Team
Our international and multilingual team of over 40 professional consultants work for clients in all areas of competition policy enforcement and regulation. They combine extensive economic knowledge with practical experience of the regulators’ approach. Clients, courts and regulators value our intellectual rigor and the clarity of our exposition.
Bas Dessens
Director
Bas Dessens
Director
Bas Dessens is a Director at the London office. He joined E.CA Economics in 2006 and has extensive experience in the field of competition economics. In particular, his work has focused on damage assessments related to cartel/information exchange cases (e.g., trucks, smart-card chips, air cargo) and economic analysis in the context of merger proceedings (e.g., EssilorLuxottica/GrandVision, Holcim/Lafarge, Knauf/Armstrong). Bas was further engaged in cases related to state aid, abuse of dominance, and regulatory matters.
Bas has experience in a broad range of sectors, including transportation, lifts, advertising, microelectronics, pharmaceuticals, beverage distribution, beer, retail, telecommunications, auditing services, film distribution, car parks, forklift trucks, gas-insulated switchgear, and other commodity industries.
Bas supported clients on cases brought before the European Commission, the German Bundeskartellamt, the UK Competition and Markets Authority, the Netherlands Authority for Consumers and Markets, and the Belgian Competition Authority. For more than a year, Bas was seconded to the UK Competition Commission (the Competition and Markets Authority’s predecessor), where he worked on several merger proceedings and a market investigation.
Prior to joining E.CA, Bas served as a consultant for a business consultancy in the Netherlands. While there, he worked on a number of projects that focused on the consumer electronics, chemicals, and oil and gas industries. Bas holds master’s degrees from Tilburg University in the Netherlands and the Humboldt University of Berlin in the areas of business and economics.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- MSc International Business, Tilburg University
- MSc Economics and Management Science, Humboldt University of Berlin
Publications
- 2023
Review of the CMA’s Approach to Vertical Mergers
2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
2016
Nieuwe economische standaarden in fusiecontrole: Wat komt er na HHI en SSNIP (New economic standards in merger control; in Dutch)
Bas Dessens, , Tijdschrift Mededingingsrecht in de Praktijk, Sdu Uitgevers, The Hague, September 2016Zugangsregulierung – Auswirkung auf Investitionen in das Festnetz in der Schweiz
Presentations
- 2011
Competitive assessment of price cycles in German retail gasoline markets
Bas Dessens, Hans W. Friederiszick, Dennis Beling , Presentation at the ACE Annual Conference, Bergen, Norway, November 2011
Hans W. Friederiszick
Director, E.CA and Research Fellow, ESMT Berlin
Hans W. Friederiszick
Director, E.CA and Research Fellow, ESMT Berlin
Dr Hans W. Friederiszick is a Director and founder of E.CA Economics. Dr Friederiszick has more than 20 years of experience advising clients across the competition economics field, i.e. mergers, cartels, abuse of a dominant position and State aid cases, and has led teams of economists engaged in international antitrust investigations. He has been retained as an economic expert in the German, UK and other European courts and has been named in Global Competition Review’s (GCR) Who’s Who as one of the field’s leading competition economists. According to WWL’s 2022 client survey Dr Friederiszick “is an exceptional competition economist” and, according to the same survey, “his in-depth knowledge and experience in the field is impressive”.
In 2024, he was again listed as a Global Elite Thought Leader in WWL Competition report. Additionally, the renowned German legal publication JUVE ranked him among the very top competition economists in Germany in 2023.
Dr Friederiszick was part of the first Chief Economist Team of DG COMP (2003 to 2006) and is a Research Fellow at ESMT Berlin. He has published widely and is a regular speaker at international antitrust conferences. Recent publications address the economic analysis in European competition law (NOMOS Kommentar, Europäisches Wettbewerbsrecht, 2023 and 2024), reverse privatization in waste collection (Review of Industrial Organization, 2022) and cartel litigation activity (Journal of Antitrust Enforcement, 2021).
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-geth.png)
Contact
Education
- Dr. rer. pol., Free University, Berlin
- Doctorate Program, Humboldt University of Berlin and Free University, Berlin
- Dipl.-Vw., Free University, Berlin
Publications
- 2024
European State Aid Law
Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, published by Prof Dr Marc Bungenberg and Helge Heinrich at Nomos Verlagsgesellschaft mbH & Co. KG, European State Aid Law, second edition, October 2024Economic trade-offs in rail transport
Pauline Affeldt, Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, Francesca Urzi, E.CA Economics, August 2024The role of economic analyses in the enforcement of European antitrust law
Rafael Aigner, Hans W. Friederiszick, Published by Prof Helmuth Schröter, Robert Klotz and Bernhard von Wendland at Nomos Verlagsgesellschaft mbH & Co. KG, European Competition Law, third edition, March 2024Our director Hans W. Friederiszick and associate principal Rafael Aigner contributed the chapter “The role of economic analyses in the enforcement of European antitrust law”.
This reference work for competition law covers the entire field of antitrust and merger law with all procedural rules, enriched with commentaries and interpretations by relevant experts.
2022
Reverse Privatization as a Reaction to the Competitive Environment: Evidence from Solid Waste Collection in Germany
Hans W. Friederiszick, Juri Demuth, S. Reinhold, Review of Industrial Organization 60, 217–261, October 20222021
Support study for the revision of the EU Guidelines on State aid for environmental protection and energy applicable in 2014-2020
Elżbieta Głowicka, Hans W. Friederiszick, Anselm Mattes, Jan Christopher Rönn, Arvid Viaene and others, DIW Berlin, SheppardMullin, University of East Anglia, European Commission 2021, January 20212020
The impact of EU cartel policy reforms on the timing of settlements in private follow-on damages disputes—an empirical assessment of cases from 2001 to 2015
Hans W. Friederiszick, Linda Gratz, Michael Rauber, Journal of Antitrust Enforcement, Volume 9, Issue 2, July 2021, Pages 313–346, November 2020Retrospective evaluation of the regional State aid framework
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, and others, Final Report prepared by E.CA Economics, DIW Berlin and Sheppard Mullin Richter & Hampton LLP, European Commission, June 20202018
Ex Post State Aid Evaluation in Environmental Aid
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, Simone Lünenbürger, Andreas Rosenfeld, European State Aid Law Quarterly 4/2018 (Vol. 17), 509 - 524, October 2018GCR Insight – Handbook of Competition Economics 2019 – Germany overview
Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche, GCR Insight, 2018 Law Business Research Ltd, ISBN:978-78915-106-0, October 2018Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche contributed to the Competition Economics Handbook 2019 – Germany overview – which is now live on GCR Insight.
Recent economic applications in EU merger control: UPP and beyond
More than a decade since the introduction of the ‘significant impediment to effective competition’ test (SIEC test) in the EU, refined economic methods have become increasingly relevant to the evaluation of mergers. This paper addresses three of the more important assessment methods in this context: the UPP (upward pricing pressure) method, the analysis of ‘natural experiments’ and the analysis of bidding data.
Environmental State aid – study for the German ministry on ex-post evaluation
Linda Gratz, Michael Rauber, Hans W. Friederiszick, Umweltbundesamt, ISSN 1862-4804, Dessau-Roβlau, May 2018The EU Commission recently introduced new obligations for the ex-post evaluation of State aid schemes for member states. To prepare for upcoming submissions to the Commission the German Federal Ministry for the Environment and the associated Environmental Agency engaged E.CA Economics (Dr. Hans W. Friederiszick, Dr. Linda Gratz, Dr. Michael Rauber, Dr. Daniel Streitz) and the law firm Redeker Sellner Dahs (Dr. Simone Lünenbürger, Dr. Gero Ziegenhom, Dr. Andreas Rosenfeld, Dr. Ulrich Karpenstein) for an interdisciplinary research project on ex-post evaluations of environmental aid. To assess the probability with which the Commission would request an ex-post evaluation of an environmental State aid scheme, the team designed a novel warning system. Moreover, a roadmap helping to steer the organisation, scope and timing of an ex-post evaluation by the ministry was developed. The most important methodical issues when carrying out an ex-post evaluation were explained using examples of environmental aid schemes. The legal analysis included the data-protection framework and the requirements regarding the expert`s independency for upcoming ex-post evaluations.
Reverse privatization as a reaction to the competitive environment: Evidence from solid waste collection in Germany
Hans W. Friederiszick, Juri Demuth, Steffen Reinhold, ESMT Working Paper 18-02, SSRN, RePEc, EconStor, April 2018Hans W. Friederiszick, Juri Demuth and Steffen Reinhold have published a working paper exploring the motives for reverse privatisation of the provision of solid waste collection services by German municipalities. Using a unique panel data set the authors show that municipalities do not only react to cost advantages of private companies but also to the competitive environment.
2017
Price Comparison Websites and Selective Distribution Systems: An Effects-Based Approach
Hans W. Friederiszick, Theon van Dijk, and Elżbieta Głowicka published an article on the CompLaw blog, arguing for an effects-based approach when analyzing restrictions in the use and/or active support of price comparison websites by authorised dealers within a selective distribution system.
2016
Remunicipalization and Competition in the Waste management Industry
2015
Competition policy in modern retail markets
Hans W. Friederiszick, Elżbieta Głowicka, Journal of Antitrust Enforcement, Oxford University Press, November 2015Hans W. Friederiszick and Ela Glowicka published an article on the Journal of Antitrust Enforcement. The article maps out the alignment of characteristics of products targeted by recent antitrust enforcement in Europe with the likelihood of free-rider effects taking place. Specifically in the case of products with search and experience characteristics, intensive enforcement activity despite prevalent free-riders were found.
Hidden Efficiencies: The Relevance of Business Justifications in Abuse of Dominance Cases
This article assesses the relevance of efficiencies and other justifications in recent Article 102 TFEU cases. Based on a review of all EU decisions and openings between 2009 and mid-2013, we find that procompetitive justifications still play an unsatisfactory role in the EU Commission’s evaluations, except in IT-related abuse cases. This stands in contrast to the policy goals expressed during the reform phase (from 2005 to 2009), the Guidance Paper, and the increasing relevance of efficiency considerations in merger proceedings. We argue that this development is due to a malfunctioning of the balancing test—that is, the weighting of pro- and anticompetitive effects, as pro- and anticompetitive effects are often non-separable and non-monotone in Article 102 TFEU cases. Policy options are discussed, and it is argued that a fully integrated analysis is the only policy option fully addressing the problem.
A Fleet Without a Captain? Taking Stock of European Antitrust Litigation Post EU Directive
2014
Cross-country price comparisons for competitive assessment
Resale Price Maintenance: An overview of EU and national case law
Hans W. Friederiszick, Elżbieta Głowicka, Bulletin e-Competitions EU Resale Price Maintenance, Art. N° 62050., January 20142013
Implications of the State Aid Modernisation for the Assessment of Large Investment Projects
The Regional Aid Guidelines foresee specific screens for an in-depth assessment of Large Investment Projects (LIPs): an in-depth assessment is initiated if the market share of the aid beneficiary is above 25% or the investment results in a capacity expansion above 5% in a declining market. It is currently being discussed within the broader State Aid Modernization package and also due to a recent court ruling on the case Propapier whether these market screens should stay as they are. Based on a dataset of all LIP cases notified under the 2006 Regional Aid Guidelines, we evaluate those market screens and find that the screens do have the power to identify problematic cases – cases with a below average expected aid effectiveness and aid measures targeting specific industries. We also find, however, that the market screens are affected by a severe implementation problem and, hence, do not help to shorten phase I investigations. From a conceptual perspective, they are also not capable of identifying some of the potentially most problematic regional State aid cases. Policy options are discussed.
2008
Triggering inspections ex officio: moving beyond a passive EU cartel policy
Hans W. Friederiszick, Frank P. Maier-Rigaud, Journal of Competition Law and Economics 2008 4: 89-113, March 20082007
Using Economic Analysis to Assess R&D&I State Aid Measures
Hans W. Friederiszick, Lars-Hendrik Röller, European State Aid Law Quarterly, Vol. 6 (4), 592-604, October 2007European State aid control. An Economic Framework
Hans W. Friederiszick, , Lars-Hendrik Röller, In P. Buccirossi (Ed.) Handbook of Antitrust Economics. Cambridge, Mass.: MIT press. 625-671, March 2007GCR Insight – Handbook of Competition Economics 2020 – Germany overview
Hans W. Friederiszick, Simone Kohnz, and Rainer Nitsche contributed to the Competition Economics Handbook 2020 – Germany overview
The Handbook of Competition Economics 2014 – Germany (country chapter)
“An extract from The Handbook of Competition Economics 2014 – www.GlobalCompetitionReview.com”
Zugangsregulierung – Auswirkung auf Investitionen in das Festnetz in der Schweiz
An Economic Assessment of the Relationship between Price Regulation and Incentives to Innovate in the Pharmaceutical Industry
Analysing the Relationship Between Regulations and Investment in the Telecom Sector
Der “Refined Economic Approach” in der Beihilfenkontrolle. Innen- und Außenansichten
Hans W. Friederiszick, In: P. Oberender (Ed.), Der "more economic approach" in der Beihilfenkontrolle. Schriften des Vereins für Socialpolitik. Band 319. 49-62.Anticompetitive Behaviour of Public Enterprises – Lessons to Be Learned from European State Aid Control
Hans W. Friederiszick, Concurrences 1: forewordDoes Europe need subsidized competition for achieving the goal of rapid deployment of broadband networks?
Rainer Nitsche, Hans W. Friederiszick, Lars-Hendrik Röller, Comments on the draft Community Guidelines for the application of State aid rules in relation to rapid deployment of broadband networks. Submitted to the EC Commission.Dominant and Efficient – On the Relevance of Efficiencies in Abuse of Dominance Cases
Hans W. Friederiszick, Linda Gratz, ESMT Working Paper No. WP-12-01.The European Commission’s policy on the relevance of efficiency considerations in abuse of dominance cases (Article 102 TFEU) has not been resolved satisfactorily. In an attempt to give guidance on this matter, we address the topic from two different angles: First, we review EC soft law provisions and recent decisions. Based on this review, we find that efficiency defences play a limited role under the current practice. They are of relevance in the growing number of IT related cases but only in these. Second, we explore – in the example of low price strategies – business practitioners’ views on the relevance of the pro and anti-competitive motives. Based on a survey of EMBA students, we find that low price strategies are indeed frequently used. The motives are diverse however, often pro-competitive and in line with antitrust compliance, i.e. low price strategies are rarely considered advisable for leading firms. Finally, policy conclusions are drawn.
Economic Analysis in EU Competition Cases
Hans W. Friederiszick, In: J. Drexl, L. Idiot and J. Monéger (Eds.), Economic Theory and Competition Law. Chapter 1, 3-19.Energy: Choices for Europe
Kooperation zum Bau neuer Glasfasernetze – Wettbewerbsökonomische Beurteilung für Swisscom, ewz, ewb und die Stadt St. Gallen
Ökonomische Analyse in der EU Wettbewerbspolitik. Ein erstes Resümee
Hans W. Friederiszick, Lars-Hendrik Röller, In: Baudenbacher, C. (Ed.), Neueste Entwicklungen im europäischen und internationalen Kartellrecht. Dreizehntes St. Galler Internationales Kartellrechtsforum, Helbing und Lichtenhahn.On the Difficult Relationship between Competition Policy and Public Enterprises – What can be learned from Recent Developments in the Field of European State Aid Control
Hans W. Friederiszick, Jakub Kałuzny, In: The Pros and Cons of Competition in/by the Public Sector, edited by the Swedish Competition Authority.Overcharge Estimations in Cartel Cases – Lessons Learned from a Recent Judgment on the German Paper Wholesaler Cartel
Quantification of Harm in Damages Actions for Antitrust Infringements: Insights from German Cartel Cases
Quantification of harm to competition by national courts and competition agencies
Hans W. Friederiszick, Elisabeth Fugger, Background note for the OECD Secretariat to the Competition Committee (FR & EN).Railway Alliances in EC Long-Distance Passenger Transport: A Competitive Assessment Post-Liberalization 2010
Hans W. Friederiszick, Tseveen Gantumur, Lars-Hendrik Röller, Jens Weinmann, Rajshri Jayaraman, ESMT No. WP-109-01.The German Cement Cartel case and the trade-off between accuracy and practicality
Hans W. Friederiszick, Concurrences 1: 24-26.The Handbook of Competition Economics 2012 – Germany (country chapter)
Hans W. Friederiszick, Rainer Nitsche, Dennis Beling, In: C. Campbell (Ed.), The Handbook of Competition Economics 2012. Nottinghamshire: Encompass Print Solutions.An extract from The Handbook of Competition Economics 2012- a Global Competition Review special report – www.GlobalCompetitionReview.com.
The Role of Economics in Cartel Detection in Europe
Hans W. Friederiszick, Frank P. Maier-Rigaud, In: D. Schmidtchen, M. Albert and S. Voigt (eds.), The More Economic Approach in European Competition Law, Mohr Siebeck, Tübingen.
Presentations
- 2017
The Antitrust Enforcement Symposium 2017
With more than forty senior law and economic experts, the Antitrust Enforcement Symposium in Oxford has become one of the leading platforms for most recent competition policy issues around the globe. The symposium is organized by Ariel Ezrachi and Bill E. Kovacic, and supported by E.CA Economics. This year it featured keynote speeches by Maureen Ohlhausen, FTC, Paul Johnson, Canadian Competition Bureau and Bob Marshall, Bates White. Hans W. Friederiszick, E.CA Economics, contributed to the panel discussion on digital markets.
DG COMP Workshop on pass-on
DG COMP organized a workshop in Brussels on 21st June 2017 with economic experts on the quantification of passing-on of overcharges in damages actions. Academic presentation were given by Roman Inderst, Özlem Bedre-Defolie, Markus Reisinger, André Romahn, Frank Verboven, Frode Steen and other.
Hans W. Friederiszick, E.CA Economics, discussed the practical feasibility specifically highlighting the discrepancy between economic and legal causality according to the recent Sainsbury’s vs. MasterCard decision (CAT, 2016).
Geographic Market Definition – Analysis & Visualization
Dr. Hans W. Friederiszick gave a presentation at the E.CA Compettion Law & Economics Expert Forum held in Brussels on 31 May 2017.
The E.CA Expert Forum, held annually, offers insights into recent developments in competition law and economics with a special focus on market definition for merger and antitrust purposes. The EU Notice on Market Definition was published in 1997 and has been widely used ever since. This year marks its 20th anniversary and we will take this opportunity to review some of the “classic” methods and issues related to market definition and look ahead at new questions arising in the era of fast-moving digital markets and two-sided platforms;
2016
Conference on State Aid Control: Where Law and Economics Meet
Hans W. Friederiszick chaired and Vincent Verouden spoke at the Lexxion Conference on State Aid Control: Where Law and Economics Meet, at the VUB in Brussels on 30 September 2016.
Different panels of experts discussed various topics as: Ex post evaluations of State aid, the economics of State aid to infrastructure, State aid in tax and international Treaties, the Market Economy Investor test, Theories of harm in State aid Control, International competitiveness.Go to more information about the event
Go to Vincent Verouden’s presentation
Presentation at The Antitrust Enforcement Symposium
Hans W. Friederiszick gave a presentation at the Antitrust Enforcement seminar in Oxford. He presented most recent figures on private litigation activity in Europe, specifically exploring the recent trend towards early settlements (based on joint work with Michael Rauber,E.CA Economics).
Presentation on rebates at the “New Frontiers of Antitrust“ conference in Paris
Hans W. Friederiszick discussed together with Andreas Mundt, Trevor Soames and Nicolas Petit recent developments regarding enforcement practice on rebates in Europe. Hans presentation (jointly produced with Linda Gratz , E.CA Economics) specifically explored the merits of the As Efficient Competitor Test.
Go to more information about the conference
2014
Is economic analysis in 102 cases still relevant post Intel?
Patents: Can Antitrust Authorities Contribute to Fixing the Dysfunctional Patent System?
2013
Workshop on EU Cartel Litigation The Economists’ role
Rainer Nitsche, Hans W. Friederiszick, Antitrust and Competition Law Compliance, Amsterdam, September 2013Dominant and Efficient – On the Relevance of Efficiencies in Abuse of Dominance Cases
The European Commission’s policy on the relevance of efficiency considerations in abuse of dominance cases (Article 102 TFEU) has not been resolved satisfactorily. In an attempt to give guidance on this matter, we address the topic from two different angles: First, we review EC soft law provisions and recent decisions. Based on this review, we find that efficiency defences play a limited role under the current practice. They are of relevance in the growing number of IT related cases but only in these. Second, we explore – in the example of low price strategies – business practitioners’ views on the relevance of the pro and anti-competitive motives. Based on a survey of EMBA students, we find that low price strategies are indeed frequently used. The motives are diverse however, often pro-competitive and in line with antitrust compliance, i.e. low price strategies are rarely considered advisable for leading firms. Finally, policy conclusions are drawn.
