Campbell-Kelly M.,University of Warwick |
Garcia-Swartz D.,Compass Lexecon |
Lam R.,United Airlines |
Yang Y.,Compass Lexecon
Telecommunications Policy | Year: 2015
We interpret mobile operating systems such as iOS and Android as multi-sided platforms that serve a variety of "customers," including consumers (users), handset makers, network operators, app developers, advertisers, and chip manufacturers. After reconstructing the history of smartphones, we explore the variety of business models that operating system owners or sponsors have implemented, and highlight their implications for the relationships between platform owners/sponsors and customers. Next we focus on those dimensions of the smartphone experience that consumers declare they value the most, namely network quality, the features of the operating system itself, and the selection of apps available for each platform. We study how different mobile operating-system owners or sponsors have managed to innovate in these various dimensions, often by engaging other customer types. In the concluding section we rely on the insights derived from multi-sided platform theory to analyze the reasons why two mobile platforms - Apple's and Google's-have been able to displace various incumbents. © 2014 Elsevier Ltd. All rights reserved.
Campbell-Kelly M.,University of Warwick |
Garcia-Swartz D.D.,Compass Lexecon
Journal of Information Technology | Year: 2013
The origins of the Internet are only partially understood. It is often believed that the Internet grew as a tree from a tiny acorn, the ARPANET network set up in 1969. In this study, we argue that this interpretation is incomplete at best and seriously flawed at worst. Our article makes three contributions. First, on the basis of a wide variety of primary and secondary sources we reconstruct the history of computer networks between the late 1950s and the early 1990s. We show that the ARPANET network was one among a myriad of (commercial and non-commercial) networks that developed over that period of time-the integration of these networks into an internet was likely to happen, whether ARPANET existed or not. Second, we make a systematic effort to quantify the significance of these various networks. This allows us to visualize more clearly the extent to which the ARPANET network was one among many, and not a particularly large one at that. Third, we provide a nuanced interpretation of the rise of various technologies, including the Transmission Control Protocol/Internet Protocol and the World Wide Web, as 'dominant designs.' Their rise should be interpreted within the economic framework of industries with network effects, in which historical accidents bring about tipping points that lead to universal acceptance. We thus show that history matters for understanding why information systems function in the way they do. © 2013 JIT Palgrave Macmillan All rights reserved.
News Article | November 8, 2016
The European Emissions Trading System (ETS) needs a more ambitious reform than proposed by the Commission in 2015. As numerous EU wide and national policies affect the ETS, there is no silver bullet to address all the shortcomings of the existing system. Only a combination of stronger short-term and long-term measures can provide the reform much needed to rebuild confidence in the system. These are the key messages of the study contracted to the French consulting company FTI-Compass Lexecon Energy by a group of large European power companies EDF, ENEL, EDP, ENGIE, Fortum, Iberdrola and CEZ. The study report was introduced in Brussels today. “Most of future investments are currently on hold across Europe because a clear and robust long-term carbon price signal is missing. The confidence on a truly European, market-based instrument, the ETS, is at risk and the window of opportunity to fix it is closing soon. We need a clear signal to secure the competitiveness of existing low carbon capacities and future investments,” Pekka Lundmark, President and CEO of Fortum, highlighted in the launch event. The study has analysed in-depth several options to reform the ETS regarding their impacts on the supply-demand and prices on the carbon market as well as on future emissions trajectory. The analysis shows that with the proposed ETS reform Europe would miss its long term emissions target. However, the analysis also shows that several combinations of options are available to rebalance the carbon market and align the ETS with the long term EU targets. In Fortum’s view, the redesign of the market stability reserve (MSR) combined with an increased linear reduction factor (LRF) could be one of the most efficient combinations to improve the functioning of the system. At the same time, it is necessary to improve the coherence of the overlapping policies and adjust the ETS accordingly. “We do have many options to fix the ETS. Now we simply need political will and legislative agility to reform the ETS to its original ambition,” Lundmark concludes. Read more: Pekka Lundmark's speech at the report launch event on 8 November 2016 Further information: Esa Hyvärinen, Senior Vice President, Public Affairs, +358 40 826 2646 Anne-Malorie Gerón, Vice President, EU Affairs, +32 478 65 28 01 Fortum Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com
News Article | February 20, 2017
