Nicolas Eschenbaum

AI, industrial organization & competition policy.

Nicolas Eschenbaum

I’m an economist and competition expert, and a Managing Economist and partner at Swiss Economics, where I lead the AI practice. I prepare expert reports in competition cases, advise authorities including the European Commission, and research algorithmic pricing, digital markets, and AI as an affiliated researcher at the Zurich Center for Market Design (UZH).

What I research

  • Algorithmic pricing and collusion: designing and implementing pricing algorithms, and how rivals that share one algorithm provider compete.
  • Multi-agent AI risk: how learning agents come to coordinate without instruction, and how to audit them from their policies alone.
  • AI markets: market power, switching costs, and lock-in in foundation models (research note).
  • Digital markets and regulation: platform competition and the Digital Markets Act.
  • Energy markets: pricing, market power, and the design of electricity-trading platforms.

See Research for papers and Applied Work for selected projects; my CV has the full record.

Contact: nicolas.eschenbaum [at] swiss-economics.ch for expert work and engagements; nicolas.eschenbaum [at] gmail.com for research.

Recent

Module on the economics of AI for an online course of the Asian Development Bank Institute.
Talk at the EURO Working Group on Revenue Management & Pricing workshop, Barcelona.
Panellist, “The Next Wave of Tech Enforcement: Global Trends in Regulating Platforms and Algorithms,” AIJA Antitrust Annual Conference, Düsseldorf.
Talk, “Market Power and Platform Design in Decentralized Electricity Trading,” EARIE Annual Conference, Mannheim.
Talk, “Algorithmic Pricing in Practice and Collusion,” ASCOLA Annual Conference, London.
Invited talk on the DMA’s impact for Switzerland, State Secretariat for Economic Affairs (SECO), Bern.
Started leading the competition-economics analysis, in particular on third-party algorithmic pricing, in a study on pricing algorithms and collusion for the European Commission (DG COMP).

Selected research

  1. Shared Bidding Algorithms and Competition: Evidence from Electricity Markets
  2. Auditing Algorithmic Collusion from Strategy Graphs
  3. Selective Confusion: An Empirical Analysis of the DMA’s Brussels Effect
  4. Robust Algorithmic Collusion

All research