Standard of Proof for Economic Evidence in Competition Cases
2012
Economics to Detect Collusion : The Hunt for the Perfect Benchmark
Dominant and Efficient : On the relevance of efficiencies in Article 102 TFEU cases
Regional Aid Guidelines and Large Investment Projects
Hans W. Friederiszick, Presentation at the 10th Experts' Forum on New Developments in European State Aid Law, Brussels, June 2012Defending Cartels in Regulatory Investigations – The Role of Economics
Hans W. Friederiszick, Peter D. Camesasca , Presentation at the IBC Competition Economics 2012, London, March 20122011
Competitive assessment of price cycles in German retail gasoline markets
Bas Dessens, Hans W. Friederiszick, Dennis Beling , Presentation at the ACE Annual Conference, Bergen, Norway, November 2011Informationsaustausch
Hans W. Friederiszick, Presentation on the law and economics of information exchange at the Studienvereinigung Kartellrecht, Munich, October 2011Comments on the EU draft Guidance Paper – Quantification of harm
Hans W. Friederiszick, Presentation at the EC workshop on the draft Guidance Paper on the quantification of harm in Brussels, September 2011Kooperation zum Bau neuer Glasfasernetze – Wettbewerbsökonomische Beurteilung
Hans W. Friederiszick, Lars Wiethaus , Presentation at economiesuisse: Seminar FTTH Glasfaser, Zurich, June 2011Pros and cons of net neutrality – Assessment of a sustainable Internet business model for the near future
Hans W. Friederiszick, Simone Kohnz, Presentation at the ETNO Meeting, at the Deutsche Telekom representation, Berlin, March 2011Pharmaceutical innovation and pricing regulation – An economic assessment
Hans W. Friederiszick, Presentation at Novartis: Workshop on The Forms of Pharmaceutical Regulation and Their Influence on Innovation in the Health System, Prague, January 20112010
Pharmaceutical innovation and pricing regulation – An economic assessment
Hans W. Friederiszick, Presentation at the European Parliament: Economic Impact of Pharmaceutical Price Regulation on Innovative Products, Lunch Seminar organised by EUCOPE, Brussels , October 2010Private enforcement: Damage assessment – Insights from German cartel cases
Hans W. Friederiszick, Presentation at the Belgian Competition Authority: European Competition Day, Brussels, October 2010Wie geht es weiter nach der Krise? – Argumente für und gegen Fortführung des Temporary Framework State Aid
On the relationship between price regulation and innovation
Hans W. Friederiszick, Presentation at Howrey LLP: Competition and Intellectual Property Symposium, Paris, June 2010Measuring competition in regulation and antitrust
Hans W. Friederiszick, Presentation at the Justus-Liebig-University Giessen: Workshop on Effective Competition in Network Industries, Giessen, May 2010Pharmaceutical innovation and pricing regulation
Quantification of harm in damages actions for antitrust infringements
Hans W. Friederiszick, Presentation at the European Commission: Workshop on quantification of antitrust harm, Brussels, January 20102009
Competition between railway operators and low cost carriers in long-distance passenger transport
Hans W. Friederiszick, Presentation at the Zentrum für Europäische Wirtschaftsforschung: Competition Policy Forum, Mannheim, December 2009The German Cement Cartel
Hans W. Friederiszick, Presentation at the ACE Annual Conference, Berlin, November 2009, hosted by ESMT., November 2009On the difficult relationship between competition policy and public enterprises
Hans W. Friederiszick, Jakub Kałuzny, Swedish Competition Authority Seminar :"The Pros and Cons of Competition in/by the Public Sector", Stockholm, November 2009(An-) Reizeffekt: Stärken und Schwächen
Hans W. Friederiszick, Presentation at the Berliner Gesprächskreis zum Europäischen Beihilfenrecht e.V.: 16. Veranstaltung, Berlin, October 2009Legal and economic impact of the state aid measures
Hans W. Friederiszick, Presentation at the IBC Legal conferences, 3rd annual event: Competition Law in the Financial Services Sector, London, June 2009Analyzing the Perspectives for Intramodal Competition in the Railway Industry – the Case of Long-Distance Passenger Transport
Hans W. Friederiszick, Lars-Hendrik Röller , Presentation at the Bates White 6th Annual Conference, Washington, DC, June 2009Analyzing the Perspectives for Intramodal Competition in the Railway Industry – the Case of Long-Distance Passenger Transport
Elżbieta Głowicka
Director
Elżbieta Głowicka
Director
Dr. Ela Głowicka has over 15 years of experience in competition economics from her roles in economic consulting, enforcement, and academia. She advised clients in private litigation cases for damages from cartels, vertical agreements, and abuse of dominance in court proceedings across Austria, Brazil, Finland, Germany, and Slovenia. Additionally, Ela supported a complainant in an abuse of dominance complaint to the European Commission. She also advised merging parties in merger proceedings in front of the European Commission, the German Federal Cartel Office, the Polish Office for Competition and Consumer Protection, the United Kingdom’s Competition and Markets Authority, and the Slovenian Competition Protection Agency. Furthermore, she testified as a court expert in a private litigation matter related to excessive pricing.
In the area of State aid, Ela has extensive expertise in the ex-post evaluation of the European State aid rules. She co-authored retrospective evaluation studies for State aid for banks in difficulty, the regional State aid framework, the State aid guidelines for railways, and the State aid rules for environmental protection and energy, all published by DG Competition. In this context, Ela set up and managed international teams of consultants and researchers. Moreover, in her doctoral thesis, she evaluated the effects of rescue and restructuring aid on the survival probability of firms in difficulty. While working at the Chief Economist Team of DG Competition, Ela provided case advice to the Commissioner on State aid matters and contributed to the staff working paper on the methodology of State aid evaluation.
Ela joined E.CA Economics as a manager in 2013 and since then was promoted to director. Before that, she gained first-hand insight into EU competition policy developments as a member of the Chief Economist Team in DG Competition. She holds a doctoral degree from Humboldt University for the thesis on competition policy applied to bailouts.
For the policy briefing on State aid to rail freight transport Ela received an Antitrust Writing Award 2024 in the category of business articles on cross-border issues.
Ela works in English, German and Polish.
![](https://www.e-ca.com/wp-content/uploads/2018/05/awa.png)
Contact
Education
- PhD (Dr. der Wirtschaftswissenschaften) in Economics, Humboldt University of Berlin, summa cum laude
- MA in Applied Mathematics, Warsaw University
- MA in Quantitative Economics, Warsaw School of Economics (SGH)
Publications
- 2024
European State Aid Law
Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, published by Prof Dr Marc Bungenberg and Helge Heinrich at Nomos Verlagsgesellschaft mbH & Co. KG, European State Aid Law, second edition, October 2024Economic trade-offs in rail transport
Pauline Affeldt, Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, Francesca Urzi, E.CA Economics, August 2024Digital Empires Reinforced? Generative AI Value Chain
2023
Policy briefing: E.CA supports DG Competition with revision of Railway Guidelines
Impact assessment support study for the review of the Community guidelines on State aid for railway undertakings
Elżbieta Głowicka, , Malte Jeschonneck, Anselm Mattes, Luca Rancati, Francesca Urzi, Margaux Gabriel, Gabriele Dente, Salvatore Nava, Elena Salomone, David Deller, Sean F. Ennis, Bryn Enstone, Ana Alvarez Vidal, Nour el-Houda Bey, Michael Hofmann, Robert Klotz, European Commission, March 20232021
Support study for the revision of the EU Guidelines on State aid for environmental protection and energy applicable in 2014-2020
Elżbieta Głowicka, Hans W. Friederiszick, Anselm Mattes, Jan Christopher Rönn, Arvid Viaene and others, DIW Berlin, SheppardMullin, University of East Anglia, European Commission 2021, January 20212020
Retrospective evaluation rules for environmental support study on State aid protection and energy
Elżbieta Głowicka, Final Report prepared by E.CA Economics, Centre for Competition Policy (University of East Anglia) and Sheppard Mullin Richter & Hampton LLP, European Commission, June 2020Retrospective evaluation of the regional State aid framework
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, and others, Final Report prepared by E.CA Economics, DIW Berlin and Sheppard Mullin Richter & Hampton LLP, European Commission, June 20202018
Ex Post State Aid Evaluation in Environmental Aid
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, Simone Lünenbürger, Andreas Rosenfeld, European State Aid Law Quarterly 4/2018 (Vol. 17), 509 - 524, October 20182017
Price Comparison Websites and Selective Distribution Systems: An Effects-Based Approach
Hans W. Friederiszick, Theon van Dijk, and Elżbieta Głowicka published an article on the CompLaw blog, arguing for an effects-based approach when analyzing restrictions in the use and/or active support of price comparison websites by authorised dealers within a selective distribution system.
2015
Competition policy in modern retail markets
Hans W. Friederiszick, Elżbieta Głowicka, Journal of Antitrust Enforcement, Oxford University Press, November 2015Hans W. Friederiszick and Ela Glowicka published an article on the Journal of Antitrust Enforcement. The article maps out the alignment of characteristics of products targeted by recent antitrust enforcement in Europe with the likelihood of free-rider effects taking place. Specifically in the case of products with search and experience characteristics, intensive enforcement activity despite prevalent free-riders were found.
2014
Resale Price Maintenance: An overview of EU and national case law
Hans W. Friederiszick, Elżbieta Głowicka, Bulletin e-Competitions EU Resale Price Maintenance, Art. N° 62050., January 20142010
Swedish Interconnector case: improving electricity cross-border trade
Elżbieta Głowicka, Philippe Chauve, Martin Godfried, Edouard Leduc and Stefan Siebert, Competition Policy Newsletter, February 20102009
Generic entry in prescription medicines in the EU: Main characteristics, determinants and effects
Elżbieta Głowicka, V. Verouden, S. Lorincz, E. Pesaresi, Final Report on the pahramaceutical sector inquiry, European Commission staff working document, July 2009Fuel for thought – StatoilHydro / ConocoPhillips (JET)
Elżbieta Głowicka, Jérôme Cloarec, Dag Johansson, Philippe Redondo, Daniel Donath and Cyril Hariton, Competition Policy Newsletter, January 20092008
State aid and competition policy: the case of bailouts in the European Union
2007
Rettung – für kurze Zeit
Linda Gratz
Director
Linda Gratz
Director
Dr Linda Gratz is a Director at E.CA Economics in the Munich office. With over 15 years of experience, she has been a leading force in providing economic advice across the competition-law field, representing clients before the EU Commission and various national competition authorities.
Linda has conducted damage assessments in numerous high-profile cartel cases in the context of private litigation. These include fast-moving consumer goods such as drugstore products, roasted coffee, confectionery and flour. Beyond this, she has navigated complex cases in financial markets, dealing with multilateral interchange fees and reference interest rates (LIBOR). Her portfolio also includes cases as diverse as lotteries, gas-insulated switchgears, fire trucks, and automotive electronics.
Her analytical expertise is equally evident in the merger assessments, where she has worked on cases across various sectors such as telecommunications, petrol stations, construction materials, copper, fast-moving consumer goods, press logistics and touristic flights. Her work encompasses Phase I and II investigations before the EU Commission and various national competition authorities.
Since her doctoral thesis, Linda has developed a particular passion for abuse of dominance cases. She has advised clients in investigations involving predatory pricing, bundled rebates, excessive charges and refusal to supply. Her in-depth knowledge spans rail, insurances, and IP-related industries.
Currently, Linda is at the forefront of a high-profile case, advising a telecom operator in proceedings against a Big Tech company. Both parties accuse each other of abusing a dominant position, and Linda’s team assesses the relative bargaining power in bilateral negotiations over fees for IP data transport. This case is pivotal in the ongoing “fair share” debate at EU level, which aims to bolster network operators’ incentives to invest in Next Generation Networks.
Beyond her casework, Linda’s contributions to the OECD Roundtable on the role of efficiency claims in abuse of dominance cases underscore her thought leadership in the field. She has also provided strategic advice to a German ministry on the organizational and methodological aspects of ex-post evaluations of State aid and contributed to research studies for DG Competition.
Linda earned her doctoral degree from LMU Munich and has published extensively in leading international journals, including the International Journal of Industrial Organization, the Journal of Antitrust Enforcement, and the Journal of Competition Law & Economics. Her research spans exclusionary practices, efficiencies in mergers and abuse of dominance cases, price discrimination as well as “pay-for-delay” settlements in the pharmaceutical sector. Linda regularly shares her expertise at conferences and competition law seminars.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- PhD in Economics, University of Munich, Germany
- Research Fellow at Columbia University, New York, U.S.A
- MSc in Economics (Diplom Volkswirtin), University of Munich, Germany
- Erasmus student at Warwick University, Great Britain
Publications
- 2022
GCR Enforcer Hub – Germany: economist perspective
2020
The impact of EU cartel policy reforms on the timing of settlements in private follow-on damages disputes—an empirical assessment of cases from 2001 to 2015
Hans W. Friederiszick, Linda Gratz, Michael Rauber, Journal of Antitrust Enforcement, Volume 9, Issue 2, July 2021, Pages 313–346, November 2020Retrospective evaluation of the regional State aid framework
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, and others, Final Report prepared by E.CA Economics, DIW Berlin and Sheppard Mullin Richter & Hampton LLP, European Commission, June 20202018
Ex Post State Aid Evaluation in Environmental Aid
Hans W. Friederiszick, Elżbieta Głowicka, Linda Gratz, Simone Lünenbürger, Andreas Rosenfeld, European State Aid Law Quarterly 4/2018 (Vol. 17), 509 - 524, October 2018Environmental State aid – study for the German ministry on ex-post evaluation
Linda Gratz, Michael Rauber, Hans W. Friederiszick, Umweltbundesamt, ISSN 1862-4804, Dessau-Roβlau, May 2018The EU Commission recently introduced new obligations for the ex-post evaluation of State aid schemes for member states. To prepare for upcoming submissions to the Commission the German Federal Ministry for the Environment and the associated Environmental Agency engaged E.CA Economics (Dr. Hans W. Friederiszick, Dr. Linda Gratz, Dr. Michael Rauber, Dr. Daniel Streitz) and the law firm Redeker Sellner Dahs (Dr. Simone Lünenbürger, Dr. Gero Ziegenhom, Dr. Andreas Rosenfeld, Dr. Ulrich Karpenstein) for an interdisciplinary research project on ex-post evaluations of environmental aid. To assess the probability with which the Commission would request an ex-post evaluation of an environmental State aid scheme, the team designed a novel warning system. Moreover, a roadmap helping to steer the organisation, scope and timing of an ex-post evaluation by the ministry was developed. The most important methodical issues when carrying out an ex-post evaluation were explained using examples of environmental aid schemes. The legal analysis included the data-protection framework and the requirements regarding the expert`s independency for upcoming ex-post evaluations.
Margin squeeze: Recent developments in EU and national case law
2015
Hidden Efficiencies: The Relevance of Business Justifications in Abuse of Dominance Cases
This article assesses the relevance of efficiencies and other justifications in recent Article 102 TFEU cases. Based on a review of all EU decisions and openings between 2009 and mid-2013, we find that procompetitive justifications still play an unsatisfactory role in the EU Commission’s evaluations, except in IT-related abuse cases. This stands in contrast to the policy goals expressed during the reform phase (from 2005 to 2009), the Guidance Paper, and the increasing relevance of efficiency considerations in merger proceedings. We argue that this development is due to a malfunctioning of the balancing test—that is, the weighting of pro- and anticompetitive effects, as pro- and anticompetitive effects are often non-separable and non-monotone in Article 102 TFEU cases. Policy options are discussed, and it is argued that a fully integrated analysis is the only policy option fully addressing the problem.
Economics of Payment Cards
Linda Gratz, Özlem Bedre-Defolie, KONKURRENSVERKETS WORKING PAPER SERIES IN LAW AND ECONOMICS, WORKING PAPER 2015:1, January 20152014
Is Economic Analysis in 102 Cases Still Relevant Post Intel?
2013
On the Competition Enhancing Effects of Exclusive Dealing Contracts
Linda Gratz, Markus Reisinger, International Journal of Industrial Organization, Vol. 31, Issue 5, Pages 429-437, September 20132012
Price Discrimination and Fairness Concerns
We analyze the profitability of third degree price discrimination under consideration of consumers’ fairness concerns within an experiment and explain the results within a theoretical framework. We find that with an increase in the price differential negative reciprocal reactions by disadvantaged consumers become stronger compared to positive reciprocal reactions by advantaged consumers. Consequently, the profit maximizing price differential lies below the one predicted to be optimal by standard theory. Further, profitability increases when consumers who are regarded as poorer are charged lower prices compared to when the wealth of the different consumer groups is unknown.
Economic Analysis of Pay-for-delay Settlements and Their Legal Ruling
In this paper, we ask whether courts should continue to rule settlements in the context of pharmaceutical claims per se legal, when these settlements comprise payments from originator to generic companies, potentially delaying generic entry compared to the underlying litigations. We find that the rule of per se legality induces maximal collusion among settling companies and therefore yields the lowest consumer welfare compared to alternative rules. While under the rule of per se illegality settling companies are entirely prevented from colluding, under the rule of reason they collude to a limited degree when antitrust enforcement is subject to error. Contrary to intuition, limited collusion can be welfare enhancing as it increases settling parties’ profits, and thus fosters generic entry. Alternative incentive devices to foster generic entry, for instance, the provision of an exclusivity right to first generic entrants, as implemented within the Hatch-Waxman Act of 1984, are shown to be ineffective.
Dominant and Efficient – On the Relevance of Efficiencies in Abuse of Dominance Cases
Hans W. Friederiszick, Linda Gratz, ESMT Working Paper No. WP-12-01.The European Commission’s policy on the relevance of efficiency considerations in abuse of dominance cases (Article 102 TFEU) has not been resolved satisfactorily. In an attempt to give guidance on this matter, we address the topic from two different angles: First, we review EC soft law provisions and recent decisions. Based on this review, we find that efficiency defences play a limited role under the current practice. They are of relevance in the growing number of IT related cases but only in these. Second, we explore – in the example of low price strategies – business practitioners’ views on the relevance of the pro and anti-competitive motives. Based on a survey of EMBA students, we find that low price strategies are indeed frequently used. The motives are diverse however, often pro-competitive and in line with antitrust compliance, i.e. low price strategies are rarely considered advisable for leading firms. Finally, policy conclusions are drawn.
Presentations
- 2024
Presentation on the topic „Internet Infrastructure Funding – An Analysis of Bilateral Bargaining Power” at the annual Hal White Antitrust Conference
2023
Presentation on the topic „Neues zum SIEC-Test: Der EuGH zum Fall CK Telecoms” at the Arbeitstagung Studienvereinigung Kartellrecht
Presentation on the topic „Does inflation weaken competition?” at the annual international Pros and Cons conference
Here is the link to the Pros and Cons conference on Fighting Inflation with Competition Policy.
2017
Presentation on the methodology of ex post evaluations of state aid at the expert discussion: „EU-Beihilfenpolitik – Analyse der Auswirkung des neuen Beihilferechts unter besonderer Berücksichtigung des Instruments der ex post Evaluierung
Linda Gratz, May 20172016
Presentation on rebates at the “New Frontiers of Antitrust“ conference in Paris
Hans W. Friederiszick discussed together with Andreas Mundt, Trevor Soames and Nicolas Petit recent developments regarding enforcement practice on rebates in Europe. Hans presentation (jointly produced with Linda Gratz , E.CA Economics) specifically explored the merits of the As Efficient Competitor Test.
Go to more information about the conference
2014
Is economic analysis in 102 cases still relevant post Intel?
On the Competition Enhancing Effects of Exclusive Dealing Contracts
Patents: Can Antitrust Authorities Contribute to Fixing the Dysfunctional Patent System?
