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Archive for 2017

13/12/2017 - Initial Assessment of the Cost of Capital

Today the report we compiled for Ofwat, setting out our initial view of the cost of capital for the water sector for 2020-2025, was publised. 

28/11/2017 - TPD2 and standardised tobacco packaging - Impact on prevalence and consumption in France and the UK

 Europe Economics research for Japan Tobacco International published, setting out our econometric analysis of the impacts of TPD2 and plain packaging requirements on consumption and prevalence in France and the UK.

24/08/2017 - The impact of retail display bans around the world on tobacco consumption and prevalence

 Europe Economics econometrics research for Japan Tobacco International published, modelling the impact of retail display bans in Canada, Australia and Europe

30/06/2017 - Report for Citizens Advice: Consumer Rights for Parcels Delivery

Europe Economics' report for the Citizens Advice Service studied consumer rights in e-commerce parcel deliveries and sought to understand consumer problems; assess whether existing consumer protections are sufficient in parcel deliveries; and provide policy options to improve consumer protections. Citizens Advice drew on our report (along with another one by Verve) to write their own report on “Parcel Delivery: Delivery services in the online shopping market”, which they have also published along with a press release.

31/05/2017 - Briefing Note: The Tesco-Booker merger: should we be concerned?

This briefing note, written by our Managing Consultant, Iona McCall, and Analyst, Elena Ashtari Tafti, takes a preliminary look at the potential theories of harm created by the Tesco/Booker merger following the opening of the first phase of the investigation by the Competition and Markets Authority.

27/04/2017 - Briefing Note: Price Comparison Websites: Consumer Saviour or Cause for Concern?

This briefing note gives an insight into the key issues surrounding price comparison websites in the context of the Competition and Markets Authority study of digital comparison tools. Just how beneficial are they to consumers?

31/03/2017 - Briefing Note: A simple illustration of certain benefits of “short-selling”

This note provides a simple description of short-selling practices together with an illustration of the potential benefits it can bring to investors.

30/03/2017 - Briefing Note: Big Data: What does it really mean for competition policy?

A look into the emergence of Big Data, its fundamental importance to businesses and the wider economy, and the critical role of competition authorities in ensuring Big Data is not exploited.  

27/03/2017 - Report: Dynamic Competition in Online Platforms

The Department for Business, Energy & Industrial Strategy (BEIS) has published a new Europe Economics report on dynamic competition in online platform markets. This sets out the economic theory of online platforms and how competition works in that sector and reviews data on a range of such platforms: search engines (e.g. Google), short-term accommodation (e.g. Airbnb), music (e.g. Spotify), car insurance price comparison websites (e.g. GoCompare) and social networks (e.g. Facebook).

01/03/2017 - Report: Cost-benefit Analysis on Draft Technical Standards relating to the Benchmarks Regulation

Europe Economics was commissioned to conduct a cost-benefit analysis on the Technical Standards drafted by ESMA with respect to the implementation of the Benchmarks Regulation. The Benchmarks Regulation extends consistent EU-level regulation to the development of benchmarks. This is in the wake of the LIBOR and related scandals. In the study we considered both the direct compliance costs to market participants, in both qualitative and, where possible, quantitative terms, as well as undertook a qualitative analysis of the potential benefits and other indirect costs. Our project also broke new ground in describing and scaling the market landscape for benchmarks in Europe.

28/02/2017 - Briefing Note: Differentiation and Price Convergence in the Airline Industry

Price comparison websites allow consumers to buy after filtering and comparing products and services provided by different suppliers. Their development was seen as an opportunity to reduce price disparity and advance towards price conversion, but this has not always happened. This note describes how price convergence and differentiation strategies have been observed in the airline industry.

23/02/2017 - Report: Ex ante Impact Assessment of IFRS 16

The European Financial Reporting Advisory Group commissioned Europe Economics to conduct an ex ante impact assessment on the potential impact of IFRS 16 Leases. We analysed the potential impact on the behaviour of lessee companies listed on European Regulated Markets, investors, the leasing industry and other affected stakeholders, and also estimated costs and benefits of IFRS 16. Our work was led by Ross Dawkins. EFRAG's Draft Endorsement Advice references our study, with further details of EFRAG’s ongoing work here.

23/02/2017 - Briefing Paper: Cyber Risk Pool

Faced with a profound growth in the market for cyber risk insurance over the recent years, concerns have arisen regarding the industry’s ability to absorb cyber risk. In this respect, a possible solution that has been proposed is the formation of a cyber liability insurance pool. Accordingly, this briefing paper presents the concept of a cyber risk pool, illustrates its inherent advantages and disadvantages, and discusses the potential implications of a withdrawal of the Insurance Block Exemption Regulation which currently exempts certain types of insurance pools from the application of competition rules.