LONDON, Feb. 20, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today released FTI Intelligence’s preliminary rankings for the world’s top five wind turbine original equipment manufacturers (“OEMs”), which found Danish manufacturer Vestas reclaimed the title as the world’s largest supplier of wind turbines in 2016. These rankings will be published in the Global Wind Market Update ― Demand & Supply 2016, which will be released in March 2017. Preliminary results are subject to change between now and the release date of the actual report. The report is part of a series of data-driven market intelligence publications evaluating competitive markets, policy, finance, technology and business models across the energy spectrum. Vestas’ return to the top spot was particularly driven by increased installations in the U.S. market, where it overtook U.S. manufacturer GE as the No. 1 supplier, according to preliminary findings from FTI Intelligence. GE and Enercon rose to second and fifth place, respectively, by taking advantage of strong domestic market growth in the United States and Germany. Chinese supplier Goldwind fell two positions to third place, primarily due to a 24 percent drop in China’s wind power installations, according to FTI Intelligence research. Spain’s Gamesa moved up one position to No. 4, largely attributable to its strong presence in India and emerging markets. At this time, FTI Intelligence assigns the following OEM market rankings: * Based on preliminary data analysis ** Based on installation data released by CWEA Note: Gamesa and Siemens are ranked separately as the merger between Siemens Wind and Gamesa is not yet finalised. Among other highlights, FTI Intelligence notes that Siemens dropped out of the top five for the first time since 2012, mainly due to its decreased annual installation in both the United States and offshore wind sector in 2016. In addition, Nordex returned to the top 10 after its recent acquisition of Acciona’s turbine business. The Global Wind Market Update – Demand & Supply 2016 report examines the evolution of the global wind market in 2016 and addresses key market and technology trends and policy updates. It also forecasts global demand trends through 2026. This report will be available free of charge on FTI Intelligence’s website in March 2017. “The drop in wind power installations in 2016 has brought the wind industry back to reality, as 2015 was an unusual year due to strong demand in China ahead of a change in Feed in Tariffs (‘FiTs’),” said Feng Zhao, a Senior Director at FTI Consulting. “The relatively poor performance of Chinese turbine OEMs in 2016 has shown that relying heavily on the home market for growth is not a guarantee for sustainable success.” Aris Karcanias, a Senior Managing Director at FTI Consulting and Co-Lead of the Clean Energy practice, added: “Solar PV not only replaced wind as the most popular renewable energy source in 2016, but also beat wind power in the power auctions launched in Mexico. However, we view this as positive news because the competition is certain to create another wave of technology innovation in the wind industry in order to further bring down the LCOE and make renewable energy even more competitive and affordable.” The Global Wind Market Update – Demand & Supply 2016 report is authored by members of the FTI-CL Energy practice, a cross-practice team of energy experts from FTI Consulting and its subsidiary, Compass Lexecon. The views expressed in this piece are those of the authors and are not necessarily the views of FTI Consulting, its other professionals, its management or its subsidiaries and affiliates. To learn more about FTI Intelligence’s Global Wind Market Update – Demand & Supply 2016, please visit the FTI Intelligence website at www.fti-intelligence.com or contact email@example.com. About FTI Intelligence FTI Intelligence clean energy research concentrates on the global, rapidly evolving renewable energy market, with a focus on wind, solar, biomass, wave, tidal and small hydro technologies. The foundation of these publications is primary research that delivers a wealth of market intelligence supported by hard data, competitive analysis and strategic insight. Our team members include leading energy industry experts and an extensive network of professionals who deliver cutting-edge focus and insight. About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.78 billion in revenues during fiscal year 2015. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
News Article | November 30, 2016