2013
Dominant and Efficient – On the Relevance of Efficiencies in Abuse of Dominance Cases
The European Commission’s policy on the relevance of efficiency considerations in abuse of dominance cases (Article 102 TFEU) has not been resolved satisfactorily. In an attempt to give guidance on this matter, we address the topic from two different angles: First, we review EC soft law provisions and recent decisions. Based on this review, we find that efficiency defences play a limited role under the current practice. They are of relevance in the growing number of IT related cases but only in these. Second, we explore – in the example of low price strategies – business practitioners’ views on the relevance of the pro and anti-competitive motives. Based on a survey of EMBA students, we find that low price strategies are indeed frequently used. The motives are diverse however, often pro-competitive and in line with antitrust compliance, i.e. low price strategies are rarely considered advisable for leading firms. Finally, policy conclusions are drawn.
2012
Dominant and Efficient: On the Relevance of Efficiencies in Article 102 TFEU Cases
Thomas Hildebrand
Director
Thomas Hildebrand
Director
Dr Thomas Hildebrand is a Director in the Berlin office. He has more than 10 years of experience supporting clients across all fields of competition economics, with a particular focus on cartel and information exchange cases (e.g. trucks, air cargo, synthetic rubber), merger proceedings (e.g. RHI/Magnesita, HeidelbergCement/Italcementi, Immonet/Immowelt) and abuse of dominance cases. Thanks to his empirically informed background, Thomas has particular expertise in applying statistical and econometric methods to competition economics cases. His industry experience spans a broad variety of fields including grocery retailing, fast-moving consumer goods, chemicals, cement, refractories, automotive parts, freight forwarding, print/television/online advertising and digital markets. Thomas has worked on cases brought before the European Commission, the German Bundeskartellamt and the Swiss Competition Commission (WEKO) as well as on private litigation matters.
Thomas has been recognized as a Global Elite Thought Leader under 45 in Who’s Who Legal’s Competition Economist Future Leaders category. Prior to joining E.CA Economics, Thomas worked as a post-doctoral researcher at the “Governance and the Efficiency of Economic Systems” Collaborative Research Centre/Transregio 15 programme at Humboldt University of Berlin and as a guest researcher at Deutsche Bundesbank.
Thomas holds a Doctoral degree in Economics from Humboldt University as well as a double Diploma degree in Economics from Humboldt University and the École Nationale de la Statistique et de l’Administration Économique (ENSAE) Paris. In his research Thomas has focussed on two-sided markets and financial economics. His work has been published in leading international peer-reviewed journals such as Management Science, Economics Letters and Research Policy.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- Dr. rer. pol. in Economics, Humboldt University of Berlin
- Diplom-Volkswirt in Economics, Humboldt University of Berlin
- Statisticien Economiste, ENSAE Paris
Publications
- 2024
Empirie schlägt Vermutung: Vorschläge für eine bessere Nutzung ökonomischer Gutachten in Kartellschadensersatzverfahren
2016
Adverse incentives in crowdfunding
2014
The distribution of partnership returns: Evidence from co-authorships in economics journals
2012
Estimating network effects in two-sided markets without data on prices and quantities
2010
Online social networks: why we disclose
Thomas Hildebrand, Hanna Krasnova, Sarah Spiekermann and Ksenia Koroleva, Journal of Information Technology 25:109-125, June 2010
Presentations
- 2012
Multi-Channel Demand in Two-Sided Markets: Evidence from the Magazines Industry
Thomas Hildebrand participated in the Bates White 9th Annual Antitrust Conference on 7th June 2012 in Washington.
Flight to Where? Evidence from Bank Investments During the Financial Crisis
Thomas Hildebrand, Jörg Rocholl, Alexander Schulz , 7th FIRS Annual Conference, Minneapolis, June 2012Thomas Hildebrand, Jörg Rocholl and Alexander Schulz presented at the 7th FIRS Annual Conference, Minneapolis, 1-4 June 2012
2011
Multi-Channel Demand in Two-Sided Markets: Evidence from the Magazines Industry
Thomas Hildebrand spoke at the 38th EARIE Annual Conference, Stockholm on 1-3 September 2011. The conference was hosted by the Royal Institute of Technology (KTH) & Stockholm School of Economics (SSE). It was chaired by Martin Peitz
Skin in the Game: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , European Finance Association (EFA), Stockholm, August 2011Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 38th Annual Meeting of the European Finance Association, organised by Stockholm School of Economics (SSE), the Institute for Financial Research (SIFR) and Fisher College of Business, The Ohio State University, was held at Clarion Sign Hotel, Stockholm, Sweden on 17-20 August 2011.
Skin in the Game: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , American Economic Association (AEA), Denver, January 2011Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the AEA 2011 Annual Meeting, Denver, 7-9 January 2011
2010
Skin in the Game: The Incentive Structure in Online Social Lending
Thomas Hildebrand, Jörg Rocholl, Manju Puri , Financial Management Association (FMA), New York, with Manju Puri and Jörg RochollOctober 2010, October 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the Financial Management Association (FMA) in New York in October 2010
Skin in the Game in the Originate-to-Distribute Model: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , Deutsche Gesellschaft für Finanzwirtschaft (DGF), Hamburg, October 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 17th Annual Meeting of the Deutsche Gesellschaft für Finanzwirtschaft (DGF) in Hamburg on 8-9 October 2010
Skin in the Game: The Incentive Structure in Online Social Lending
Thomas Hildebrand, Jörg Rocholl, Manju Puri , 45th Annual Conference of the Western Finance Association (WFA), Victoria, June 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 45th Annual Conference on 20-23 June 2010.
Estimating Network Effects in Two-Sided Markets: A Semi-Structural Approach
Thomas Hildebrand presented at the conference “Platform Markets: Regulation and Competition Policy” from 31 May to 2 June 2010 in Mannheim
2009
Estimating Network Effects in Two-Sided Markets: A Semi-Structural Approach
Thomas Hildebrand presented at the 36th EARIE Annual Conference – Ljubljana, Slovenia on 3-5 September 2009
Investigating the Value of Privacy in Online Social Networks: Conjoint Analysis
Thomas Hildebrand, Hanna Krasnova, Oliver Günther , 30th International Conference on Information Systems 2009 (ICIS 2009), Phoenix, AZ, USA,Thomas Hildebrand, Hanna Krasnova and Oliver Günther presented at the 30th International Conference on Information Systems 2009 (ICIS 2009) held in Phoenix, Arizona, USA on 15-18 December 2009
Simone Kohnz
Director
Simone Kohnz
Director
Dr Simone Kohnz is a Director at E.CA Economics in Berlin. She has 15 years of experience in economic consulting advising clients from a wide range of industries, in all fields of competition policy and across a number of jurisdictions including Germany, the European Union, the UK, and Austria. In recent years, she has specialised in the quantification of damages in private litigation cases. She has advised clients and drafted expert witness reports for European-wide, German and Austrian cartel and information exchange cases in a variety of industries including trucks, payment cards, sugar, bumpers and turntable ladders, district heating, fast-moving consumer goods and de-icing salt. Simone regularly testifies as an economic expert in private litigation court cases.
Furthermore, Simone has considerable experience in mergers; she has managed the economic analysis in a large number of proceedings; including mergers in the fast-moving consumer goods industry (e.g. Rewe/Adeg), automotive supply (e.g. Knorr/Bremse), construction (e.g. H+H/Xella) and cement (e.g. Strabag/Lafarge). Furthermore, she has worked on a number of regulatory cases in telecommunication, transport and pharmaceuticals sectors.
Prior to joining E.CA, Simone was an analyst at the European competition practice at NERA Economic Consulting in London. Simone holds a Doctorate in bargaining theory from the University of Munich.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- Dr. rer. oec. (economics), Ludwig-Maximilian-Universität Munich
- Diplom Volkswirtin Universität Mannheim
Publications
- 2018
GCR Insight – Handbook of Competition Economics 2019 – Germany overview
Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche, GCR Insight, 2018 Law Business Research Ltd, ISBN:978-78915-106-0, October 2018Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche contributed to the Competition Economics Handbook 2019 – Germany overview – which is now live on GCR Insight.
GCR Insight – Handbook of Competition Economics 2020 – Germany overview
Hans W. Friederiszick, Simone Kohnz, and Rainer Nitsche contributed to the Competition Economics Handbook 2020 – Germany overview
Presentations
- 2017
CMS-Roadshow Kartellrecht 2017
Simone Kohnz gave a presentation at CMS-Roadshow Kartellrecht 2017 in Stuttgart on the methods of cartel damage estimation. She discussed different approaches to estimate cartel overcharges and the impact of market conditions and data availability on the choice of the appropriate method. She also presented factors that influence the likelihood and extend of pass on of overcharges to consumers.
2011
Pros and cons of net neutrality – Assessment of a sustainable Internet business model for the near future
Hans W. Friederiszick, Simone Kohnz, Presentation at the ETNO Meeting, at the Deutsche Telekom representation, Berlin, March 2011
Alena Kozakova
Director
Alena Kozakova
Director
Alena Kozakova is a Director in the London office. Her focus is competition and economic regulation economics established in public authorities and consulting.
Alena has extensive experience in applied microeconomics, particularly industrial organisation. She has seen a broad variety of cases across industries, with particular emphasis on retail, telecoms, utilities and platform competition. Furthermore, Alena’s focus is on applying competition economics in industries with no history in market organisation such as healthcare, public service broadcasting and education, and on applying regulatory microeconomics and finance.
Prior to joining E.CA, Alena was the Chief Economist of the UK water regulator, Ofwat. She also worked for both predecessors of the UK’s Competition and Markets Authority (Office of Fair Trading and the Competition Commission) and for DG Competition within the European Commission. Formerly, Alena also worked for Frontier Economics.
Alena holds a master’s degree in economics from the University of Economics in Prague and from City University in London. Moreover, she holds degrees from the Institute d’études politiques de Paris and the École nationale d’administration.
In addition to her role at E.CA, Alena is a non-executive director on the board of the UK’s Gas and Electricity Markets Authority.
A detailed CV can be downloaded here.
Contact
Education
- Master’s degree in economics, University of Economics in Prague and from City University in London
- Degrees in economics, Institut d’études politiques de Paris and École nationale d’administration.
Publications
- 2023
Review of the CMA’s Approach to Vertical Mergers
2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
Anselm Mattes
Director
Anselm Mattes
Director
Dr Anselm Mattes is a Director at E.CA Economics in Berlin. He has more than 15 years of experience in economic consulting with a focus on competition economics and empirical analyses. Since 2006, Anselm has provided economic advice to a large range of clients, including the European Commission, several national ministries and authorities as well as many private clients, ranging from start-ups to global players.
In his client-focused work as an economic consultant, Anselm has gained experience in all fields of competition policy. He provides economic advice in merger cases at the national and European level (including feasibility studies in the pre-notification phase). Moreover, he is regularly working on damage assessment related to cartel and information exchange cases, both on the claimant and defendant side. Anselm also supports private clients in abuse of dominance cases, state aid proceedings and regulatory matters.
In addition to his work for private clients, Anselm supports the European Commission with ex-post evaluations and impact assessment studies on various competition policy issues. In this context, he received an Antitrust Writing Award 2024 in the category of business articles on cross-border issues for a Policy Brief on State aid in the rail freight sector.
Anselm’s industry experience comprises a broad variety of sectors, inter alia trucks, automotive supply, steel, nuclear and renewable energies, power cables, forestry industry, music and other copyright industries, public broadcasting, tourism, telecommunication and rail freight.
Before joining E.CA, Anselm worked as a Manager and Senior Researcher at DIW Econ, the consulting firm of the German Institute for Economic Research (DIW Berlin). Anselm holds a doctoral degree in economics from the University of Tübingen. In his academic research, Anselm has focused on international economics and foreign direct investment (FDI).
His work has been published in international peer-reviewed journals, such as the Canadian Journal of Economics and Applied Economics Quarterly, as well as in policy-oriented journals like DIW Weekly Report, Wirtschaftsdienst and ifo Schnelldienst.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- Dr. rer. pol. in Economics, University of Tübingen
- Diploma in Economics (Diplom-Ökonom), University of Hohenheim
Publications
- 2024
Empirie schlägt Vermutung: Vorschläge für eine bessere Nutzung ökonomischer Gutachten in Kartellschadensersatzverfahren
2023
Policy briefing: E.CA supports DG Competition with revision of Railway Guidelines
Impact assessment support study for the review of the Community guidelines on State aid for railway undertakings
Elżbieta Głowicka, , Malte Jeschonneck, Anselm Mattes, Luca Rancati, Francesca Urzi, Margaux Gabriel, Gabriele Dente, Salvatore Nava, Elena Salomone, David Deller, Sean F. Ennis, Bryn Enstone, Ana Alvarez Vidal, Nour el-Houda Bey, Michael Hofmann, Robert Klotz, European Commission, March 20232021
Support study for the revision of the EU Guidelines on State aid for environmental protection and energy applicable in 2014-2020
Elżbieta Głowicka, Hans W. Friederiszick, Anselm Mattes, Jan Christopher Rönn, Arvid Viaene and others, DIW Berlin, SheppardMullin, University of East Anglia, European Commission 2021, January 20212020
Italy Must Foster High Growth Industries
Anselm Mattes, Stefan Gebauer, Alexander S. Kritikos, Alexander Kriwoluzky, Malte Rieth, DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 9(7/8/9), pages 65-74, 2019, February 20202019
Italien braucht neue Impulse für Wachstumsbranchen
Anselm Mattes, Stefan Gebauer, Alexander S. Kritikos, Alexander Kriwoluzky, Malte Rieth, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 86(9), pages 111-121, 2019, October 20192018
The Greek Private Sector Remains Full of Untapped Potential
Anselm Mattes, Alexander S. Kritikos, Lars Handrich, DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 8(29), pages 263-272, 2018, July 2018Gigabitzugang in Deutschland: im internationalen Vergleich rückständig, aber auch wenig nachgefragt
Anselm Mattes, Yann Girard & Anselm Mattes & Claus Michelsen, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 85(25), pages 531-542, 2018, June 2018Potentiale der griechischen Privatwirtschaft liegen weiterhin brach
Anselm Mattes, Alexander S. Kritikos, Lars Handrich, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 85(29), pages 641-651, 2018, January 2018Deutschland muss seine Digitalstrategie überdenken, um den Anschluss nicht zu verlieren: Editorial
Anselm Mattes, Tomaso Duso, Pio Baake, Yann Girard, Claus Michelsen, Mattia Nardotto, Jo Seldeslachts, Slobodan Sudaric, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 85(25), pages 529-530, 2018, January 20182017
In Deutschland sinkt die Zahl der Betriebsgründungen weiterhin, nicht aber in Berlin
Anselm Mattes, Alexander S. Kritikos, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 84(26), pages 539-547, 2017, July 2017Es gibt weiterhin ökonomische Argumente für einen öffentlichen Rundfunk [Economic Reasons for Public Broadcasting Persist in the Digital Age
Rafael Aigner, Anselm Mattes, Ferdinand Pavel, Wirtschaftsdienst, Springer;German National Library of Economics, vol. 97(1), pages 45-52, January 20172016
Die Wertschöpfungsabgabe als alternatives Instrument zur Finanzierung der sozialen Sicherung aus österreichischer Perspektive
Anselm Mattes, Margit Schratzenstaller, Stefan Bach, Michael Arnold, WIFO Monatsberichte (monthly reports), WIFO, vol. 89(10), pages 747-759, October 2016Normale Arbeitsverhältnisse sind weiterhin die Regel
Anselm Mattes, Michael Arnold, Gert G. Wagner, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 83(19), pages 419-427, 2016, May 2016Typical Employment Subject to Mandatory Social Security Contributions Remains the Norm
Anselm Mattes, Michael Arnold, Gert G. Wagner, DIW Economic Bulletin, DIW Berlin, German Institute for Economic Research, vol. 6(19), pages 215-223., May 20162015
Die ostdeutsche Wirtschaft ist zu kleinteilig strukturiert
Anselm Mattes, Michael Arnold, Alexander Eickelpasch, Michael Fritsch, Alexander Schiersch, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 82(35), pages 764-772, 2015, August 2015Copyright and Innovation: Fit for Digitization?
Anselm Mattes, Christian Handke, Yann Girard, DIW Economic Bulletin, DIW Berlin, German Institute for Economic Research, vol. 5(16), pages 223-230, 2015, April 2015Urheberrechtsschutz und Innovation: fit für die Digitalisierung?
Anselm Mattes, Christian Handke, Yann Girard, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 82(16), pages 343-351, 2015, April 20152014
Regionale Innovationssysteme im Vergleich
Anselm Mattes, Michael Arnold, Philipp Sandner, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 81(5), pages 79-87, 2014, January 20142012
Grüner Strom: Verbraucher sind bereit, für Investitionen in erneuerbare Energien zu zahlen
Anselm Mattes, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 79(7), pages 2-9, 2012, February 2012Disentangling barriers to internationalization
Anselm Mattes, Christian Arndt, Claudia M. Buch, Canadian Journal of Economics, Canadian Economics Association, vol. 45(1), pages 41-63, February 2012Flächendeckender Breitbandausbau in Deutschland: mehr Nutzen als Kosten
Anselm Mattes, Ferdinand Pavel, Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 81(1), pages 41-56, 2012, January 20122011
The Bazaar Economy Hypothesis Revisited. A New Trade-Related Measure for Germany’s International Openness
Anselm Mattes, Ansgar Belke, Lars Wang, Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 57(1), pages 67-87, 2011, January 20112010
Foreign Takeovers: No Negative Effects on Employment and Productivity
Anselm Mattes, Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 6(32), pages 239-244, 2010, December 2010Cloud-Computing: großes Wachstumspotenzial
Anselm Mattes, Ferdinand Pavel, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 77(48), pages 10-16, 2010, December 2010Ausländische Unternehmensübernahmen: keine negativen Folgen für Beschäftigung und Produktivität
Anselm Mattes, DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 77(42), pages 2-7, 2010, October 20102009
Determinanten und Effekte von Direktinvestitionen im Ausland am Beispiel baden-württembergischer Betriebe
Anselm Mattes, Christian Arndt, AStA Wirtschafts- und Sozialstatistisches Archiv, Springer; Deutsche Statistische Gesellschaft - German Statistical Society, vol. 3(3), pages 187-208, November 20092007
Die neuen Mitglieder: Motor oder Bremse der europäischen Integration?
Anselm Mattes, Wilhelm Kohler, Christian Arndt, Michael Knogler, Fidelis Lankes, Jarko Fidmuc, ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 60(14), pages 03-20, July 2007Gigabit Access: Germany Lags behind in International Comparison but Demand Is Low
Anselm Mattes, Yann Girard, Claus Michelsen, DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 8(25/26), pages 219-229, 2018
Rainer Nitsche
Director, E.CA and Research Fellow, ESMT Berlin
Rainer Nitsche
Director, E.CA and Research Fellow, ESMT Berlin
Dr Nitsche is a director of E.CA Economics and an expert in providing economic advice in competition and litigation cases before the European Commission and national competition authorities in Germany, Austria, the UK and the Netherlands. He has more than 20 years of experience in supporting clients in all fields of competition policy enforcement, including cartel and abuse of a dominant position cases as well as merger control (Phase I and Phase II investigations). In addition, he has advised undertakings on a variety of regulation issues in network industries and several European national governments and State aid recipients in State aid control proceedings. He is named a Global Elite Thought Leader in GCR’s Who’s Who Competition report. Additionally, Dr Nitsche is ranked #1 Competition Economist in Germany by the renowned legal publication JUVE in 2023.
Besides renowned law firms, his clients have also included the European Commission and British, Dutch and German competition and regulatory authorities. Since 2006, he has regularly testified as an expert on merger and litigation cases for the Austrian Cartel Court. Dr Nitsche has conducted overcharge and damage assessments for courts, plaintiffs and defendants in more than twenty cartel matters (e.g. automotive glass, acoustic and thermal isolation products, bearings, beer, chemicals (BBT), cold cuts, de-icing salt, district heating, elevators and escalators, financial products, firefighting vehicles, grocery retail, liquefied petroleum gas, rails, sugar, trucks) and he has advised and testified in more than forty merger proceedings (e.g. Novomatic/Casino Austria, Heidelberg Cement/Italcementi, Telefónica/E-Plus, H3G/O2, Liberty Global/Kabel BW, Strabag/Lafarge, Vattenfall/Nuon, REWE/Adeg, T-Mobile/tele.ring). In addition, he has advised on a number of abuse of dominant position cases in the telecommunications and other network industries.
