Commercial Damages
Overview
Engagements
Experts
Publications

The Brattle Group works with clients on commercial damages issues arising from a wide variety of actions including antitrust, patent infringement, breach of contract, fraudulent disclosure, toxic tort, and product liability.

We present economic analysis and information clearly, and defend principled economic and finance arguments while exposing the flaws in opposing opinions. We have provided expert testimony in federal and state courts, in administrative proceedings, and before U.S. and international arbitrators and mediators.

In addition to serving as expert witnesses, we support leading academics with whom we work. Our academic principals include Daniel McFadden, Professor of Economics at the University of California at Berkeley and recipient of the 2000 Nobel Prize in Economics in recognition for his pioneering work in econometrics, and Stewart Myers, Professor of Finance at MIT’s Sloan School of Management and a co-author of the world’s best-selling graduate textbook on corporate finance.

Our Academic Advisors also form an extensive network of distinguished academics in economics, finance, and accounting. They bring to our client engagements exceptional credentials and industry expertise in commercial damages matters.

The Brattle Group’s industry experience in this area includes: Agricultural Products, Airlines, Banking, Consumer Products, Credit Cards, Computer Hardware and Software, Electricity, Financial Institutions, Industrial Products, Insurance, Media and Broadcasting, Medical Devices, Metals and Mining, Natural Gas and Petroleum, Pharmaceuticals, Railroads, Semiconductors, Shipping, and Telecommunications.

Our Focus

  • Quantifying damages using techniques such as creating and evaluating sophisticated financial models, applying comparables and option valuation approaches, and conducting econometric and statistical analyses such as event studies
  • Analyzing alternative damages theories, such as reliance, restitution, lost profits or expectancy, and out-of-pocket costs
  • Identifying and quantifying mitigation opportunities
  • Developing and critiquing “but for” assumptions and projections
  • Performing industry analyses, including evaluating market size, prices, seasonality, and substitutes under alternative assumptions
  • Estimating the cost of capital
  • Conducting forensic accounting investigations

