NERA Economic Consulting

NERA Economic Consulting
Name	NERA Economic Consulting
Type	Private
Founded	1961
Founder	Arthur F. Burns
Headquarters	New York City
Area served	Global
Industry	Economic consulting
Num employees	~700

NERA Economic Consulting is a global firm providing economic analysis, expert testimony, and advisory services to clients in litigation, regulation, and corporate strategy. Founded in 1961, the firm engages with matters spanning antitrust, securities, finance, energy, and telecommunications, offering quantitative modeling and expert witness work to courts, tribunals, and regulatory bodies. Clients have included multinational corporations, law firms, public utilities, and international organizations across North America, Europe, and Asia.

History

NERA traces origins to an initiative associated with Arthur F. Burns and traces institutional roots to postwar American economic policy debates involving actors like John Kenneth Galbraith, Milton Friedman, and institutions such as the Brookings Institution and National Bureau of Economic Research. Early work intersected with regulatory proceedings involving the Federal Communications Commission, Securities and Exchange Commission, and utility rate cases before state public utility commissions such as the New York Public Service Commission. Expansion in the 1970s and 1980s paralleled deregulation efforts epitomized by the Airline Deregulation Act, the Telecommunications Act of 1996, and energy market reforms linked to the Federal Energy Regulatory Commission. Growth included transatlantic offices in cities like London, Paris, and Frankfurt and later presence in Tokyo, Hong Kong, and Sydney, reflecting globalization trends influenced by institutions such as the World Bank, International Monetary Fund, and Organisation for Economic Co-operation and Development.

Services and Practice Areas

The firm offers services in areas including antitrust and competition litigation that engage statutes like the Sherman Antitrust Act and cases before the European Commission Directorate-General for Competition; securities litigation involving filings under the Securities Exchange Act of 1934 and proceedings in forums such as the United States District Court for the Southern District of New York; and regulatory economics in sectors overseen by agencies like the Federal Energy Regulatory Commission and the Ofgem. Practice areas extend to intellectual property disputes in venues such as the United States Court of Appeals for the Federal Circuit, transfer pricing matters linked to the Organisation for Economic Co-operation and Development guidelines, environmental and climate-related valuation tied to frameworks from the Intergovernmental Panel on Climate Change, and valuation work for mergers subject to review by the Department of Justice and European Commission.

Notable Cases and Engagements

NERA professionals have testified or provided analysis in high-profile matters including antitrust litigation related to mergers examined by the United States Department of Justice Antitrust Division and the European Commission; securities litigation involving issuers listed on the New York Stock Exchange and cases before the Securities and Exchange Commission; energy market disputes implicating the Federal Energy Regulatory Commission and commodity markets overseen by the Commodity Futures Trading Commission; and telecommunications disputes tied to spectrum allocation overseen by the Federal Communications Commission. Engagements have intersected with major corporations and legal firms involved in matters reminiscent of disputes featuring entities like Google, AT&T, ExxonMobil, BP, Microsoft, Apple Inc., Amazon (company), Deutsche Telekom, Siemens, General Electric, and Comcast. Expert contributions have been cited in proceedings before arbitral institutions such as the International Centre for Settlement of Investment Disputes and the London Court of International Arbitration.

Organizational Structure and Leadership

The firm operates with a partnership and director model with offices led by regional managing directors in markets including New York City, London, Brussels, Washington, D.C., San Francisco, and Singapore. Leadership roles have interfaced with public officials and academics from institutions such as Harvard University, University of Chicago, Yale University, Columbia University, London School of Economics, and Stanford University. Former staff and affiliates have included economists who have held positions at central banks like the Federal Reserve Bank of New York, the Bank of England, and international organizations such as the International Monetary Fund and World Bank.

Research, Publications, and Methodology

Research outputs encompass white papers, expert reports, and peer-reviewed articles that apply econometric techniques like difference-in-differences, instrumental variables, and event study methodology cited in journals such as the Journal of Political Economy, American Economic Review, and Econometrica. Methodological frameworks draw on standards used by agencies like the Federal Trade Commission in merger analysis and academic protocols from universities including Massachusetts Institute of Technology and Princeton University. The firm publishes analyses on market structure, damages quantification, forecasting, and regulatory impact assessments used by stakeholders including law firms appearing before the United States Supreme Court and appellate tribunals like the European Court of Justice.

Criticism and Controversies

Critiques have emerged from academics, journalists, and policymakers associated with institutions like Public Citizen, Consumer Federation of America, and some scholars from Harvard Law School and Yale Law School alleging conflicts of interest, advocacy economics, and the use of modeling assumptions favoring retained clients. Debates echo broader disputes over expert witness economics highlighted in cases before the United States Court of Appeals for the Ninth Circuit and commentary in outlets such as The Wall Street Journal and The New York Times. Regulatory scrutiny and academic critique have focused on transparency, reproducibility, and the role of consultancy analyses in proceedings before agencies like the Federal Trade Commission and tribunals such as the European Court of Human Rights.

Awards and Recognition

The firm and its staff have received professional recognition from trade and academic circles, with nominations and awards from organizations including the American Bar Association, the American Economic Association, and industry groups connected to Project Finance International and Utility Dive. Individual consultants have been listed among thought leaders in rankings published by outlets such as Who's Who Legal and have contributed to policy discussions hosted by the Council on Foreign Relations and the Brookings Institution.

Category:Consulting firms Category:Companies based in New York City