Pál Valentiny, PhD (1996), after receiving MA degree in economics, joined the Institute of Economics, Hungarian Academy of Sciences in 1971. He was invited by the University of Sussex (1980), University of Nottingham (1991) and University of Cambridge (1991) as visiting fellow. His principal interests lie in the theory of regulated markets, regulation and privatization of network utilities and economic aspects of competition policy. His research has also focused on public procurement issues, innovation policies, corporate governance, ICT and growth. His teaching experience covers the Budapest University of Technology and Economics, Corvinus University, Budapest, Rajk László College, Erasmus College, University of Veszprém, Invisible College and the Karl Marx University of Economics. He was adviser to the Hungarian Communication Authority (1995-2003) and to the Hungarian Railways (1997-2002) on regulatory and restructuring issues. He has regularly provided assistance to the Hungarian Competition Authority in economic aspects of competition policy issues. He was member of the Board of Directors at the Hungarian Power Companies Ltd (1994 – 1998) and the Budapest Gas Company Ltd (1993-2007). He has advised the Budapest Municipality on privatization strategies.