- Damages estimation
- Financial econometrics
- Market manipulation
- Predictive modeling
- Sampling analysis
- Statistical analysis
- Investment products
Dr. Bennett is an economist with more than a decade of experience providing economic, financial, and statistical analysis as a consultant and academic. In his role as an academic, Dr. Bennett specialized in the development and application of statistical and econometric methods to problems in economics and finance. Since joining Bates White, Dr. Bennett has focused on applying his expertise in economic, financial, and statistical modeling to assess economic damages and the reliability of analyses and opinions put forth by other experts. In this capacity, he has provided expert testimony, served as a consulting expert, supported regulatory agencies with various investigations, and supported other testifying experts on behalf of numerous clients.
Dr. Bennett’s academic research has addressed a range of issues in economics and finance, and he has published in a number of leading academic journals, including the Journal of Financial Econometrics, the International Economic Review, the Journal of Business and Economic Statistics, and the Journal of the American Statistical Association.
Prior to joining Bates White, Dr. Bennett was a faculty member in the Department of Economics at Vanderbilt University, where he taught courses in statistics and econometric analysis to students in the undergraduate, Master’s, and PhD programs. Prior to pursuing graduate studies, Dr. Bennett was a licensed Investment Representative at TD Waterhouse, where he executed securities trades for retail clients.
Testified before the Copyright Royalty Board on behalf of the National Association of Broadcasters In re Distribution of 2010–2013 Cable Royalty Funds, which concerned the allocation of nearly $800M in cable royalties. Testimony included evidence on station and program carriage patterns, an algorithm for categorizing the universe of distantly retransmitted television programs according to agreed-upon claimant definitions, preparation of a linked royalties-airings database for use in an econometric study, and evidence and arguments rebutting opinions offered by other experts.
- Provided support for the US Department of Justice with several of its investigations into mortgage practices by various originators. Support included the design and analysis of simple and stratified random samples, and analysis of mortgage loan performance
- Served as lead consulting expert to address statistical sampling and missing data questions in multiple RMBS matters.
Supported testifying expert on behalf of Wyndham Vacation Resorts, Inc. et al. in disputes over purported rule changes that allegedly had a deleterious impact on the profitability of time share rental businesses. Provided support to evaluate damages and the reasonableness and reliability of opinions offered by Plaintiffs’ expert.
In the matter In re RFC and ResCap Liquidating Trust Litigation, led team supporting testifying expert with sampling and damages analyses arising out of more than 80 actions that were filed by ResCap after it exited bankruptcy protection to recoup billions of dollars in faulty loans and millions of dollars in legal fees for alleged contract breaches.
- Supported testifying expert on behalf of multiple financial institutions in disputes over the quality of mortgages pooled into various mortgage-backed securities. Provided statistical analysis to estimate the fraction of mortgage loans in the securitized pools that failed to meet the originator’s stated guidelines. Analyzed the underlying risk of the pools and securities, examining loss causation issues, and estimating current damages and future losses.
- In the matter In re Puerto Rican Cabotage Antitrust Litigation, performed economic analyses to assess liability and damages, critiqued opposing expert analyses, and supported settlement discussions. Case settled prior to the submission of expert reports.
- Supported testifying expert with the submission of expert reports and the delivery of oral testimony at preliminary and final International Trade Commission hearings in Certain Oil Country Tubular Goods (OCTG) (701-TA-499) demonstrating the deleterious effects of unfairly traded imports of OCTG, including lower levels of investment, profitability, and employment in the domestic oil industry.
- In In re TFT-LCD Antitrust Litigation, supported testifying expert to a large coalition of direct-action plaintiffs involved in price-fixing litigations in the United States, Asia, and Europe. Performed economic analyses to assess liability and damages resulting from the illegal conduct.
PhD, Economics, University of Western Ontario
Thesis: “Essays on Estimation Risk and Stochastic Dominance in Economics”
MA, Economics, University of Waterloo
MRP: “Option Pricing with Two-State Stochastic Volatility”
BCom, Finance, Ryerson University
- Journal of the AmericanStatistical Association, October 2016
- The Journal of Economic Inequality, February 28, 2015
- Estimation of optimal portfolio weights under parameter uncertainty and user-specified constraints: A perturbation methodJournal of Statistical Theory and Practice, July 2014
- International Economic Review, November 2013
- Journal of Business and Economic Statistics, 2013
- Journal of Financial Econometrics, September 2012
- Econometric Reviews, 2011