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AT&T-Time Warner Expert Says DOJ Has ‘No Statistical Basis’

Law360, Washington (April 12, 2018, 10:13 PM EDT) -- AT&T and Time Warner sought Thursday to eviscerate every part of the economics of the U.S. Department of Justice challenge against their merger in D.C. federal court, presenting their own expert witness to systemically criticize virtually every conclusion, and every unconsidered variable, to come from his counterpart.

University of Chicago economics professor Dennis W. Carlton said on the stand that the government’s chief expert, University of California, Berkeley professor Carl Shapiro, used a “theoretically unsound” bargaining model to wrongly find, without accounting for key economic and...
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