Experts in Economics & Statistics

A consistent choice for industry leading companies
and the nation's preeminent law firms for over 40 years.

Finis R. Welch, Ph.D.

Dr. Welch founded Welch Consulting and continues to serve as its president. He received his Ph.D. in Economics from the University of Chicago and has taught economics for an academic career that spanned 40 years. During that time he taught, in chronological order, at the University of Chicago, Southern Methodist University, Yale University, the City University of New York -- where he served as Executive Officer of the Ph.D. Program in Economics -- the University of California, Los Angeles (UCLA) and Texas A&M University.

Currently Dr. Welch is Professor Emeritus of Economics, UCLA, and Emeritus Distinguished Professor of Economics, Texas A&M. He has published over 100 articles in professional journals, monographs and books. He has served on the editorial boards of several professional journals including the American Economic Review and the Journal of Labor EconomicsDownload Finis Welch's Academic Vitae Here.

Dr. Welch is a member of the National Academy of Social Insurance, a fellow of the American Academy for the Advancement of Science, a fellow of the Econometric Society and a fellow of the Society of Labor Economists. He is past vice president of the American Economic Association and past vice president and president of the Society of Labor Economists. Dr. Welch received the Jacob Mincer Career Achievement Award from the international Society of Labor Economics.

Dr. Welch began working in litigation in the early 1970s and has testified many times in Federal and State Courts as well as before Congressional Committees and regulatory bodies.


Testifying Expert, Breach of Contract: Plaintiff alleged breach of contract regarding sales of medical products. Filed reports and testified in deposition about material errors in plaintiff’s damage model. Assisted defense counsel with a series of depositions of plaintiff’s expert.

Testifying Expert, Product Liability: State governments alleged that citizens’ use of tobacco products raised Medicaid expenses. Prepared reports showing that states’ damage models overstated health expenses related to smoking-related illnesses.

Testifying Expert, Intellectual Property: Plaintiff alleged patent infringement by manufacturer of microprocessors. Prepared a report criticizing plaintiff’s damage model.

Testifying Expert, Defamation: Two related lawsuits in which a manufacturer of consumer products allegedly lost sales because of derogatory rumors spread by a competitor. Filed numerous reports on damages and testified in second case.

Testifying Expert, Employment Discrimination: Class action in which plaintiffs alleged that a utility discriminated against African Americans in promotions to management and pay while in management. My report analyzed the claims of individual named plaintiffs and the assertions that any race disparities were common across all proposed class members. Plaintiffs’ motion for class certification was denied.

Testifying Expert, Employment Discrimination: Nationwide class action alleging race and gender discrimination in pay, promotions, and job assignment by a national retail chain. Assessed individual claims of the named plaintiffs and showed a lack of common patterns of adverse impact across stores and districts. Filed expert reports, testified at deposition, and assisted counsel with depositions of plaintiffs and opposing experts.

Testifying Expert, Employment Discrimination: Plaintiffs alleged discrimination against African American financial advisors. Analyzed transfers of accounts from departing financial advisors to remaining advisors. Filed expert report.

Testifying Expert, Employment Discrimination: Multi-plaintiff age case involving transfers of nonunion workers from plant that was closed. Showed that age was not a factor in the selection for transfer when the timing of retirements and the qualifications of the employees available for transfer, were taken into account. Prepared a series of reports and declarations and testified at Daubert hearing and trial.

Consultant, Employment Discrimination: Examined the earnings of workers at a national research laboratory in response to claims made by employees that Asians and Hispanics were paid less than similarly situated white employees. Performed statistical analyses of pay disparities, prepared a report of findings, and presented results to laboratory personnel. Also met with Hispanic members of the state legislature.

Testifying Expert, Employment Discrimination: Class action in which a steel manufacturer was accused of race discrimination in promotions. Prepared a report and declaration critiquing the plaintiffs’ expert and analyzing the process for filling open positions. Plaintiffs’ motion for class certification was denied.

Testifying Expert, ERISA Violation. Employees of an international industrial electrical equipment manufacturer alleged they were charged excessive fees by the provider of their retirement plan. Addressed opposing expert’s statistical evidence in expert reports, deposition and trial testimony.

Testifying Expert, Conspiracy to Depress Wage Rates: Four separate class actions in which plaintiffs alleged that employers depressed wages by knowingly hiring and harboring illegal immigrant workers. Provided analysis and criticism, using economic theory and statistical methods, of the plaintiffs proposed damage model. None of the proposed classes was certified.

Testifying Expert, University Admissions: Case involved racial preferences in university admissions. Filed a report and testified at deposition critiquing the previously published work of two opposing experts.

Testifying Expert, Title IX: A private university was accused of non-compliance with Title IX of the 1972 Amendment to the 1964 Civil Rights Act when it dropped its women’s volleyball from varsity competition. Filed a report and testified at trial about numerous studies we did on opportunities for qualified female vs. male students at that school to participate in varsity sports. 

Testifying Expert, Insurance Redlining: Class action in which a fair housing group alleged that a national insurer’s past underwriting criteria for homeowners insurance disparately impacted minorities in five metropolitan areas. Statistical analysis showed that there was no increase in policies in minority neighborhoods after the guidelines in question were eliminated. Prepared report and testified in deposition.

Consultant, Fair Lending: Retained by a major mortgage market participant to audit its automated underwriting tool. Analyzed disparate impact by race and presented findings to company management.

Testifying Expert, Insurance Discrimination: Retained in several cases by a national insurance company where use of credit scores in pricing auto and homeowners insurance was alleged to have a disparate impact against minorities. Analyzed the relationship between credit scores and frequency and size of claims as part of business justification defense. Prepared reports in some of these cases, but none went to trial.

Testifying and Consulting Expert, Insurance Discrimination: Assisted a major auto insurer in responding to state insurance department concerns about an auto insurance underwriting practice. The state challenged the industry-wide practice of assigning applicants who had previously been driving without insurance to the highest risk group. Assisted the company with its response to data calls, analyzed the data from our client and other companies, and met with insurance department professionals. Testified at a public hearing on the subject.