New Insights into Competition Regulation & Consumer Protection Bea New Insights into Competition Regulation & Consumer Protection CCRP Competition Policy Roundtable London, 26 October 2018 Amelia Fletcher Centre for Competition Policy University of East Anglia Disclaimer: These are not necessarily the views of any organisation with which I am associated.

Focus on two major developments The growing focus on, and debate around, consumer remedies These are designed to enhance competition through enhancing the functioning of the demand-side, recognizing behavioural factors. Used extensively across regulators (and CMA). The growth of the digital economy Role of sectoral regulators in fostering new innovation. Concerns about a lack of competition in some digital markets, especially platform markets.

1. Consumer remedies: What’s new? Attend Access Assess Act Choice architecture OFT identified these 3 “A”s of consumer decision-making Needed to ensure competition on the supply-side really delivered for consumers Interventions focused on improving these: via disclosure, comparison tools, and switching remedies

1. Consumer remedies: What’s new? Attend Access Assess Act Choice architecture Greater behavioural focus More ex ante testing Recognition of need for smart disclosure/comparison tools Need to act against ‘sludge’

1. Consumer remedies: What’s new? Attend Access Assess Act Choice architecture Informational triggers Eg Last year’s premium in renewal letter Greater behavioural focus More ex ante testing Recognition of need for smart disclosure Need to act against ‘sludge’ Changed defaults Eg Ban on opt-out selling of add-ons

2. The digital economy: Competition concerns To be reviewed by HMT-appointed panel led by Jason Furman Call for evidence runs to 7 December 2018 Key questions (NB my unapproved summary): How problematic is the trend towards concentration? Is this avoidable, or is it inherent given network effects, economies of scale and scope, the role of data and the growth of AI? Would reform of competition law help? If so, how? What about other competition concerns arising, e.g. algorithmic collusion? Is there a role for policy intervention beyond traditional competition tools?

New Insights into Competition Regulation & Consumer Protection Bea New Insights into Competition Regulation & Consumer Protection CCRP Competition Policy Roundtable London, 26 October 2018 Amelia Fletcher Centre for Competition Policy University of East Anglia Disclaimer: These are not necessarily the views of any organisation with which I am associated.