Dr. Andrea Maria Günster

Work at ZHAW

Position

• Senior Lecturer
• Project Manager
• PhD Advisor

Focus

• Information Systems, Applied Econometrics, Data Science, Machine Learning, Microeconometrics, Industrial Economics
• PhD Supervision Dark Rate Estimation - Nicole Bellert (UZH) (2019-2026)
• PhD Supervision Network - Eddy Lazebnyj (USI) (2025-)
• PhD Supervision Point Process Estimation - Luca Persia (USI) (2025-)

Teaching

• PhD Supervision (2019-)
• MSc Thesis Supervision (2005-)
• BSc Thesis Supervision (2005-)
• SML ZHAW - Smart Data Analytics for Financial Assets (Course Coordinator 2020-2026)
• SML ZHAW - Empirical Methods in Economics (Course Coordinator 2020-2026)
• SML ZHAW - Certificate of Advanced Studies (CAS) Data Engineering: From Inferential Statistical Analysis to (Big) Data Analytics (2021-2023)
• SML - ZHAW Competition Policy (Course Coordinator 2017-2023)
• SML ZHAW - Master of Advanced Studies (MAS) Business Administration: Empirical Analysis of Competition & Markets (2017-2020)
• SML ZHAW - Macroeconomics (2016-2022)
• SML ZHAW - Microeconomics (Course Coordinator 2016-2021, Program in English)
• ETH - Instructor Law & Finance Seminar Series (Graduate) (2010-2016)
• Maastricht University - Strategy (Undergraduate) (Before 2010)
• Maastricht University - Management of Organizations (Undergraduate) (Before 2010)
• Maastricht University - Business Innovation (Undergraduate) (Before 2010)
• Maastricht University - Economics of Strategy (Graduate) (Before 2010)
• Maastricht University - Industrial Organization (Undergraduate) (Before 2010)

Experience

• Post-Doc
  ETH Zurich
  01 / 2010 - 01 / 2016
• PhD Student
  Maastricht University
  09 / 2005 - 01 / 2010
• Visiting Fellow
  Purdue University
  09 / 2008 - 03 / 2009
• Visiting Fellow
  University of Amsterdam
  09 / 2006 - 02 / 2007

Education and Continuing education

Education

• PhD / Industrial Economics
  Maastricht University
  09 / 2005 - 09 / 2010
• MSc Economics with Major Econometrics / Econometrics and Money & Banking
  Maastricht University
  09 / 2000 - 09 / 2005
• Visiting Graduate Student / Econometrics
  Universidad Carlos III
  01 / 2003 - 09 / 2003

Continuing Education

Certificate of Advanced Studies Natural Language Processing
ZHAW
08 / 2022

Network

Membership of networks

• American Economic Association (AEA)
• PhD Network in Data Science
• European Association for Research in Industrial Economics (EARIE)
• The Swiss Society of Economics and Statistics

ORCID digital identifier

ORCID ID: 0000-0002-6053-7091

Awards

• SML Research Project Award Quantifying Illegal Activity (CHF3’000)
  SML ZHAW
  08 / 2023
• DIZH Fellowship
  DIZH - ZHAW digital
  06 / 2022

Social media

LinkedIn

Media presence

Tages-Anzeiger Megatrend of the Future, July 16, 2022

Projects

• Quantifying Illegal Activity: Estimating Dark Rates and Predicting Offenses / Project leader / completed
• Dark Rates in Crime / Project leader / completed
• Gamification: A browser-based Tool for Experiments / Deputy project leader / completed
• PhD Network in Data Science / Team member / completed

Publications

Articles in scientific journal, peer-reviewed

• Günster, A. M., Jud, R., & Schwendner, P. (2025). Explaining new issuance premiums in the US corporate bond market (2016–2020). The Journal of Financial Data Science, 7(3), 8–21. https://doi.org/10.3905/jfds.2025.1.192
• Günster, A. (2021). Effektivität Schweizer Wettbewerbspolitik : Bewertung des Aktienmarktes (1996– 2018). Sic! Zeitschrift für Immaterialgüter-, Informations- und Wettbewerbsrecht, 2021(4), 159–167.
• Günster, A. M., & Martin, S. (2015). A holy alliance : collusion in the Renaissance Europe alum market. Review of Industrial Organization, 47(1), 1–23. https://doi.org/10.1007/s11151-015-9465-0
• Günster, A. M., & van Dijk, M. (2015). The impact of European antitrust policy : evidence from the stock market. International Review of Law and Economics, 46, 20–33. https://doi.org/10.1016/j.irle.2015.12.001
• Carree, M., Günster, A. M., & Schinkel, M. P. (2010). European antitrust policy 1957–2004 : an analysis of commission decisions. Review of Industrial Organization, 36(2), 97–131. https://doi.org/10.1007/s11151-010-9237-9

Books, peer-reviewed

• Russo, F., Schinkel, M. P., Günster, A. M., & Carree, M. (2010). European Commission decisions on competition : economic perspectives on landmark antitrust and merger cases (1. Auflage). Cambridge University Press. https://doi.org/10.1017/CBO9780511730078
• Günster, A. M. (2010). On European antitrust enforcement [Doctoral dissertation]. Maastricht University.

