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The use of econometrics and empirical analysis generally in antitrust cases reflects the increasing reliance by the courts and by the antitrust agencies on economic methods and testimony.
The increasing use of econometric analysis in the field of antitrust, however, has created a knowledge gap. Econometrics: Legal, Practical, and Technical Issues (Second Edition) fills that gap by making econometrics approachable and understandable for noneconomists.
This Second Edition of Econometrics also fills another gapa practical gap in understanding that may limit the ways in which econometric analyses are applied in practice. Because antitrust analysis has become more sophisticated, it is likely that sometime in his or her career, an antitrust attorney will have to work with an economist to develop an empirical study that may involve econometric methods, prepare an argument or brief that incorporates facts that are derived from an econometric study, or cross-examine an economic expert on an econometric study that he or she may have done.
This book will help attorneys appreciate the power and value of an econometric analysis and to work with economic experts more effectively by giving antitrust attorneys a better feel and understanding of why econometric techniques are useful and the types of applications in which statistics and econometrics can be and should be applied.
In addition, the book discusses the potential pitfalls in the use of econometric methods, how econometric methods have been used in the courtroom, and the evidentiary and discovery issues that often arise in connection with econometric work that is done in the context of a merger review or litigation.
This edition will be a valuable resource for all antitrust attorneys who regularly work with economic experts and those who are interested in understanding the power of economics and econometric analysis in antitrust.