How are the econ consulting firms (e.g., NERA Economic Consulting, Cornerstone Research, Analysis Group, Charles River Associates) viewed relative to Big 4 / T2 firms, both overall and when comparing on the practice level?

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Entirely different animals. When it comes to economic consulting, the firms you listed dominate. Big 4 and T2 are very limited in their Econ consulting presence

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They’re in their own category for economics, but a lot of econ consulting firms will also compete with Big 4/T2 in the forensics/litigation space. NERA and CRA especially. But I feel like their academic, PhD-style culture doesn’t lend itself particularly well to the legal/commercial world and while they do plenty of business in that area they don’t seem quite as good at delivering results as the traditional accounting/consulting firms

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Sorry, I thought I delineated what I’m talking about separately as forensics/litigation, not economics. There’s somewhat of an overlap but I view the two differently.

I am not talking about economic consulting in the way that NERA1 is describing. I’m talking about when those same econ consulting firms take on work that is really more general litigation consulting and not pure-play economic modeling within the context of litigation. Which they do pretty often and then wind up going up against more traditional consulting firms. Both sides will typically still put up an affirmative model. But these are usually less complex statistical model and more straightforward and simple financial modeling using DCFs or market multiples for example

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