Prior to his work for E.CA, Dr Nitsche was Vice President in the Competition Practice and Director of the Brussels office of CRA International. Prior to his five years in Brussels, he was an economic consultant at Price Waterhouse and Arthur Andersen in London and Berlin.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-geth.png)
Contact
Education
- Dr. rer. oec. in Economics, Humboldt University of Berlin
- MSc in Economics, London School of Economics
- Diplom Volkswirt, Freie Universität Berlin
Publications
- 2021
When Do Markets Tip? An Overview and Some Insights for Policy
Find out in the latest research by Özlem Bedre Defolie, associate professor at ESMT Berlin, and Rainer Nitsche, director at E.CA Economics and research fellow at ESMT Berlin, published by the Journal of European Competition Law and Practice.
Competition authorities are increasingly concerned that their tools are not fit to deal with markets with digital multi-sided platforms (MSPs). These markets have a tendency to ‘tip’ in the sense that one MSP takes it all or dominates the market by far. Policy makers, including the EC, are currently considering various initiatives to prevent tipping in markets with MSPs. At least in Europe, general search markets have tipped for Google, and many social media markets have tipped for Facebook. Several regional platform markets, however, did not tip (e.g. real estate, music, video-on-demand streaming). This raises some interesting questions: Why don’t we have tipping in these markets? Might they tip? Should competition authorities and regulators follow a particular strategy to prevent tipping in markets at risk of tipping?
2018
GCR Insight – Handbook of Competition Economics 2019 – Germany overview
Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche, GCR Insight, 2018 Law Business Research Ltd, ISBN:978-78915-106-0, October 2018Hans W. Friederiszick, Simone Kohnz, Rainer Nitsche contributed to the Competition Economics Handbook 2019 – Germany overview – which is now live on GCR Insight.
Recent economic applications in EU merger control: UPP and beyond
More than a decade since the introduction of the ‘significant impediment to effective competition’ test (SIEC test) in the EU, refined economic methods have become increasingly relevant to the evaluation of mergers. This paper addresses three of the more important assessment methods in this context: the UPP (upward pricing pressure) method, the analysis of ‘natural experiments’ and the analysis of bidding data.
2016
Multiple rounds in a chain store game
Rainer Nitsche, Michael Melles, Springer, Theory and Decision, doi: 10.1007/s11238-016-9551-2, November 20162015
Upward Pricing Pressure Analysis: Critical Issues in Recent Applications
Rainer Nitsche, Lars Wiethaus, Journal of European Competition Law & Practice 6, 48-53., January 20152014
A price concentration study on European mobile telecom markets
Margin squeeze : An overview of EU and national case law
Market Definition of Broadband Internet in Slovakia: are Fixed and Mobile in the Relevant Market?
Rainer Nitsche, Frank Verboven, Lukasz Grzybowski, Lars Wiethaus, Information Economics and Policy, 28, 39-56, January 20142010
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 20102006
T-Mobile/tele. ring: analysing mavericks and efficiencies in "the first gap case".
Wettbewerbsökonomische Analyse der Auswirkungen von Fusionen
Rainer Nitsche, Recht und Ökonomie im europäischen Wettbewerbsrecht, 53-70. In der Schriftenreihe Europäisches Recht, Politik und Wirtschaft; Bd.318, January 20062004
Study on the Port of Rotterdam – Market Definition and Market Power
Rainer Nitsche, CRA-Study for the Dutch competition authority (Nederlandse Mededingingsautoriteit, NMa), December 2004Innovation in the pharmaceutical sector
2003
Comments to the Draft Notice on Horizontal Merger Control.
2002
Are Anti-Predation Rules in the Public Interest?
Rainer Nitsche, CRA Competition Policy Discussion Paper 5, Charles River Associates Limited, September 20022000
Incentive to Grow : Multimarket Firms and Predation.
Defining product markets for shopping centers – Thoughts on methodological choices
Wege zur effizienten Organisation des öffentlichen Personennahverkehrs. Optionen für die kommunalen gebietskörperschaften
Rainer Nitsche, Price Waterhouse Brochure.The Handbook of Competition Economics 2012 – Germany (country chapter)
Hans W. Friederiszick, Rainer Nitsche, Dennis Beling, In: C. Campbell (Ed.), The Handbook of Competition Economics 2012. Nottinghamshire: Encompass Print Solutions.An extract from The Handbook of Competition Economics 2012- a Global Competition Review special report – www.GlobalCompetitionReview.com.
GCR Insight – Handbook of Competition Economics 2020 – Germany overview
Hans W. Friederiszick, Simone Kohnz, and Rainer Nitsche contributed to the Competition Economics Handbook 2020 – Germany overview
The Handbook of Competition Economics 2014 – Germany (country chapter)
“An extract from The Handbook of Competition Economics 2014 – www.GlobalCompetitionReview.com”
Competitive Impacts of Information Exchange
Rainer Nitsche, Paper written on behalf of the European Liner Affairs Association in the context of the reform of Regulation 4056/86.Access regulation and investment in next generation networks – A ranking of regulatory regimes
Access Regulation and Investment in the Next Generation Networks: A Ranking of Regulatory Regimes
Comments on State Aid Reform – some Implications of an Effects-based Approach.
Rainer Nitsche, European State Aid Law Quarterly, 5: 23-34.Comments on state aid reform: Some implications of an Effects-based approach.
Rainer Nitsche, In Conferences on New Political Economy, Vol. 24 : The More Economic Approach to European Competition Law, ed. D. Schmidtchen, M. Albert and Stefan Voigt, 321-344. Frankfurt a. M. : Mohr Siebeck.Competition Law in Regulated Industries: On the Case and Scope for Intervention
Rainer Nitsche, Lars Wiethaus, Journal of European Competition Law & Practice 2012, doi: 10.1093/jeclap/lpr087.Defining Product Markets for Retail Rental Space: Thoughts on Methodological Choices
The Electricity Wholesale Sector: Market Integration and Competition
Does Europe need subsidized competition for achieving the goal of rapid deployment of broadband networks?
Rainer Nitsche, Hans W. Friederiszick, Lars-Hendrik Röller, Comments on the draft Community Guidelines for the application of State aid rules in relation to rapid deployment of broadband networks. Submitted to the EC Commission.Economics on the Advance—European Reform and German Competition Policy (Die ökonomische Analyse auf dem Vormarsch – Europäische Reform und deutsche Wettbewerbspolitik)
Großhandelsmärkte für Strom – Marktintegration und Wettbewerb aus deutscher Perspektive
Rainer Nitsche, Lars Wiethaus, Lars-Hendrik Röller, A. Ockenfels, Energiewirtschaftliche Tagesfragen, 3-2010.Liberalisierung von Netzökonomien. Herausforderung für die Wettbewerbspolitik (Liberalizing Network Industries. A Challenge for Competition Policy)
Rainer Nitsche, In Die Soziale Marktwirtschaft in der neuen Weltwirtschaft (WZB-Jahrbuch 2001), ed. L.-H Röller and C. Wey, 249-290. Fulda: Fuldaer Verlagsagentur.Liberalization and Privatization of London Transport
Rainer Nitsche, DVG Schriftenreihe, B213.Nach der Liberalisierung. Eine Herausforderung für die Wettbewerbspolitik (Competition after Liberalization. A challenge for competition policy).
Rainer Nitsche, WZB-Mitteilungen, 92, June 2001:12-15.NGA: Access Regulation, Investment, and Welfare. A Model Based Comparative Analysis
On the Effectiveness of Anti-Predation Rules
Rainer Nitsche, WZB Discussion Paper FS IV 02-12, 2002.Owner Effect and Sunk Investments
Rainer Nitsche, Ulrich Soltész, Europäische Zeitschrift für Wirtschaftsrecht, issue 11/2012: 408-413.Screening and Merger Activity
Rainer Nitsche, Albert Banal-Estanol, Jo Seldeslachts, Journal of Industrial Economics 58 (4):794-817.Study on Methods to Analyse the Effects of State Aid on Competition
Rainer Nitsche, European Economy No 244.
Presentations
- 2016
Presentation at ERA Summer Course on European Competition Law
Rainer Nitsche presented at the ERA Summer Course on European Competition Law in Trier. He talked about “Competition policy and economics; an introduction” & “Defining the relevant market: methodology and challenges”.
Presentation at GCR Live 5th Annual Telecoms, Media & Technology
Rainer Nitsche Presented at GCR Live 5th Annual Telecoms, Media & Technology in London. He talked about “Mobile to mobile mergers: New paradigm or market-specific issues?”
2014
Mobile telephony mergers: Telefonica/E-plus
Cartel Presumptions, Quantification and Pass-on – a Claimant’s View.
2013
Regional Aid – Observations on Welfare and Entrepreneurs
Workshop on EU Cartel Litigation The Economists’ role
Rainer Nitsche, Hans W. Friederiszick, Antitrust and Competition Law Compliance, Amsterdam, September 2013A panel discussion on the competition law of joint ventures.
Comments on Sector Inquiries and Joint Ventures
2012
Materielle Fusionskontrolle : Leitfaden und 8. GWB-Novelle
Efficiencies as a Meaningful Defence in Merger Control
Rainer Nitsche, Presentation at the Interdisciplinary Centre for Competition Law and Policy (ICC) and Crowell and Moring LPP Annual Conference, Brussels, June 2012LGI’s Acquisition of KBW – Effects on Competition and Bargaining Power
2011
Strabag/Lafarge – critical customer approach and other methods
2010
Magna/Karmann: Collective Dominance and Treatment of Customer Statements as Evidence
Conglomerate Merger Control and Predation
2009
DF Profitability for Investors and Access Seekers in Different Regulatory Environments and Investment Settings
Assessing Risk Sharing Proposals
Private Investor Test – Economic Methods to Determine the Behaviour of Private Investors in the Counterfactual
Role of Economic Analyses in Competition Law
Quantification of Damages in Private Enforcement Actions
Rainer Nitsche, Seminar der Konrad Adenauer Stiftung : Europaische Wettbewerbspolitik am Beispiel des Europaischen Kartellrechts, Brussels, May 20092008
Managing Economic Analysis in Competition Law
2007
Regulating Dominant Firms – Predation Strategies in the Transport Sector
Ex ante Regulation – The Mobile Telephony Case
What is Driving Utility Industry Consolidation?
Rainer Nitsche, The Institute of Economic Affairs' 6th Annual Conference "Energy 2007 : Challenges across Europe", Brussels, October 2007The “More Economic Approach” in EU Competition Policy: 5 Hypotheses.
International Comparison of Mobile Termination Rates
Rainer Nitsche, Bundesnetzagentur : "Prasentation Enteltgenehmigungsantrag von T-Mobile", Bonn, October 2007Benefit and Harm of Information Exchange
2006
Comments on State Aid Reform – Some Implications of an Effects-based Approach
Rainer Nitsche, 25th Conference on Political Economy: "Frontiers of EC Antitrust Enforcement: The More Economic Approach", Saarbrücken, October 2006The Most Appropriate Economic Tool for a Better Targeted State Aid Policy
Rainer Nitsche, Massimo Merola, Leigh Hancher , GCLC Conference "Economic Analysis of State Aid Rules - Contributions and Limits", Brussels, September 2006Strategic Thoughts on the Regulation of Mobile Termination Rates
Rainer Nitsche, Symposium Humboldt Universität Berlin: "Weichenstellung in der Mobilfunkregulierung", Berlin, September 2006The Economic Assessment of State Aid – How it can be done
Selectivity, Economic Advantage, Distortion of Competition and Effect of Trade
A Refined Economic Approach in European State Aid Control – The Art of Assessing Market Failures
Rainer Nitsche, 4th Annual Experts' Forum on New Developments in European State Aid Control, Brussels, March 20062005
State Aid Reform – Implications and Open Issues
Rainer Nitsche, Best Friends Law Firm Network, 21 February 2006, Brussels and 3rd Annual CRA Conference, Brussels, December 2005The Economic Approach regarding Innovation Aid
Rainer Nitsche, Berliner Gesprächskreis 7tes Treffen Aktionsplan "Staatliche Beihilfen", der ökonomische Ansatz; Innovation und FuE-Beihilfen, Berlin, December 2005The Effect of State Aid on Competition
Examples for Economic Analyses in Merger Control
Rainer Nitsche, Kolloquium "Recht und Ökonomie im Europäischen Wirtschaftsrecht", Freiburg, July 2005Innovation Crisis? The Role of Incentives to Innovate.
The Role of Economic Analysis in Applying Art. 81
Rainer Nitsche, ERA (Europäische Rechtsakademie) Tagung "Der Einfluss des europäischen Wettbewerbsrechts auf die nationale Richter- und Anwaltspraxis", Vienna, March 20052004
Innovation in the Pharmaceutical Industry.
2003
State Aid – The Effect on Trade
Rainer Nitsche, ERA (Europäische Rechtsakademie) 7. Forum zum europäischen Beihilfenrecht, Trier, November 20032002
On the Effectiveness of Anti-Predation Rules
Rainer Nitsche, IUI Stockholm Research Institute of Industrial Economics, 10 December 2002, Stockholm / EEA (European Economic Association) Congress 2002, 22-24 August 2002, Venice / WZB Economic Seminar Series, Berlin, February 20022000
Liberalisation in a Social Market Economy: Challenges for Competition Policy
Discussion of “Why Mergers Reduce Profits and Raise Share Prices – A Thery of Preemptive Mergers”, by Sven-Olof Fridolfsson and Johan Stennek
Incentives to Grow: Multimarket Firms and Predation
Rainer Nitsche, 27th EARIE (European Association for Research in Industrial Economics) Annual Conference, Lausanne, September 20001999
Experiences with the Tendering Regime of London Buses
1997
Liberalisation and Privatisation of London Transport
Rainer Nitsche, 30. Verkehrswissenschaftliches Seminar der Gesellschaft für Verkehrswissenschaft und Regionalpolitik an der Universität Freiburg (Prof. Dr. Knieps) in Verbindung mit der Verkehrswissenschaftlichen Gesellschaft, Hinterzarten, October 1997Comment to the Draft Postal Act of the German Government
Rainer Nitsche, Öffentlichen Anhörung zum Postgesetzentwurf der Bundesregierung, Bonn, September 1997Liberalisation of Local Bus Services in London
Rainer Nitsche, Gastvortrag bei Prof. Dr. Jürgen Müller, Fachlochschule für Wirtschaft Berlin, June 19971996
Market Structure in a Liberalised Postal Market
Rainer Nitsche, Gastvortrag im Seminar "Wettbewerb und Regulierung in Europa", Prof. Dr. Tomann, FU-Berlin, Berlin, 22 January 1999, 9 May 1997 , November 1996Electrified? Liberalisation of European Electricity Markets
Rainer Nitsche, Jean Monet Seminar im Auftrag von Professor Hubert für das wirtschaftswissenschaftliche Hauptstudium and der Freien Universität, Wintersemester 1999, Berlin,Mergers & Acquisitions Lecture
Rainer Nitsche, Seminar im Auftrag von Professor Röller für das wirtschaftswissenschaftliche Hauptstudium an der Humboldt Universität Berlin, Wintersemester 2000, Berlin.,
Lars-Hendrik Röller
Director, E.CA and Professor of Economics, ESMT Berlin
Lars-Hendrik Röller
Director, E.CA and Professor of Economics, ESMT Berlin
Prof. Lars-Hendrik Röller, PhD, is a Director in the Berlin office. Prior to re-joining E.CA in February 2022, Lars-Hendrik Röller served as the chief economic advisor to the former German Federal Chancellor, Angela Merkel, and as the first chief economist with DG Competition at the European Commission. He is a proven expert in industrial economics and has unique expertise in providing economic advice in competition cases. His key topics of interest include the digital, energy, health and transportation markets. Lars-Hendrik Röller is also a professor of economics at the ESMT Berlin.
In July 2011, Lars-Hendrik Röller took up the position as chief economic advisor to former German Federal Chancellor Merkel which he held until December 2021. From 2006 until July 2011, Lars-Hendrik Röller was president of ESMT. In 2007, he co-founded E.CA Economics with Hans W. Friederiszick and Rainer Nitsche. As a senior advisor, Lars-Hendrik Röller advised numerous international companies, governments and international organizations on mergers, cartels, abuse and state aid cases and worked on economic assessments in the fields of antitrust and regulation.
From September 2003 to September 2006, Lars-Hendrik Röller was Chief Economist at DG Competition, European Commission. During that time, he was involved in all phase-two merger cases and many first phase merger cases in front of the European Commission. While Chief Economist, he was also involved in many other high profile antitrust and state aid cases. In addition, as Chief Economist, Professor Roller was actively engaged in a number of policy initiatives including the horizontal merger guidelines revision, the Article 82 2005 staff discussion paper, and the introduction of the new economic approach to state aid control.
Lars-Hendrik Röller’s academic career began in 1983 as a research assistant at the department of economics at the University of Pennsylvania. He then taught as a professor at INSEAD in France and also became director of the research unit for competitiveness and industrial change at the WZB Berlin Social Science Center. In 1995, he was appointed professor of industrial economics at Humboldt University in Berlin.
Lars-Hendrik Röller holds a PhD in economics from the University of Pennsylvania. He holds a master of arts in economics and a master of science in artificial intelligence, both from the University of Pennsylvania, and a bachelor of science in computer science from Texas A&M University.
Lars-Hendrik Röller has served as chairman of the German Economic Association and president of the European Association for Research in Industrial Economics (EARIE). He is a fellow of the European Economic Association and a member of the Berlin-Brandenburg Academy of Sciences.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- PhD in Economics, University of Pennsylvania, Philadelphia, Pennsylvania, U.S.A., Essays in the Theory and Application of Contestable Markets
- MA in Economics, University of Pennsylvania, Philadelphia, Pennsylvania, U.S.A.
- MSc in Computer and Information Science (Artificial Intelligence), University of Pennsylvania, Philadelphia, Pennsylvania, U.S.A.
- BS in Computer Science, Magna Cum Laude, Texas A&M University, College Station, Texas, U.S.A.
Alexis Walckiers
Director
Alexis Walckiers
Director
Dr Alexis Walckiers is a Director in the Brussels office. Before joining E.CA Economics, he was chief economist of the Belgian Competition Authority (BCA) between 2010 and 2020. As chief economist, he sat on the board of the BCA and advised both investigation teams and Competition Colleges on the use of economic tools in competition cases. He has therefore advised on many cases in a range of industries. Alexis also represented the BCA in international fora and served as the president of the Association of Competition Economics. He holds degrees in philosophy and physics, as well as a PhD in economics from the Université Libre de Bruxelles, where he teaches microeconomics to economics and business students. He has published several papers in competition and economic journals, including the Journal of the European Economic Association. Before joining the BCA, he advised the minister of economic affairs on competition issues and has worked for another economics consultancy.
Alexis advises clients in French, Dutch and English across a wide range of competition related issues, including merger filings, abuses of dominance, cartels, damages and state aid. He has worked on cases in many different industries such as retail, telecoms, ports, car distribution, logistics and postal services.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Education
- PhD in Economics, Université Libre de Bruxelles
- MA in Economics, Université Libre de Bruxelles
Publications
- 2020
Abuse of Economic Dependence
Alexis Walckiers, Revue de Droit Commercial Belge - Tijdschrift voor Belgisch Handelsrecht - RDC - TBH, September 2020Director Alexis Walckiers’ foreword on ABUSE OF ECONOMIC DEPENDENCE published in the Revue de Droit Commercial Belge – Tijdschrift voor Belgisch Handelsrecht – RDC – TBH
The Belgian Competition Authority has a new competence on abuse of economic dependence since August 2020. How will the new law be applied in practice? Is the way ahead likely to be bumpy?
Alexis raises a number of economic issues in his foreword for the Revue de Droit Commercial Belge – Tijdschrift voor Belgisch Handelsrecht and reflects on how this new law could be implemented in practice, highlighting that the BCA and the Courts will have to further clarify what companies can and cannot do.
In de greep van investeringsfondsen
2019
Use of impact studies in merger control
Alexis Walckiers, Liber Amicorum Jarig Van Sinderen, Autoriteit Consument en Markt: 21-23, April 20192017
The economics of hub-and-spoke collusion, Vertikale Wettbewerbsbeschränkungen
A theory of hub-and-spoke collusion
Alexis Walckiers, N. Sahuguet, International Journal of Industrial Organization, vol. 53, p. 353-370, January 2017[previously circulated as: Selling to a cartel of retailers: a model of hub-and-spoke collusion, CEPR Discussion Paper 9385, 2013]
2016
Towards guidance on vertical restraints to iron out perceived enforcement discrepancies across Europe?
