This paper focuses on the application and interpretation of measures of rate of return for competition law. Amongst other results, we analyse how outsourcing and similar arrangements impact the rate of profitability and show that the measurement is more volatile the greater the rate of profit...

This paper focuses on the application and interpretation of measures of rate of return for competition law. Amongst other results we analyse how outsourcing and similar arrangements impact on the rate of profitability and show that the measurement is more volatile the greater the rate of profit,...

It is crucial to understand the impact of changes in regulation on market risk but there is no literature showing how risk responds to expected changes in regulation that are specifically designed to change risk. This paper fills this gap by providing a detailed study of one such case. Using a...

The decision when to provide services by the public sector and when to use the private sector is a fundamental one. The economic literature emphasises that the efficiency of the mechanisms of delivery will depend on the contractual nature of what can be achieved by the parties and the political...

Much of the literature on diversity assumes that individuals have an exogenous "taste for discrimination". In contrast with this approach, we build a model where preferences over the nature of one's community are derived indirectly, and arise because the composition of the community determines...

This article discusses proposed governance reforms of legal services markets. The model distinguishes between a status quo position supported by a system of professionally enforced collective reputation and forms of governance based more squarely on market mechanisms. We identify a number of...