Albert Banal-Estanol

Professor, Universitat Pompeu Fabra

Dr Albert Banal-Estanol is an Associate Professor at Universitat Pompeu Fabra, Affiliated Professor at City University of London, Visiting Professor at College of Europe in Brugge, and research fellow at the IESE Business School and at the DIW Berlin. Previously, he has held teaching and research positions at the University of Western Ontario in Canada, IFP-Energies Nouvelles in France, Northwestern University in the US, the University of Cambridge and London Business School in the UK and the University of Mannheim in Germany. Albert is the director of the MSc in Finance and Banking at UPF and the former director of the MSc in Competition and Regulation at City University of London.

Albert has over 15 years of experience undertaking research, teaching and consultancy in the areas of competition policy, regulation and business strategy. Albert has published more than 20 articles in some of the most prestigious academic journals in the field, such as the Journal of Industrial Economics, the International Journal of Industrial Organisation, Management Science and the Journal of Economics & Management Strategy.

Albert has provided consultancy advice in several competition cases and is a current member of the Academic Panels of the UK’s competition authority, the Competition and Markets Authority (CMA), and the UK’s energy regulator, the Office for Gas and Electricity Markets (Ofgem). He has also acted as a technical expert for several reports for competition authorities and regulation agencies such as the UK’s OFT and the European Commission’s DG Competition.

Albert has organised and delivered an extensive range of more than 20 professionally-oriented executive training courses for (i) competition authorities and regulators such as Mexico’s CRE (energy) and IFT (telecom) and the UK’s Ofgem (energy), (ii) government agencies such as the UK’s Department of Trade and Industry and the Department for Business, Enterprise and Regulatory Reform and (iii) private companies such as Gaz de France. Albert has also organised and delivered several courses on competition and regulation for regulators across Africa in collaboration with the World Bank, the EU and the African Forum for Utility Regulators.

A detailed CV can be downloaded here.

    • Phd in Economics, Universitat Autònoma de Barcelona
    • MSc in Mathematics, Université Paul Sabatier, Toulouse
    • BSc in Mathematics, Universitat Autònoma de Barcelona
    • Papers & reports
    Pre-Contractual Information and Billing in the Energy Market: Improved Clarity and Comparability
    Albert Banal-Estanol, Ipsos, London Economics, Deloitte, European Commission, Directorate-General for Justice and Consumers, June 2018
    • Papers & reports
    Common Ownership and Market Entry: Evidence from the Pharmaceutical Industry
    Albert Banal-Estanol, Melissa Newham (Leuven and DIW), Jo Seldeslachts (Leuven and DIW), Barcelona GSE Working Paper 1042, May 2018, May 2018
    • Papers & reports
    Common ownership of German companies
    Albert Banal-Estanol, Jo Seldeslachts, Melissa Newham, DIW Economic Bulletin, vol. 7(30), July 2017
    • Papers & reports
    Effects of Mergers on Hub Prices: An Ex-post Evaluation of the GDF/Suez Merger
    Albert Banal-Estanol, Elena Argentesi (Bologna), Jo Seldeslachts (Leuven and DIW)., DIW Berlin Working Paper, May 2017
    • Papers & reports
    The Economic Impact of Enforcement of Competition Policies on the Functioning of EU Energy Markets
    Albert Banal-Estanol, ICF London, DIW Berlin, European Commission, Directorate-General for Competition, January 2016
    • Papers & reports
    The Flip Side of Financial Synergies: Coinsurance versus Risk Contamination
    Albert Banal-Estanol, Marco Ottaviani (Bocconi), Andrew Winton (Minnesota), Review of Financial Studies, Vol. 26 (12), December 2013, pp: 3142-3181., December 2013
    • Papers & reports
    Behavioural Simulations Models in Spot Electricity Markets
    Albert Banal-Estanol, Augusto Ruperez-Micola (Luxembourg), European Journal of Operational Research, Vol. 214 (1), pp: 147-159, October 2011
    • Papers & reports
    Merger Failures
    Albert Banal-Estanol, Jo Seldeslachts (Amsterdam), Journal of Economics & Management Strategy, Vol. 20 (2), pp. 589-624, July 2011
    • Papers & reports
    Screening and Merger Activity
    Albert Banal-Estanol, Rainer Nitsche, Paul Heidhues, Jo Seldeslachts (Amsterdam), Journal of Industrial Economics, Vol. 58 (4), pp. 794–817, December 2010
    • Papers & reports
    Minority Interests in Competitors
    Albert Banal-Estanol, DotEcon Ltd (London), Jo Seldeslachts, Office of Fair Trading (London), March 2010
    • Papers & reports
    Composition of Electricity Generation Portfolios, Pivotal Dynamics and Market Power
    Albert Banal-Estanol, A. Ruperez-Micola (Luxembourg), Management Science, Vol. 55 (11), pp. 1813-1831, November 2009
    • Papers & reports
    Incentives and Coordination in Vertically Related Energy Markets
    Albert Banal-Estanol, Derek Bunn (LBS), Augusto Ruperez-Micola (Luxembourg), Journal of Economic Behavior & Organization, Vol. 67 (2), pp. 381-393. 9-91, August 2008
    • Papers & reports
    Endogenous Mergers and Endogenous Efficiency Gains: The Efficiency Defence Revisited
    Albert Banal-Estanol, Inés Macho-Stadler (UAB), Jo Seldeslachts (Amsterdam), International Journal of Industrial Organization, Vol. 26 (1), pp. 69-91, January 2008
    • Papers & reports
    Bank Mergers and Diversification: Implications for Competition Policy
    Albert Banal-Estanol, Marco Ottaviani (Bocconi), European Financial Management, Vol.13 (3), pp. 578–590, June 2007
    • Papers & reports
    Information-Sharing Implications of Horizontal Mergers
    Albert Banal-Estanol, International Journal of Industrial Organization, Vol. 25, pp. 31– 49, February 2007
    • Papers & reports
    Mergers with Product Market Risk
    Albert Banal-Estanol, Marco Ottaviani (Bocconi), Journal of Economics & Management Strategy, Vol. 15 (3), pp. 577-608, October 2006
    • Papers & reports
    Market Power and Spatial Arbitrage between Interconnected Gas Hubs
    Albert Banal-Estanol, Olivier Massol (IFP-Energies Nouvelles), Energy Journal, Vol. 39 (2), 2018, pp. 67-95, 2018