Progress Through Better Thinking
Beyond efficiency: What should be the role of economic regulators?
11 August 2023
Members of the SR Economics team recently attended the annual ACCC Regulatory Conference held in Brisbane. The theme of this year’s conference was “whether economic efficiency is enough, as the compass or true north for public policy and regulatory frameworks applying to systems and markets”.
What is a Monopoly? The divergence of theory and practice in the context of Australia’s telecommunications access regime.
29 July 2023
A widely accepted definition of a monopoly is a supplier of a good or service for which there is no close substitute¹. A monopolist is said to have market power (or monopoly power) meaning that it can set prices and restrict output to maximise profit. This definition of a monopoly and the concept of market power are well-recognised in the economic literature.
Australian Government announces Taskforce to review competition policy.
24 August 2023
On Wednesday 23 August 2023 the Australian Treasurer, Jim Chalmers, and Assistant Minister for Competition, Charities and Treasury, Andrew Leigh announced that a Competition Taskforce has been established to conduct the review of Australia’s competition laws, policy settings, and institutions.