About the Expert
Michael J. Buchanan
Michael J. Buchanan is an applied economist with a wide variety of statistical and economic experience in litigation matters as well as forecasting issues and general damages calculations. He has led and testified in cases regarding labor and employment matters, false claims and product liability issues, healthcare payments, billing, and coding issues, antitrust, class actions, sampling and extrapolation, and lost profit and damage estimates. He regularly works in the consolidation and statistical analysis of large, complex data sets.
As an economic and statistics expert, Mr. Buchanan assists clients and counsel in analyzing and summarizing complex data. He has constructed sampling techniques used to develop statistically reliable results for inclusion in expert testimony. In addition to quantifying wage and hour issues and lost profits, he has assisted clients in areas such as addressing allegations of fraudulent or improper billing practices and quantifying financial accuracy measures. He has served as an expert witness in class action and other litigation matters.
Career
Before founding Econagency, Mr. Buchanan was a Senior Managing Director in FTI Consulting’s Economic Consulting Services practice and product leader of its Labor and Employment practice. Prior to joining FTI Consulting, he was a Director with KPMG LLP’s Forensic Services practice.
Mr. Buchanan also spent five years with Mary Kay Inc. as an applied econometrician, where his responsibilities included managing the functions of forecasting, statistical modeling of compensation analysis, promotional events, pricing analysis, new product launches, business analysis, and data control.
Selected Case Experience
- Labor and employment: class certification, misclassification, wage and hour, discrimination, and independent contractor issues.
- Healthcare: medical coding issues, sample size, damage estimation, and billing issues.
- False advertising and product liability: “all natural” claims and allegations that a product does not work as advertised.
- Antitrust: matters involving the healthcare, vitamin, steel, and gasoline industries and convenience stores, including analysis of monopolization claims.
- Forecasting: product and company sales forecasts, lost profits, and business interruption.
- Intellectual property: theft of trade secrets, patent, copyright, and trademark infringement damages.
Publications & Presentations
- “Econometric Analysis of Copyrights,” Journal of Econometrics, Volume 139 (August 2007), with D. Millimet and D. Slottje.
- “The Law of Demand and Lost Profits Analysis,” in Economic Damages in IP Matters, edited by Daniel Slottje (New York: John Wiley & Sons, 2006), 113–132, with R.L. Basmann, D. Slottje, and E. Maasoumi.
- Co-author, Pay and Performance in the NBA (1995).
- “Building a Forecast Model for International Subsidiaries,” 1997 annual conference of the International Association of Business Forecasters.
- Guest lecturer, Department of Economics, Southern Methodist University.