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Studies in Regulation (new series)

Launched to mark the Institute’s 21st year of activity, the Studies series is focused on specific issues and/or may include material of a technical nature. Submissions of papers for consideration in the series should be made to George Yarrow

Re-thinking climate change policies: A tale of two externalities

George Yarrow and Gerard Fox

published January 2022

In this short paper, Gerard Fox and George Yarrow argue that, in the context of climate change policies, the nature and significance of any potentially problematic economic externalities are functions of strategic policy choices: that …


Economic Rents at Heathrow Airport

David Starkie

published April 2020

The Paper challenges the common supposition that (scarcity) rents at Heathrow airport accrue from airlines charging efficient clearing prices and instead suggests that because of oligopolistic practices, much of the rent at Heathrow is quasi-monopoly …


The European Economic Area Agreement: a short introduction

Catherine Yarrow and George Yarrow

published March 2017

Our aim in this paper is to explain and comment on some of the principal features and implications of the European Economic Area Agreement (EEAA). A number of misunderstandings about the content and operation of …


The market for residency in Fabellia: a quick introduction

George Yarrow

published September 2016

In discourse following the UK referendum on 23 June 2016 significant attention has been paid to the question What does Brexit mean? The answer seems to be straightforward: it means UK exit from the EU, …


Banks, monetary policy and competition policy: how do they connect?

David Harrison

published January 2015

This paper considers the banking system from the respective points of view of EU monetary and competition policy, and the issues that arise when excess credit creates an asset price bubble and crash. Banks are …


The competition assessment framework for the retail energy sector: some concerns about the proposed interpretation

Stephen Littlechild

published January 2014

Ofgem, OFT and CMA are presently carrying out “an assessment of how well competition in the markets for gas and electricity is serving the interests of households and small firms in Great Britain”. They intend …


The Customer Forum: customer engagement in the Scottish water sector

Stephen Littlechild

published January 2014

The Customer Forum was set up in September 2011 with three aims: to work with Scottish Water on a programme of customer research; in the light of this to understand and represent customer priorities to …


On the discovery and assessment of economic evidence in competition law

Chris Decker and George Yarrow

published December 2011

Assessment of economic data/information/evidence in more or less any context can raise difficult issues. Compared with the testing of hypotheses and theories in the physical sciences, there is much less ability to make use of …