Consumer choice is increasingly recognised as a crucial factor in competition policy. To illustrate the implications of such choice we present an investment model of the switching choice in the UK residential natural gas market and examine responses to a specially commissioned survey of nearly...

This paper considers the importance of countervailing power, manifested as the effects of increased retail concentration on consumer prices and welfare within a market setting where imperfectly competitive retailers negotiate intermediate prices with a monopoly supplier. Only when retailer...

This paper analyzes the effects on the litigation process of alternative contracts between plaintiffs and their lawyers. Three contracts are compared: normal (hourly fee), contingent mark up fees, and contingent share contracts. The focus is on the first two, a recent change in English law...