Alumni Profiles Series: Eric Gaier

Eric Gaier received his B.A. in economics from Florida State University and his Ph.D. in economics from Duke University. He is currently a partner and founding member of Bates White Economic Consulting. He specializes in antitrust and alleged fraud cases in the life sciences and healthcare sectors. Early in his career, Dr. Gaier worked at the Logistics Management Institute, where he worked on projects for NASA. He later transitioned into economic consulting, joining A.T. Kearney before co-founding Bates White. At Bates White, Dr. Gaier leads expert work, serving clients like pharmaceutical companies and health insurers. He also sits on the firm’s board of directors and executive committee, helping guide strategy and operations.

Tell me about yourself.

I’m originally from Cincinnati, Ohio, but I spent most of my high school years in Florida. I went to Florida State University for my undergrad, and afterward, I completed a Ph.D. in economics at Duke. Today, I’m a Partner at Bates White Economic Consulting, where we specialize in litigation-related economic consulting.

How did you find your way from Duke into economic consulting?

After Duke, I didn’t go straight into economic consulting. I spent a few years at the Logistics Management Institute, a federally funded R&D center, where I worked on projects for NASA. My role there was to assess the economic impact of aviation technologies and answer questions like, “How could new technologies reduce delays or increase efficiencies for airlines?”

Eventually, I transitioned into economic consulting through a connection with a Duke colleague who was working at A.T. Kearney. A group of Ph.D.s there was building an economic consulting practice focused on litigation consulting, and I joined them. Not long after, we left to start Bates White, and I’ve been here ever since.

How do you approach problem-solving in economic consulting, and how does it differ from academic research?

I see economic consulting as constrained optimization—you’re given a clear problem to solve. In academic research, it’s more like unconstrained optimization, where you have to figure out the problem yourself. I’m not great at sitting down with a blank page and coming up with interesting questions. It isn’t my strength. What I love about economic consulting is that topics are identified for us. When I know the industry and the specific issue, I can dive into what’s really going on. I love exploring the business reasons behind things and understanding the dynamics.

I think economic consulting appeals to people who are creative but like having a defined problem to solve. People who thrive in academia are often those who excel at unconstrained problem-solving, where they identify gaps in the literature and explore them.

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Tell me about your current role and what you enjoy most in your work.

In my client-facing role, I primarily work on antitrust cases in the life sciences and health care sectors. My clients are mostly pharmaceutical companies, health insurance providers, and pharmacy benefit managers. Internally, I serve on the firm’s board of directors and executive committee, which makes decisions about running the firm and guides firm strategy. So, I wear a lot of different hats here.

What I love most about my work is the constant learning. I’m always exposed to new industries or new aspects of industries I already know, which makes every year a learning experience. I’ve also always enjoyed writing. I write all my own reports because the process helps me fully understand and connect the ideas in my analysis. For me, writing is a key part of learning.

And, of course, the people. We have a great team at Bates White, and we’ve worked hard to create a collaborative culture—hiring the right people, creating incentives for collaboration instead of competition. It makes the work environment very enjoyable. We built Bates White by keeping what worked from other organizations and dropping what didn’t. I’m grateful for everything that’s come from being a part of this firm.

What skills do you find most important for economics consultants?

One of the most important skills is communication—being able to explain complex concepts in a way people can understand and appreciate. When you’re presenting to judges or juries, who might have advanced training in other fields but not in economics, you need to break down complex analyses into something they can grasp.

Teamwork is also key. Economic consulting is about being a team player, working effectively as part of a team, learning from others, and making contributions while allowing others to do the same. People who come in with a “can-do” attitude and are problem solvers tend to succeed.

Natural curiosity and an entrepreneurial mindset are also important. People who see every project as a learning opportunity and embrace new areas or challenges do well in this industry.

What does the learning process look like for someone starting out in economic consulting at Bates White?

At Bates White, we use an apprenticeship model. It’s like how a plumber or electrician learns their trade—you learn by observing and working alongside people who do the job well. Even today, I learn a lot from watching how others handle challenges.

Early in your career, you get exposed to different industries and do a lot of on-the-job learning. We also have formal training, like how to manage people, but much of the learning happens informally by observing and mimicking successful colleagues.

What advice would you share with current graduate students?

I would encourage them to look for opportunities, such as internships. When you're focused on your own research and dissertation, it's easy to lose perspective on everything else and the many ways your skill set can be applied. Exploring options outside of your dissertation will give you a broader perspective on how your skills can be applied in the real world.

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AUTHOR

Bomi Kang
Ph.D. candidate, Economics

Bomi Kang is a Ph.D. candidate in Economics at Duke University. She holds an M.A. and B.A. in economics from Yonsei University in South Korea. Her research focuses on industrial organization and finance, with a particular interest in ESG-related topics, including voluntary carbon-credit markets and green technologies.