Agenda Archive

Water mergers: what are the prospects going forward?

May 2005

Historically, the merger regime in the England and Wales water sector has restricted merger activity in order to protect comparative competition. However, recent developments suggest that comparative competition in water is now less important than it once was. Mergers are therefore more likely to be facilitated in future.

Reform of Article 82: where the link between dominance and effects breaks down

May 2005

The reform of Article 82 is high on the EU competition policy agenda. Many commentators are of the view that abuse of dominance cases should move away from the current form-based approach to an effects-based approach. This article explores one of the fundamental shortcomings of the current approach—the use of dominance determinations as a shortcut to infer anti-competitive effects.

Consumer responses: how quick are they?

May 2005

Ignoring the potential delayed reactions of consumers when thinking about investment, pricing, or competition cases, or when evaluating changes in consumer behaviour, could lead to biased policy conclusions. This article highlights these limitations and presents ways in which they may be overcome. It also discusses implications for undertaking future modelling exercises.

Future secure? Why asset managers locate in London

May 2005

The UK is the largest centre for asset management in Europe, with assets of at least £2.8 trillion under management, and the industry is a major source of income and employment in the UK economy. A recent Oxera study has examined the competitive position of the UK as a centre for asset management, and the major influences, including regulation and tax, which may affect this position in the future.