The Changing Model of Economic Regulation in the United Kingdom | University of Oxford

The Changing Model of Economic Regulation in the United Kingdom

Speaker
Frank Vibert, Denis Galligan, Christopher Decker, Bettina Lange
Event date
Event time
9:30 - 13:00
Venue
Wolfson College
Linton Rd
Oxford
Oxfordshire
OX2 6UD
Venue details

Haldane Room

Event type
Lectures and seminars
Event cost
Free
Disabled access?
Yes
Booking required
Recommended

This workshop will discuss the increasing importance of ‘fairness’ as a criterion for more active intervention in UK markets, especially energy and telecommunications markets, by economic regulators such as OFGEM and OFCOM.

Fairness defined as fair treatment for consumers demands that economic regulators significantly extend their focus from price regulation to the regulation of the terms of contracts between regulated companies and their customers. Measures to address concerns about the use of private data are of particular importance to any such reforms, as well as the higher compliance costs that regulators would face under such an approach.

Drawing on the recent findings of behavioural economics which suggest that regulators will have to use formal rules for intervention, such as more stringent conditions of service, as well as ‘nudges’ in order to secure compliance, the workshop will bring together academics, practitioners, and policymakers to propose policies to ensure that consumers receive fairer treatment through effective regulation.

Participants include:
Convenor: Frank Vibert, Senior Visiting Fellow at the Department of Government at the London School of Economics, and a former Senior Fellow of UNU/WIDER and Senior Advisor at the World Bank

Chair: Denis Galligan, Emeritus Professor of Socio-Legal Studies and Director of Programmes, Foundation for Law, Justice and Society, Oxford

Dr Christopher Decker, Economist and Research Fellow, Faculty of Law, Oxford

Professor Bettina Lange, Associate Professor of Law and Regulation, Oxford