Paul Heidhues is a Professor of Behavioral and Competition Economics at the Düsseldorf Institute for Competition Economics of the Henrich-Heine University. He is an applied theorist specializing in the fields of industrial organization and behavioral economics and is a member of the European Advisory Group on Competition Policy, the Arbeitskreis Kartellrecht of the Bundeskartellamt, and was a member of the Academic Advisory Board of the Competition and Markets Authority in the UK. His research focuses on the functioning of markets and the impact of regulation when consumers are partly driven by psychological factors – such as social preferences, loss aversion, time-inconsistency, limited attention, or naivete – that the classical consumer model abstracts from.