Seven Professionals Named the Most Highly Regarded Experts in Europe and North America WASHINGTON, Nov. 30, 2016 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced that the firm has maintained its top position on Global Arbitration Review’s Who’s Who Legal: Arbitration 2017 list. FTI Consulting topped the list for the seventh consecutive year with 49 expert witnesses from the firm’s Economic Consulting segment, including its subsidiary Compass Lexecon, and its Forensic & Litigation Consulting segment. Global Arbitration Review’s Who’s Who Legal: Arbitration 2017 list includes 212 of the world’s most highly regarded arbitration damages and valuation practitioners from 61 firms and universities. The list is published every year and is based on a survey of top law firms as well as independent lawyers. Forty-nine expert witnesses are the most professionals ever recognized from FTI Consulting and Compass Lexecon, and represent the most professionals ever recognized from one collective firm. Thirteen experts were recognized for the first time on this year’s list, the most among all firms and universities. In addition to having more expert witnesses recognized than any other firm, FTI Consulting and Compass Lexecon had seven professionals named to Global Arbitration Review’s Most Highly Regarded Individuals list, which identifies the 20 most recognized professionals in the field, according to client and peer feedback. FTI Consulting professionals named to Global Arbitration Review’s Most Highly Regarded Individuals list include Mark Bezant, Chris Osborne and Mike Pilgrem, who are Senior Managing Directors based in London, James Nicholson, a Senior Managing Director based in Paris, and Howard Rosen, a Senior Managing Director in Toronto. Compass Lexecon professionals named to the Most Highly Regarded Individuals list include Manuel Abdala, Executive Vice President based in Washington, D.C., and Pablo Spiller, a Senior Consultant in New York. “Our experts continue to be recognized by the international legal community,” said Steven H. Gunby, President and Chief Executive Officer of FTI Consulting. “Maintaining the top position on this list for the seventh consecutive year is reflective of why corporates, governments and law firms call on us when they need the best experts. Moreover, having 15 new additions to this year’s list from FTI Consulting and Compass Lexecon is a testament to our ability to continue to attract, grow and support the most talented professionals.” Nominees for Global Arbitration Review’s Who’s Who Legal: Arbitration lists are selected based on a comprehensive, independent survey of both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are candidates. Individuals selected for this elite list possess an outstanding depth of knowledge in their area of expertise. These professionals also are recognized for their skill in giving expert oral evidence in commercial arbitrations, encompassing examination in chief, cross examination and, increasingly, witness conferencing. FTI Consulting and Compass Lexecon expert witnesses named to Global Arbitration Review’s Who’s Who Legal: Arbitration 2017 list include the following: *Expert witnesses named to this list every year since its inception in 2010. **Expert witnesses also included in the 2016 Who’s Who Legal Canada list. About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.78 billion in revenues during fiscal year 2015. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
News Article | December 7, 2016
WASHINGTON, Dec. 07, 2016 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced that three professionals from FTI Consulting and its subsidiary Compass Lexecon have been named to Global Competition Review’s Women in Antitrust 2016: Economists list. The firm had three of the 10 economists on the 2016 list, the most of any firm recognized. The professionals include Compass Lexecon’s Mary Coleman, an Executive Vice President based in Boston, and Kirsten Edwards-Warren, an Executive Vice President based in London, as well as FTI Consulting’s Margaret Guerin-Calvert, a Senior Managing Director and President of the Center for Healthcare Economics and Policy based in Washington, D.C., and a Senior Consultant for Compass Lexecon. Dr. Coleman specializes in the competitive analysis of mergers and acquisitions and joint ventures, and antitrust litigation, including class action certification issues. Dr. Coleman was the Deputy Director for Antitrust in the Bureau of Economics of the Federal Trade Commission (“FTC”), where she led the antitrust group in the Bureau of Economics and was involved in all antitrust investigations at the FTC, as well as several non-enforcement projects. During her tenure at the FTC, Dr. Coleman was instrumental in the efforts of the Bureau of Economics to increase the empirical content of antitrust investigations at the FTC and to foster cooperation between the economic and legal staffs. Dr. Coleman also served as a staff economist at the FTC. Dr. Coleman was named as one of Who’s Who Legal’s Competition Economists in 2016. Ms. Edwards-Warren has extensive experience in mergers, having worked on more than 50 cases investigated by the UK and European authorities. In addition, she has advised on market studies, consumer cases and competition enforcement cases investigating tying and bundling, excessive pricing, predation, exclusive dealing, retroactive rebates, refusals to supply, vertical restraints and cartels. Ms. Edwards-Warren served as the Director of Economics at both the UK’s Office of Fair Trading and at the Competition Commission. She was named one of Who’s Who Legal’s Competition Economists in 2016, and also featured in the Global Competition Review’s Women in Antitrust Survey in 2013. Ms. Guerin-Calvert also previously served as Compass Lexecon’s President and Vice Chairman. She is widely recognized for her economic and healthcare expertise on merger and non-merger matters involving federal and international antitrust agencies and in litigation, including class certification and damages, with testifying