Photo of Eric R. Emch, PhD

Selected Expertise

  • Aftermarket abuse
  • Anticompetitive conduct analysis
  • Econometrics
  • Exclusionary conduct
  • Industrial organization
  • Joint ventures
  • Market definition
  • Mergers and acquisitions
  • Monopolization
  • Single-firm conduct

Selected Industries

  • Airlines
  • Computer hardware and software
  • Electricity
  • Energy
  • Internet-related services
  • Manufacturing
  • Online content providers
  • Payment cards
  • Power generation
  • Transportation

Eric R. Emch, PhD


Eric R. Emch has more than a decade of experience in economic analysis of competition policy issues, including the competitive effects of horizontal and vertical mergers, single-firm conduct and monopolization, market definition, and collusion. His recent work has focused on merger and monopolization issues in a variety of industries, including the pharmacy benefit management (PBM) and publishing industries.

Prior to joining Bates White, Dr. Emch served as Staff Economist and Assistant Section Chief in the US Department of Justice’s (DOJ) Antitrust Division. As Assistant Section Chief, Dr. Emch led teams of economists in theoretical and empirical analyses of merger, monopolization, and collusion cases primarily in the transportation, energy, and payment cards sectors. As a staff economist, he conducted theoretical and empirical analysis in support of merger and non-merger investigations in a wide variety of industries, including preparations to be a testifying expert in two merger cases.

While on leave from DOJ from 2007–2008, he led the OECD’s Regional Competition Center in Seoul, Korea, where he designed, organized, and conducted competition policy workshops for staffers of national competition authorities across Asia. Dr. Emch has published in journals such as the Journal of Industrial Economics, Review of Industrial Organization, Review of Network Economics, and Antitrust Law Journal on a number of antitrust topics, including aftermarket effects, market definition in payment cards markets, and non-horizontal merger theories in the GE/Honeywell merger. He has also taught econometrics in Johns Hopkins University’s Masters of Applied Economics Program.

Selected Experience

  • Led the team supporting the expert on behalf of DOJ in its successful challenge of the proposed $34.6 billion merger of Halliburton and Baker Hughes.
  • Led the team providing analysis and expert support for DOJ in analyzing the proposed merger of silicon metal producers FerroAtlantico and Globe Specialty Metals. Silicon metal is a key input for production of aluminum, semiconductors, and solar panels. Analyzed the competitive effects of the proposed transaction, and supported preparation of expert testimony in the event of a merger challenge. After an extended investigation, the Department did not challenge the merger, which was subsequently consummated.
  • Led a team assessing the potential competitive effects of AT&T’s proposed $48 billion acquisition of DirecTV during an extended review of the transaction by the DOJ and FCC. Analyzed competition and complementarities among broadband Internet and video programming services on behalf of AT&T. The merger was ultimately approved by both agencies.
  • On behalf of Constellation Brands, analyzed the competitive effects of Anheuser-Busch InBev and Grupo Modelo’s proposed divestiture of brewery and distribution assets to Constellation in response to DOJ’s concerns about their proposed merger. Coauthored a white paper positing that the proposed divestiture resolved the concerns initially raised and would likely improve competition relative to the status quo. DOJ ultimately approved the merger, subject to the proposed divestiture package.
  • Retained by DOJ's Antitrust Division to produce an expert report and serve as an expert witness for a proposed merger in the publishing industry. Analyzed competition between the merging firms, product and geographic market definition, potential unilateral and coordinated effects avenues of merger harm, and potential effects on final consumers.
  • Retained by DOJ’s Antitrust Division to produce an expert report and serve as an expert witness for a proposed merger in the energy services industry. Merger was eventually approved after parties proposed a divestiture package resolving potential competitive concerns.
  • On behalf of Express Scripts and Medco Health Solutions, provided economic analysis on a wide range of competitive issues that the Federal Trade Commission (FTC) explored during its eight month investigation of their merger. Demonstrated that the proposed transaction would not meaningfully put the combined company in a position to exercise market power in any relevant market or market segment. This analysis, which Bates White presented to the FTC, supported the agency’s conclusion that there is a dynamic, competitive market for PBM services and that the proposed acquisition would not change this. The FTC closed its investigation after finding no likelihood of future unilateral effects, coordinated effects, or exercise of monopsony power resulting from the merger.
  • On behalf of an international competition authority, drafted new merger control regulations and merger enforcement guidelines, and training competition authority staff in enforcing the new regime.
  • Retained by the OECD to develop and lead a series of workshops in Hungary, Thailand, Vietnam, and South Korea on pricing-related abuse of dominance, monopolization, and cartels. Workshop participants included staff from Eastern European and South and Southeast Asian competition authorities, among others.
  • Oversaw the analysis of effects on electricity prices from merger of two large suppliers in the same Regional Transmission Organization (RTO). Work included detailed merger simulation and analysis of the effects of long-term contracting on supply and an analysis of how potential divestitures would affect post-merger pricing.
  • Examined potential exclusionary conduct in payment cards markets, including theoretical modeling of potential anticompetitive effects.


PhD, Economics, University of California, Berkeley

AB, Economics and History, Brown University