Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Carl Shapiro, the Transamerica Professor of Business Strategy in the Haas School of Business at the University of California at Berkeley, has entered into an agreement to become a Senior Consultant to CRA’s Antitrust & Competition Economics Practice. From 2011-2012, Dr. Shapiro served as a Member of the President’s Council of Economic Advisers, whose mission is to give the President objective economic advice on the formulation of domestic and international economic policy. For the two years prior to that, he was the Deputy Assistant Attorney General for Economics at the Antitrust Division of the US Department of Justice, where he was instrumental in revising the Horizontal Merger Guidelines and supervised more than 50 PhD economists in the Antitrust Division’s Economic Analysis Group. He had previously served in this role from 1995-1996. From 1998 until he joined the Antitrust Division in 2009, Professor Shapiro was a Senior Consultant to CRA. “Carl Shapiro is an exceptional intellect, who is very highly respected in academic, policy, and consulting circles. We are excited with his decision to once again become a Senior Consultant to Charles River Associates,” said CRA's President and Chief Executive Officer Paul Maleh. “Professor Shapiro is recognized for his outstanding knowledge of antitrust and intellectual property matters. In his academic research, he has developed leading economic theories—embraced by business leaders, academics, and policy makers alike—in the areas of industrial organization, competition policy, patents, the economics of innovation, and competitive strategy. Professor Shapiro’s knowledge of these areas is wide-ranging and we are honored that he has chosen to affiliate with CRA to offer his expertise to clients.” Dr. Steven C. Salop, a Senior Consultant to CRA and Professor of Economics and Law at Georgetown University Law Center, said, “I am thrilled that Carl Shapiro is returning to consulting with CRA. Carl has always been a highly creative and articulate economist. His work on mergers, IP, and network markets has been pathbreaking. His recent service at the US Department of Justice and the President’s Council of Economic Advisers gives him both new insights and additional perspective that will serve him and his clients well as he returns to antitrust consulting.” Professor Shapiro is the recipient of numerous honors and distinctions. A professor at the Haas School of Business since 1990, he is credited with helping to establish the University of California at Berkeley as a leading force in patent reform. He has held various positions at UC Berkeley, including Director of the Institute of Business and Economic Research and Chair of the Economic Analysis and Policy Group in the Haas School of Business. Professor Shapiro has been a Fellow at the Center for Advanced Study in the Behavioral Sciences, is a past Vice-Chair of the Economics Committee, Antitrust Section, American Bar Association, and is a past President of the Industrial Organization Society, among other honors. He also was the founding Co-Editor and then Editor of the Journal of Economic Perspectives, a leading journal published by the American Economic Association. Professor Shapiro has published extensively, including more than 80 articles in academic journals. In 1999, Professor Shapiro and Hal Varian co-authored Information Rules: A Strategic Guide to the Network Economy, a widely acclaimed book that applies economic principles to the information economy. His current research interests include competition policy, the economics of innovation, the design and use of patents, housing finance, and energy and environmental economics. Professor Shapiro also serves as a testifying expert and has extensive experience working with private parties and government agencies on matters involving antitrust and intellectual property. About Charles River Associates (CRA) Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.
Shares of CRA International (Nasdaq:CRAI) have taken a tremendous swing upward. The stock is trading at $24.92 as of 11:21 a.m. ET, 23.4% above Wednesday's closing price of $20.19. Volume is at 20,984, 0.5 times the daily average of 40,100.