Cost–benefit analyses for public policy
Cost–benefit analyses (CBA) are commonly applied to public infrastructure projects where there is a degree of certainty about the physical output of the project and the consequent societal benefits. CBA can also be applied to proposed policy and regulatory changes, but there is less clarity about the outcomes and the… Read More
This week in economics
Delving into recent news through the lens of economics, this first episode of This week in economics tackles what’s caused the recent exodus from X and what the impacts for the social media market could be, and explores the potential impact of President-elect Donald Trump’s proposed tariffs for the global… Read More
Podcasts
Is dynamic pricing an ambush or advantage for consumers?
The debate as to whether or when dynamic pricing is fair and reasonable continues, and there are even calls for it be banned. Dynamic pricing has been in the news recently, with backlash from fans trying to secure a ticket to see Oasis in concert. You will have experienced dynamic… Read More
Economics of the Data Act: part 1
As electronic sensors, processing power and storage have become cheaper, a growing number of connected IoT (internet of things) devices are collecting and processing data in our homes and businesses. The purpose of the EU’s Data Act is to define the rights to access and use data generated by… Read More
Digital securities and English law: the gold standard?
The UK Jurisdiction Taskforce (‘UKJT’), part of LawtechUK, has produced a Legal Statement on how English law supports the use of distributed ledger technology in equity and bond markets (also known as ‘digital securities’).1 To inform and support UKJT’s work, LawtechUK commissioned Oxera to provide economic analysis of the… Read More
Most-favoured-nation clauses: how to assess their competitive effects?
Most-favoured-nation clauses (MFNs) remain a hot topic in competition policy. The direction of travel has generally been one-way, with the UK and European vertical block exemption regimes designating wide MFNs as hardcore or excluded restrictions, and both wide and narrow MFNs being prohibited for designated gatekeepers under the EU’s… Read More
Agents of change: bringing economic models closer to reality
Ever wondered how economic models can describe people and their behaviour? Agent-based modelling (ABM) may be the answer. It allows economists to explore complex systems and phenomena in a bottom-up, data-driven way. Unlike traditional economic models, which are often constrained by assumptions and simplifications, ABM offers a flexible and… Read More
Undertaking capital projects: linking risk and return
Whether they relate to the energy transition, the renewal of transport infrastructure, or reversing damage to the environment, our society will increasingly need to undertake large capital projects. It will be important to identify the projects’ risks and determine who is responsible for managing these and reducing their likelihood. Read More
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 of… Read More
To tax or not to tax: will an online sales tax rebalance the retail sector?
The growth of online sales has prompted debate around whether an online sales tax (OST) should be introduced to ‘rebalance’ the taxation of the retail sector. Indeed, the evolution of retailing in the UK has implications for several key government policy areas. We revisit the topic, which we explored in a 2020 Agenda article, in light of the recent launch of an HM Treasury consultation on the introduction of an OST. Read More