Testimony by EI Principal Jonathan Neuberger on organization of markets cited by judge in breach of contract suit.

Principal Jonathan Neuberger testified on behalf of the defendant in Dairyland Power Cooperative v. The United States in the Court of Federal Claims. Dr. Neuberger analyzed the effect the organization of a hypothetical market would have on prices and consequently on plaintiff’s damages claim. In particular, Dr. Neuberger concluded that plaintiff’s predictions were speculative and unreliable because gains from trade in this hypothetical market were attributed solely to buyers, rather than being shared between buyers and sellers. The judge reduced by half the portion of the damages claim associated with this market and cited Dr. Neuberger’s testimony in support of his ruling.