Alexis Walckiers, N. Sahuguet, J. Steenbergen, T. Vergé, Journal of European Competition Law and Practice, 7(4): 274-279., April 20162015
Le fonctionnement des marchés: un screening horizontal
Alexis Walckiers, L. Tsyganok, E. Van Hirtum, P. Van Herreweghe, 21ème Congrès des économistes de langue française, La croissance: Réalités and perspectives, E. De Keuleneer and al. (eds), Belgium, Université ouverte, November 20152014
Hub-and-spoke conspiracies: the vertical expression of a horizontal desire?
Alexis Walckiers, N. Sahuguet, Journal of European Competition Law and Practice, 5 (10): 711-716, December 2014Elargissement du contrôle des concentrations aux participations minoritaires: quelques avantages et inconvénients
Alexis Walckiers, Liber Amicorum Jacques Steenbergen. D. Arts, W. Devroe, R. Foqué, K. Marchand, I. Verougstraete (eds.), Mundi and Europae Civis, November 2014Rôle du Chief economist
Alexis Walckiers, G. Jans, Tijdschrift voor Belgische Mededinging – Revue de la Concurrence Belge, 1: 17-22., January 20142013
Editorial – From the prosecution of infringements to a systematic analysis of markets
De opvolging van marktwerking, een zinvol economisch instrument?
2011
Competition and price regulation of services in Belgium
Alexis Walckiers, J. Steenbergen, Reflets and Perspectives de la Vie Economique, 2011/3, Tome L: 53-71., October 20112010
Mergers: Can competition authorities agree to disagree?
L’analyse économique dans le cadre d’enquêtes de concurrence
Alexis Walckiers, Tijdschrift voor Belgische Mededinging – Revue de la Concurrence Belge, 2: 28-31, April 20102008
Multidimensional Contracts with Task-Specific Productivities: An Application to Universities
[republished in Higher education in a globalized world: governance, competition and performance. M. Dewatripont, F. Thys-Clément and L. Wilkin (eds), Bruxelles: Editions de l’Université de Bruxelles, 2008.]
Edition scientifique et pouvoir de marché
Alexis Walckiers, M. Dewatripont, V. Ginsburgh, P. Legros, La publication scientifique : analyses et perspectives. Schöpfel J. (éd.), Paris : Hermès Science – Lavoisier, November 2008A Microeconomic perspective on the production of Science and Higher Education
What means rich in publishing? Competition between for-profit and not-for-profit publishers from an economist’s point of view
2007
Pricing of Journals and Market Power
Alexis Walckiers, M. Dewatripont, V. Ginsburgh, P. Legros, Journal of the European Economic Association, 5(2–3): 400–410, May 2007[previously circulated as CORE Discussion Paper 2007/22.]
2006
The Economic and Technical Evolution of the Scientific Publication Markets in Europe
Alexis Walckiers, M. Dewatripont, V. Ginsburgh, P. Legros for ECARES, J.-P. Devroey, M. Dujardin, F. Vandooren, P. Dubois, J. Foncel, M. Ivaldi, M.-D. Heusse, Report for DG Research, European Commission, 1-112., January 2006
Pauline Affeldt
Manager
Pauline Affeldt
Manager
Dr Pauline Affeldt is a Manager in the Berlin office. She joined E.CA Economics in February 2022. Pauline previously worked as a post-doctoral researcher at the German Institute for Economic Research (DIW Berlin) and the Technische Universität Berlin (TU Berlin). Prior to pursuing her doctoral degree, Pauline already worked at E.CA Economics from 2012 to 2014, advising clients in numerous industries, in all fields of competition policy, before the European Commission or national competition authorities, including Germany and Austria.
Pauline has experience advising clients in major merger proceedings (e.g. Telefónica/E-Plus), she has conducted overcharge and damage assessments in private litigation cases following cartel investigations and worked on abuse of dominance projects. Her experience covers a variety of industries including the energy, automotive, pharmaceutical, media, retail and telecommunications sectors.
Pauline holds a doctoral degree in economics from TU Berlin and is a graduate of the Berlin Doctoral Program in Economics & Management Science. She holds a master’s degree in economics from Tilburg University as well as a bachelor’s degree in business administration from both the University of Applied Sciences in Bremen and Euromed Marseille Ecole de Management (now KEDGE Business School). In her research, Pauline has focused on the empirical assessment of competition policy, in particular merger control. Her work has been published in leading journals including the Economic Journal, the International Journal of Industrial Organization, the Journal of Competition Law and Economics, and the Journal of European Competition Law & Practice.
Contact
Education
- Dr. rer. oec. (economics), Technische Universität Berlin
- Sc. Economics, Tilburg University
- B.A. Business Administration, University of Applied Science Bremen/Euromed Marseille
Publications
- 2024
Economic trade-offs in rail transport
Pauline Affeldt, Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, Francesca Urzi, E.CA Economics, August 20242022
Using Compensating Efficiencies to Assess EU Merger Policy
2021
Competitors’ Reactions to Big Tech Acquisitions: Evidence from Mobile Apps
Assessing EU Merger Control through Compensating Efficiencies
Pauline Affeldt, Tomaso Duso, Klaus Gugler, Joanna Piechucka, CEPR Discussion Papers, DP 16705, November 2021Estimating Demand with Multi-Homing in Two-Sided Markets
Big Tech Acquisitions – Towards Empirical Evidence
Pauline Affeldt, Reinhold Kesler, Journal of European Competition Law & Practice, Volume 12, Issue 6, Pages 471-478, June 2021Concentration in the EU: Where It is Increasing and Why
Marktkonzentrationstrend steigt in Dienstleistungsmärkten deutlich
Pauline Affeldt, Tomaso Duso, Klaus Gugler, Joanna Piechucka, DIW Wochenbericht, DIW Berlin, German Institue for Economic Research, Volume 88, Issue 20, Pages 339-347, May 202125 Years of European Merger Control
Pauline Affeldt, Tomaso Duso, Florian Szücs, International Journal of Industrial Organization, Volume 76, 102720, May 2021Market Concentration in Europe: Evidence from Antitrust Markets
Pauline Affeldt, Tomaso Duso, Klaus Gugler, Joanna Piechucka, CEPR Discussion Papers, DP 15699, January 20212020
You Are What You Pay – Personal Profiling with Alternative Payment Data and the Data Protection Law
Pauline Affeldt, Ulrich Krüger, Vierteljahreshefte zur Wirtschaftsforschung, Volume 89, Issue 4, Pages 73-88, May 20202019
EU Merger Policy Predictability Using Random Forests
2018
EU Merger Control Database: 1990-2014
2014
A price concentration study on European mobile telecom markets
Market Definition in Two-Sided Markets: Theory and Practice
Pauline Affeldt, Lapo Filistrucchi, Damien Geradin, Eric van Damme, Journal of Competition Law and Economics, Volume 10, Issue 2, Pages 293-339, March 20142013
Upward Pricing Pressure in Two-Sided Markets
Pauline Affeldt, Lapo Filistrucchi, Tobias J. Klein, The Economic Journal, Volume 123, Issue 572, Pages 505-523, May 2013
Presentations
- 2024
The Economic Impact of the DMA: Evidence from Big Tech Acquisitions in the App Industry
Rafael Aigner
Associate Principal
Rafael Aigner
Associate Principal
Dr Rafael Aigner is an Associate Principal at E.CA Economics located in Berlin. Rafael provides clients with advice ranging across the field of competition economics. His case experience includes merger proceedings before European and national authorities, litigation proceedings, abuse of dominance and state aid. Among other mandates, he was a testifying expert in an arbitration proceeding in front of the German Arbitration Institute (DIS).
In 2022, Rafael co-authored E.CA’s ex-post evaluation of vertical mergers commissioned by the CMA. On behalf of the European Commission, he worked on a report on the state of competition in the EU, published in 2024. He is also a co-author of a chapter on the economic analysis in European competition law in a legal commentary (NOMOS Kommentar Europäisches Wettbewerbsrecht, 3rd edition). Rafael’s research has been published in academic and applied journals such as Wirtschaftsdienst, Transportation Research, and FinanzArchiv.
Before joining E.CA in April 2017, Rafael worked as a consultant at DIW Econ, where he advised public and corporate clients on a variety of economic matters. From 2012 to 2014, he served as a research fellow at the Max Planck Institute for Research on Collective Goods.
Rafael holds a doctoral degree in Economics from the University of Bonn and is a graduate of the European Doctoral Programme in Quantitative Economics. His thesis was supervised by Martin Hellwig, a former head of the German Monopolies Commission.
![](https://www.e-ca.com/wp-content/uploads/2018/05/2024-wwl-competition-recommended.png)
Contact
Education
- Dr. rer. pol. Economics, University of Bonn
- MSc in Economics, University of Bonn
- BA in Economics, Göttingen University
- Graduate of the European Doctoral Program in Quantitative Economics
- Research exchange student at the London School of Economics
Publications
- 2024
The role of economic analyses in the enforcement of European antitrust law
Rafael Aigner, Hans W. Friederiszick, Published by Prof Helmuth Schröter, Robert Klotz and Bernhard von Wendland at Nomos Verlagsgesellschaft mbH & Co. KG, European Competition Law, third edition, March 2024Our director Hans W. Friederiszick and associate principal Rafael Aigner contributed the chapter “The role of economic analyses in the enforcement of European antitrust law”.
This reference work for competition law covers the entire field of antitrust and merger law with all procedural rules, enriched with commentaries and interpretations by relevant experts.
2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
2018
Schweizer Volksentscheid: Öffentlicher Rundfunk überholt?
Rafael Aigner, Heidelberg : Springer - Wirtschaftsdienst. - ISSN 1613-978X. - Vol. 98.2018, 3, p. 156-157, March 20182017
Chancen der Digitalisierung auf Märkten für urbane Mobilität: Das Beispiel Uber
Rafael Aigner, J. Haucap, F. Pavel, M. Arnold, M. Hottenrott & C. Kehder, In List Forum für Wirtschafts-und Finanzpolitik (Vol. 43, No. 2, pp. 139-183). Springer Berlin Heidelberg, June 2017The Fehmarn Belt Duopoly – Can the Ferry Compete with a Tunnel?
Rafael Aigner, Katharina Weber, Transportation Research Part A: Policy and Practice, 100, 1-15, May 2017The Fehmarn Belt is a strait between Denmark and Germany, currently served by a ferry operator. We analyse competition between the ferry service and a planned tunnel, the Fehmarn Belt Fixed Link. We develop a differentiated duopoly model to address two questions: 1. Will the tunnel induce the ferry to exit the market once it operates? 2. Will the tunnel’s toll revenue suffice to cover its cost? Using real-world data and traffic forecasts, we show that it should not be taken for granted that the ferry will exit the market, and that if the ferry competes, the tunnel project will make a loss.
Digitale Infrastruktur: Glasfaser dringend erforderlich!
Rafael Aigner, Lars Handrich, Heidelberg : Springer - Wirtschaftsdienst. - ISSN 1613-978X. - Vol. 97.2017, 3, p. 157-158, March 2017Es gibt weiterhin ökonomische Argumente für einen öffentlichen Rundfunk
Rafael Aigner, Anselm Mattes Ferdinand Pavel, Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik. - Heidelberg : Springer, ISSN 1613-978X, ZDB-ID 2079503-8. - Vol. 97.2017, 1, p. 45-52, January 2017Recent economic literature criticises the size and mandate of public broadcasting in Germany. Technological progress has changed the methods of producing and distributing broadcasting content. Traditional broadcasting and print media have converged in a digital environment. Some of the classical arguments for publicly funded broadcasting have become invalid. This article argues that the converging media markets are nonetheless characterised by ongoing market failures, mostly because of positive external effects created by public value content. Markets will underprovide such content, which is why they should be publicly funded. We discuss the scope and form of public broadcasting and conclude that there are still economic reasons for dedicated public service broadcasters to exist.
Es gibt weiterhin ökonomische Argumente für einen öffentlichen Rundfunk [Economic Reasons for Public Broadcasting Persist in the Digital Age
Rafael Aigner, Anselm Mattes, Ferdinand Pavel, Wirtschaftsdienst, Springer;German National Library of Economics, vol. 97(1), pages 45-52, January 20172015
Boring Banks and Taxes
How do taxes in the financial sector affect economic outcomes? We analyse a simple general equilibrium model with financial intermediation. We formalise a trade-off between tax policies that burden the owners of banks and tax policies that burden households. We also study the implications of the financial sector’s exemption from value added taxation (VAT). Main results are that an increased taxation of the banks’ profits goes together with a larger financial sector, as measured by the volume of loans and the employment in banking. We also show that the general presumption that the VAT-exemption is beneficial for banks is unjustified.
2014
Environmental Taxation and Redistribution Concerns
How is the optimal level of Pigouvian taxation influenced by distributive concerns? With second-best instruments, a higher level of income redistribution calls for a lower level of Pigouvian taxation. More redistribution implies higher distortions from income taxation. Pigouvian tax revenues become more valuable and the optimal level of environmental taxation decreases. With first-best instruments, however, the relation between levels of redistribution and Pigouvian taxation is reversed. So second-best Pigouvian taxes are very different from their first-best counterpart – despite apparently identical first order conditions.
Josef Aumüller
Economist
Josef Aumüller
Economist
Josef Aumüller is an Economist in the Munich office. He joined E.CA Economics in May 2023 and holds a Master’s degree in Economics from LMU Munich. As part of his graduate degree, he spent an academic year at the University of California, Berkeley. During his studies, he specialized in public economics and microeconomics.
His prior work experiences comprise research assistant positions at the University of Munich, the ifo Institute, as well as the Max-Planck-Institute for Innovation and Competition. Before joining as an Economist, he completed internships in competition economics with E.CA and NERA Economic Consulting.
Contact
Education
- Graduate Exchange Student at Ph.D. program in Economics, UC Berkeley
- M.Sc. Economics, Ludwig-Maximilians-University Munich (LMU)
- B.Sc. Economics, Ludwig-Maximilians-University Munich (LMU)
Albert Banal-Estanol
Professor, Universitat Pompeu Fabra
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.
Contact
Education
- Phd in Economics, Universitat Autònoma de Barcelona
- MSc in Mathematics, Université Paul Sabatier, Toulouse
- BSc in Mathematics, Universitat Autònoma de Barcelona
Publications
- 2018
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 2018Common 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 20182017
Common ownership of German companies
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 20172016
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 20162013
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 20132011
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 2011Merger Failures
Albert Banal-Estanol, Jo Seldeslachts (Amsterdam), Journal of Economics & Management Strategy, Vol. 20 (2), pp. 589-624, July 20112010
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 2010Minority Interests in Competitors
Albert Banal-Estanol, DotEcon Ltd (London), Jo Seldeslachts, Office of Fair Trading (London), March 20102009
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 20092008
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 2008Endogenous 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 20082007
Bank Mergers and Diversification: Implications for Competition Policy
Albert Banal-Estanol, Marco Ottaviani (Bocconi), European Financial Management, Vol.13 (3), pp. 578–590, June 2007Information-Sharing Implications of Horizontal Mergers
Albert Banal-Estanol, International Journal of Industrial Organization, Vol. 25, pp. 31– 49, February 20072006
Mergers with Product Market Risk
Albert Banal-Estanol, Marco Ottaviani (Bocconi), Journal of Economics & Management Strategy, Vol. 15 (3), pp. 577-608, October 2006Market 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
Brecht Boone
Associate Principal
Brecht Boone
Associate Principal
Brecht Boone has been an Associate Principal in the Brussels office since August 2017. Amongst others, Brecht has worked on several merger proceedings before the European Commission and on several cartel cases. Since October 2023, he is also Professor at the College of Europe in Bruges where he teaches a course on quantitative techniques.
Brecht holds a Ph.D. in Economics from Ghent University where he specialised in the theoretical foundations of labour markets, the evaluation of labour market policies, and the impact of expectation formation on the macroeconomy. He obtained his Master in Economics at Ghent University after completing several advanced courses in microeconomics and econometrics. Brecht has published in the Journal of Economic Behavior & Organization and the Scandinavian Journal of Economics.
Contact
Education
- PhD fellow of the Research Foundation Flanders, Ghent University
- BSc and MSc in economics from Ghent University
Publications
- 2020
14th Edition of Focus on Competition
Gregor Langus and our manager Brecht Boone contributed to the 14th edition of FOCUS ON COMPETITION, published by Karanovic & Partners. It features insightful articles on various hot topics from some of the most prominent figures in the field of competition law.
Gregor and Brecht explain how irreversibility of investment combined with market power can result in a delay in investments in the current climate of high uncertainty due to Covid-19. Building on these insights, the authors discuss the implications for the design of state aid and other fiscal policies.
Özlem Bedre-Defolie
Associate Professor of Economics, ESMT Berlin
Özlem Bedre-Defolie
Associate Professor of Economics, ESMT Berlin
Dr Özlem Bedre-Defolie is an Associate Professor (with tenure) of economics. Özlem joined ESMT Berlin in January 2010 as an assistant professor. She received her PhD in economics (with highest distinction) from the Toulouse School of Economics (TSE) in France and also holds an MSc in Economic Theory and Econometrics from TSE. Before moving to Toulouse, Özlem obtained a BA in Economics and a BSc in Mathematics from Boğaziçi University in Istanbul, Turkey.
Before joining ESMT she spent a year in Paris as a postdoctoral research fellow at Ecole Polytechnique, Business Chair. During the first two years of her appointment at ESMT she worked as a part-time visiting scholar in the research department of the Financial Stability Wing of Norges Bank (the central bank of Norway).
Özlem’s research interests are mainly theoretical and applied microeconomics, and industrial organization. In particular, her research focusses on contracts and pricing strategies of platforms, estimation of end user demands in the payment card industry, implications of long-term contracts, multiproduct firm pricing and implications of buyer power in vertical relationships. Her research has been published in leading economics, marketing and industrial organization journals, including American Economic Review, Journal of Economic Theory, American Economic Journal: Microeconomics, Marketing Science, International Journal of Industrial Organization.
Özlem teaches two full-time MBA courses regularly: “Quantitative Methods” and “Competitive and Dynamic Pricing”. She also teaches industrial organization/management science II at the Berlin Doctoral Program in Economics and Management Science (BDPEMS).
Contact
Education
- PhD in Economics, Toulouse School of Economics
- European Diploma, Toulouse School of Economics
- MSc in Economic Theory and Econometrics, Toulouse School of Economics
- BA in Economics, Boğaziçi University, Turkey
- BSc in Mathematics, Boğaziçi University, Turkey
Publications
- 2021
When Do Markets Tip? An Overview and Some Insights for Policy
Find out in the latest research by Özlem Bedre Defolie, associate professor at ESMT Berlin, and Rainer Nitsche, director at E.CA Economics and research fellow at ESMT Berlin, published by the Journal of European Competition Law and Practice.
Competition authorities are increasingly concerned that their tools are not fit to deal with markets with digital multi-sided platforms (MSPs). These markets have a tendency to ‘tip’ in the sense that one MSP takes it all or dominates the market by far. Policy makers, including the EC, are currently considering various initiatives to prevent tipping in markets with MSPs. At least in Europe, general search markets have tipped for Google, and many social media markets have tipped for Facebook. Several regional platform markets, however, did not tip (e.g. real estate, music, video-on-demand streaming). This raises some interesting questions: Why don’t we have tipping in these markets? Might they tip? Should competition authorities and regulators follow a particular strategy to prevent tipping in markets at risk of tipping?
2015
Economics of Payment Cards
Linda Gratz, Özlem Bedre-Defolie, KONKURRENSVERKETS WORKING PAPER SERIES IN LAW AND ECONOMICS, WORKING PAPER 2015:1, January 20152013
Pricing payment cards
Özlem Bedre-Defolie, Emilio Calvano, American Economic Journal: Microeconomics 5(3): 206–231, August 2013Payment card networks, such as Visa, require merchants’ banks to pay substantial “interchange” fees to cardholders’ banks, on a per transaction basis. This paper shows that a network’s
profi t-maximizing fee induces an ine fficient price structure, over-subsidizing card usage and over-taxing merchants. 2012
Vertical coordination through renegotiation
This paper analyzes the strategic use of bilateral supply contracts in sequential negotiations between one manufacturer and two differentiated retailers.
