Spyros joined Oxera’s Competition, Litigation and Modelling teams in 2011. His work focuses on competition investigations and antitrust disputes across a range of industries and jurisdictions. He has advised clients in cases involving horizontal mergers, and has particular expertise in the quantification of damages in relation to Article 101 and 102 TFEU cases.

Spyros is a regular speaker at external training courses, and has presented on competition economics in Belgium, Germany and the UK. He has also completed a secondment at Ofcom, the UK communications regulator, where he worked on competition issues. Before joining Oxera, he completed internships at the Chief Economist’s team of the Office of Fair Trading and at the Research Department of the Bank of Greece.

Selected project experience

  • Examined the effect that information exchange had on container shipping charges set by a large international shipping company (2016–17)
  • Carried out a quantification of the damages suffered by a microbrewery resulting from the abusive behaviour of a dominant company (2016­­–17)
  • Provided economic support in order to assess the effects of exclusionary behaviour by a dominant third party (2016)
  • Advised a large UK grocery retailer during investigations by the CMA regarding the acquisition of third-party convenience stores (2016)
  • Assisted a number of UK-based manufacturers in quantifying the damages to their profitability from a European-wide cartel (2015–16)
  • Assisted a large producer of chemical compounds in settlement discussions, following a European Commission investigation (2015)
  • Evaluated the potential damages for a French telecoms provider resulting from an abuse of dominance case (2015)
  • Examined the closeness of competition between two product assurance companies, which determined their decision to merge their operations (2015)
  • Undertook econometric analysis to assist a large buyer of electrical equipment to reach a settlement with cartel members (2014–15)
  • Provided economic support to an international logistics company following allegations brought forward by the French Competition Authority (2014–15)
  • Assisted National Grid in the quantification of damages from the European gas insulated switchgear cartel (2013–14)
  • Provided advice to an insurance company on the UK Competition Commission investigation into personal motor insurance (2013–14)
  • Assessed the closeness of competition between two healthcare providers during a merger investigation at the Competition Commission (2013)
  • Provided economic analysis regarding anticompetitive practices for a FTSE 250 company in a damages claim against its suppliers (2012–13)
  • Provided advice to a hedge fund on the market definition likely to be adopted by the European Commission in a high-profile merger Decision (2012)
  • Contributed to the econometric analysis of aviation data for a large European airline, as part of a merger investigation by the European Commission (2012)
  • Assisted two European airlines, which wished to enter into a code-sharing agreement, in preparing their submission to the UK Office of Fair Trading (OFT) (2012)
  • Undertook a regulatory impact assessment of a number of measures proposed by the Irish Commission for Communications Regulation (ComReg) (2012)
  • Examined and evaluated the approaches that can be employed to assess the relative efficiency of the national gas transmission operator in the Netherlands (GTS), for the Dutch regulator (NMa) (2012)
  • Assisted a large retailer, which planned to acquire several petrol stations, in preparing its submission to the OFT (2012)
  • Provided economic advice to MasterCard UK Members Forum during an investigation into interchange fees (2011)
  • Contributed to an article focusing on the ongoing debate about the importance of market definition and unilateral effects metrics in merger investigations (2011)
  • Provided competition advice on a travel agency joint venture between Thomas Cook Group, the Co-operative Group, and Midlands Cooperative Society (2011)
  • Modelled and analysed aviation data for a large European airline as part of an ongoing merger investigation by the OFT (2011)
  • Provided advice to a UK train operator on how its consumers responded to changes in fares, and assisted with the development of its fares strategy (2011)
  • Assisted in the quantification of damages for claimants in the London High Court damages action, following on from the European Commission’s finding of a cartel in air cargo (2011)


  • Droukopoulos, S. and May, J. (2016), ‘Estimating the overcharge caused by cartels: a comparison of two popular approaches’, Competition Law Journal, 15:2, pp. 107–13.
  • Droukopoulos, S., Chowdhury, A. and Johnson, M. (2015), ‘Most-favoured-nation clauses in the e-commerce sector: an economist’s point of view’, Competition Law Journal, 14:2, pp. 153–8.


  • MSc Management and Economics, London School of Economics
  • MPhil Economics, University of Oxford
  • Bachelor of Economic Science (Hons), University of Manchester