Ana McDowall



  • Chicago


Ana McDowall provides economic analysis and expert support in antitrust matters and regulatory proceedings. Dr. McDowall’s antitrust experience includes merger reviews and cases involving allegations of exclusionary conduct and price fixing. She provides consulting support to clients and testifying experts and manages project teams across all phases of litigation. Dr. McDowall has expertise with issues in the U.S. and European contexts, and her industry expertise includes digital and financial markets, retail, and telecommunications.

Antitrust and competition

Dr. McDowall evaluates liability, damages, and relevant market claims. Her experience ranges across matters involving alleged vertical exclusionary practices, horizontal price fixing, and attempted monopolization.

Merger review

Dr. McDowall consults with parties on all stages of merger review, including risk assessment, pre-litigation advocacy, with agency requests, and expert support in litigation.

Dr. McDowall submitted comments to the Draft Merger Guidelines released by the Federal Trade Commission (FTC) and Department of Justice (DOJ) in July 2023, and also offered comments to the FTC and DOJ’s Draft Vertical Merger Guidelines issued in January 2020. She has published articles on merger review in the Antitrust Source and Law360.

Regulatory matters

Dr. McDowall has consulted for government agencies and firms in the telecommunications and water industries on regulation issues. Her support has focused on evaluating the efficiency of existing regulatory schemes, or designing new frameworks. Representative work in these contexts includes analyses related to infrastructure investment subsidies and assessments of price or service quality regulation.


Entrenching and Leveraging Market Dominance in the 2023 Merger Guidelines: Insights from Amgen/Horizon

Press Release

Cornerstone Research Promotes Five to Principal


A Summary of Comments on the 2023 Draft Merger Guidelines

Press Release

Cornerstone Research Staff and Affiliated Experts Submit Comments on the Joint FTC-DOJ Draft Merger Guidelines

Press Release

Cornerstone Research Named in GCR 2023 Matter of the Year


A Look at the Public’s Divergent Views on New Merger Guidelines

Press Release

Cornerstone Research Staff and Affiliated Experts Submit Comments to the Joint FTC-DOJ Inquiry on Merger Enforcement

Press Release

Cornerstone Research Staff Review New U.S. Vertical Merger Guidelines