Eleonora Cavalera
Senior Business Administrator
Eleonora Cavalera
Senior Business Administrator
Eleonora Cavalera joined E.CA Economics in May 2016 as a Senior Business Administrator and is responsible for the Office management of the Brussels office. She obtained a Bachelor’s degree in business administration in Brussels in 1986.
Before joining E.CA, Eleonora worked as an office manager for various international companies where she was responsible of the smooth running of the offices. Over the years, she has also gained experience in organizing events and in soft and hard HR.
Contact
Education
- Bachelor’s degree in Business administration
Alessia Ceccarelli
Senior Business Administrator
Alessia Ceccarelli
Senior Business Administrator
Alessia Ceccarelli joined E.CA Economics in November 2021 and is a Senior Business Administrator in the London office. She has studied English, French and Japanese at the University of Florence and has completed her degree with a two-year exchange program in Nagoya, Japan, in 2013.
Alessia has worked in Italy, Japan and the UK in a variety of fields including IP rights, finance and investment. Her experience has mainly focused on translation, interpreting, working as an executive assistant and other marketing and administrative roles.
Contact
Education
- Bachelor’s Degree in Languages and Intercultural Studies, University of Florence
James Coates
Economist
James Coates
Economist
James Coates is an Economist in the Brussels Office. He joined E.CA Economics in September 2022. Prior to joining E.CA James completed an internship with Frontier Economics where he worked mostly in the energy sector.
James holds a master’s degree in economics from the Catholic University in Leuven in Belgium and a bachelor’s degree in economics from the University of Manchester in the UK.
Contact
Education
- MSc in economics, KU Leuven
- BSc in economics, University of Manchester
Kai Dahlke
Marketing Manager
Kai Dahlke
Marketing Manager
Kai Dahlke joined our Berlin office as a Marketing Manager in October 2023. He holds a degree in sports science with a strong focus on communication from Cologne Sports University.
After completing his traineeship at a Bonn-based business publisher and a three-year stint at the Cologne-based DuMont Media Group, he moved to Berlin. Since then, Kai has been working in marketing and corporate communications for various companies in the IT, healthcare and finance industries.
Contact
Education
- Diploma in sports science with focus on communication
Juri Demuth
Associate Principal
Juri Demuth
Associate Principal
Dr Juri Demuth is an Associate Principal in the Berlin office. Since joining E.CA Economics first in September 2013, Juri has worked on projects for clients in numerous industries, in all fields of competition policy, before the European Commission or national competition authorities, including Germany and Austria.
Juri has extensive experience advising clients in major merger proceedings (e.g. Telefónica/E-Plus, Lafarge/Holcim, RHI/Magnesita). He has conducted overcharge and damage assessments in private litigation cases following cartel investigations. Furthermore, he has worked on abuse of dominance projects. His experience covers a variety of industries including the telecommunications, refractory, cement, payment card, air cargo, forestry, waste management and fast-moving consumer goods (e.g. meat, flour) sectors.
Juri holds a Doctoral degree in Economics from Freie Universität Berlin and is a graduate of the Berlin Doctoral Program in Economics & Management Science. In his thesis, Juri applied microeconomic theory to questions in the fields of industrial organisation and regulation. Juri additionally obtained a diploma degree in Physics from Freie Universität Berlin.
Contact
Education
- Doctoral degree in Economics, Freie Universität Berlin
- Diploma degree in Physics (Physics major, Economics minor), Freie Universität Berlin
Publications
- 2022
Reverse Privatization as a Reaction to the Competitive Environment: Evidence from Solid Waste Collection in Germany
Hans W. Friederiszick, Juri Demuth, S. Reinhold, Review of Industrial Organization 60, 217–261, October 20222018
Reverse privatization as a reaction to the competitive environment: Evidence from solid waste collection in Germany
Hans W. Friederiszick, Juri Demuth, Steffen Reinhold, ESMT Working Paper 18-02, SSRN, RePEc, EconStor, April 2018Hans W. Friederiszick, Juri Demuth and Steffen Reinhold have published a working paper exploring the motives for reverse privatisation of the provision of solid waste collection services by German municipalities. Using a unique panel data set the authors show that municipalities do not only react to cost advantages of private companies but also to the competitive environment.
2016
Remunicipalization and Competition in the Waste management Industry
2014
Signalling Rivalry and Quality Uncertainty in a Duopoly
Juri Demuth, Helmut Bester, Journal of Industry, Competition and Trade, DOI 10.1007/s10842-014-0178-0, June 2014
Nadine Fabritz
Manager
Nadine Fabritz
Manager
Dr Nadine Fabritz is a Manager at the Berlin office. She joined E.CA Economics in July 2021. Nadine previously worked at NERA Economic Consulting where she advised clients on a variety of competition cases. From 2010 until 2015, she served as an economist at the Ifo Institute for Economic Research in the Department for Human Capital and Innovation.
Over the course of her career, Nadine has conducted overcharge, damage and passing-on assessments in private litigation cases following cartel investigations. She has provided clients with advice in abuse of dominance cases as well as merger proceedings before the European Commission and the German Bundeskartellamt. Her experience covers a variety of industries including automotive, oilfield services, pharmaceutical, gravure printing, telecommunications and fast-moving consumer goods (e.g. coffee, sugar, or drugstore items).
Nadine holds a doctoral degree in economics from the University of Munich (LMU). In her thesis, she applied econometric methods to analyse determinants of ICT infrastructure as well as their effects on the economy. She also holds a master’s degree in international economics from the University of Göttingen as well as a bachelor’s degree in business management from the Royal Agricultural University in the UK.
Contact
Education
- oec. publ. (economics), Ludwig-Maximilian-Universität, München
- Master in international economics (MA), University of Göttingen
- Bachelor in business management (BSc), Royal Agricultural University, UK
Publications
- 2022
GCR Enforcer Hub – Germany: economist perspective
Benedikt Flügel
Manager
Benedikt Flügel
Manager
Benedikt Flügel is a Manager in the Berlin office. Since joining E.CA Economics in October 2018, Benedikt has advised a range of clients in various fields of competition economics. He has worked on damage and pass-on assessments, analysis in information-exchange and merger cases.
Benedikt holds a master’s degree in economics from Humboldt University of Berlin. His major fields of research were in applied microeconomics and econometrics. Besides his studies, he worked as a tutor for three different chairs at Humboldt University, teaching mathematics, statistics and microeconomics. His educational path also includes an exchange semester at Uppsala University, Sweden. Prior to joining E.CA, Benedikt worked as an Analyst for a private health insurance.
Contact
Phone: +49 30 166359314
Education
- Master’s degree in economics, Humboldt University of Berlin
Niklas Gebhard
Senior Economist
Niklas Gebhard
Senior Economist
Niklas Gebhard is a Senior Economist in the Brussels office. He joined E.CA Economics in January 2020. Niklas holds a Master’s degree in economics as well as two Bachelor’s degrees in economics and political science from the Ludwig-Maximilians-University (LMU) Munich. As part of his undergraduate degree, Niklas also spent one year at the Institut d’Etudes Politiques (IEP) de Toulouse. During his studies, he specialised in public economics and microeconometrics.
His prior work experiences comprise student research assistant positions at LMU Munich and the Max-Planck-Institute for Public Finance. Niklas further held internship positions in financial risk analysis at the Kreditanstalt für Wiederaufbau (KfW) and a company that specialises in credit risk methodology.
Contact
Education
- MSc Economics, Ludwig-Maximilians-University (LMU) Munich
- BSc Economics, Ludwig-Maximilians-University (LMU) Munich
- BA Political Science, Ludwig-Maximilians-University (LMU) Munich
Marcus Gerlach
Software Engineer
Marcus Gerlach
Software Engineer
Marcus Gerlach is a Software Engineer in the Berlin office. He joined E.CA Economics in May 2013. Previously, he worked as a software-engineering project manager and as a software consultant.
Since 2007, Marcus has gained extensive experience as a software engineer, project manager, consultant, database architect, system/database/network administrator and game developer.
He holds a Bachelor’s degree in Computer Science and Media from the Beuth University of Applied Sciences with a focus on software engineering. In his research, he works on the development of software for a variety of platforms including PCs, smartphones and web servers.
Contact
Education
- BSc in Computer Science and Media, Beuth University of Applied Sciences Berlin
Shahram Ghiassi
IT Administrator
Shahram Ghiassi
IT Administrator
Shahram B.Ghiassi joined the Berlin office of E.CA Economics in June 2019 as an IT Administrator. He holds a Bachelor’s degree in Computer Networks Technology Engineering from University of Applied Science & Technology, Tehran, Iran.
He is an experienced IT Admin with a demonstrated history of working in consulting and administration of IT systems.
Contact
Education
- BSc in Computer Networks Technology Engineering from University of Applied Science & Technology, Tehran, Iran
Lukas Gieser
Economist
Lukas Gieser
Economist
Lukas Gieser is an Economist in the Munich office. He joined E.CA Economics in May of 2023. Lukas holds a master’s degree in economics from the University of Freiburg, and a bachelor’s degree in economics and political science from the University of Heidelberg. He spent significant portions of both his undergraduate and graduate studies abroad, at the University of North Carolina at Chapel Hill and the Autonomous University of Madrid.
Before joining E.CA as an Economist, Lukas interned at the E.CA Brussels office and at BASF. He also worked as a teaching assistant for an undergraduate statistics and data analysis class. His research interests are economic policy and political economy, as well as topics relating to transportation and mobility.
Contact
Education
- M.Sc. in Economics, University of Freiburg
- B.Sc. in Economics and Political Science, Heidelberg University
Paul Heidhues
Affiliate Professor of Economics, ESMT Berlin
Paul Heidhues
Affiliate Professor of Economics, ESMT Berlin
Paul worked on numerous topics in Industrial Organization and Competition Policy such as input-market bargaining power, merger control, and collusion. Recently, most of his research focuses on the functioning of markets when consumers are partly driven by psychological factors – such as social preferences, loss aversion, time-inconsistency, or naivete – that the classical consumer model abstracts from. He has written on how firms optimally price products and design credit contracts in response to consumers’ psychological tendencies, and investigated the implications thereof for consumer-protection regulation. Furthermore, he studied when profitable consumer exploitation can arise in seemingly competitive markets, and the implications of profitable consumer deception for firms’ innovation incentives. He also reexamined the implications of consumer mistakes for price discrimination, privacy regulation, and the welfare implications of firms collecting more and more data on consumers. Much of his ongoing and planned future research similarly focuses on consumer-protection regulation and imperfect competition driven through or interacting with consumer mistakes. In addition, he studies how individuals with a mis-specified model of the world learn from the feedback they receive.
Paul is a member of the Academic Panel of the Competition and Markets Authority of the UK, a member of the Arbeitskreis Kartellrecht of the German Antitrust Authority (Bundeskartellamt), a Research Fellow of the CEPR Programme in Industrial Organization, a Research Fellow of the CESifo Network in Behavioral Economics, and an elected member of the Industrieökonomischer Ausschuss as well as the Theoretischer Ausschuss of the Verein für Socialpolitik. Currently, he serves as an elected member on the Executive Committee of the European Association for Research in Industrial Economics and as the Vize-Chairperson of the Industrieökonomischer Ausschuss of the Verein für Socialpolitik. His work appeared in leading academic journals such as the American Economic Review, Econometrica, the Quarterly Journal of Economics, and the Review of Economic Studies.
Contact
Education
- Habilitation (Humboldt University of Berlin)
- PhD (Rice University)
- MA (Rice University)
Publications
- 2020
Loyalty Penalty Report
Paul Heidhues, Michael Rauber, Johannes Johnen, Competition and Markets Authority (CMA), December 2020Professors Paul Heidhues and Johannes Johnen with support of Dr Michael Rauber of E.CA Economics carried out a research report for the Competition and Markets Authority (CMA). Now the CMA has published the report that reviews the academic literature on the economic theory of the loyalty penalty. This includes both the classical theory such as switching and search costs, and behavioural theories explaining phenomena like consumer inertia.
The study aims to understand how pricing patterns can arise under differing assumptions, whether they may be considered pro- or anticompetitive and what welfare implications may arise. Moreover, the study sets out the lessons it has to offer thereby considering the pros and cons of a wide range of possible policy options ranging from direct price regulation, to intermediaries such as price comparison websites and encouraging consumers to switch.
2010
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
Julius Hohberg
Senior Economist
Julius Hohberg
Senior Economist
Julius Hohberg is a Senior Economist in the Berlin office. He joined E.CA Economics in November 2021. Julius holds a Master’s and a Bachelor’s degree in economics from the University of Mannheim. During his studies, he specialised in empirical industrial organisation and applied microeconometrics. As part of his undergraduate degree, Julius spent a semester at the Bocconi University in Milan, Italy.
Prior to joining E.CA as an Economist, Julius also completed an internship with E.CA. Moreover, he interned at the Bundesbank and held a research assistant position at the Leibniz Centre for European Economic Research (ZEW).
Contact
Education
- Master’s and a Bachelor’s degree in economics, University of Mannheim
Ariane Jaspert
Senior Business Administrator
Ariane Jaspert
Senior Business Administrator
Ariane Jaspert joined the Berlin office of E.CA Economics in April 2018 as a Senior Business Administrator. She has a Diploma in Interpretation and Translation (French/Italian). Before joining E.CA, she worked as an interpreter and translator and also as a manager for an international event management company. There Ariane was responsible for delegate registration and hotel bookings for large medical conferences worldwide.
Contact
Education
- Diploma in Interpretation and Translation (French/Italian)
Malte Jeschonneck
Senior Economist
Malte Jeschonneck
Senior Economist
Malte Jeschonneck is an Senior Economist in the Brussels office. He joined E.CA in September 2021. Malte holds a bachelor’s and a master’s degree in economics from the Heinrich Heine University Düsseldorf. During his studies, he specialised in econometrics and empirical industrial organisation. For his master thesis, he conducted a series of simulations to study the capability of reinforcement learning algorithms to forge collusive schemes.
After completing an internship at E.CA in 2020, he briefly worked as a scientific assistant at the Düsseldorf Institute for Competition Economics (DICE).
Contact
Education
- M.Sc. in Economics, Heinrich Heine University Düsseldorf
- B.Sc. in Economics, Heinrich Heine University Düsseldorf
Publications
- 2023
Impact assessment support study for the review of the Community guidelines on State aid for railway undertakings
Elżbieta Głowicka, , Malte Jeschonneck, Anselm Mattes, Luca Rancati, Francesca Urzi, Margaux Gabriel, Gabriele Dente, Salvatore Nava, Elena Salomone, David Deller, Sean F. Ennis, Bryn Enstone, Ana Alvarez Vidal, Nour el-Houda Bey, Michael Hofmann, Robert Klotz, European Commission, March 20232021
Collusion among Autonomous Pricing Algorithms Utilizing Function Approximation Methods
Astrid Jung
Senior Consultant
Astrid Jung
Senior Consultant
Dr Astrid Jung joined E.CA Economics in 2008. Prior to that, she worked for CRA International in Sydney and the Australian Competition and Consumer Commission (ACCC). During more than 15 years of experience in the profession, Astrid has built an extensive case experience covering a wide range of industries, competition matters, jurisdictions and clients in Europe, Australia and Asia. Examples of her recent work include private litigation in cartel and information-exchange cases (e.g. trucks, car parts, harbour services, consumer goods), anti-competitive conduct in the shopping centre industry as well as mergers in the construction materials sector. Astrid has testified before the Australian Competition Tribunal.
Astrid holds a PhD from Humboldt University, where she specialised in the field of empirical industrial organization. Her research includes, among others, interconnection in IP networks and the empirical modelling of competition in the early mobile telephony industry. Astrid has published in Telecommunications Policy and in the Journal of Industry, Competition and Trade.
In 2019, W@Competition named Astrid as one of their “40 in their 40s” Notable Women Competition Professionals in Economics.
Contact
Phone: +49 30 212 31-7006
Education
- PhD in Economics, Humboldt University of Berlin
- Diplom Volkswirtin, University of Göttingen
Publications
- 2012
Product Market Competition and Lobbying Coordination in the U.S. Mobile Telecommunications Industry
Astrid Jung, Tomaso Duso, Journal of Industry, Competition and Trade, Volume 12, Issue 2, pp 177-201, June 20122009
Bill-and-keep and the economics of interconnection in next-generation networks
Astrid Jung, Moya Dodd, Bridger Mitchell, Paul Paterson, Paul Reynolds, Telecommunications Policy, 2009, Volume 33, Issues 5-6, June–July 2009, pp 324–337, June 20092007
Market conduct and endogenous lobbying: evidence from the US mobile telecommunications industry
Astrid Jung, Journal of Industry, Competition and Trade, March 2007, Volume 7, Issue 1, pp 9-29, March 2007
Michael Kaiser
Manager
Michael Kaiser
Manager
Dr. Michael Kaiser is a Manager in the Munich office. He joined E.CA Economics in October 2020. Michael has advised numerous clients in merger cases, cartel-related matters and abuse of dominance claims. His experience spans several industries and specifically includes digital platforms, the refining and fuel retail sector and chemical manufacturing.
Dr. Michael Kaiser holds a Doctoral degree in Economics from LMU Munich. His dissertation presented research which employs tools of applied econometrics and machine learning to address questions in labour and development economics.
Prior to that, Michael worked as a research associate at UC San Diego’s Department of Economics for two years. He also holds a Master’s degree in international and development economics from Yale University, and a Bachelor’s in economics from Tilburg University.
Contact
Education
- PhD in Economics, LMU Munich
- Master in International Developement and Economics, Yale University, USA
- Bachelor in Economics, Tilburg University, The Netherlands
Jakub Kałuzny
Associate Principal
Jakub Kałuzny
Associate Principal
Jakub Kałużny is an Associate Principal in the E.CA Berlin office. He joined E.CA Economics in February 2009. He has extensive experience applying both empirical and theoretical economic analysis to antitrust litigation and regulatory matters. His areas of expertise include the evaluation of the competitive effects of mergers, monopolisation and vertical restraints both in the United States and in Europe. His analyses have covered a broad range of industries including consumer goods, health care, agriculture, chemicals and information technology.
Jakub holds a Doctorate from Northwestern University, where he specialised in industrial organization and economic theory.
Prior to joining E.CA, he worked as a senior consultant in the antitrust and environmental and product-liability practices of Bates White, an economic consulting firm based in Washington, D.C.
Previously, he served as a lecturer in the statistics department at Northwestern University.
Contact
Education
- PhD in Economics, Northwestern University
- MA in Economics, Northwestern University
Publications
- 2024
European State Aid Law
Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, published by Prof Dr Marc Bungenberg and Helge Heinrich at Nomos Verlagsgesellschaft mbH & Co. KG, European State Aid Law, second edition, October 2024Economic trade-offs in rail transport
Pauline Affeldt, Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, Francesca Urzi, E.CA Economics, August 20242014
Cross-country price comparisons for competitive assessment
The Economics of Sovereign Debt
Jakub Kałuzny, Dr Lyndon Moore, The University of Melbourne, Australia, EE Publishing, 3 volume set, ISBN: 978 1 78536 057 2, 2016“Bob Kolb has assembled this outstanding collection of research articles, which could have been called the Greatest Hits of Sovereign Debt. The future of all people on the planet depends heavily on understanding what really happens when governments borrow. Bringing the body of knowledge of this subject under this umbrella is a masterful and thankless achievement. – Don M. Chance, Louisiana State University, US”
“This expansive collection contains more than one hundred of the very best and most influential scholarly articles on the sovereign debt of central governments around the world. It features discussions of the debt of many emerging nations as well as the largest sovereign debtors in the world. Collectively, these articles provide a thorough understanding of sovereign debt as seen by the best economists from around the world. The extensive and in-depth introductory chapter also discusses each of the articles individually. This collection is an essential tool to libraries, academic institutions, economic scholars and students alike.”
The selection contains a paper by Lyndon Moore and Jakub Kaluzny : “Regime Change and Debt Default: The Case of Russia, Austro-Hungary, and the Ottoman Empire following World War One”.
On the Difficult Relationship between Competition Policy and Public Enterprises – What can be learned from Recent Developments in the Field of European State Aid Control
Hans W. Friederiszick, Jakub Kałuzny, In: The Pros and Cons of Competition in/by the Public Sector, edited by the Swedish Competition Authority.Defining product markets for shopping centers – Thoughts on methodological choices
Defining Product Markets for Retail Rental Space: Thoughts on Methodological Choices
Presentations
- 2013
Simulation as a tool for merger assessment: benefits and limitations
2009
On the difficult relationship between competition policy and public enterprises
Hans W. Friederiszick, Jakub Kałuzny, Swedish Competition Authority Seminar :"The Pros and Cons of Competition in/by the Public Sector", Stockholm, November 2009
Bede Lawson
IT Administrator
Bede Lawson
IT Administrator
Bede Lawson is an IT Administrator in the Berlin office. He joined E.CA Economics in April 2022. Before joining E.CA, Bede spent several years as a Technical Analyst at an International Economic Consulting company, providing technical support for colleagues working in the firm’s offices in Berlin, Frankfurt, Madrid and Paris.
