New technologies, innovation, changing business models and a fast evolving policy environment constantly pose new challenges for business, consumers and policy makers. Economics is a crucial tool to make sense of the New Economy and London Economics is ready to provide the relevant insights.
Our expertise encompasses:
- The economics of security and privacy, including the value of privacy
- Productivity analyses
- Consumer behaviour in digital markets,
- Two-sided markets and
- Intellectual property rights and the economics of IP in the new economy.
Our approach is multidisciplinary and as flexible and innovative as the markets we deal with. Our economic consultants combine standard microeconomics and sophisticated empirical methods with insights from behavioural science and in-depth knowledge of new technologies and the relevant regulatory and legal frameworks, including the EU data protection landscape. We have assisted clients through a mix of approaches encompassing:
- Theory-based insights
- Market research (including consumer and business surveys)
- Market forecasting and market analysis
- Case studies
- Regression analysis
- Online trials
We have provided expert advice to government agencies and private sector clients at the national and EU level, including:
- The Value of Personal Information – Evidence from Empirical Economic Studies’ (published in a peer-reviewed publication ‘Communications & Strategies’ (Dec 2012)) – Various economic studies have tried to measure individuals’ valuation of different kinds of personal data. We review empirical papers from the last 10 years and find evidence that more disclosure is associated with higher valuations. We find that the current research efforts can be extended to yield insights into the pricing of personal information, taking into account the actual value such information creates in legitimate business applications. Available here
- ‘Economic Benefits of an Internet Domain for Wales’ for Nominet. London Economics explored the potential economic benefits from the introduction of a sub-national, geographically specific top-level domain (“geo-TLD”) in Wales. The research finds that a majority of consumers would react positively to new geo-TLDs due to increased in trust and positive associations with the Wales ‘brand’. The potential shift in revenues to firms using the new TLDs is found to be as high as £2 billion per year. Available here.
- ‘The cost of non-Europe: the untapped potential of the European Single Market’ for the European Commission’s Bureau of European Policy Advisors (BEPA) This study supported preparation and targeting of the next phase of the Single Market re-launch by providing economic evidence on the untapped potential of the Single Market, in terms of potential impact on Europe’s overall long-term economic performance (including sustainable growth, jobs, and consumer welfare). Specifically, it aims to identify and focus on a limited number of sectors where further integration within the Single Market is likely to make the most significant contribution to sustainable EU growth through improving productivity to benchmark levels.
More information and a complete list our productivity, innovation and new economy team’s publications can be found here.