Future Leaders' Competition 2018 Winner
Tim Hogg, Consultant, Oxera
Tim is an economic consultant at Oxera specialising in regulation and behavioural economics. He has worked for regulators and firms across telecoms and financial services, applying behavioural economics to improve consumer outcomes.
Below is a brief abstract from his winning entry:
Government policy, regulation, and competition law all aim to make a positive difference for consumers, and are afterwards judged by whether consumers actually benefitted. Our common understanding of what constitutes a consumer benefit is therefore crucial.
To date, consumer outcomes have mainly been considered in terms of price, quantity, quality, innovation and choice. However, technology has transformed societies and impacted consumers in a variety of sociological ways, far beyond the traditional set of outcomes.
This paper argues that policymakers, regulators, and competition authorities should consider an additional set of holistic consumer outcomes, including relationships, fairness, truth, and privacy. This will lead to better holistic consumer outcomes which will generate greater societal support for technology and new commercial opportunities.
- Thursday, 13 September 2018