Search
photo of Xeni Dassiou

Dr Xeni Dassiou

Reader in Economics

School of Policy & Global Affairs Department of Economics

Contact details

About

Overview

Xeni Dassiou is a Reader in Economics in the Department of Economics at City, University of London She is a founding member of the Centre for Competition and Regulatory Policy (CCRP) in 2005 and has directed the Centre from 2008 till today. She is also a consultant and an academic Panel Member of Ofgem, the UK's Electricity and Gas regulator since 2017.

Academic and professional experience

More than 30 years of experience teaching undergraduate and postgraduate courses, executive seminars, and short-term courses in microeconomics, industrial economics, mathematical economics, competition, and regulation. She is an expert in communicating highly complex economic concepts and issues to all types of audiences and has strong analytical skills in microeconomic theory and competition analysis. Specialized knowledge of the theoretical and applied economic foundations behind privatization, competition, mergers, antitrust policy, market studies and investigations, behavioural economics, competition, and regulation. Her professional clients for her academic expertise, consultancy, and executive education services include the National Audit Office, the Competition and Markets Authority, the Institute of Economic Affairs, The Financial Ombudsman, the BBC Trust, British Gas (Centrica), and many others. She has organized and chaired more than 45 conferences, round tables, and policy events as the director of the CCRP and she has been an invited speaker and panelist at numerous competition and regulatory events and forums

Academic research work

Research on the impact of failed mergers on the returns of bidding and target companies in the UK, the role of herding in determining managerial and investment behaviour, the economic theory of bundling as an instrument of price discrimination both on a mathematical platform as well as on the economic policy related implications of bundling in government procurement and financial regulation. She has also worked in modelling the formation and updating of trust perceptions in infrastructure contracts, signaling theory and language formation, and the impact of international market structure on exchange rate exposure Her policy work with the NAO looked at public service markets economics and regulatory oversight as part of her work with the National Audit Office and BBC Trust. She has recently returned her research focus to the interface between International finance and industrial organization looking at the impact of market power on the performance of financial technology (fintech) firms as they compete with banks.

Qualifications

  • PhD Economics, University College London, United Kingdom, 1990
  • MPhil Economics, University of Cambridge, United Kingdom, 1986
  • BSc Statistics, University of Piraeus, Greece, 1985

Teaching

Teaching and Executive Education

Financial Ombudsman, London, 2015
Training course on economic markets, asymmetric information and behavioural economics for the senior management of the FO

Ofgem (Office for gas and electricity markets), London, February 2008- January 2012
Training courses on energy competition and regulation for energy markets regulators

Liaoning Province Prices Bureau, Government of China, Croydon, December 2010
Overview of competition policy in energy in the UK.

Executive Summer School & Conference on Competition and Regulation (CRESSE), Greece, June 2006, June 2007, June 2008, June 2009.
2-day intensive course in competition economics and game theory

Ofgem (Office for gas and electricity markets), London, October 2002 - October 2007
Training courses on energy competition and regulation for energy markets regulators

SINOPEC (www.sinopec.com.cn), Sino-Bridge International Ltd., London March 2006
Introduction of competition in the UK energy market.

Cass Business School, London, MSc Shipping Trade and Finance, June 2001
Four 3-hour lectures for the module “Frontiers of Strategy and International Business” for the MSc in Shipping Trade and Finance.

Cass Business School, London, MSc Shipping Trade and Finance, May 2000
3-hour executive seminar on the theoretical economic foundations of mergers and acquisitions.

Invited talks and seminars on the topic of behavioural economics insights in consumer and firm behaviour and implications for regulatory and competition policy:

• Global Law and Governance Summer School, European Public Law Organisation (EPLO), Sounio, Greece, 2014
• Global Law and Governance Summer School, European Public Law Organisation (EPLO), Sounio, Greece, 2013
• The Regulators’ Forum, London, 2011
• Annual Symposia of Regulatory Affairs, Centre of Parliamentary Studies, London, 2011
• Annual Symposia of Regulatory Affairs, Centre of Parliamentary Studies, London, 2010
• The Local and National Regulators Annual Conference, London, 2010

