Valuation
Overview
Engagements
Experts
Publications

The Brattle Group applies sophisticated financial, statistical, and economic analysis techniques across a variety of industries to value assets, liabilities, and claims.

We perform valuations in the context of litigation support, capital budgeting, business strategy, mergers and acquisitions, regulation, and bankruptcy. We evaluate past and present market dynamics, risk, option and flexibility value, and measure profitability and comparable transactions.

Our team provides independent, objective financial and forensic support and expert witness testimony. We offer unmatched analytical capabilities and advanced techniques in financial modeling, market analysis and forecasting, cost of capital assessments, option pricing, and decision analysis.

Areas of Expertise
Principals
Austin_smith
Principal
Ms. Austin Smith specializes in M&A and bankruptcy disputes with subject matter expertise in valuation and credit and solvency analysis. More-icon
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
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
Metin_087
Principal
+1.617.864.7900
Dr. Celebi provides expertise in electricity markets and the analysis of environmental and climate policy. More-icon
Chang_037
Principal
+1.617.864.7900
Judy Chang is an economist with a public policy background and expertise in the analysis of electricity power markets. She advises clients on financial and regulatory issues relating to renewable energy investment and procurement decisions. More-icon
Chodorow_075
Principal
Darrell Chodorow has more than 15 years of consulting experience in commercial damages, valuation, and tax matters. More-icon
Cohen_065
Principal
+1.617.864.7900
Mr. Cohen specializes in financial modeling and valuation, with a focus on complex business litigation. More-icon
Cragg13
Principal
+1.617.234.5721
Dr. Cragg has extensive consulting, research, and expert witness experience in corporate finance, financial services, and valuation. More-icon
Webrichgoldberg_img_4749
Principal
+1.415.217.1000
Dr. Goldberg specializes in complex litigation in which careful analysis and modeling of economic, business, or financial data is critical. More-icon
Herscovici_087
Principal
Dr. Herscovici specializes in the application of economics, finance, and data analysis to litigation and other complex business issues. More-icon
Kolbe_092
Principal
+1.617.864.7900
Dr. Kolbe's work focuses on applied financial economics and his projects address risk, return, and regulatory policy for rate-regulated industries; tax disputes; and firm, security, or project valuation questions in a wide variety of settings. More-icon
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
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
Lo_passo
Principal
Dr. Lo Passo specializes in the application of regulatory economic principles to energy, transportation, telecommunications, and other industries in Italy and throughout the world. More-icon
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
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
Mudge_129
Principal
+1.202.955.5050
Mr. Mudge, Chief Operating Officer of The Brattle Group, is an expert in corporate and project finance matters in the energy industry. More-icon
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
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
Newell_090
Principal
+1.617.864.7900
Dr. Newell is an expert in electricity wholesale markets, the transmission system, and RTO rules. More-icon
O'loughlin_109-1
Principal
+1.617.864.7900
Mr. O'Loughlin specializes in regulatory economics and valuation as applied to the natural gas, oil pipeline, and electric power industries. More-icon
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
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
Shavel_087
Principal
+1.202.955.5050
Dr. Shavel is an energy economist specializing in the economics and operations of the U.S. electric power system, generation and transmission investment, and environmental strategy. More-icon
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
Tsuchida_084
Principal
+1.617.864.7900
Mr. Tsuchida specializes in the analysis of wholesale electric markets and modeling. More-icon
Vilbert_119
Principal
+1.415.217.1000
Dr. Vilbert specializes in cost of capital, regulatory economics, financial planning, income tax disputes, and valuation. More-icon
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
Jurgen_weiss0492
Principal
+1.617.864.7900
Dr. Weiss specializes in issues broadly motivated by climate change concerns, such as renewable energy, energy efficiency, energy storage, the interaction between electricity, gas and transportation, and carbon pricing. More-icon
Zarakas_092
Principal
+1.617.864.7900
Mr. Zarakas is an expert in economic, financial, strategic, and regulatory analyses in the utility, telecommunications, and media industries. More-icon
Zhou_082
Principal
+1.617.864.7900
Dr. Zhou is a valuation, corporate finance, and accounting expert with 15 years of consulting experience. More-icon
Academic Advisors
Academic Advisor
Dr. Brealey is an Emeritus Professor at the London Business School and a Fellow of the British Academy. More-icon
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
Academic Advisor
+1.917.776.8777
Dr. Economides is an expert on network economics, electronic commerce, antitrust, and public policy. More-icon
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
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
Academic Advisor
Dr. Sundaresan is the Chase Manhattan Bank Professor of Economics and Finance at Columbia University. More-icon
Academic Advisor
Professor Williams, a risk management expert, teaches finance and economics at Boston University. More-icon
Consultants
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
Associate
+1.617.864.7900
Senior Associate
+1.202.419.3356
Mr. Kline’s areas of expertise include electricity markets and regulation, financial accounting, corporate finance, asset valuation, international arbitration, market manipulation, and fraud. More-icon
Kumar_066
Senior Associate
+1.415.217.1000
Dr. Kumar is an economist with expertise in the areas of regulatory finance, financial statement analysis, and business valuation. More-icon
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
Ruiz_065
Senior Associate
+1.617.864.7900
Dr. Ruiz is an electrical engineer with experience in electric power systems analysis and research. More-icon
Article
Rural Metro: Another Shackelton Expedition Falls Short of the Podium
March 2014
Published by The Brattle Group, Inc.
Article
Valuing Properties with Wetland Potential
May 2011
Michael I. Cragg, Christine Polek, and Stephen Polasky
Published in The Appraisal Journal
Article
Risk-Adjusted Damages Calculation in Breach of Contract Disputes: A Case Study
2010
Frank C. Graves, Bin Zhou, Melvin Brosterman, and Quinlan Murphy
Published in Journal of Business Valuation and Economic Loss Analysis
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.