- The CCP's 13th Annual Conference on 'Just Markets: Distributional Effects of CompetitionPolicy & Economic Regulation' is taking place on UEA campus at the award-winning Enterprise Centre, the greenest building in the UK.
- #ccp2017conf will go beyond the traditional emphasis on improving market efficiency for consumers by exploring issues around distributional effects in competition policy and in specific markets. With the line-up of legal, political science and economic perspectives, it is going to be two days full of insights.
This year’s programme includes contributions by leading academics, policymakers, consultancies and regulators, as well as the first presentation of results from the CCP project on Equity and Justice in Energy Markets funded by the UK Energy Research Centre(UKERC).
- Counting down to the opening of #ccp2017conf!
- Now we are all set for the first session, beginning with views from members of authorities and regulators in the UK.
Session 1 | Setting the Scene and Macro Interactions
- Jun 15, 2017 11:02 AM BST
- We heard from the authorities on the timely themes of the conference. First, Joe Perkins, Chief Economist and Partner for Analysis at the Office of Gas and Electricity Markets (Ofgem), highlighted the importance of considering both procedural and distributive justice in markets. It is potentially problematic when there are highly salient concerns about the ability of the market to deliver either. In particular, economic regulators need to consider whether they could do more regarding public expectations on the behaviour of firms. To fail to do this could have a significant impact on the regulatory compact when faith in the market is fraying at the edges.
- Next, we heard from Daniel Gordon, Senior Director of Markets at the Competitionand Markets Authority, who reflected on the importance of engaging with the difficult questions of fair or just outcomes in competitive markets. There is the need to engage with the social side of competition law, incorporating considerations of not only the outcome of markets but how it becomes so. In particular, markets should not only be just but be seen to be so. This leads to some more challenging tasks such as looking at theories of harm and building up trust between markets and market participants.