Opinion ID: 163083
Heading Depth: 3
Heading Rank: 3

Heading: Stock Data

Text: 119 John Lunn, CWC's expert, criticized Denver's studies because they used stock data and not flow data. Studies utilizing stock data provide information on an industry at a discrete point in time. Flow data show changes that occur in the industry over time. Lunn testified that substantial changes in a market situation and substantial changes in flows do not show up in studies utilizing the stock concept. He then speculated that a study utilizing flow data might show no disparities even though an analysis of stock data may indicate that discrimination is present. Lunn, however, illustrated his point by using a hypothetical involving law school admissions: he did not test his hypothesis on actual flow data from the Denver construction market and he did not testify that any substantial change had occurred in the Denver construction industry which would make a study using flow data more reliable than the disparity studies conducted by BBC and NERA. 120 Denver's individual studies examined the Denver construction industry from the 1970s through 1997. Each study showed disparities between M/WBEs and non-M/WBEs. Thus, considered in the aggregate the disparity studies themselves undermine CWC's unsupported assertion that the use of flow data would explain the disparities.