Fares fair? The economics of setting ticket prices
Regulated rail fares in Great Britain are set to rise by 3% in real terms for each of the next three years, while the entire approach to fares setting is about to be subject to formal review. There are important economic issues surrounding these changes, such as the empirical evidence on how passengers respond to fare changes, and the types of fares regulation that might be introduced.
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
Market differentiation in consumer goods: one size fits all?
Consumer goods have seen significant price rises lately, driving up general inflation levels. Some retailers point to territorial supply restrictions limiting their ability to secure lower wholesale prices—they consider these to be anti-competitive. This article considers two specific economic aspects of this discussion: first, it reflects on the effect… Read More