All Professionals

Frederick R. Warren-Boulton

Managing Director

Dr. Frederick R. (Rick) Warren-Boulton is an internationally recognized economics expert in the fields of antitrust and industrial organization, particularly in the economics of vertical restraints, mergers, price fixing, exclusion, and monopolization, and has testified and published extensively on those issues.

Dr. Warren-Boulton served for six years as chief economist of the Antitrust Division of the US Department of Justice (DOJ), first as director of its Economic Policy Office and then as the first deputy assistant attorney general for Economic Analysis, before cofounding MiCRA, an economic consulting firm specializing in applied microeconomic theory, industrial organization and econometrics, in 1991. He is a former associate professor of economics at Washington University (St. Louis), a visiting lecturer at Princeton University, a resident scholar at the American Enterprise Institute, and a research professor of psychology at American University.

Dr. Warren-Boulton has served as the testifying expert for private parties and for various government agencies on landmark monopolization cases.

Dr. Warren-Boulton has published and consulted extensively on price fixing and other restrictive or collusive agreements. At the DOJ, he was a primary author of the US Sentencing Guidelines for criminal antitrust offenses such as price fixing and market allocation. He has lectured and written on related issues such as optimal fines, penalties, and leniency. Since leaving the DOJ, he has provided economic analysis and econometric estimates of harm for private parties negotiating fines and penalties with the DOJ and with antitrust agencies in Canada, the European Union, Germany, Australia, and New Zealand. He also has been the expert for liability and damages in a number of class action and opt-out cases in the US involving price fixing or market allocation, including for the defendants in recent cases involving air cargo, car carriers, parcel shipping, auto parts, and capacitors.

Employment History

Senior managing director


US Department of Justice Antitrust Division
Deputy assistant attorney general

Areas of Expertise


Princeton University
PhD, Economics
MA, Economics
MPA, Public Affairs

Yale University
BA, Economics, cum laude


Listed in the Economist section of An International Who’s Who of Competition Lawyers