Bede is a driven Technical Analyst with a well-rounded background and several years of experience in implementing new technological solutions. He is dedicated to achieving the best results by identifying project goals, troubleshooting, and recommending and implementing hard- and software solutions. He is also proficient in researching and crafting cutting-edge processes to resolve technological challenges and has a passion for continuous learning.
Bede holds a Master’s degree in Agricultural Economics from Berlin’s Humboldt University, and a specialised Computer Scientist Certificate in System Integration.
Contact
Education
- Master degree in Agricultural Economics, Humboldt University, Berlin
- Specialised computer scientist Certificate in System Integration
Tobias Lorenz
Economist
Tobias Lorenz
Economist
Tobias Lorenz is an Economist in the Berlin office. He joined E.CA Economics in July 2023. Tobias holds a Master’s degree in economics from the Humboldt University Berlin as well as a Bachelor’s degree in economics from the University of Mannheim. During his studies, he focused on General Microeconomics, Econometrics and Environmental Economics.
Prior to joining E.CA as an Economist, Tobias completed an internship at E.CA, as well as at Deutsche Bundesbank. He also held research assistant positions at the DIW Berlin and the ZEW Mannheim.
Contact
Phone: +49 30 166359340
Education
- Master degree in economics, Humboldt University Berlin
- Bachelor degree in economics, Mannheim University
Martin Lutzenberger
Senior Consultant
Martin Lutzenberger
Senior Consultant
Prof Martin Lutzenberger joined E.CA Economics in 2019. He has many years of experience in applied research and consulting in the fields of competition economics and regulation. His work includes benchmark studies for regulatory authorities, antitrust and antitrust damages cases as well as the assessment and evaluation of mergers.
After his studies in Economics at the University of Freiburg i.Br., he obtained a Doctoral degree from the University of Zurich. His doctoral thesis focused on the tension between regulation and innovation and was evaluated with “summa cum laude”. Throughout the following years, Martin was active as a project manager, senior research associate and lecturer at the Lucerne University of Applied Sciences and University of Zurich. He then held the position of project manager and head of the Berlin office for a leading Swiss consultancy firm in the field of regulation and competition.
Furthermore, Martin is a professor of Economics at the renowned “BSP Business School Berlin”.
Contact
Education
- Dr. oec. publ. in Economics, University of Zurich
- Diplom-Volkswirt in Economics, University of Freiburg i. Br.
Jan Málek
Manager
Jan Málek
Manager
Dr. Jan Malek joined E.CA Economics in July 2022 and is a Manager in the Berlin office.
Jan obtained his PhD from KU Leuven and DIW Berlin in November 2022, specialising in empirical Industrial Organisation and Innovation. His dissertation examines the drivers and effects of acquisitions of R&D projects in the pharmaceutical industry, and considers both the product market and technology aspects of transactions. It also investigates the relationship of venture capital funds and kill zones in the innovation landscape. Jan’s research was funded by a grant from the Research Foundation Flanders.
Jan has gained case experience in a range of industries (for example energy, insurance and reinsurance, telecoms, construction) and supports clients in merger proceedings, abuse of dominance cases, state-aid proceedings, and follow-on damage litigations.
Before joining E.CA, Jan held several part time roles alongside his research work. He worked as a Competition Economist in a Czech law firm, advising clients on RPM issues. On the team of a monitoring trustee, he supervised the implementation of a complex merger remedy package. Together with Masaryk University in Brno, he spoke in court as an economic expert in a litigation proceeding in the Czech Republic. In 2020/2021, he was a Bluebook Trainee in the team of the Chief Economist of DG COMP, where he worked on a complex merger case and was involved in several policy projects. Last but not least, he interned at E.CA in 2018.
Jan holds a Master’s degree in Economics from the University of Amsterdam (with a specialisation Markets and Regulation), and a Bachelor’s degree in Economics from Charles University in Prague.
Contact
Education
- PhD Business Economics, KU Leuven (ongoing)
- MSc Economics (specialisation Markets and Regulation), Amsterdam University
- BSc Economics, Charles University Prague
Publications
2022
KVIZDA, Martin, Ondřej ŠPETÍK, Jakub CHINI and Jan MÁLEK. Znalecký posudek ve věci 3 Cm 11/2018 – Srovnání nákupu elektrické energie prostřednictvím otevřeného zadávacího řízení a přes komoditní burzu (Expert opinion in case 3 Cm 11/2018 – Comparison of Purchasing Electricity through an Open Tender Procedure and through a Commodity Exchange). objednatel: Městský soud v Praze, 2022. 36 pp.
2020
‘Killer acquisitions’ en innovatie (in Dutch) with M. Newham and J. Seldeslachts, KVS Preadviezen 2020, Online
US and EU secure vaccine production on home soil with M. Newham, J. Seldeslachts and M. Wieting, DIW Focus No. 6, 10/2020, Online
2017
Influence of renewable energy sources on transmission networks in Central Europe with Lukáš Rečka and Karel Janda. Energy Policy, Energy Policy108 (2017): 524-537.
Janda, Karel, Jan Málek, and Lukáš Rečka. “Vliv obnovitelných zdrojů na českou soustavu přenosu elektřiny [The Impact of Renewable Energy Sources on the Czech Electricity Transmission System].” Politická ekonomie6 (2017): 728-750.
Publications
- 2024
Digital Empires Reinforced? Generative AI Value Chain
Elene Mchedlishvili
Junior Controller
Elene Mchedlishvili
Junior Controller
Elene Mchedlishvili joined the Berlin office of E.CA Economics in November 2023. In her role, she supports management in financial reporting, planning, performance, and control.
Elene holds a Bachelor’s degree in International Business Administration from the European University of Viadrina, as well as a Master’s degree in Economics from Humboldt University of Berlin. Her studies also included exchange semesters at the University of Porto and the University of Maastricht.
Before joining E.CA, she gained professional experience as a student at various companies, primarily focusing on tasks related to accounting, finance, and project-controlling.
Contact
Education
- Master’s Degree in Economics, Humboldt University of Berlin
- Bachelor’s Degree in International Business Administration, European University of Viadrina
Daniela Nunes
Human Resources Assistant
Daniela Nunes
Human Resources Assistant
Daniela Nunes is a Human Resources Assistant in the Brussels office. She joined E.CA Economics in August 2023.
Daniela has a strong background in administrative and human resources roles, and before joining E.CA she gained valuable experience during her traineeship at the European Parliament.
Daniela is currently completing a master’s degree in Economics and Human Resources Management. Prior to this, she obtained her bachelor’s degree in Public Administration in Portugal, which included a semester at the University of Łódź in Poland.
Contact
Education
- Bachelor Degree in Public Administration, University of Aveiro (Portugal)
Alexander Paul
Manager
Alexander Paul
Manager
Alexander Paul is a Manager in the Berlin office. He holds a PhD in Economics from the University of Mannheim and joined E.CA Economics in September 2020.
Alexander has many years of experience in empirical economic research. Prior to joining E.CA he worked as an Assistant Professor at the University of Aarhus, Denmark. His research, which centres on applied econometric work in the economics of human development and health economics, has been published in leading journals.
Contact
Education
- BSc in Economics
- MSc in Economic Research
- PhD in Economics, University of Mannheim
Giulio Pietrobelli
Economist
Giulio Pietrobelli
Economist
Giulio Pietrobelli is an Economist in the Berlin office. He joined E.CA Economics in September 2022. Giulio holds a Master’s degree in Economics from the Barcelona School of Economics as well as a Bachelor degree in Business Administration and Economics from the University of Rome Tor Vergata.
Before joining E.CA, Giulio interned at Arthur D. Little where he specialised in Spectrum Auctions. He also completed an internship at the International Fund for Agricultural Development (IFAD), where he worked on a happiness economics related project.
Contact
Education
- MSc in Economics, Barcelona School of Economics
- BSc in Business Administration and Economics, University of Rome Tor Vergata
Raphaël Poncet
Senior Economist
Raphaël Poncet
Senior Economist
Raphaël Poncet is a Senior Economist in the Brussels office. He joined E.CA Economics in April 2021. Raphaël holds a double Bachelor’s degree in Economics and Law as well as a double Master’s degree in Economics and Business Law from the Toulouse School of Economics. During his studies, he specialised in industrial organisation and focused on competition related topics.
Prior to joining E.CA, Raphaël was a teacher assistant in microeconomics at the Toulouse School of Economics. He also completed an internship with E.CA.
Contact
Education
- Double M.Sc in Economics and Business Law, Toulouse School of Economics
- Double B.Sc in Economics and Law, Toulouse School of Economics
Publications
- 2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
Paul Püplichhuisen
Economist
Paul Püplichhuisen
Economist
Paul Püplichhuisen is an Economist in the Brussels office. He joined E.CA in January 2024. Paul holds a Bachelor’s degree from the University of Bayreuth and a Master’s degree in Economics from the Heinrich Heine University Düsseldorf. During his studies, he specialised in econometrics, energy economics and competition in digital markets. For his master thesis, he conducted simulation experiments to study the capability of self-learning pricing algorithms to forge collusive schemes and compared algorithmic behaviour to human behaviour.
Paul worked as a student assistant at Fraunhofer FIT in Bayreuth and as a scientific assistant at the Düsseldorf Institute for Competition Economics (DICE), where he is currently an external PhD candidate. Further, he has also had internships at E.CA Economics in 2021, Lademann & Associates in 2020, and Deutsche Telekom in 2018.
Contact
Education
- M.Sc. in Economics, Heinrich-Heine University in Düsseldorf
- B.Sc. in Economics, University of Bayreuth
Luca Rancati
Economist
Luca Rancati
Economist
Luca Rancati is an Economist in the Brussels office and joined E.CA Economics in March 2020.
He holds a Double degree Master in economics from the University of Milan and Université catholique de Louvain. During his studies, Luca specialised in Industrial organisation, Competition policy and Regulation. Prior to this, he completed a Bachelor’s degree in Philosophy from the University of Milan.
Before joining E.CA, Luca interned in an Italian economic consultancy, where he worked on cases related to the Energy and Telecommunications sectors.
Contact
Education
- Double degree Master in Economics, Milan University, Italy and Université catholique de Louvain, Belgium
- Bachelor’s degree in Philosophy, Milan University, Italy
Publications
- 2023
Impact assessment support study for the review of the Community guidelines on State aid for railway undertakings
Elżbieta Głowicka, , Malte Jeschonneck, Anselm Mattes, Luca Rancati, Francesca Urzi, Margaux Gabriel, Gabriele Dente, Salvatore Nava, Elena Salomone, David Deller, Sean F. Ennis, Bryn Enstone, Ana Alvarez Vidal, Nour el-Houda Bey, Michael Hofmann, Robert Klotz, European Commission, March 2023
Michael Rauber
Associate Principal
Michael Rauber
Associate Principal
Dr Michael Rauber is an Associate Principal in the Berlin office. He joined E.CA Economics in December 2014. Since that time, he has worked on numerous competition-economics cases related to cartels, mergers and antitrust law. In particular, he has provided extensive advice to clients on cartel-related matters and follow-on litigation in a wide range of industries including the sugar, trucking, payment instrument and window-fitting sectors.
Before joining the E.CA team, Michael served for three years on the chief economist’s team at the United Kingdom’s Office of Fair Trading (OFT) and the Competition and Markets Authority (CMA) and was assistant director of the CMA’s research and evaluation unit. Prior to these activities, he worked as a PricewaterhouseCoopers consultant in London and Berlin, advising clients on a wide range of economic issues, with a particular focus on econometric analysis. Michael holds a Doctoral degree from the University of Konstanz with a focus on empirical economics.
Contact
Education
- Dr. rer. pol., University of Konstanz
- Diplom-Volkswirt, University of Konstanz
Publications
- 2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
2020
Loyalty Penalty Report
Paul Heidhues, Michael Rauber, Johannes Johnen, Competition and Markets Authority (CMA), December 2020Professors Paul Heidhues and Johannes Johnen with support of Dr Michael Rauber of E.CA Economics carried out a research report for the Competition and Markets Authority (CMA). Now the CMA has published the report that reviews the academic literature on the economic theory of the loyalty penalty. This includes both the classical theory such as switching and search costs, and behavioural theories explaining phenomena like consumer inertia.
The study aims to understand how pricing patterns can arise under differing assumptions, whether they may be considered pro- or anticompetitive and what welfare implications may arise. Moreover, the study sets out the lessons it has to offer thereby considering the pros and cons of a wide range of possible policy options ranging from direct price regulation, to intermediaries such as price comparison websites and encouraging consumers to switch.
The impact of EU cartel policy reforms on the timing of settlements in private follow-on damages disputes—an empirical assessment of cases from 2001 to 2015
Hans W. Friederiszick, Linda Gratz, Michael Rauber, Journal of Antitrust Enforcement, Volume 9, Issue 2, July 2021, Pages 313–346, November 20202018
Environmental State aid – study for the German ministry on ex-post evaluation
Linda Gratz, Michael Rauber, Hans W. Friederiszick, Umweltbundesamt, ISSN 1862-4804, Dessau-Roβlau, May 2018The EU Commission recently introduced new obligations for the ex-post evaluation of State aid schemes for member states. To prepare for upcoming submissions to the Commission the German Federal Ministry for the Environment and the associated Environmental Agency engaged E.CA Economics (Dr. Hans W. Friederiszick, Dr. Linda Gratz, Dr. Michael Rauber, Dr. Daniel Streitz) and the law firm Redeker Sellner Dahs (Dr. Simone Lünenbürger, Dr. Gero Ziegenhom, Dr. Andreas Rosenfeld, Dr. Ulrich Karpenstein) for an interdisciplinary research project on ex-post evaluations of environmental aid. To assess the probability with which the Commission would request an ex-post evaluation of an environmental State aid scheme, the team designed a novel warning system. Moreover, a roadmap helping to steer the organisation, scope and timing of an ex-post evaluation by the ministry was developed. The most important methodical issues when carrying out an ex-post evaluation were explained using examples of environmental aid schemes. The legal analysis included the data-protection framework and the requirements regarding the expert`s independency for upcoming ex-post evaluations.
2015
A Fleet Without a Captain? Taking Stock of European Antitrust Litigation Post EU Directive
Presentations
- 2016
Presentation at The Antitrust Enforcement Symposium
Hans W. Friederiszick gave a presentation at the Antitrust Enforcement seminar in Oxford. He presented most recent figures on private litigation activity in Europe, specifically exploring the recent trend towards early settlements (based on joint work with Michael Rauber,E.CA Economics).
Jörg Rocholl
President, Professor of Finance, ESMT Berlin
Jörg Rocholl
President, Professor of Finance, ESMT Berlin
Jörg Rocholl has been the president of ESMT since July 2011. He joined ESMT in July of 2007 as an associate professor. In July 2010 he was promoted to professor and awarded the first EY Chair in Governance and Compliance, which he held until June 2019. In September 2010 he was named as the associate dean of faculty and in April 2011, dean of faculty. Jörg holds both his PhD in Finance and Economics and his MPhil from Columbia Business School and received his “Diplom-Ökonom mit Auszeichnung” (Economics degree with distinction) from the Witten/Herdecke University in Germany.
Jörg’s research interests are in the areas of Corporate Finance, Corporate Governance, and Financial Intermediation. His research has been accepted for publication in leading academic journals such as the Journal of Finance, Journal of Financial Economics, and the Review of Financial Studies.
Jörg is the vice-chair of the economic advisory board of the German Federal Ministry of Finance and also the vice chairman of the economic advisory board of Deutsche Welle. He is also a research professor at the Ifo Institute in Munich and Duisenberg Fellow of the European Central Bank (ECB). He has worked with Boston Consulting Group in Frankfurt and London and Deutsche Bank in Frankfurt and New York. Furthermore, he has been a visiting researcher at the Bundesbank’s Economic Research Center in Frankfurt. Jörg received the Distinguished CESifo Affiliate Award and was awarded the Lamfalussy Fellowship from the European Central Bank. He has received several research grants from Columbia Business School, Kenan-Flagler Business School, and the FDIC; the Weatherspoon Teaching Award at Kenan-Flagler Business School; and a grant from the Westphal Foundation to conduct research in Kuala Lumpur and Hong Kong.
Jörg’s research has been portrayed in leading international media such as New York Times, Washington Post, Los Angeles Times, Boston Globe, Financial Times, Frankfurter Allgemeine Zeitung, Handelsblatt, and Börsen-Zeitung. He appears regularly as an expert on ARD, ZDF, and Deutsche Welle TV.
Contact
Education
- PhD in Finance and Economics, Columbia Business School
- MPhil in Finance and Economics, Columbia Business School
- Dipl.-Ök. in Economics, Universität Witten/Herdecke
Publications
- 2016
Adverse incentives in crowdfunding
Presentations
- 2012
Flight to Where? Evidence from Bank Investments During the Financial Crisis
Thomas Hildebrand, Jörg Rocholl, Alexander Schulz , 7th FIRS Annual Conference, Minneapolis, June 2012Thomas Hildebrand, Jörg Rocholl and Alexander Schulz presented at the 7th FIRS Annual Conference, Minneapolis, 1-4 June 2012
2011
Skin in the Game: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , European Finance Association (EFA), Stockholm, August 2011Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 38th Annual Meeting of the European Finance Association, organised by Stockholm School of Economics (SSE), the Institute for Financial Research (SIFR) and Fisher College of Business, The Ohio State University, was held at Clarion Sign Hotel, Stockholm, Sweden on 17-20 August 2011.
Skin in the Game: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , American Economic Association (AEA), Denver, January 2011Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the AEA 2011 Annual Meeting, Denver, 7-9 January 2011
2010
Skin in the Game: The Incentive Structure in Online Social Lending
Thomas Hildebrand, Jörg Rocholl, Manju Puri , Financial Management Association (FMA), New York, with Manju Puri and Jörg RochollOctober 2010, October 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the Financial Management Association (FMA) in New York in October 2010
Skin in the Game in the Originate-to-Distribute Model: Evidence from the Online Social Lending Market
Thomas Hildebrand, Jörg Rocholl, Manju Puri , Deutsche Gesellschaft für Finanzwirtschaft (DGF), Hamburg, October 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 17th Annual Meeting of the Deutsche Gesellschaft für Finanzwirtschaft (DGF) in Hamburg on 8-9 October 2010
Skin in the Game: The Incentive Structure in Online Social Lending
Thomas Hildebrand, Jörg Rocholl, Manju Puri , 45th Annual Conference of the Western Finance Association (WFA), Victoria, June 2010Thomas Hildebrand, Jörg Rocholl and Manju Puri presented at the 45th Annual Conference on 20-23 June 2010.
Jan Christopher Rönn
Senior Economist
Jan Christopher Rönn
Senior Economist
Jan Christopher Rönn is a Senior Economist in the Berlin office. He joined E.CA Economics in September 2019 and holds a Master’s degree in economics from the University of Mannheim. He specialised in microeconometrics and competition economics.
Prior to joining E.CA, Jan Christopher held a research assistant position at the Leibniz Center for European Economic Research (ZEW) and the University of Mannheim.
Contact
Education
- MSc in Economics, University of Mannheim
- BSc in Economics, University of Mannheim
Publications
- 2021
Support study for the revision of the EU Guidelines on State aid for environmental protection and energy applicable in 2014-2020
Elżbieta Głowicka, Hans W. Friederiszick, Anselm Mattes, Jan Christopher Rönn, Arvid Viaene and others, DIW Berlin, SheppardMullin, University of East Anglia, European Commission 2021, January 2021
Giulia Santosuosso
Senior Economist
Giulia Santosuosso
Senior Economist
Giulia Santosuosso is an Senior Economist in the Brussels office. She joined E.CA Economics in July 2021. Giulia holds a Master’s degree in Economic Analysis and European Policy from the Solvay Brussels School of Economics as well as a Bachelor degree in Economics and Management from the University of Trento. During her studies, she specialised in labour economics and applied econometrics.