Invited round table panellist contributions and talks on the issues and challenges surrounding competition and regulation in public service markets:

• CCRP Competition Policy Round Table panellist, City University London, January 2015
• National Audit Office, Public Service Markets Workshop, London, October 2014: Expert speaker
• National Audit Office, London, June 2014: Keynote speaker
• National Audit Office Round Table panellist, Competition and Market Authority (CMA), London, April 2004
(http://www.nao.org.uk/wp-content/uploads/2013/12/Roundtable-summary.pdf)
• Office of Fair Trading (OFT) Round Table panellist, London February 2013
(http://webarchive.nationalarchives.gov.uk/20140402142426/http:/www.oft.gov.uk/shared_oft/public-markets/OFT1497.pdf)


COMPETITION POLICY ROUNTABLES ORGANISER

Public service markets: Competition Priorities, Oversight and Regulation, 19th Centre for Competition and Regulatory Policy, City University London, January 2015
The British Utility Regulation Model: Beyond Competition and Incentive Regulation? Centre for Analysis of Risk and Regulation (CARR) with Institute of Economic Affairs and Centre for Competition and Regulatory Policy, London School of Economics, March 2014
Competition and Deregulation Boundaries: Concurrency and its Future, 17th Centre for Competition and Regulatory Policy, City University London, January 2014
Competition Authority Market Inquires and their Future, 15th Centre for Competition and Regulatory Policy, City University London, January 2013
The UK Competition Regime Institutional Reforms, 13th Centre for Competition and Regulatory Policy, City University London, January 2012

Research

Research on the impact of failed mergers on the returns of bidding and target companies in the UK, the role of herding in determining managerial and investment behaviour, the economic theory of bundling as an instrument of price discrimination both on a mathematical platform as well as on the economic policy related implications of bundling in government procurement and financial regulation. More recently research work has involved modelling the formation and updating of trust perceptions in infrastructure contracts, signaling theory and language formation, while policy related work has focused on public service markets economics, oversight and regulation.

Research students

DOMILE BUTKEVICIUTE

Thesis title: PRICE DISCRIMINATION IN THE GROCERIES MARKET

Publications

Publications by category

Chapters (4)

  • Dassiou, X. and Glycopantis, D. (2012). Optimal decisions in two-stage bundling. Recent Advances in the Analysis of Competition Policy and Regulation (pp. 95-115). Edward Elgar Publishing Ltd.. ISBN 9781781005682.
  • Dassiou, X. and Glycopantis, D. (2005). E-Commerce and the Role of Price Discrimination Using Transactions Bundling. ESSAYS IN HONOUR OF PROFESSOR STYLIANOS Α. SARANTIDES (pp. 843-870). Greece: University of Piraeus.
  • Dassiou, X., Asteriou, D. and Glycopantis, D. FDI and Growth: Evidence from a Panel of European Transition Countries. Essays in honour of Professor Yannacopoulos (pp. 173-192). 2009: University of Piraeus.
  • Dassiou, X. and Glycopantis, D. Notes on the Economics of Uncertainty. In Drandakis, , Glycopantis, and Stamatis, (Eds.), Essays in Economic Theory, (In honour of Professor Theophanis Benos) (pp. 103-123). KRITIKI Publishing.

Conference papers and proceedings (12)