experience in many countries. Ms. Guerin-Calvert was Assistant Chief of the Economic Regulatory Section at the U.S. Department of Justice’s Antitrust Division, where she supervised economists on a wide range of healthcare and regulated industry matters, and was a Federal Reserve Board Economist. She was named as one of Who’s Who Legal’s Competition Economists in 2016, and profiled in Global Competition Review’s 2004 and 2009 Women in Antitrust. “GCR’s selection of these three economists from Compass Lexecon is particularly satisfying given our ongoing efforts to recruit and retain highly qualified women, who are underrepresented in the field of economics. We commend their strong leadership and expert roles in economics. We believe that our work — and work environment — benefit from diverse viewpoints,” said Jonathan Orszag, a Senior Managing Director with Compass Lexecon. “Mary, Kirsten and Meg, as well as many women on our team, not only contribute to our rigorous standards, but also are important mentors and models for other economists — both women and men — at Compass Lexecon.” About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.78 billion in revenues during fiscal year 2015. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
Chambouleyron A.,Compass Lexecon
Utilities Policy | Year: 2014
In 2002, Argentina devalued its currency and froze public utility rates thus breaching the guarantees granted to investors the decade before. Those guarantees had lowered investors' cost of capital by substantially reducing expropriation risk. This paper looks into the governance structure chosen by Argentina for the privatization process and potential alternatives after a decade of contract breaches. Future governance should be market-oriented, involving vertically separated companies with former public utilities voluntarily acting as operating companies or OpCos, and NetCos in charge of all network expansions under the structure of PPPs created for such purposes. © 2014 Elsevier Ltd.
Niedermayer A.,University of Mannheim |
Wu J.,Compass Lexecon
International Journal of Industrial Organization | Year: 2013
Inter-firm R&D collaborations through contractual arrangements have become increasingly popular, but in many cases they are broken up without any joint discovery. We provide a rationale for the breakup date in R&D collaboration agreements. More specifically, we consider a research consortium initiated by a firm A with a firm B. B has private information about whether it is committed to the project or a free-rider. We show that under fairly general conditions, a breakup date in the contract is a (second-best) optimal screening device for firm A to screen out free-riders. With the additional constraint of renegotiation proofness, A can only partially screen out free-riders: entry by some free-riders makes sure that A does not have an incentive to renegotiate the contract ex post. We also propose empirical strategies for identifying the three likely causes of a breakup date: adverse selection, moral hazard, and project non-viability. © 2013 Elsevier B.V.
Layne-Farrar A.,Compass LexEcon
International Journal of IT Standards and Standardization Research | Year: 2011
Cooperative standard setting may be burdened by "over patenting". Because standards may convey market power to firms whose patents are implicated, "strategic" patenting may enable opportunistic behaviors. Thus, particular concerns have been raised over patenting that takes place after the first versions of a standard are published, as these patents may be aimed at the acquisition of market power. This is a reasonable concern, but another possibility also may be likely: "ex post" patenting may be driven by genuine innovation. Which is more prevalent? To begin answering this question, the author empirically assesses the patenting that occurs within a standard setting organization. The author rejects the first stage hypothesis that all ex post patenting must be opportunistic and conclude instead that such patenting is likely a mixed bag of (incremental) innovative contributions along with some strategic ones. As a result, standard setting policy prescriptions should proceed with caution so that the good is not eliminated with the bad. Copyright © 2011, IGI Global.
Affelt A.,Compass Lexecon
Online (Wilton, Connecticut) | Year: 2011
The issue of the semantic web is of particular relevance to end users of Internet and desktop-accessible databases. In addition to recognition of new synonyms for commonly researched subjects, information professionals are also being challenged by terminology that has completely changed. UK and EU-based publications are featuring extensive coverage of government economic policies and plans using vocabulary seen less frequently in the US media. When researching a fluid environment such as government budgets and spending, it is preferable to use an all encompassing template. People must use department newsletters and other marketing and outreach materials as platforms to discuss ways in which the information center uses search templates and synonym lists. In pharmaceutical, legal, and other environments where it can be devastating to miss a key article, end users should be encouraged to contact the information center in order to be confident that nothing was missed.