NERA Economic Consulting Europe


It's the economy, stupid

NERA Economic Consulting makes its buck off understanding what many people can't: the economy. The New York-based firm provides economic advice, analysis, expert testimony and regulatory insight for clients throughout North America, Europe and the Asia Pacific region. Employing more than 500 professionals, including 425 economists, the firm has been creating strategies, studies, reports, expert testimony and policy recommendations for government authorities and the world's leading law firms and corporations for half a century. It specializes in bringing academic analysis, objectivity and real-world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance and litigation using hard economic data to make its case, drawing on its professionals' expertise in statistics, econometrics, game theory, mathematics and computer science.


A big umbrella

NERA was founded in 1961 as National Economic Research Associates by Dr. Jules Joskow-a professor of economics-and Dr. Irwin Stelzer, an economist. In 1983, global professional services firm Marsh & McLennan bought out the firm, with Joskow staying on with the company under Marsh & McLennan's direction, and Stelzer acting as president for a couple of years before he opted to strike out on his own. Today, NERA exists as a business unit of Marsh & McLennan's subsidiary the Oliver Wyman Group, operating alongside other Marsh & McLennan professional services units, such as risk and reinsurance specialist Guy Carpenter, insurance broker and risk adviser Marsh and human resources solutions provider Mercer.


NERA know-how

Among NERA's many service offerings, it is often called on for its antitrust capabilities. Respected and experienced in the world of antitrust and competition authorities, clients call on NERA professionals to provide economic analysis and testimony on business issues related to mergers and acquisitions, antitrust litigation and competition policy. Consultants are able to look at economic matters arising in antitrust cases and to help clients deal with issues such as market definition and power, market structure and entry conditions, pricing, profitability and damages. 

With total write-downs and losses stemming from the credit crisis reaching into the trillions worldwide, financial institutions facing an emerging regulatory and competitive environment come to NERA for assistance in securities and commercial disputes, market efficiency and trading analysis, valuations of fixed-income and derivative products, and risk management. NERA also provides expert advice on commercial litigation and damages. Consultants in this area provide analyses of clients' competition, regulatory environment and management decisions; cost, pricing and product strategies; risk management, business valuation and dispute avoidance-and if that doesn't work-dispute resolution, among other services.

NERA is also deeply involved in climate change analysis. As policies to reduce greenhouse gas emissions are proposed and implemented, NERA economists help government entities and companies understand the complex effects of those regulations, promote renewable energy and improve energy efficiency.


Publish and be … recognized

Not surprisingly, for a company boasting a plethora of academics, NERA's consultants like to publish their findings in formats that range from journal and magazine articles to white papers and books. Interviews with NERA consultants also pop up regularly in publications the world over.



September 2013

Energy Expert Dr. Mauricio Bermudez-Neubauer Joins NERA Economic Consulting

Dr. Mauricio Bermudez-Neubauer joined NERA's Energy, Environment, and Network Industries Practice as an Associate Director. He consults with clients in the energy and energy-intensive industries with a strong focus on emissions management and clean energy.


June 2013 

Accounting and Finance Expert John Garvey Joins NERA Economic Consulting

Mr. Garvey joined NERA's Securities and Finance Practice as a Senior Vice President. Mr. Garvey has testified on or directed complex litigation matters regarding fraud and forensic accounting, accounting restatements and financial statement reconstruction, securities fraud, accounting irregularities, merger and acquisition disputes, derivative disputes, professional liability, bankruptcy and solvency, business valuation, and general damages issues.


March 2013

Antitrust Expert Dr. Chetan Sanghvi Joins NERA Economic Consulting 

Dr. Sanghvi joins NERA from the Federal Trade Commission, where he was Economics Advisor to the office of Commissioner Brill. He is an expert in the field of industrial organization and antitrust economics, with a specialization in the analysis of liability and damages in competition and commercial litigation


January 2013 

Dr. Lawrence Wu Named President of NERA Economic Consulting 

Dr. Lawrence Wu, one of NERA's leading economic experts, specializing in antitrust and intellectual property issues, was appointed President of NERA on 1 January 2013. Dr. Wu has been at the forefront of applying rigorous economics on behalf of clients in numerous high-profile mergers and in litigation cases involving antitrust or intellectual property. He also has been actively involved in firm leadership, including as a Senior Vice President in the Global Antitrust and Competition Practice and member of the Board of Directors. 


NERA Expands European Footprint with New Office in Berlin

Dr. Frank Maier-Rigaud has joined NERA's Antitrust and Competition Practice as an Associate Director. His extensive practical and academic expertise encompasses all areas of competition economics, notably competitive effects of merger, cartels, abuse of dominance, and vertical and horizontal restraints. He is also Full Professor in the Department of Economics and Quantitative Methods at the IÉSEG School of Management in Paris and the Université Catholique de Lille, and a member of the French Centre National de la Recherche Scientifique. Dr. Maier-Rigaud is based in NERA's new Berlin office, which provides clients with a full suite of economic consulting services in areas including antitrust and competition, securities and finance, intellectual property, transfer pricing, and telecommunications.


NERA Releases 2012 Full-Year Review of Recent Trends in Securities Class Action Litigation 

The number of securities class action cases resolved in 2012 plummeted to record lows, according to the January 2013 edition of NERA's semi-annual study. Co-authored by Senior Consultants Dr. Renzo Comolli and Svetlana Starykh, Vice President Dr. Ronald Miller, and Consultant Sukaina Klein, the authors find that 152 cases were dismissed or settled in 2012, compared to the 244 securities class actions resolved in 2011. Filings of securities class actions only slightly declined in 2012, with a total of 207 class actions filed in federal courts, compared to the average rate of 221 over the previous five years. Sizeable reductions of credit-crisis litigation and cases with a Chinese company defendant were largely offset by filings of merger objection cases, which accounted for 25% of new filings in 2012.


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NERA Economic Consulting Europe

1166 Avenue of the Americas
24th Floor
New York, NY 10036
Phone: 1 (212) 345 3000
Fax: 1 (212) 345-4650


  • Employer Type: Subsidiary
  • Stock Symbol: MMC
  • Stock Exchange: NYSE
  • President: Dr. Lawrence Wu
  • 2013 Employees: 515

  • Employment Contact

    Visit the careers section of

  • Major Departments & Practices

    Antitrust & Competition



    Class Actions & Class Certification

    Commercial Litigation & Damages


    Consumer Protection in Financial Services

    Employment & Labor


    Environment & Climate Change

    Financial Institutions & Banking

    Financial Risk Management

    Health Care & Life Sciences


    Intellectual Property

    Mass Torts & Product Liability

    Postal Services

    Regulatory Economics

    Risk Advisory Services

    Securities & Finance

    Statistical Sampling & Analysis

    Survey Research, Design, & Analysis

    Transfer Pricing




Major Office Locations

  • New York, NY (HQ)
  • 26 offices in 13 countries

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