  • Dassiou, X., Bilotkach, V., Mueller, J., Stern, J., Mirrlees-Black, J. and Rangoni, B. (2012). Competition and regulatory policy: 2012. 20 January-.doi:10.1016/j.jup.2012.09.003
  • Dassiou, X. and Glycopantis, D. (2011). Optimal Pure Bundling inder Gaussian Demand. INTERNATIONAL CONFERENCE ON COMPETITION AND REGULATION 1-3 July, RHODES, GREECE.
  • Dassiou, X. (2011). Understanding the Behaviour of Regulated Individuals and Industries. 3rd Annual Regulatory Affairs International Symposium 30-31 March, Centre for Parliamentary Studies, Queen Elizabeth II Conference Centre, London.
  • Dassiou, X. (2010). Using Behaviour Change to Deliver Regulatory Outcomes in a Time of Financial Constraint. Annual Local and National Regulators Annual Conference 2010, Civil Service World, Regulatory Policy Committee, BIS, LBRO, BRE and NAO 21 October-.
  • Dassiou, X. (2010). The Psychology of Regulation - Predicting the Behaviour of Regulated Individuals and Organisations. The Annual Regulatory Affairs International Symposium 2010 14-15 July, Centre for Parliamentary Studies, The Common Wealth Club, London.
  • Gboney, W.K., Cubbin, J. and Dassiou, X. Empirical assessment of the impact of power sector reforms in Africa: A study of the generation, transmission and distribution sectors. .
  • Dassiou, X. (2009). The Water Industry, Competition and Climate Change. CCRP Research Workshop 9-7 January, Aston University, UK.
  • Dassiou, X. and Stern, J. (2008). Institutional Underpinnings of Trustworthiness in Infrastructure Contracts; Trust and Trust Perceptions. 7th Conference on Applied Infrastructure Research (INFRADAY) 10-11 October, Berlin University of Technology, Berlin.
  • Dassiou, X. and Stern, J. (2008). Institutional Underpinnings of Trustworthiness in Infrastructure Contracts; Trust and Trust Perceptions. 2nd St Andrews Workshop in Applied Microeconomics on “Incomplete Contracts: Theory, Evidence and Applications” 9-10 September, School of Economics and Finance, Castlecliffe, University of St Andrews, Fife.
  • Dassiou, X. and Stern, J. (2007). Institutional Underpinnings of Trustworthiness in Infrastructure Contracts; the Trust Case. International Conference “Public-Private Partnerships, Competition and Institutions” 7-8 December, Pantheon-Sorbonne, Paris, France.
  • Dassiou, X. (2007). Gaussian Demand, Set Proportions Commodity Bundling and Dispersion Sensitive Behaviour. 8th SAET Conference 18-24 June, Kos, Greece.
  • Dassiou, X. and Glycopantis, D. (2005). Price Discrimination through Transactions Bundling; the Case of Monopsony. Conference in the honour of Roko Aliprantis 17-18 October, Purdue University, West Lafayette, Indianapolis.

Journal articles (30)

Practitioner article

  • (2014). PUBLIC SERVICE MARKETS: THEIR ECONOMICS, OVERSIGHT AND REGULATION. Social Science Research Network paper

Reports (4)

Scholarly editions (3)

  • Andrikopoulos, A. and Dassiou, X. (2016). Show me your competitors and I will tell you if you are exposed : Market Structure and Foreign Exchange Exposure.
  • Stern, J. and Dassiou, X. Infrastructure Underpinnings of Trustworthiness in Infrastructure Contracts: Trust and Trust Perceptions.
  • Dassiou, X. and Stern, J. Infrastructure Underpinnings of Trustworthiness in Infrastructure Contracts: Trust and Trust Perceptions.

Working papers (6)

Other

  • Dassiou, X. and Stern, J.(2008). Institutional Underpinnings of Trustworthiness in Infrastructure Contracts; the Trust Case.

Professional activities

Editorial activity

  • Co-Editor, Special Section, Utilities Policy, on “Competition and Regulatory Policy: 2012”, 2012 , vol. 23 (2-4). Chair & Organiser, Special Section: Recent Advances in the Analysis of Competition Policy and Regulation, June 2012, Joseph E. Harrington Jr. and Yannis Katsoulacos (eds.) Cheltenham, UK and Northampton MA, USA: Edward Elgar Publishing, Part IV: Financial Regulation, pp. 327-374. (Proceedings of Conference Special Policy Session on Financial Regulation CCRP/CRESSE, Sixth Annual Competition and Regulation European Summer School and Conference (CRESSE), Rhodes, Greece, 2nd July 2011). Co-Editor, Special Issue, Utilities Policy, on “The Water Industry, Competition and Climate Change”, vol. 18, Issue 3, September 2010. Co-editor, Special Section, Utilities Policy, on “Regulation and Competition Policy Issues: Papers from January 2009 CCRP Research Workshop”, City University London Research, vol. 18, Issue 2, Pages 63-112, June 2010. Co-editor, Special Issue, The Journal of Economic Asymmetries, Symposium on “Modern Market Structures”, Vol. 6, No.2, 2009..

