One Great George Street, London
The general theme of the day will be examination of the ways in which the conduct of public policy can become disordered over time, in the sense of increasingly suffering from lack of co-ordination and dissipation of effort. The focus will be on developing insights into the pressures and causes of the entropic tendencies with a view to becoming better able to counter them.
The thematic discussion will be structured on the following lines:
- Current analytic paradigms in regulation, law, and economics (used to order thinking), and their most obvious points of weakness.
- Organisational and strategic entropy: how focus and effective co-ordination can be lost.
- Case studies 1: examinations of entropic tendencies in responses to disruptive contextual shifts such as climate change and technological change.
- Case studies 2: examinations of dissipation of effort in structural policies (business separation, unbundling) and in infrastructure investment strategies and policies.
- Thoughts on techniques to counter entropy.
Please save the dates. Details to follow.
“Alternative wider European structures of cooperation”
Jonathan Faull, discussant
We were very grateful to Hogan Lovells for hosting this seminar. Arrival and coffee 5pm; the seminar will begin promptly at 5:30 pm.
This year’s conference took a retrospective look at the evolution of regulatory and competition policy over the past 25+ years, asking: what has worked well, what hasn’t worked well, andwhat have we learned from it all?
The RPI was grateful for sponsorship from Linklaters for this conference.
We will be posting papers arising from the conference in due course; the following are now available to download:
- "Twenty-five years of regulation; Water services" (Ian Byatt)
- "Better to travel hopefully than to arrive? The reform of UK competition law 1991-2016" (Peter Freeman)
- "Emerging institutional weaknesses in US regulation" (Mark Jamison)
- "The early stages of liberalisation: the case of gas" (Eileen Marshall)
- "The energy restaurant at the (other) end of the universe" (John Pierce)
- "Benchmarking: The lessons for regulatory procedure" (Graham Shuttleworth)
- "A note on airports" (David Starkie)
The gathering took a broad look at market and regulatory governance issues, with the focus on the institutional arrangements for the making of relevant decisions rather than on any particular decisions that have or might be taken.
Platform speakers and chairs were:
- David Gray, GEMA
- Bridget Rosewell, NIC
- Richard Price, UKRN presentation
- Peter Freeman, CAT
- George Yarrow, RPI presentation
- Mary Starks, FCA presentation
- John Swift QC
- Deidre Hutton, CAA presentation
- John Wotton, CMA presentation
- Jenny Block, Pinsent Masons
- Martin Crouch, Ofgem presentation
- Cathryn Ross, Ofwat presentation
The RPI’s annual competition conference was convened as a symposium this year, with fewer platform speakers few Power Point projections, and more discussion and dialogue. For that reason, we will not be publishing presentations from the conference. We are very pleased, however, that Steve Smith has provided us the text for his Zeeman lecture. You can read the full speech here. The full programme for the conference is also available.
“Ordoliberalism and timelessness of Article 82”
Competition Policy Conferences
Occasional conferences & seminars
The EEA agreement explained, a new paper by Yarrow and Yarrow was published 14 March 2017: The European Economic Area Agreement: A short introduction, Studies in Regulation New Series 7.1, by Yarrow and Yarrow.
A new paper has just been published in the Letters and Notes series: Reforms to water regulation in Victoria by Euan Morton and Martin van Bueren, March 2017.
An RPI paper on Energy and Environmental Regulation by George Yarrow, assisted by Philip Davies was published on 7 March 2017 by the Australian Energy Market Commission and is available here
A new paper in the Studies in Regulation series, "The market for residency in Fabellia: a quick introduction", by George Yarrow, was published in September 2016.
The RPI has published a working paper, "Brexit and the Single Market" by George Yarrow. You can download a pdf version of the paper, **Final** here
Presentations from the 2016 Westminster conference are available here
The RPI has published a paper about NHS procurement of enteral feeds, October 2015.
Steve Smith's Zeeman Lecture The use and abuse of the notion of effective competition: Carroll, Orwell and McCarthy revisted?" is available as a pdf.
George Yarrow has filed a short submission on the CMA's Summary of Provisional Findings Report and Notice of Possible Remedies. A pdf version of the submission is available here.
In the Letters and Notes series: Privatisation and untoward consequences in water services: the regulator's role", Ian Byatt, October 2015.
Presentations from the 2014 Competition Conference are now available.
Former energy regulators have made a joint submission to the Competition and Markets Authority in relation to its current investigation of energy markets. You can read the submission here
The OFT's Higher Education Report: Could do better, Suzanne Rab, and Heuristics and biases in regulatory decision making, George Yarrow, both in the Letters and Notes series.Presentations from the recent Westminster conference, "Coherence and Stability in Regulatory Policy" are also now available.
Other recent publications:
In the Essays in Regulation new series George Yarrow considers the widespread use of over-simplified, ‘corrupted’ economics in policymaking and offers some suggestions as to how the problem might be addressed: Dysfunctions in economic policymaking Part I: simple stories, complex systems and corrupted economics
In Letters and Notes, Jon Stern addresses the tendency to continue financial support for major public projects well beyond the time at which it becomes clear that further support is highly inefficient: UK Renewables Demonstration Projects: Who Pulls the Plug?
In a new paper in the RPI's Studies in Regulation series, Professor Stephen Littlechild outlines his concerns about the proposed interpretation of the competition assessment framework for the retail energy sector.
At the end of last year the RPI published two papers in the 'Letters and Notes in Regulation' series: The impact of UK shale gas development on gas prices by George Yarrow and Why airports can face price-elastic demand: margins, lumpiness and leveraged passenger losses by David Starkie and George Yarrow.
Regina Finn and Simon Less outline different forms of regulatory capture in Capture of independent sectoral regulators, an earlier publication in the 'Letters and Notes on Regulation' series.
In Security of electricity supply: is a Capacity Market the answer?, Dr Nigel Evans assesses proposals for the introduction of a ‘Capacity Market’ into wholesale electricity trading arrangements.
See the full list of Letters and Notes in Regulation.
In 2013 the RPI was commissioned by the Legal Services Board to undertake a study on "Understanding the barriers to entry, exit and changes to the structure of regulated legal firms". The final report presented to the LSB and Law Society, and the executive summary are now available.
Previously RPI chairman George Yarrow submitted brief note in response to the MoJ's call for evidence in the context of its review of legal services regulation.
In 2012 the RPI was commissioned by the Council of Bars and Law Societies of Europe (CCBE) to assess the economic significance of the professional legal services sector in the European Union. The report, published in late 2012, further develops some of the material of an earlier report for the Legal Services Board, and contains a critique of existing 'econometric' work on the economic contribution of legal services. The paper was referenced in Commissioner Viviane Reding's address to the recent plenary session of the CCBE.
The slides from George Yarrow's 2013 Beesley lecture, Alternatives to wooden headedness: (much) less costly ways of regulating carbon emissions are available here. See also background and related reading.
Please see the RPI response, September 2013.
Many presentations from last year's Westminster conference are available.
The Expert Panel final report for Australia’s Standing Council on Energy and Resources may be of interest to those concerned with issues surrounding reviews of regulatory decision making; see also the Standing Council on Energy Resources website.