5 Questions with Mark Chicu: Bringing Agency Experience to Economic Consulting

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5 Questions is a periodic feature produced by Cornerstone Research, which asks our affiliated experts and senior professionals to answer five questions related to their work.

We interview Dr. Mark Chicu, Senior Advisor at Cornerstone Research, to gain his perspectives on serving as an economist in the Antitrust Division of the U.S. Department of Justice (DOJ), preparing as an expert in high-stakes antitrust matters, and the deep value—and transferable understanding—that develops when working on matters across different industries.

You have been deposed and have testified in federal court as the United States’ economic expert, notably in the Booz Allen/EverWatch matter. Please walk us through your experience in preparing for and delivering expert testimony. What insights do you bring to the table given your recent experience in the government?

In the lead-up to expert testimony, practice is essential. It’s especially important to understand the boundaries of the report or declaration—what I, as the expert, am and am not offering an opinion on. Role-playing is incredibly valuable in getting ready to handle deposition and trial; being well-prepared has helped me to stay calm and remain on message in the face of tough questioning.

Working closely with attorneys has given me valuable insights into what makes testimony effective, including strategies for navigating challenging questions and crafting compelling narratives that are grounded in sound economic analysis.

Through my experience with antitrust trials—including, but certainly not limited to, the Booz Allen matter—I deeply appreciate the importance of clear communication and understanding what evidence is likely to resonate with a judge or jury. This awareness enables me to more effectively convey the economics of a case and build trust with decisionmakers, both of which facilitate better understanding of key points.

In my time at the DOJ, I also gained substantial experience supporting other experts, from retention through trial, and I regularly assisted DOJ attorneys in deposing and cross-examining opposing experts. Working closely with attorneys has given me valuable insights into what makes testimony effective, including strategies for navigating challenging questions and crafting compelling narratives that are grounded in sound economic analysis.

You have extensive merger litigation experience, including in high-profile mergers such as Visa/Plaid and JetBlue/Spirit. What skills and expertise are particularly important in terms of supporting clients on complex merger reviews and investigations?

In the early stages of a matter, it’s crucial to develop a thorough understanding of the transaction’s details and to identify the key issues likely to arise. From there, economic analyses should be grounded in the data, documentary evidence, and testimony. A fully informed approach supports targeted and convincing advocacy, ultimately streamlining the process and reducing the burden on both clients and agencies. Effective communication with agencies can also help expedite the process and yield more efficient outcomes.

As someone with expertise across a large range of industries, including agriculture, airlines, and professional sports, can you talk about your work with clients in different sectors and how you tailor your analysis to address industry-specific challenges?

Working across a range of industries—repeatedly, in some instances—I have found that the old adage holds true: the details matter.

Having a deep understanding of a given industry can reduce the learning curve: the airline industry, for example, has certain terms of art, acronyms, and other nuances. At the same time, every transaction or examination of alleged conduct presents its own unique challenges, and it’s important to approach each set of facts with an open mind.

Every transaction or examination of alleged conduct presents its own unique challenges, and it’s important to approach each set of facts with an open mind.

My broad experience has allowed me to see an array of issues firsthand, giving me a strong foundation from which to identify key concerns and handle the novel situations that often arise in antitrust cases.

With experience working closely with attorneys at the DOJ and in private practice, can you describe your approach to supporting legal teams and effectively integrating economic analysis into litigation and regulatory strategies?

Working especially closely with attorneys is a highlight of my experience as an economist in the Antitrust Division, and I aim to replicate this successful collaboration at Cornerstone Research.

Economists can play a vital role at all stages of a matter, and, often, the economic analysis is pivotal to the outcome. In my experience, alignment between attorneys and economists on strategy, evidence, and objectives is crucial to success. To this end, I believe that early, regular, and transparent communication drives the best possible results.

What excites you about joining Cornerstone, and what do you hope to achieve in your first few years with the firm?

I’m drawn to Cornerstone because of the exceptional quality of my coworkers and of the working environment. The firm’s outstanding network of academic affiliates, some of whom I’ve had the pleasure of working with in the past, was also a significant factor in my decision to join. I’m excited to collaborate with and support some of the best minds in the field.

Cornerstone’s focus on delivering success for our clients, combined with its commitment to fostering a supportive internal environment and investing in the resources and technology needed to excel, also aligns with my own values and approach.

At Cornerstone Research, I’m excited to collaborate with and support some of the best minds in the field.

I’m eager to contribute my skills and experience, built over years of working at the DOJ and in litigation consulting, to help advance great work on important issues, whether as an expert or in support of Cornerstone’s fantastic staff and affiliates.

Mark Chicu
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Mark Chicu

Senior Advisor