Events/conferences (5)

  • CCRP/CHEC Round Table. (Conference) (2024). Chair and Organising Committee
    Paper: Excessive pricing in Pharma
    Description: The City Health Economics Centre (CHEC) and Centre for Competition and Regulatory Policy (CCRP) jointly hosted a Round Table on Excessive Pricing in Pharma on May 15th. Coordinated by Victoria Serra-Sastre (CHEC), Xeni Dassiou, and Arina Nikandrova (both from CCRP), the event was a vibrant interdisciplinary discussion on the academically intriguing and socially relevant issue of excessive pricing in the pharmaceutical industry. Is excessive pricing in pharmaceuticals the result of regulatory loopholes enabled by barriers to entry despite the patent expiry? Following the expiration of a drug patent, the lack of price regulation leaves the drug susceptible to significant price hikes, but normally profits are dissipated as a result of competition from generic counterparts. In some instances, the absence of post-patent price regulation has led to substantial price increases, resulting in higher bills for the NHS and prompting investigations by the Competition and Markets Authority (CMA) and appeals to the Competition Appeal Tribunal (CAT). What are the root causes of such occurrences, and has sufficient action been taken to prevent them in the future? Xeni Dassiou chaired the Round Table session. Panel members Julie Bon (CMA), Katie Curry (RBB Economics), Tim Johnston (Barrister, Brick Court Chambers), Lotte Steuten (Office of Health Economics), and Carmine Ornaghi (University of Southampton) explored various perspectives on what constitutes excessive pricing, considering viewpoints from competition law, health economics, and economics. Throughout the round table, panellists shared insights into the pricing behaviours of pharmaceutical companies and the policy implications of such behaviours. It emerged that different disciplines hold very different definitions of excessive, monopoly and competitive pricing, leading to equally varied conclusions. The presentations and ensuing discussion were lively, drawing active participation from a diverse and engaged audience comprising professionals from consultancies, regulatory bodies, economists, healthcare professionals, and academia.
  • CARR, LSE AND CCRP, CITY, UNIVERSITY OF LONDON COMPETITION AND REGULATION ROUND TABLE. (Conference) (2024). Chair and Organising Committee
    Paper: ENRGY REGULATION FOR TECHNOLOGY AND SYSTEM CHANGES IN THE NET ZERO TRANSITION
    Description: CENTRE FOR ANALYSIS OF RISK AND REGULATION (CARR, LONDON SCHOOL OF ECONOMICS) & CENTRE FOR COMPETITION AND REGULATORY POLICY (CCRP, CITY UNIVERSITY OF LONDON) Competition and Regulation Round Table Energy Regulation for Technology and System Changes in the Net Zero Transition Thursday 18th April 2024 - The event is under Chatham House rules Round Table Chair: Dr Xeni Dassiou (Director, CCRP, City, University of London) Panel Members: Professor Michael Grubb (Energy and Climate Change, UCL Institute of Sustainable Resources) Dr Gavin Knott (Chief Economist, Ofgem) Ms Zoe McLeod (Executive & Policy Director, Sustainability First) Dr Vlad Parail (Partner, Baringa Partners) Mr Joe Perkins (Head of Research and Senior Vice President at Compass Lexecon) Dr Tim Schittekatte (Senior Director, FTI Consulting, Lecturer MIT/FSR) Networking lunch: 1-2pm The CARR/CCRP Roundtable of 18th April 2024 covered a range of themes including: • How network regulation is changing to reflect different priorities for the networks so that incentive regulation can work alongside growth in electricity networks and reduced demand for gas. • Wholesale market reforms to get to net zero. How would a shift to locational pricing make net zero cheaper and quicker? • Potential changes required to support low-carbon power generation as the market evolves to a fully decarbonized energy system and design of support schemes that keep such costs to a manageable level. • Electricity rates design; increasingly these rates are