Professor Lorin Hitt is an expert in applied econometrics and the economics of information and information technology. He focuses on the role of information in consumer behavior, firm organization, and market structure.
Professor Hitt researches how information and technology create economic value, how goods and services are priced, how competition works in information intensive industries, and how consumers search and use information in their decision-making, among other topics. His academic research and teaching cover a variety of empirical methods used in economic research, including models for estimating demand and supply, pricing products, measuring the effect of external events on market prices, and valuing individual product features in differentiated products.
Professor Hitt’s research has been published in leading economics and management journals, including the Quarterly Journal of Economics, the Review of Economics and Statistics, the Journal of Economic Perspectives, Brookings Papers on Economic Activity, Management Science, and Information Systems Research.
At the Wharton School and the Massachusetts Institute of Technology, Professor Hitt has taught courses on competition and customer pricing, information systems management, the economics of technology, and data analysis. He has won the annual Wharton Undergraduate Teaching Award more than ten times, and has also been honored with the Wharton-wide Hauck Award and the University of Pennsylvania-wide Lindback Award for distinguished teaching.
Professor Hitt has been retained in numerous product liability, intellectual property, antitrust, and breach of contract cases. He has testified in several high-profile matters, including the Volkswagen “Clean Diesel” Litigation (Nemet et al. v. Volkswagen); Johannessohn et al. v. Polaris Industries Inc.; Buckeye Tree Lodge and Sequoia Village Inn LLC v. Expedia Inc. et al.; In Re TFT-LCD (Flat Panel) Antitrust Litigation; and Stragent LLC et al. v. Intel Corp. In Nemet et al., the judge dismissed the case, finding the plaintiffs’ analyses to be unreliable and inadmissible due to critical flaws that Professor Hitt identified.
In multiple product liability matters, Professor Hitt has analyzed the value of a product or product features. He has substantial experience addressing class certification and damages issues, including analyzing market price data and evaluating proposed damages methods such as hedonic price analyses, difference-in-differences regression analyses, and conjoint analyses.
Professor Hitt has also served as an expert witness in antitrust matters involving allegations of price fixing and collusion. In intellectual property matters, he has opined on patent damages and on methods to assess the value of alleged infringed product features.
Cornerstone Research Named in 2022 Matters of the Year in U.S. and Europe
MacKinnon v. Volkswagen Group Canada Inc. et al.
Expert Forum: Cracking the Commonalities and Differences in Data Breach and Data Privacy Cases
Nemet et al. v. Volkswagen Group of America Inc. et al.
Economic and Legal Issues in Data Privacy and Data Breach Group Litigations: Key Takeaways
Invasion of Privacy Consumer Class Action
Expert Forum: Economic and Legal Issues in Data Privacy and Data Breach Group Litigations
Johannessohn et al. v. Polaris Industries Inc.
- MacKinnon v. Volkswagen Group Canada Inc. et al.
- Nemet et al. v. Volkswagen Group of America Inc. et al.
- Invasion of Privacy Consumer Class Action
- Johannessohn et al. v. Polaris Industries Inc.
- Energy Labeling of a Household Appliance
- Power Ratings of a Household Appliance Manufacturer’s Product
- Stragent LLC et al. v. Intel Corp.
- MacPherson’s v. Windermere Real Estate