Principals
Abere 068
Principal
+1.212.789.3650
Dr. Abere provides economic research, data analysis, and expert witness testimony in cases involving antitrust, contracts, intellectual property, and other commercial litigation as well as regulatory proceedings. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Bazelon 066
Principal
+1.202.955.5050
Dr. Bazelon consults and testifies in numerous telecommunications matters, ranging from wireless license auctions, spectrum management, and competition policy, to patent infringement, wireless reselling, and broadband deployment. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Borucki 113
Principal
+1.617.864.7900
Ms. Borucki is a financial economist with experience providing advice and developing expert testimony on the application of corporate finance and economics in both litigation and strategic engagements. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Caldwell 3
Principal
+44.20.7406.7900
Richard Caldwell has extensive experience in economic and financial analysis and valuation across a broad range of industries, from electric power and natural gas to banking and credit cards. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cameron 063
Principal
+1.617.864.7900
Dr. Lisa Cameron is an economist with two decades of experience consulting to attorneys and companies involved in commercial litigation, regulatory proceedings, and other complex matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Chodorow 075
Principal
Darrell Chodorow has more than 15 years of consulting experience in commercial damages, valuation, and tax matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cohen 065
Principal
+1.617.864.7900
Mr. Cohen specializes in financial modeling and valuation, with a focus on complex business litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cragg13
Principal
(Cambridge) +1.617.234.5721
(Toronto) +1.416.644.8877
Dr. Cragg has extensive consulting, research, and expert witness experience in corporate finance, financial services, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Garcia 084
Principal
+34.91.418.69.70
Dr. García advises clients on competition, regulation, and restructuring policy in the energy, banking, telecommunications, and food supply industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Herscovici 087
Principal
Dr. Herscovici specializes in the application of economics, finance, and data analysis to litigation and other complex business issues. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hesmondhalgh 086
Principal
Dr. Hesmondhalgh has worked as a consultant in the energy sector for more than 20 years, predominantly in the electricity and gas sectors. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hinton 035
Principal
+1.212.789.3666
Mr. Hinton has over 20 years of experience directing projects and providing expert testimony in securities litigation and enforcement. Mr. Hinton is an expert on topics in finance, economics, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Lapuerta 103pp
Principal
+44.20.7406.7900
Mr. Lapuerta is an expert in economic analysis and financial valuation, which he frequently applies to estimate damages in international arbitration proceedings. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Levine 056a
Principal
+1.617.234.5729
Mr. Levine specializes in energy and regulatory economics and is an expert in the economics of the natural gas, oil, and liquefied natural gas markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Levy 080
Principal
+1.415.217.1000
Dr. Levy specializes in microeconomics, econometrics, and statistics. He has supported expert work calculating damages in numerous litigation cases with an emphasis on statistical and econometric issues. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Maniatis 073
President & Principal
+1.202.419.3326
Mr. Maniatis is the President and Chief Executive Officer of The Brattle Group and leads the firm's International Arbitration practice. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Marin 083
Principal
+44.20.7406.7900
Dr. Marin is an economic expert on regulation and competition in various sectors, particularly energy, telecommunications, and transportation, as well as on econometrics, microeconomic and valuation techniques. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Danmcfadden557
Principal
+1.415.217.1000
Professor McFadden is a winner of the 2000 Nobel Prize in Economics, the E. Morris Cox Professor Emeritus of Economics at the University of California at Berkeley, and the founding director of its Econometrics Laboratory. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Murphy 038
Principal
+1.617.864.7900
Dr. Murphy is an engineer and economist with expertise in energy, competitive, and regulatory economics and finance, as well as quantitative modeling and risk analysis. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Myers 036
Principal
+1.617.864.7900
Professor Myers is one of the world’s leading authorities on the theory and practice of finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Neels 241
Principal
+1.202.955.5050
Dr. Neels has more than 30 years of research and consulting experience in all aspects of the transportation sector. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Sacks 124
Principal
+1.202.955.5050
Mr. Sacks has more than fifteen years of consulting experience in valuation, international arbitration, securities, commercial damages, tax, and product liability matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Sarro 061
Principal
+1.617.864.7900
Dr. Sarro is a financial economist specializing in complex business matters and litigation involving capital markets, securities and structured finance contracts and transactions, valuation, and economic damages. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Davesunding img 4729
Principal
+1.415.217.1000
Professor Sunding advises on matters relating to environmental and natural resource economics, utility regulation and ratemaking, damages, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Taylor 066
Principal
+1.617.864.7900
Mr. Taylor's areas of expertise include contract and market risks and incentives, antitrust and regulatory economics, and transition markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Villadsen 048
Principal
+1.617.864.7900
Dr. Villadsen specializes in finance and accounting matters with an emphasis on the energy industry. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Voetmann 055
Principal
+1.415.217.1000
Dr. Voetmann focuses on cases that involve complex economic and financial issues. He has worked with clients and experts on securities cases and valuation disputes related to capital markets and financial institutions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Wharton 123
Principal
+1.415.217.1000
Dr. Wharton specializes in the development of new business models and innovative pricing policies for regulated industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Principal Emeritus
Tye web
Principal Emeritus
Dr. Tye is an expert in economic analysis and public policy and specializes in regulatory and antitrust issues. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Wise website
Principal Emeritus
+1.415.217.1001
Dr. Wise specializes in the application of economics and statistical techniques to analyze damages in connection with business and environmental litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisors
Academic Advisor
Dr. Bowblis is an Associate Professor in the Department of Economics at Miami University, where he teaches courses in health economics, antitrust, industrial organization, econometrics, and the economics of regulation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Brealey is an Emeritus Professor at the London Business School and a Fellow of the British Academy. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Professor Davis, of the Colorado School of Mines, consults in mine and project valuation for several large mining companies and has significant experience as an expert witness in litigation involving mine valuations and damages from temporary takings. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Gans photo search
Academic Advisor
Joshua Gans is a Professor of Strategic Management and the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship at the Rotman School of Management at the University of Toronto. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Goldstein is Chair of the Finance Division and a Professor of Finance at Babson College, where he holds the Donald P. Babson Chair in Applied Investments. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Robert E. Hall is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford’s Hoover Institution. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Kamerschen is currently a Distinguished Professor of Economics and the Jasper N. Dorsey Chair of the Department of Economics at the University of Georgia More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Michael Moore is a Senior Lecturer of Strategy at the Kellogg School of Management at Northwestern University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Philipson is a Professor of Public Policy Studies at the Irving B. Harris Graduate School of Public Policy Studies at The University of Chicago, where he teaches courses in microeconomics and health economics. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Robinson is a Senior Fellow of the Oxford Institute for Energy Studies. He consults on competition, regulation, and corporate strategy in energy and other regulated sectors. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Professor Sappington is the Lanzillotti-McKethan Eminent Scholar Chair in the Department of Economics at the University of Florida, where he serves as the Director of the University’s Public Policy Research Center. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Seaman is an Associate Professor of Economics, former Department Chair, and Research Associate at the Andrew Young School of Policy Studies at Georgia State University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Associates
0265 1
Senior Associate
Dr. Dorobantu specializes in business and project valuation and structured finance issues, applied in the context of international arbitration and litigation involving financial institutions and tax matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
0225 1
Senior Associate
+1.212.789.3680
Mr. Fanaras is an experienced consulting expert who analyzes the competitive effects of mergers, antitrust conduct, intellectual property, and economic damages. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Mcknight david 0034
Senior Associate
+1.212.789.3650
Mr. McKnight has over 14 years of experience in economic consulting in litigation and advisory engagements pertaining to securities and finance litigation, product liability, bankruptcy, and commercial disputes. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Seth 083
Senior Associate
+1.202.955.5050
Dr. Seth specializes in intellectual property litigation, including investigations at the ITC. She has prepared testimony on a range of economic issues in more than a dozen ITC investigations, and has assisted leading technology companies. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Presentation
Lessons for Attorneys from Damages War-Stories
February 28, 2012
CLE presentation to New York County Lawyers Association and various law firms, New York, NY
Article
How to Value a Lost Opportunity: Defining and Measuring Damages from Market Foreclosure
December 2007
In The Economics of Antitrust Injury and Firm-Specific Damages, edited by Kevin S. Marshall, and published by Lawyers & Judges Publishing Co. Inc.
Report
The Misuse of Econometrics in Estimating Damages
December 2003
Daniel L. McFadden, Kenneth T. Wise, Susan J. Guthrie, and Paul C. Liu
Published by The Brattle Group, Inc.
Presentation
Economic Expert Testimony in the Post Daubert/Kumho Era
June 16, 2000
William B. Tye and John R. Meyer
Presented at the SEAK, Inc. Ninth Annual National Expert Witness and Litigation Seminar, Hyannis, MA.
Article
Guide to Economics Damages
1997
In Expert Evidence: A Practitioner's Guide to Law, Science, and the FJC Manual, edited by Bert Black and Patrick W. Lee, and published by West Group
Article
Antitrust Damages from Lost Opportunities
January 1996
William B. Tye and Stephen H. Kalos
Published in The Antitrust Bulletin