Regulation

We routinely apply economics and empirical techniques to the assessment of regulation. 

The proliferation of directives and national rules, together with differences in their enforcement between countries, has turned regulation into a complex and difficult area.

We have the skills and experience to assist in-house counsel, regulatory teams and their legal advisers to undertake the economic, financial, cost-benefit, and/or empirical analyses required as part of the regulatory process, whether in formal consultations or litigation.

Network industries in particular raise a host of technical issues which challenge economics and the law. Frequently these cannot dealt with by consulting economics textbooks, but require innovative thinking and analysis based on first principles, recent developments in economics, and sound empirical analysis. The regulation of network industries also gives rise to cost and pricing issues which must be addressed in an economic and legal framework which takes into account their impact on investment, innovation, future competition and consumer welfare. Often this is controversial, and the options reflect legitimate differences of views which require inevitable tradeoffs. 

We also undertake Impact studies of the effects and cost-benefit assessments of proposed and existing regulations including social regulation such as health and safety regulation, advertising restrictions and health related packing regulation.

Recent assignments:

  • empirical analysis of impact of plain packaging
  • empirical analysis of impact on cigarette sales of graphic displays on cigarette packets
  • regulation of UK independent TV programme sector
  • review of price control regulation of UK airport
  • market and Significant Market Power (SMP) assessments under the EC New Regulatory Framework for communications
  • measures to mitigate market power in energy markets
  • assessment of wholesale and retail competition in energy and water sectors
  • network unbundling in telecoms and energy sectors
  • assessment of cost allocation and cross-subsidy
  • analysis of media and cross-media ownership rules
  • regulated access terms in energy and telecoms networks
  • appeals against national regulatory authority decisions
  • market analysis for broadband services
  • local loop unbundling (LLU)
  • cost benefit analysis of financial services regulations
  • assessment of net benefits of water regulation
  • line of business restrictions in video services
  • regulation of national roaming services
  • regulation of national and international leased lines
  • economic and financial impact of FM radio licensing
  • International benchmarking
  • Universal Service Obligations (USO)
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