Behavioural economics has taught us that human decision-making is not perfectly ‘rational’; so to what extent can we expect judges to be free from bias? We explore some recent literature on the topic and discuss potential implications. Although—as human beings—we can never be perfectly free from behavioural bias, our judicial processes can adopt measures to bolster fairness and accuracy in the decision-making process
Increasingly, prices are set by algorithms rather than humans. Many competition authorities have voiced their concerns that this may enable firms (knowingly or otherwise) to avoid competitive pressure and collude. Exactly how would such algorithmic collusion work? And what can businesses and other organisations that use pricing algorithms expect from competition authorities in the future?
The UK’s Global Travel Taskforce, which has been charged with considering how to boost safe travel to and from the UK in light of the COVID-19 pandemic, announced today that from 15 December it will remove the 14-day quarantine requirement for international passengers. This will be replaced with the option to take a test from
The world is seeing an exponential growth in consumer and industry data, triggered by rapid developments in digitalisation such as an increase in the use of Internet-of-Things and data-generating devices including smartphones and connected wearables. There is a growing desire amongst all sectors, including public transport, to understand the value and opportunities that this explosion
There is no one-size-fits-all approach to financing audio-visual (AV) content. Including AV within the scope of the EU’s 2018 Geoblocking Regulation—even with a requisite rights limitation—would erode the contractual freedoms that traders rely on to fund new content creation and distribution. In 2016, Oxera published a report jointly with Oliver & Ohlbaum Associates that modelled the
The European Commission commissioned Oxera to study the functioning of primary and secondary equity markets in the EU. The main objectives of this study are to contribute to the evidence base needed to further advance the Capital Markets Union (CMU), with policies that provide a better environment for listing of companies of different sizes by addressing potential economic and technical barriers related to the EU primary and secondary equity markets. Moreover, the study assesses the prospects for market development and considers the future architecture of EU equity markets.
Multidisciplinary team of Oxera experts provide Claimant with critical support and analysis. In 2014, the European Commission issued the Decision that 11 producers of underground and submarine high-voltage power cables had operated a cartel at various times between 1999 and 2009. The Decision identified multiple elements to the infringement, including the division between European and
Since June 2020, the UK has required all international travellers to the UK, except those arriving from a list of exempt (‘travel corridor’) countries, to quarantine for 14 days. Unlike several other countries, the UK has not introduced any scheme to test travellers for COVID-19. We understand that part of the basis for this policy
Summary UK Government’s 14-day quarantine policy is least effective at preventing Covid-19 from entering the community, compared to all forms of passenger testing. New modelling finds a single test on arrival is twice as effective as the 14-day policy with a test three days pre-departure also 44% more effective than current policy. If a ‘test
On 28 October, Oxera presented a study on future market design challenges in the Italian electricity sector at a webinar hosted by the influential Italian think-thank, AREL. Alfredo Macchiati and Pierpaolo Perna explored the upcoming reforms of the Italian electricity market, highlighting the importance of providing long-term price signals for investors in order to achieve