Written conference contributions, peer-reviewed

• Bellert, N., Günster, A., & Kozbur, D. (2026, January 5). Estimating dark figures of crime. Annual Meeting of the Allied Social Science Associations (ASSA), Philadelphia, USA, 3-5 January 2026. https://doi.org/10.21256/zhaw-37348
• Bellert, N., Günster, A. M., & Kozbur, D. (2023, July 2). Simulating collusion : challenging conventional estimation methods. 17th International Conference on Competition and Regulation (CRESSE), Ixia, Greece, 30 June - 2 July 2023. https://www.cresse.info/wp-content/uploads/2023/09/2023_ps12_pa4_Bellert.pdf
• Bellert, N., Günster, A. M., & Kozbur, D. (2023, June 20). Simulating collusion – challenging conventional estimators. 24th ACM Conference on Economics and Computation, London, United Kingdom, 19-23 June 2023.
• Günster, A., & Maillart, T. (2022). Certainty and modification in European antitrust law : the exponential growth of a landmark case system and its determinants. 49th Annual Conference of the European Association for Research in Industrial Economics (EARIE), Vienna, Austria, 25-27 August 2022.
• Günster, A. (2017). Enforcement of European competition policy : impact on competition and efficiency [Conference paper]. In P. Krauskopf & F. Babey (Eds.), Internationales Wirtschaftsrecht : Recht im Wandel zwischen Globalisierung und Re-Nationalisierung (pp. 106–114). Helbing & Lichtenhahn.
• Günster, A., Carree, M., & Schinkel, M.-P. (2008). An analysis of court of appeal rulings in the EU, 1964-2000. 6th Annual International Industrial Organization Conference, Washington D.C., USA, 16-18 May 2008. https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=IIOC2008&paper_id=443
• Schinkel, M.-P., Carree, M., & Günster, A. (2007). European antitrust policy : an analysis of commission decisions during 1964-2002. International Industrial Organization Conference 2007, Savannah, USA, 14-15 April 2007. https://editorialexpress.com/cgi-bin/conference/download.cgi?db_name=IIOC2007&paper_id=477

Written conference contributions, not peer-reviewed

Bellert, N., & Günster, A. M. (2026, July 5). Simulating collusion and enforcement. 20th International Conference on Competition and Regulation (CRESSE), Kos, Greece, 3 - 5 July 2026. https://www.cresse.info/wp-content/uploads/2026/08/2026_ps19_pa1_presentation.pdf