becoming price signals impacting actual consumer decisions, both in terms of adoption technologies as well as in using those. An improved cost reflective rate design is vital to avoid unnecessary investments in the power system and spur electrification while avoiding unwanted distributional consequences. • How to achieve affordability and distributional fairness in the net zero energy transition and avoid a regressive distribution of cost. The panel considered whether a competitive market can help consumers through the net zero transition by providing new services to end users, while also protecting those consumers that cannot yet afford to participate in the energy transition.
  • CCRP/OXERA CONFERENCE. (Conference) (2024). Organising Committee
    Paper: CONCURRENCY & COOPERATION: EX ANTE AND EX POST APPROACHES IN COMPETITION POLICY
    Description: Concurrency: the sharing of competition enforcement powers between the UK’s National Competition Authority and sectoral regulators Organised by The Centre for Competition and Regulatory Policy (CCRP) at City, University of London and Oxera Consulting LLP This day-long event was held on 7th March 2024. It was designed to explore the experience of concurrency across regulated sectors with a view to generating insights for the review of concurrency being undertaken by the UK’s Competition and Markets Authority (CMA). It also sought to draw lessons from experience of alternative arrangements in place in mainland Europe. The event was held under strict Chatham House Rules. The speakers and facilitators at the event were: Xeni Dassiou (Reader in Economics at City, University of London - CCRP) Luis Correia da Silva (Chair and Partner at OXERA) Sharon Horwitz (Director of Sectoral Regulation at CMA) Peter Freeman (Senior Adviser at Competition Appeals Tribunal (CAT)) Alasdair Smith (Ordinary Member at CAT) Graeme Reynolds (Director of Competition at Financial Conduct Authority (FCA)) Peter Andrews (Senior Adviser at OXERA) Helen Weeds (Senior Adviser at Payment Services Regulator (PSR)) Matthew Cherry (Chief Economist at PSR) Jordi Gual (Professor of Economics at IESE Business School, University of Navarra) Jon Stern (Honorary Visiting Professor at CCRP) Geoffrey Myers (Visiting Professor in Practice at London School of Economics (LSE)) Hugh Mullan (Economic Director at OFCOM) Johan Keetelaar (Senior Adviser at OXERA) Paul de Bijl (Chief Economist at ACM – The Authority for Consumers and Markets - Netherlands) Alexandre de Streel (Professor of European Law at University of Namur) Antoine Babinet (Deputy Head of Unit – Digital Markets Act enforcement at European Commission) Arina Nikandrova (Lecturer in Economics at City, University of London - CCRP) Amelia Fletcher (Professor of Competition Policy at Norwich Business School/Centre for Competition Policy, University of East Anglia)
  • Workshop on Competition and Regulation Markets. (Conference) City, University of London (2023). Chair, Organising Committee and Panel Member
    Paper: Panel Discussion: Measuring Innovation in Digital Markets and the Impact of Regulation
    Description: The Centre for Competition and Regulatory Policy in collaboration with the Competition and Markets Authority hosted the workshop at City, University of London on June 8-9th 2023. The workshop is a major policy event that brings together academics, policy makers and industry practitioners to share their perspectives on a broad range of topics related to competition on and regulation of digital markets. I co-organised the workshop and chaired the panel discussion. There were 30+ speakers and 100+ attendees.
  • OFGEM BI-ANNUAL CONFERENCE. (Public lecture) QEII CENTRE, WESTMINSTER (2022). Panel Member Invited speaker.
    Paper: THE JOURNAL OF REGULATION , HOW IT IS EVOLVING IN THE 21ST CENTURY AND WHAT IT WOULD MEAN FOR OFGEM
    Author: DASSIOU, X.
    Description: OFGEM'S INTERNAL BI ANNUAL EVENT WHERE I WAS AN INVITED SPEAKER TO AN AUDIENCE OF 500+ AT THE QEII HALL IN WESTMINSTER.

