Manipulation on Trial

Economic Analysis and the Hunt Silver Case

Manipulation on Trial

The unprecedented rise and fall in silver's price during 1979-80 resulted in charges of market manipulation against the Hunt brothers of Dallas, charges that led to a lengthy trial and a guilty verdict. In this book Jeffrey Williams, who was an expert witness in the actual trial, focuses on the economic analysis used at the trial, the relationship of that analysis to the attorneys' arguments, and its effectiveness before the jury. Manipulation on Trial draws broadly applicable lessons from this important case. Through a series of essays, it investigates the elusive definition of manipulation, the difficulties of interpreting statistical evidence, the imprecision in calculating damages, and the hazards introduced when economic analysis enters complex litigation.


"...should be interesting and instructive reading for business economists, especially for those who would venture into the loosely-charted, interdisciplinary world of forensic economics." Samuel C. Webb and Jen-Chi Cheng, Southern Economic Journal

"For those interested in the intersections of law and economics, the volume will be a wonderful resource." Jonathan R. Macey, Journal of Economic Literature