Oral conference contributions and abstracts, peer reviewed

• Bellert, N., Günster, A. M., & Kozbur, D. (2025, August 29). Estimating dark figures : an application to collusion. 52nd Annual Conference of the European Association for Research in Industrial Economics (EARIE), Valencia, Spain, 28-30 August 2025.
• Bellert, N., Günster, A. M., & Kozbur, D. (2025, August 28). Estimating dark figures : an application to cybercrime. 52nd Annual Conference of the European Association for Research in Industrial Economics (EARIE), Valencia, Spain, 28-30 August 2025.
• Bellert, N., Günster, A. M., & Kozbur, D. (2025, June 27). Quantifying illegal activity : estimating dark figures in cybercrime. SSES Annual Congress, Zurich, Switzerland, 26-27 June 2025.
• Persia, L., Lazebnyj, E., Günster, A. M., Kozbur, D., & Decerle, J. (2025, June 26). Predicting burglaries : a machine learning approach for low-density crime areas. Annual Congress of the Swiss Society of Economics and Statistics (SSES/SGVS), Zurich, Switzerland, 26-27 June 2025.
• Günster, A., & Maillart, T. (2022). Certainty and modification in European antitrust law : the exponential growth of a landmark case system and its determinants. 6th Annual Conference on Competition Policy, Bergen, Norway, 2-3 June 2022.
• Carree, M., Günster, A., & Van Dijk, M. (2022). The fat cat effect of cartels. 22nd EURAM Annual Conference, PhD Colloquium, Winterthur, Switzerland, 13-14 June 2021.
• Günster, A., Hertig, G., & Van Dijk, M. (2022). Cartels and ownership concentration. 6th Annual Conference on Competition Policy, Bergen, Norway, 2-3 June 2022.
• Bellert, N., Günster, A. M., & Kozbur, D. (2022, August 26). Simulating collusion : challenging conventional estimation methods. 49th Annual Conference of the European Association for Research in Industrial Economics (EARIE), Vienna, Austria, 25-27 August 2022.
• Carree, M., Günster, A., & van Dijk, M. (2017). The fat-cat effect of cartels. 44th Annual Conference of the European Association for Research in Industrial Economics (EARIE), Maastricht, Netherlands, 31 August - 2 September 2017.
• Günster, A. (2017). The fat cat effect of cartels n. Bergen Competition Policy Conference, Bergen, Norway, 27-28 April 2017.
• Günster, A. (2016). Dynamische Preise : Zweck und Nutzen. Schweizer Forum für Kommunikationsrecht «Dynamic Pricing», Zürich, 7. Juni 2016.
• Günster, A. (2015). Enforcement of european competition policy : impact on competition and efficiency. Swiss IO Day 2015, Bern, 5 June 2015.
• Günster, A., Hertig, G., & van Dijk, M. (2014). Cartels and ownership concentration. 41st Annual Conference European Association for Research in Industrial Economics (EARIE), Milan, Italy, 29-31 August 2014.
• Günster, A., Hertig, G., & van Dijk, M. (2014). Cartels and ownership concentration. 24th Annual Meeting American Law and Economics Association, Chicago, USA, 8-9 May 2014.
• Günster, A., Hertig, G., & van Dijk, M. (2014). Cartels and ownership concentration. 12th Annual International Industrial Organization Conference, Chicago, USA, 11-13 April 2014.
• Günster, A. (2014). The fat cat of cartels. Transatlantic Workshop on Intellectual Property Research, Zürich, 13-14 January 2014.
• Günster, A. (2014). Enforcement of European competition policy : the impact on competition and efficiency. Munich Conference on Innovation and Competition (MCIC 2014), Kreuth, Germany, 23-25 June 2014.
• Günster, A., & van Dijk, M. (2013). The financial structure of international cartels : leverage, cash holdings and corporate governance. 11th Annual International Industrial Organization Conference, Boston, USA, 17-19 May 2013.
• Günster, A. M., & Klein, G. (2013). Enforcement of european competition policy : impact on competition and efficiency. Jahrestagung 2013 Des Vereins Für Socialpolitik, Düsseldorf, Deutschland, 4.-7. September 2013.
• Ganglmair, B., & Günster, A. (2012). Separation of powers : the case of antitrust. 29th Annual Conference of the European Association of Law and Economics (EALE 2012), Stockholm, Sweden, 20-22 September 2012.
• Günster, A. (2012). Do cartels undermine economic efficiency?. Annual Meeting of the Allied Social Science Associations (ASSA), Chicago, USA, 6-8 January 2012.
• Günster, A. (2012). Innovation and certainty in law : the European court of justice landmark case system in antitrust. Third Workshop for Junior Researchers on the Law & Economics of Intellectual Property and Competition Law, Kreuth, Germany, 18-20 June 2012.
• Carree, M., Günster, A., & Schinkel, M. P. (2012). Court of appeals rulings in EU antitrust enforcement : a review of the first 50 years. 10th Annual International Industrial Organization Conference, Arlington, USA, 16-18 March 2012.
• Günster, A. (2011). Do cartels undermine economic efficiency?. 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011.
• Günster, A. (2011). Separation of powers : the case of antitrust. Second Workshop for Junior Researchers on the Law & Economics of Intellectual Property and Competition Law, Kreuth, Germany, 5-7 June 2011.
• Carree, M., Günster, A., & van Dijk, M. (2010). The performance of european cartels 1980-2007 : an investigation of the effect of cartel formation on profitability, productivity and innovativeness. 8th Annual International Industrial Organization Conference, Vancouver, Canada, 14-16 May 2010.
• Günster, A., Carree, M., & van Dijk, M. (2010). Do cartels undermine economic efficiency?. ZEW Competition Policy Forum, Mannheim, Germany, 18 March 2010.
• Günster, A., Carree, M., & van Dijk, M. (2010). Do cartels undermine economic efficiency?. 4th CLEEN Workshop, Amsterdam, Netherlands, 21 April 2010.
• Günster, A., Carree, M., & van Dijk, M. (2009). Do cartels undermine economic efficiency. 36th EARIE Annual Conference, Ljubljana, Slovenia, 3-5 September 2009.
• Günster, A. M. (2008). European antitrust policy : an analysis of court of appeal rulings in the EU : 1957 - 2000. EC Competition Enforcement Data, Amsterdam, Netherlands, 10.-11. April 2008.
• Günster, A. M. (2008). The effectiveness of European antitrust policy : evidence from the stock market. 35th EARIE Annual Conference, Toulouse, France, 4.-9. September 2008.
• Carree, M., Günster, A., & Schinkel, M.-P. (2007). European antitrust policy 1957–2004 : an analysis of commission decisions. CCP PhD Workshop 2007, Norwich, United Kingdom, 1 June 2007.
• Carree, M., Günster, A., & Schinkel, M.-P. (2006). European antitrust policy 1957–2004 : an analysis of commission decisions. 33rd EARIE Annual Conference, Amsterdam, Netherlands, 25-27 August 2006.

Other publications

• Invited Talk - National Cyber Security Center (Bundesamt f¨ur Cybersecurity (BACS)), Bern (2026)
• Invited Talk - Université Paris Nanterre, Economic Seminar Series, Paris 2026
• Invited Talk - Universita della Svizzera Italiana (USI), Computational Science Seminar Series, Lugano (2025)
• Invited Talk - University of Amsterdam, ACLE Brownbag Seminar Series, Amsterdam (2006)

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