The latest SBE evening meeting brought together two of the UK’s leading regulators to discuss how incentives to innovate shape competition and regulation policy. Dr Mike Walker, Chief Economist at the Competition and Markets Authority highlighted the difference between static efficiency, dynamic efficiency, and why regulators often choose the wrong one at the cost of a country’s long term growth prospects.  Geoffrey Myers, Director of Competition Economics at Ofcom, showed how balancing competition and investment incentives shaped successive auctions for the UK’s mobile spectrum.