Foreword

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FOREWORD

The Section of Antitrust Law is pleased to publish Econometrics:

Legal, Practical, and Technical Issues (Second Edition). Econometrics

plays a central role in modern antitrust litigation and merger analysis,

and economic experts are regularly the star witnesses in court and before

the enforcement agencies. With the advent of increasingly sophisticated

econometric techniques, it is more important than ever for practicing

antitrust lawyers to have a complete and current understanding of these

techniques and how to use them. This volume explains in plain language

the technical elements of econometric analyses and the situations in

which they can be properly deployed. Because nine years have passed

since the first edition, this book is much more than just an update. It has

been substantially rewritten, reorganized and expanded to reflect the

increasingly important and complex roles that econometrics and

economics play in antitrust analysis and litigation.

The Antitrust Section is grateful to the many economists and lawyers

who worked on this book. The Section is especially grateful for the

exceptional and tireless work of the book’s editor, Lawrence Wu, who

organized and supervised a talented cadre of economists (with the help of

some lawyers) to produce a book that is both technically sound and

accessible to non-economists. He was assisted by Charles Biggio, who is

the co-editor of this volume. The Section also thanks the individuals who

devoted so much time to researching, drafting and revising the

substantial new content in this book. They, as well as many others who

made significant contributions, are credited by name in the Preface.

February 2014

Christopher B. Hockett

Chair, Section of Antitrust Law

American Bar Association

2013-2014