Online articles (3)

  • The weaker pound is a mixed bad for UK PLC as rivals move to adapt. (2016). The Conversation Co-authored with Dr Athanasios Andrikopoulos
  • Risks to Effective Competition in Markets. (2014). http://www.nao.org.uk/wp-content/uploads/2013/12/Roundtable-summary.pdf (pp. 6-9) National Audit Office Round Table Policy Seminar on Public Service Markets, Competition and Markets Authority (CMA), London April 2014.
  • Developing Public Service Markets - Competition and Choice; Insights for regulators, commissioners and policy makers. (2013). http://webarchive.nationalarchives.gov.uk/20140402142426/http:/www.oft.gov.uk/shared_oft/public-markets/OFT1497.pdf Developing Public Service Markets OFT Round Table , February 2013

Television programme

  • Canvis en les polítiques comercials per la caiguda de la lliura al Regne Unit. TV3 Catalan Television, Spain (2016). Changes in groceries' prices as a result of the decline in the pound in the UK http://www.ccma.cat/tv3/alacarta/programa/canvis-en-les-politiques-comercials-per-la-caiguda-de-la-lliura-al-regne-unit/video/5633570/

Other

  • Teaching and executive education Financial Ombudsman Service, London, 2015 Training course on economic markets, asymmetric information and behavioural economics for the senior management of the FOS. Ofgem (Office for gas and electricity markets), London, February 2008- January 2012 Training courses on energy competition and regulation for energy markets regulators. Liaoning Province Prices Bureau, Government of China, Croydon, December 2010 Overview of competition policy in energy in the UK. Executive Summer School & Conference on Competition and Regulation (CRESSE), Greece, June 2006, June 2007, June 2008, June 2009 2-day intensive course in competition economics and game theory . Ofgem (Office for gas and electricity markets), London, October 2002 - October 2007 Training courses on energy competition and regulation for energy markets regulators. SINOPEC (www.sinopec.com.cn), Sino-Bridge International Ltd., London March 2006 Introduction of competition in the UK energy market. Cass Business School, London, MSc Shipping Trade and Finance, June 2001 Four 3-hour lectures for the module “Frontiers of Strategy and International Business” for the MSc in Shipping Trade and Finance. Cass Business School, London, MSc Shipping Trade and Finance, May 2000 3-hour executive seminar on the theoretical economic foundations of mergers and acquisitions. Invited talks and seminars on the topic of behavioural economics insights in consumer and firm behaviour and implications for regulatory and competition policy: • Global Law and Governance Summer School, European Public Law Organisation (EPLO), Sounio, Greece, 2014 • Global Law and Governance Summer School, European Public Law Organisation (EPLO), Sounio, Greece, 2013 • The Regulators’ Forum, London, 2011 • Annual Symposia of Regulatory Affairs, Centre of Parliamentary Studies, London, 2011 • Annual Symposia of Regulatory Affairs, Centre of Parliamentary Studies, London, 2010 • The Local and National Regulators Annual Conference, London, 2010 Invited round table panellist contributions and talks on the issues and challenges surrounding competition and regulation in public service markets: • CCRP Competition Policy Round Table panellist, City University London, January 2015 • National Audit Office, Public Service Markets Worksop, London, October 2014: Expert speaker • National Audit Office, London, June 2014: Keynote speaker • National Audit Office Round Table panellist, Competition and Market Authority (CMA), London, April 2004 http://www.nao.org.uk/wp-content/uploads/2013/12/Roundtable-summary.pdf • Office of Fair Trading (OFT) Round Table panellist, London February 2013 http://webarchive.nationalarchives.gov.uk/20140402142426/http:/www.oft.gov.uk/shared_oft/public-markets/OFT1497.pdf COMPETITION POLICY ROUND TABLES ORGANISER Public service markets: Competition Priorities, Oversight and Regulation, 19th Centre for Competition and Regulatory Policy, City University London, January 2015 The British Utility Regulation Model: Beyond Competition and Incentive Regulation? Centre for Analysis of Risk and Regulation (CARR) with Institute of Economic Affairs and Centre for Competition and Regulatory Policy, London School of Economics, March 2014 Competition and Deregulation Boundaries: Concurrency and its Future, 17th Centre for Competition and Regulatory Policy, City University London, January 2014 Competition Authority Market Inquires and their Future, 15th Centre for Competition and Regulatory Policy, City University London, January 2013 The UK Competition Regime Institutional Reforms, 13th Centre for Competition and Regulatory Policy, City University London, January 2012 .