as expert testimony on complex competition issues.
George Rozanski is “one of the leading economic consultants” in the market extol sources who say “he is a go-to economist on the most complex mergers”.
Michael Whinston is a prominent expert in the US market whose first-class expertise spans antitrust regulation and economics.
Douglas Bernheim ranks as “one of the best” for competition matters say peers who note, “He’s superb,” when it comes to providing expert testimony in complex litigation proceedings. 

Other Leading Individuals


At University of California at Berkeley - Haas School of Business, Carl Shapiro is regarded by respondents as a definite inclusion and is considered one of the foremost competition specialists in the US market.
Michael Katz sits among “the top 10 in the world” for competition-related issues, according to one source. He is recommended for his strong expertise in network markets and competition economics.

MIT’s Jerry Hausman is a well-established economist in the region who is noted for his deep expertise in econometrics pertaining to market competition.

At University of Virginia - Department of Economics, Kenneth Elzinga is a world-class economist who enjoys a sterling reputation in the market for his leading knowledge of competition economics.

David Teece at Berkeley Research Group is esteemed for his impressive work and exceptional experience relating to antitrust policy and economic theory.

Gregory Sidak at Criterion Economics “always does an excellent job” praise peers who “would definitely recommend him” for his adept handling of damages valuations in contentious proceedings. 



Leading Individuals


At HoustonKemp Economists, Greg Houston “has a leading reputation in Australia and New Zealand” highlight sources who add he is “extremely well rated in the market” for his expertise in competition matters.

Philip Williams at Frontier Economics leads the legal and competition practice group at the firm, and is hailed as an authority when it comes to applying economic theory to sophisticated competition disputes.

New Zealand

At NERA Economic Consulting, James Mellsop enjoys a stellar reputation in the region where he is lauded as “the go-to competition economist in New Zealand”.

Hayden Green at Axiom Economics is “extremely hard working” and “great to deal with” applaud sources who note he is “incredibly quick and has an impressive and commanding knowledge of his subject area”.


Elsa Chen at Allen & Gledhill co-leads the firm’s competition practice and is renowned in the market for her considerable knowledge and understanding of competition policy and regulation.


Latin America

Leading Individuals


At Insper Institute and Global Economics Group, Paulo Furquim de Azevedo is admired by market sources who “strongly recommend” him for his “excellent academic background” as well as his ability to bring “smart solutions to complex problems”.

At LCA Consultores, Sílvia Fagá de Almeida is recognised as “an extremely hard-working and talented economist” who “gives a lot of attention to the details, which really makes a difference in a case”.
Bernardo Gouthier Macedo is a long-established figure in the Brazilian market who is applauded for his top-tier expertise in competition economics and market intelligence matters.


Juan-Pablo Montero at the Pontifical Catholic University of Chile enjoys “an impressive reputation” in the Chilean market where he is distinguished for his “brilliant performance when faced with complex cases”.


Eduardo Perez Motta at SAI Law & Economics is highly esteemed by market commentators who consider him a go-to name in the region for complex competition issues. He is noted for his strong experience gained from his time at the national competition authority.

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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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