Oxera

Inspiring better decisions through economics and finance

Articles
Depiction of Interminable: who can read T&Cs?
7 minute read

Interminable: who can read T&Cs?

Many products form a contract between a firm and a customer, the details of which are specified in the terms and conditions (T&Cs). But do customers always understand what they are agreeing to? With the help of a mathematical formula, we find that the reading age and time requirement… Read More

Articles
Depiction of The Consumer Duty: don’t do more—do differently
1 minute read

The Consumer Duty: don’t do more—do differently

The UK Financial Conduct Authority (FCA) has finalised the rules, guidance, and implementation period for the new Consumer Duty. The FCA’s journey The Consumer Duty is the product of 15 years of evolution in the regulation of financial services. It’s not so much a change… Read More

Articles
Depiction of Like an economist at Wimbledon
8 minute read

Like an economist at Wimbledon

To what extent is future success affected by past success? This topical question has implications for many areas of society, including education. However, a new study suggests that the answer may come from an unexpected direction: tennis. We look at why tennis players who are matched against someone of… Read More

Articles
Depiction of Decarbon-nudge?
9 minute read

Decarbon-nudge?

Decarbonisation is one of the largest challenges facing societies across the world, and consumer behaviour has an important role to play in achieving this goal. Behavioural economics shows us that consumer behaviour can be influenced by ‘nudges’ and choice architecture. So what role can nudges play in helping us to decarbonise? Read More

Articles
Depiction of Malbeconomics: taking stock of the 20th anniversary of the 9.99 price point
6 minute read

Malbeconomics: taking stock of the 20th anniversary of the 9.99 price point

Developed economies are facing significant amounts of inflation for the first time in 25 years. Consumer prices, measured according to the Consumer Price Index (CPI), rose by 5.8% on average across OECD countries in the year to November 2021. Will Page, former Chief Economist at Spotify and author of Tarzan Economics, celebrates the 20th anniversary of the 9.99 price point and looks at the role that price points play in an inflationary environment. Read More

Articles
Depiction of Bits of advice: the true colours of dark patterns
13 minute read

Bits of advice: the true colours of dark patterns

Dark patterns are deceptive online interface designs that are used to trick people into making decisions that are in the interests of the online business, but at the expense of the user. In this second article of our ‘bits of advice’ series on digital regulation, we dive into the economics behind dark patterns: what are they; what can economics teach us about how they work; how is digitalisation changing their costs and benefits in the eyes of businesses; and how can competition and consumer protection authorities respond? Read More

Articles
Depiction of Discrimination in labour markets: how does the past affect the future?
9 minute read

Discrimination in labour markets: how does the past affect the future?

A large body of academic literature has sought to explain why members of observably different groups fare so differently in the labour market. Theories of distaste towards certain groups, alongside ‘rational’ models of statistical discrimination, have attempted to explain the well-documented disparities in wages and employment rates that exist between those of different gender, race and nationality. In this article, Eduard Krkoska, Doctoral Candidate in Economics at the University of Oxford and former Oxera intern, explores how these theories interact with each other and develop over time. Read More

Articles
Depiction of System failure: a problem for behavioural economists?
10 minute read

System failure: a problem for behavioural economists?

Recent developments in neuroscience show that decision-making is more complex than the (basic) model of System 1 and System 2 that was formulated for use in behavioural economics by the Nobel Prize-winning psychologist Daniel Kahneman. Recognising the substantial impact of the discipline on public policy and regulation, Peter Andrews—Oxera Senior Adviser and former Chief Economist at the UK Financial Conduct Authority—considers the implications of Kahneman’s model and the emerging critique of behavioural economics. He shows that behavioural economists’ empirical work does not, in fact, rely on the model, and flags the success of many behavioural interventions. Insights from neuroscience are found to have improved the design and impacts of behavioural remedies. Read More

Articles
Depiction of Non-fungible. Non-tangible. Still valuable?
10 minute read

Non-fungible. Non-tangible. Still valuable?

Non-fungible tokens (NFTs) are blockchain-based ownership certificates of all kinds of digital collectables—ranging from pixelated cats to canonical YouTube videos and even recordings of unique moments in sport. The market for NFTs has skyrocketed. But what are they exactly? And what is driving their value? With the help of Oxer-cat, the first Oxera NFT, we aim to answer these questions, and provide an overview of possible challenges and future developments for NFTs. Read More

Articles
Depiction of The working week: a way four-ward?
9 minute read

The working week: a way four-ward?

In many countries, the five-day working week is an institution so culturally ingrained that we rarely, if ever, pause to ask the question: is there a better way of doing things? Questions like this are increasingly coming to the fore: the pandemic turned many of our lives upside down,… Read More

What's on your mind?

Get in touch to talk to our team