The transport sector combines areas of intense competition with elements of detailed economic regulation. Regulators rely heavily on economic analysis in developing their policies, and companies can benefit from the same advice in understanding how their business will be affected by change and how best to respond. There is debate to be had between methods of analysis that emphasise strategic goals for transport systems and those that rely more on shorter-term cost / benefit assessments.
The economic skills relevant to transport sector issues include market analysis, investment appraisal, economic modelling, pricing techniques and cost of capital assessment.
Economics provide well-tried tools for assessing the impact of new policies at national or sectoral level - on individual firms and on consumers. Techniques have been developed for putting values on the costs imposed on society from climate change, and on the benefits to be expected from policies aiming to reduce harmful emissions.
We have worked closely with regulators on the development of airport pricing regimes and the impact of mergers. We have advised the European Commission on policy impact assessments, and have carried out ex post reviews of policy changes in the taxi market and the market for car warranties.
Recent clients include the European Commission, The Civil Aviation Authority, the Commission for Aviation Regulation (Irish Republic) and the Office of Fair Trading.
Our in-house team in this field include: Dermot Glynn, Stephen Topping and Pau Salsas.