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No one likes losing

No one likes losing

12/12/2017

Every winter, the UK finds itself wrestling with a flu outbreak. The government runs a vaccination programme to targeting the young and elderly, but people still get sick and die. Imagine that the government has been warned that this year’s flu strain is particularly virulent, and if it does...

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One in, X Out: A Push and a Nudge towards Better Regulation

One in, X Out: A Push and a Nudge towards Better Regulation

16/11/2017

Grover Norquist is not a fan of big government. Arguably the best statement of the pugnacious American’s philosophy is that he doesn’t “want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub”. You don’t need to...

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Taking Regulation to the Masses? The Trend Towards Customer Engagement

Taking Regulation to the Masses? The Trend Towards Customer Engagement

01/06/2017

When most people hear the word “regulation,” they likely think about government bureaucrats and bloated agencies. For people who have a more positive view of regulation, they probably are still thinking in terms of government directives that in some way will help society. What likely comes to...

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The “Sharing Economy”: Estimating The Benefits From Ridesharing

The “Sharing Economy”: Estimating The Benefits From Ridesharing

11/04/2017

The “Sharing economy”: Estimating The Benefits From Ridesharing The sharing economy has taken the world by storm – at least in the places where it’s been allowed to operate. Presented as a more efficient way to connect buyers and sellers, companies such as Uber have revolutionised...

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Jamie Vardy’s having a party! At the expense of the education of hundreds of thousands of teenagers

Jamie Vardy’s having a party! At the expense of the education of hundreds of thousands of teenagers

31/05/2016

Written by Dr Rob Metcalfe On June 10th, the 2016 European Championship starts in France.  England, Northern Ireland, and Wales will be represented at the tournament.  Not since 1986 have we had three home nations at a major finals – it’s Wales’ first since 1958! It is going to be a...

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A Soft-Touch Approach to Tax Compliance

A Soft-Touch Approach to Tax Compliance

20/11/2017

Tax collectors are used to less-than-enthusiastic compliance, but that doesn’t make non-payment any less infuriating. People who file their taxes, accept their bill, and then fail to pay on time or at all are surprisingly common, and getting them to pay their debts can be extremely...

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An End to Reckon-Based Policymaking?

An End to Reckon-Based Policymaking?

07/09/2017

Of all the words to cause an economist’s heart to sink, there is nothing quite like a politician opening a sentence with ‘I reckon’. A ‘reckon’, or hunch, may do as a basis for policy when no evidence exists, but the government flying blind is a sign that something is amiss. This is...

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Saving the Planet, Upping the Profit: Lessons from Virgin Atlantic Airlines

Saving the Planet, Upping the Profit: Lessons from Virgin Atlantic Airlines

09/05/2017

Is it a bird? Is it a plane? Is it S…actually, I bet it’s a plane. In today’s world, air travel is all around us – and that’s a good thing. In 2011, aviation alone contributed almost £50 billion to the UK’s GDP. Airlines like Virgin Atlantic Airways (VAA) help make our communities and...

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Uber generates 18-million-dollars of consumer ‘wellbeing’ every day

Uber generates 18-million-dollars of consumer ‘wellbeing’ every day

30/09/2016

The price of a good in a market reflects both consumer value and the cost of producing the good.  On the consumer side, for a consumer to buy a good, his or her willingness to pay for the good (that is the value of the good to the consumer) must be at least the market price of the good.  If the...

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