Before joining E.CA, Giulia interned at the Directorate General for Competition of the European Commission, where she worked on cases related to antitrust in the Electronic and Telecommunications sectors. She also completed an internship in a consultancy that specialised in corporate governance in Brussels.
Contact
Education
- Bachelor degree in Economics and Management at University of Trento, Italy
- Master’s degree in Economic Analysis and European Policy at Solvay Brussels School of Economics and Management
Publications
- 2023
The over-education wage penalty among PhD holders: a European perspective
Giulia Santosuosso, Loredana Cultrera, François Rycx and Guillaume Vermeylen, Education Economics, November 2023Education Economics, DOI:10.1080/09645292.2023.2277120
2022
Ex-post Evaluation of Vertical Mergers
Rafael Aigner, Bas Dessens, , Nicola Heusel, Alena Kozakova, Raphaël Poncet, Michael Rauber, Giulia Santosuosso, Ignacio Balaguer Lopez, Competition and Market Authority, March 2022A review by E.CA Economics of the CMA’s assessment of vertical theories of harm in four merger clearance decisions.
Anne Schmidt
Human Resources Manager
Anne Schmidt
Human Resources Manager
Dr. Anne Schmidt is the Human Resources Manager at E.CA Economics. She joined the Berlin office in September 2022. Anne has more than 15 years of experience as a psychologist, including research consulting, clinical work, and teaching. She specialises in HR data analysis, employee development, and recruiting.
Anne holds a doctoral degree in psychology from Max Planck Institute for Brain Research and Goethe University in Frankfurt. She graduated with her diploma in psychology from Martin-Luther-University Halle-Wittenberg. She is also a Fulbright Alumna and holds a master’s degree in experimental psychology from San Jose State University in California.
Contact
For recruiters: please contact us at jobs@e-ca.com
For applicants: please upload your application files on our website or email us at jobs@e-ca.com
Phone: +49 30 166359354
Juri Simons
Senior Economist
Juri Simons
Senior Economist
Juri Simons is a Senior Economist in the Berlin office. Juri joined E.CA Economics in August 2017. Prior to that, he worked as a consultant for Civity, where he helped companies develop strategies in the regulated transport and waste disposal markets.
At E.CA Juri has provided damage estimation advice in numerous areas, including the candy and trucking industries.
Juri holds a Master’s degree in the Economics of markets and organisations from the Toulouse School of Economics, where he specialised in industrial organization. He obtained a bachelor’s in economics from the Humboldt University of Berlin, with an exchange semester at Chulalongkorn University in Bangkok. During his studies, he interned at the German Bundeskartellamt, the German Institute for Economic Research (DIW) and the Grameen Bank in Bangladesh, which received the Nobel Peace Prize in 2006.
Contact
Education
- MSc in Economics, Toulouse School of Economics
- BSc in Economics, Humboldt University of Berlin
Mahim Singla
Economist
Mahim Singla
Economist
Mahim Singla is an Economist in the London office. He joined E.CA in September 2022. Mahim holds a Master of Science in Economics and Social Sciences from Bocconi University, Milan. He specialised in Econometrics and Empirical Industrial Organization during his studies and for his master’s thesis, wrote about the effects of a disruptive market entry in the Indian Telecom Industry. He also holds an undergraduate degree in Economics that he completed in India.
Before joining E.CA, Mahim interned with Bocconi University’s Development Economics Lab – LEAP. He also completed an internship with a public policy think tank in New Delhi, where he worked on Education Regulation related projects.
Contact
Education
- MSc in Economics and Social Sciences, Bocconi University
- BA in Economics, Delhi Technological University
Simon Specht
Manager
Simon Specht
Manager
Simon Specht is a Manager in the Berlin office. Simon joined E.CA Economics in September 2019. During his tenure at E.CA, he has worked on numerous cases across the field of competition economics. Simon’s experience comprises merger proceedings before European and national authorities (Phase I and Phase II investigations), e.g. Miele/Metall Zug (infection control and contamination prevention equipment), ZF Friedrichshafen/Wabco (automotive supply), Carglass/A.T.U. (car glass repair services), Dana/Modine (automotive supply).
Besides, Simon was involved in several litigation-related damage estimations, e.g. trucks, elevators and escalators, steel, automotive supply, civil engineering, foam mattresses and upholstered furniture, forestry industry, payment services, brakes. He has also provided advice in abuse of dominance cases (e.g. Apple 19a1 proceedings) and co-authored a retrospective evaluation study on state aid for banks in difficulty.
Prior to joining E.CA, Simon held several student research assistant jobs at the University of Mannheim and the University of Potsdam, as well as assisting positions at the German Institute for Economic Research (DIW), the Leibniz Centre for European Economic Research (ZEW) and the Mercator Research Institute on Global Commons and Climate Change (MCC). Additionally, he also interned at the Finance and Regulation sector of PricewaterhouseCoopers (PwC).
Simon holds a M.Sc. degree in Economics from the University of Mannheim which included an exchange semester at the Université Libre de Bruxelles. During his studies, he specialised in empirical methods with a focus on competition and public economics.
Contact
Education
- MSc in Economics, University of Mannheim
- BSc in Economics and Political Science, University of Potsdam
Birgit Stoberock
Executive Assistant, Head of Administration & Accounting
Birgit Stoberock
Executive Assistant, Head of Administration & Accounting
Birgit Stoberock joined the Berlin office of E.CA Economics in October 2007. In her position she strongly supports the Managing Directors and bears responsibility for E.CA’s organisational and administrative matters.
Birgit obtained a Magister degree in Roman languages and European ethnology as well as a Diploma in cultural administration. Before joining E.CA, she spent several years working for the National Centre for Languages (CILT), a non-profit organisation in London that promotes the advantages of learning and using foreign languages.
Contact
Andrea Streit
Senior Business Administrator
Andrea Streit
Senior Business Administrator
Andrea Streit joined the Berlin office of E.CA Economics in May 2020 as a Senior Business Administrator. Before joining E.CA, she spent several years working as an assistant for a law firm specialising in real estate. There, she was responsible for all administrative and managing procedures.
Andrea holds a Master’s degree in English and Spanish studies from the Humboldt University of Berlin. During her studies she also worked as an interpreter of English and Romanian for several state authorities as well as a teacher in adult education.
Contact
Education
- MA in English and Spanish, Humboldt University
Katarzyna Szymankiewicz-Vincent
Deputy Human Resources Manager
Katarzyna Szymankiewicz-Vincent
Deputy Human Resources Manager
Katarzyna Szymankiewicz-Vincent is the Deputy Human Resources Manager at E.CA Economics. She joined the Berlin office in February 2023.
She has gained experience as a Team and Administrative Assistant at the Leibniz Institute for East and Southeast European Studies in Regensburg and at the Graduate School at the University of Regensburg. She worked as an AskHR Specialist at ams Osram in Poznań, where she participated in migrations of processes, improvement of HR systems, onboarding processes, recruiting, and where she also supported the HR Operations team. At E.CA Economics she focuses on the company culture, fair policies, employer branding and employment law.
Katarzyna completed her PhD at the Institute of History at the University of Regensburg (Immanuel Kant Scholarship granted by The Federal Institute for Culture and History of the Germans in Eastern Europe, BKGE). She did her master’s degree in history and archival science at the Adam Mickiewicz University in Poznań including two semesters at the Eberhard-Karls-University in Tübingen.
Contact
For recruiters: please contact us at jobs@e-ca.com
For applicants: please upload your application files on our website or email us at jobs@e-ca.com
Phone: +49 30 166359356
Education
- PhD in History, University of Regensburg
- Master’s degree in History and Archival Science, Adam Mickiewicz University
Michael Tröge
Professor of Finance, ESCP Europe
Michael Tröge
Professor of Finance, ESCP Europe
Michael Tröge is Professor of Finance at ESCP Europe in Paris. He is specializing on the intersection of antitrust and finance. In particular, he is studying the competitive interaction of banks in credit markets. In this context he has participated as expert in the European Commission’s Sector Inquiry in Retail banking. His articles have been published in a variety of academic and practitioner-oriented journals including the Journal of Mathematical Economics, Games and Economic Behaviour, Journal of Economics, International Journal of Industrial Economics, Annales d’Economie et de Statistiques and EC Competition Policy Newsletter.
Professor Troege received a master in Mathematics from the Ludwig Maximilians Universität München in 1993. He then obtained a DESS in Finance from the Institut d’Etudes Politiques de Paris and in 1999 a Ph.D. in Financial Economics from Humboldt Universität Berlin. Prior to joining ESCP Europe he was research associate at the Wissenschaftszentrum Berlin (WZB) a government sponsored think tank and visiting scholar at J.L. Kellogg Graduate School of Management at Northwestern University.
Contact
Anastasiia Trusova
Marketing Assistant
Anastasiia Trusova
Marketing Assistant
Anastasiia Trusova joined E.CA Economics in May 2023 and is a Marketing Assistant at the Munich office. She has a diploma in business administration. Before joining E.CA, Anastasiia worked as a customer service manager in a bank and later as a general manager in an import-export business dealing in food products, where she was responsible for sales, marketing and for the overall functioning of the company.
Contact
Education
- Associate degree in Business administration
Francesca Urzi
Economist
Francesca Urzi
Economist
Francesca Urzi is an Economist in the Berlin office. She joined E.CA Economics in February 2023 and holds a Master´s degree in Economics from the University of Freiburg. During her studies, she specialized in Economic Policy and Applied Econometrics.
Prior to this, Francesca graduated in International Relations and Diplomatic Affairs at the University of Bologna, Italy.
Before joining as an Economist, she also completed an internship with E.CA.
Contact
Education
– Master´s degree in Economics, University of Freiburg
– Bachelor’s degree in International Relations and Diplomatic Affairs, University of Bologna
Publications
- 2024
Economic trade-offs in rail transport
Pauline Affeldt, Hans W. Friederiszick, Elżbieta Głowicka, Jakub Kałuzny, Francesca Urzi, E.CA Economics, August 20242023
Impact assessment support study for the review of the Community guidelines on State aid for railway undertakings
Elżbieta Głowicka, , Malte Jeschonneck, Anselm Mattes, Luca Rancati, Francesca Urzi, Margaux Gabriel, Gabriele Dente, Salvatore Nava, Elena Salomone, David Deller, Sean F. Ennis, Bryn Enstone, Ana Alvarez Vidal, Nour el-Houda Bey, Michael Hofmann, Robert Klotz, European Commission, March 2023
Harm van Leeuwen
Associate Principal
Harm van Leeuwen
Associate Principal
Harm van Leeuwen is an Associate Principal in the Berlin office. Since joining E.CA Economics in 2016, Harm has advised a range of clients in various fields of competition economics. He has worked on damage and pass-on assessments, analysis in information-exchange and merger cases, as well as state-aid policy evaluation. He is experienced in a variety of industries such as trucks, car parts, warehousing, cinemas and building materials.
Harm graduated from Humboldt University of Berlin with a Master’s degree in economics, specialising in microeconomics and behavioural economics. Prior to that, he studied social sciences at University College Maastricht. His education included an exchange semester at the Toulouse School of Economics and the University of Sydney. Before starting at E.CA, Harm worked at an analytics and market-research firm.
Contact
Education
- MSc in Economics, Humboldt University of Berlin
Frank Verboven
Professor of Economics, KU Leuven
Frank Verboven
Professor of Economics, KU Leuven
Frank Verboven is a professor of economics at the KU Leuven. He is a Research Fellow of the Centre for Economic Policy Research (London), and member of the Economic Advisory Group of Competition Policy at DG-Competition of the European Commission. He was Editor of the Journal of Industrial Economics (2003-2008) and holder of the Chair of Innovation and Regulation at Telecom ParisTech (2012-2015). He served as chairman of the Department of Economics of KU Leuven (2013-2017).
Frank’s research focuses on Industrial Organisation, in particular the econometric analysis of market power, with applications to competition policy and regulation. He has developed tools for merger simulation and for evaluating these tools. He introduced a unified framework for evaluating cartel damages, showing how to account for the passing-on defense under imperfect competition. He has empirically evaluated the impact of vertical restraints such as exclusive territories and exclusive dealing. He also developed empirical models to study the impact of entry on market performance. His research covered a variety of industries, including the European automobile market (vertical restraints and mergers), the telecommunications industry (global and individual countries), pharmaceuticals, health care professions and local service sectors and liberal professions. His work has been published in various top international journals, including the American Economic Review, American Economic Journal: Applied & Policy, RAND Journal of Economics, Review of Economic Studies and the Review of Economics and Statistics.
He teaches industrial organisation, micro-economics and empirical methods for competition policy.
He has advised the European Commission, national competition authorities in several European member states, and many leading companies on various cases, including mergers, cartels and exclusionary practices, and damages from cartels and abuses.
Contact
Education
PhD in Economics, University of Toronto
MA in Economics, Univerisity of Toronto
Publications
- 2019
Subsidies and Time Discounting in Technology Adoption: Evidence from Solar Photovoltaic Systems
2018
Enrollment and Degree Completion in Higher Education without Admission Standards
Consumer Valuation of Fuel Costs and Tax Policy: Evidence from the European Car Market
Frank Verboven, Laura Grigolon, Mathias Reynaert, American Economic Journal: Economic Policy, 10(3), 193-225, August 2018Evaluating Market Consolidation in Mobile Telecommunications
2017
The Battle of Traditional Retailers versus Discounters: the Role of Private Label Tiers
Frank Verboven, Gizem Hökelekli, Lien Lamey, Journal of Retailing and Consumer Services, 39, 11-22, December 2017Private Label Line Proliferation and Private Label Tier Pricing: a New Dimension of Competition between Private Labels and National Brands
Frank Verboven, Gizem Hökelekli, Lien Lamey, Journal of Retailing and Consumer Services, 36, 39-52, December 2017The Impact of Online Sales on Consumers and Firms — Evidence from Consumer Electronics
Frank Verboven, Nestor Duch-Brown, Lukasz Grzybowski, André Romahn, International Journal of Industrial Organization, 52, 30-62, November 20172016
Substitution between Fixed and Mobile Access – The Role of Complementarities
Scrapping Schemes in the Financial Crisis – Evidence from Europe
Frank Verboven, Laura Grigolon, Nina Leheyda, International Journal of Industrial Organization, 44, 41-59, October 2016Heterogeneity in the Adoption of Photovoltaic Systems in Flanders
Does Merger Simulation Work? Evidence from the Swedish Analgesics Market
Frank Verboven, Jonas Björnerstedt, American Economic Journal: Applied Economics, 8(3), 125-164, July 2016Exclusive Dealing as a Barrier to Entry? – Evidence from the Car Market
2015
Socio-economic Status and Enrollment in Higher Education: Do Costs Matter?
Unbundling the Incumbent: Evidence from UK Broadband
Frank Verboven, Mattia Nardotto, Tommaso Valletti, Journal of the European Economic Association, 13(2), 330-362, March 2015Public Support to the European Car Industry: the Impact of the Financial Crisis
Frank Verboven, Laura Grigolon, Nina Leheyda, Journal of Industry, Competition and Trade, 15(3), 283-321, March 2015Entry and Competition in Concentrated Markets with Product Differentiation
2014
Nested or Random Coefficients Logit? A Comparison between Alternative Discrete Choice Models of Product Differentiation
Merger simulation with Nested Logit Demand: Implementation using Stata
The effects of Environmental Policies in the Car Sector
Improving the Performance of Random Coefficients Demand Models – the Role of Optimal Instruments
Incumbency Advantages, Distribution Networks and Exclusivity – Evidence from the European Car Markets
Frank Verboven, Laura Nurski, International Journal of Industrial Organization, 34, 75-79, January 2014Market Definition of Broadband Internet in Slovakia: are Fixed and Mobile in the Relevant Market?
Rainer Nitsche, Frank Verboven, Lukasz Grzybowski, Lars Wiethaus, Information Economics and Policy, 28, 39-56, January 20142012
The Internal Economics of a University – Evidence from Personnel Data
Vertical Control of a Distribution Network – Evidence from Magazines
2010
Access Regulation, Competition, and Broadband Penetration: An International Study
Frank Verboven, Jan Bouckaert, Theon van Dijk, Telecommunications Policy, volume 34, issue 11, pp. 661-671, December 2010Empirical Analysis of Markets with Free and Restricted Entry
Frank Verboven, Stijn Ferrari, International Journal of Industrial Organization, 28, 403-406, July 2010
Mattia Visintin
Business Administrator
Mattia Visintin
Business Administrator
Mattia Visintin joined the London office of E.CA Economics in July 2023 as a Business Administrator. He holds a Diploma in Classics and a postgraduate Diploma in Commerce and Retailing.
He currently works part time for both E.CA and for the NHS as an administrator, where he is responsible for the clerical side of an hospital Allergy Clinic.
Contact
Education
- High School Diploma in Classics, Liceo Classico “Dante Alighieri”, Italy
- Postgraduate Diploma in Commerce and Retailing, ENAIP FVG, Italy
Carina Weber
Economist
Carina Weber
Economist
Carina Weber is an Economist in the Munich office. She joined E.CA in April 2023.
Carina holds a dual bachelor’s degree from the Berlin School of Economics and Law with a specialisation in transportation and logistics. She finished her master’s program in Industrial Economics at the Technical University Berlin.
In her master’s studies, she took empirical courses and courses focused on competition; in her thesis she prepared and analysed a rich dataset of the American air traffic sector. This dataset was used to estimate a model of demand and supply and consequentially conduct a merger simulation. Results give conclusions on market concentration, price, quantity and resulting welfare effects.
Contact
Phone: +49 89 541 998 70
Education
- Bachelor Degree in transportation and logistics, Berlin School of Economics and Law
- Master in Industrial Economics, Technical University Berlin
Owen Weijie Yan
Senior Economist
Owen Weijie Yan
Senior Economist
Dr. Owen Weijie Yan is a Senior Economist in the London office. He joined E.CA Economics in October 2022. Owen previously worked as a Postdoctoral Research Fellow at the Centre for Internationalisation and Competitiveness in the Economic and Social Research Institute (ESRI Dublin), where he conducted several economic research projects for the European Commission (DG GROW), the Department of Taoiseach Ireland, the Department of Enterprise, Trade and Employment Ireland, the Environmental Protection Agency Ireland, and Skillnet Ireland. His work has also been published in leading international peer-reviewed journals. His research interests are in competition, industrial organization, and firm growth and productivity. His area of specialty is in econometric methods.
Owen acquired his Ph.D. in Economics and his Master’s in Industrial Economics from the University of East Anglia (UEA). His doctoral thesis focused on market power and competition among UK pharmaceutical firms. Owen was also an associate tutor in teaching at UEA and a student member of the Centre for Competition Policy (CCP). He acquired his BSc in Statistics from the University of Hong Kong (HKU).
Contact
Education
– PhD in Economics, University of East Anglia
– Master in Industrial Economics, University of East Anglia
– BSc in Statistics, University of Hong Kong
Publications
2024
– “Antibacterial resistance and the cost of affecting demand: The case of UK antibiotics” (with Farasat A.S. Bokhari and Franco Mariuzzo), International Journal of Industrial Organization, June 2024
2022
– “Green investments and firm performance” (with I. Siedschlag), Technological Forecasting and Social Change, Volume 186, Part B, 2023, 122181, Nov 2022.
– “Study to map, measure and portray the EU mid-cap landscape” (with B. Dachs, I. Siedschlag, and M. Yoveska), commissioned by the EC DG Internal Market, Industry, Entrepreneurship and SMEs, Nov 2022
– “Talent for Ireland’s green economy: Examining skill needs to support enterprise innovation and Ireland’s transition to a low-carbon economy” (with I. Siedschlag and S. Meneto), commissioned by the Skillnet Ireland, March 2022.
2021
– “Enhancing the attractiveness of the island of Ireland to high-value Foreign Direct Investment” (with I. Siedschlag and N. Driffield), commissioned by the Department of Taoiseach Ireland, December 2021.
– “Firms’ green investments: What factors matter?” (with I. Siedschlag), Journal of Cleaner Production, 310, 127554, May 2021.
– “Evaluation of the Enterprise Ireland Research, Development and Innovation Programme” (with I. Siedschlag, M. Wain et.al.), commissioned by the Department of Enterprise, Trade and Employment, Ireland, March 2021.
2019
– “The performance of the Single Market for goods after 25 years” (with I. Siedschlag, Y. Wolfmayr et.al.), commissioned by the European Commission Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, September 2019.