Long abstract

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This report summarises the discussions held at a roundtable hosted by the CCP in October 2005. The roundtable brought together leading academics, senior government officials and consumer representatives from OECD member countries to explore developments in economic research, particularly behavioural economics, focusing on the role played by consumers in relation to the efficiency of markets. Recognising that policy makers have tended to analyse the structure of the market rather than the extent to which consumers' behaviour shapes its outcomes, the Committee explored the extent to which economists' studies of the demand-side of markets might be able to contribute further to consumer policy.