The Role of Behavioural Economics in Consumer Protection and Competition Law

Posted by D. Daniel Sokol

The Role of Behavioural Economics in Consumer Protection and Competition Law

to be held on 3 June 2009 from 4.30 - 7.30, at UCL Law Faculty, London
accredited with 3 CPD hours by the Bar Standards Board and the Solicitors Regulation Authority

About this event:
Economists have long assumed that people are rational.  Such people know what they want and make decisions to maximize the utility from those preferences.  A new body of research from economists and psychologists investigates how people actually behave and questions the rationality hypothesis.  This new field—known as “behavioural economics”—increasingly spills over into the realm of policy.  If people make the wrong decisions because of in effect faulty wiring would they benefit from having the government fix this? That could come in the form of consumer protection policies such as giving people a reprieve from impulsive decisions to other policies such as requiring people to opt-out of certain decisions rather than opting in.  There are antitrust implications as well since in principle firms could use our faulty wiring to increase their market power.  This new field does not come without controversy.  Some question whether the results are exaggerated, whether such policies may unduly disadvantage consumers who are able to defend themselves in the market, and whether a theory in which consumer welfare is ill-defined can provide a good way to develop economic models or devise policy interventions. The Colloquium will delve into this new field, its implications, and its controversies.

Programme:

4.00	Registration
4.30	Welcome and Introduction to Behavioural Economics Professor David Evans, UCL / Jevons Professor Mark Armstrong, UCL (Economics)
	Panel discussion on the role of behavioural economics on competition and consumer protection enforcement
	Panelists: Miguel de la Mano Deputy Chief Economist, DG Comp, European Commission Amelia Fletcher Chief Economist, Office of Fair Trading  Alison Oldale Chief Economist, UK Competition Commission Eliana Garces-Tolon Member of Commissioner Cabinet, DG Sanco, European Commission Representative from the US Federal Trade Commission
	A judicial perspective:
	Judge Douglas Ginsburg US Court of Appeals for the District of Columbia Circuit Vivien Rose Chairman of the Competition Appeal Tribunal
7.30	Drinks and Canapes

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Date: Wednesday 3 June 2009
Time: 4 - 7.30pm
Accreditation: 2.5 CPD hours, Law Society and Bar Standards Board 

Venue: UCL Law Faculty, Bentham House, Endsleigh Gardens, London WC1H 0EG
nearest underground Euston Square and Euston

Accreditation: accredited with 3 CPD hours by the Bar Standards Board and the Solicitors Regulation Authority

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Queries: Please contact Lisa Penfold, Events Manager at UCL Law Faculty
email: lisa.penfold@ucl.ac.uk
phone: +44 (0)20 7679 1514 

Download a copy of the schedule for this event and a map of the venue location