Dr. Kelly Lear Nordby specializes in applying economics, econometrics, finance, and statistics to competition policy, commercial damages, and mass tort matters.

With over twenty years of litigation consulting experience, Dr. Lear Nordby has provided clients with analyses that examine issues of price fixing, bundling, class certification, two-sided markets, patent infringement, employment discrimination, property value diminution, environmental contamination, crop damages, tax shelters, breach of fiduciary duty, breach of contract, and statistical sampling. She has directed analyses of large datasets and is experienced with a variety of econometric modeling techniques, including regression analysis, conjoint analysis and natural experiments.

In addition, Dr. Lear Nordby has applied her expertise in finance to develop models for discounted cash-flow valuations, lost profits, and prejudgment interest. These matters have spanned a broad range of industries, including agriculture, airlines, automobiles, chemicals, energy, financial services, pharmaceuticals, biologics, building products, and other consumer products. She conducts research and has published in the field of industrial organization.

Dr. Lear Nordby holds a master’s degree and a PhD in business economics and public policy from Indiana University’s Kelley School of Business, and a BS in finance from Lehigh University. She held positions previously with other consulting firms. She has taught graduate and undergraduate level economics and statistics courses at Northeastern University, the University of San Francisco’s School of Management, Indiana University-Purdue University at Indianapolis, and Kelley School of Business.

Employment History

Berkeley Research Group
Senior managing economist/Independent contractor (IC)
2009 – 2012

AFE Consulting
IC director
2011 – 2012

Gnarus Advisors LLC
2009 – 2012

Senior managing economist (also managing economist and senior economist)
1998 – 2011

Indiana University
Research assistant, Center for Econometric Model Research
1995 – 1997
Interviewer, Center for Survey Research
1994 – 1995

Financial associate, Financial Management Development Program
1990 – 1993

Professional Affiliations

American Economic Association

American Bar Association, Antitrust Section
Associate member


Certified Management Accountant (CMA)
Institute of Management Accounts,

Areas of Expertise


Kelley School of Business, Indiana University
PhD, Business Economics and Public Policy, 1998
MB, Business Economics and Public Policy, 1996

Lehigh University
BS, Finance, 1990 (magna cum laude)