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Untangling FRAND: what price intellectual property?


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Depiction of System failure: a problem for behavioural economists?
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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

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Depiction of Bits of advice: how to regulate data access
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Bits of advice: how to regulate data access

Recent policy reports point towards differential access to data as a source of market power and a barrier to competition, especially (but not exclusively) in markets for digital services. One controversial policy solution currently being debated is mandated data-sharing. If this is the way forward, how should the regulation be designed? In this first article of a new series, we explore the merits and pitfalls of two classic regulatory approaches—rules-based and goals-based regulation—and what the best of both worlds might look like in the case of digital markets. Read More