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Articles
Depiction of The role of sustainability in merger control
4 minute read

The role of sustainability in merger control

The recent focus on sustainability in the context of coordination agreements and in state aid cases1 has now spread to merger control.2 This article addresses how sustainability fits into the merger assessment framework and what we can learn from environmental economics and the economics of climate change… Read More

Articles
Depiction of Data-enabled learning: policy implications
8 minute read

Data-enabled learning: policy implications

Despite superficial similarities, data-enabled learning does not necessarily create network effects, and when it does, data network effects are usually weaker and less conducive to lock-in than standard network effects. In this article, Andrei Hagiu, Associate Professor of Information Systems at Boston University, and Julian Wright, Oxera Associate and… Read More

Articles
Depiction of Trade-offs for take-off: domestic aviation in a post-pandemic world
6 minute read

Trade-offs for take-off: domestic aviation in a post-pandemic world

Several European governments have provided support to their national airlines and airports amid the COVID-19 pandemic. At the same time, they have committed to a green recovery, pledging to decarbonise their domestic transport sectors in order to reach their net-zero goals. What decisions and trade-offs might governments need to… Read More

Articles
Depiction of Working from home: shove or nudge?
4 minute read

Working from home: shove or nudge?

Three letters alone can describe the last 12 months for millions of people: W-F-H. Working from home is no longer a niche arrangement. Overnight, whole sectors of the economy abandoned the office in favour of the kitchen table, sofa or garage. There are, of course, pros and cons to… Read More

Articles
Depiction of When regulators innovate, does innovation prosper?
9 minute read

When regulators innovate, does innovation prosper?

In the third of a series of articles about digital markets,1 we look at the potential impact of proposed digital regulation on innovation. The European Commission’s proposals for the Digital Markets Act (DMA) aim to promote innovation by making markets more contestable. Contestability is an important driver of… Read More

Articles
Depiction of Shining the light: the merits of on- vs off-exchange trading
8 minute read

Shining the light: the merits of on- vs off-exchange trading

Many financial assets trade away from exchanges in over-the-counter (OTC) markets. The academic literature has highlighted the value of both the OTC and exchange trading models but also notes some inefficiencies of the OTC model from an overall market design perspective. Getting the right balance between OTC and exchange… Read More

Articles
Depiction of 5G spectrum: the varying price of a key element of the 5G revolution
5 minute read

5G spectrum: the varying price of a key element of the 5G revolution

The latest auction for 5G frequencies in the UK has generated lower prices than in the past, surprising  some commentators. We share some reflections on this outcome by also comparing previous 5G auctions in Italy and the UK. Devices such as mobile phones require signals to connect to one… Read More

Articles
Depiction of Post-COVID airport regulation: a clear path?
8 minute read

Post-COVID airport regulation: a clear path?

In April 2020, as governments around the world imposed travel restrictions, we asked what the long-term effects would be for the aviation sector, with a focus on the implications for economic regulation.1 One year on, many restrictions remain. In this article, we ask: what has happened since? What… Read More

Articles
Depiction of RIIO-ED2 Sector Specific Methodology Decision: on track to net zero?
7 minute read

RIIO-ED2 Sector Specific Methodology Decision: on track to net zero?

In December 2020, Ofgem published its Sector Specific Methodology Decision (SSMD) for the RIIO-ED2 price control covering the electricity distribution (ED) sector. In this article, we review Ofgem’s RIIO-ED2 SSMD and compare some of its elements with Ofgem’s recent Final Determinations (FDs) for the gas distribution and gas and… Read More

Articles
Depiction of CMA PR19 Final Determinations
13 minute read

CMA PR19 Final Determinations

On 17 March, the Competition and Markets Authority (CMA) published its summary of Final Determinations (FDs) of Ofwat’s PR19 price review for four disputing companies (Anglian Water, Bristol Water, Northumbrian Water and Yorkshire Water), following a reference from Ofwat at the request of each company. This article provides commentary… Read More

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