Multi-sided platform markets have two or more different groups of customers that businesses have to get and keep on board to succeed. These industries range from dating clubs (men and women), to video game consoles (game developers and users), to payment cards (cardholders and merchants), to operating system software (application developers and users). They include some of the most importa...... hiện toàn bộ
Kevin Cullinane, Dong‐Wook Song, Ping Ji, Tengfei Wang
There have been various analyses of the efficiency of container port (or terminal) production using Data Envelopment Analysis (DEA) based on cross-sectional data. When time is not considered, the efficiency results derived using this approach can be biased. In order to overcome this problem, this paper applies DEA windows analysis, utilising panel data, to a sample of the worlds major con...... hiện toàn bộ
In this article, we construct a model to study competing payment networks, where networks offer differentiated products in terms of benefits to consumers and merchants. We study market equilibria for a variety of market structures: duopolistic competition and cartel, symmetric and asymmetric networks, and alternative assumptions about consumer preferences. We find that competition unambigu...... hiện toàn bộ
We synthesize the results of the recent theoretical literature on the determination of interchange fees by payment card associations. We analyze in particular the conditions under which these interchange fees are excessively high, as compared with social optimum. These conditions involve several parameters: the intensity of competition between banks and between merchants; the elasticities ...... hiện toàn bộ
Interchange fees and related issues in payment card markets have been the focus of considerable attention recently. The academic community and public officials have begun to scrutinize these markets. Meanwhile, these markets continue to experience dynamic change as card payments account for an ever-growing share of overall payments. This paper provides an overview of interchange fee develo...... hiện toàn bộ
A payment instrument that disproportionately charges merchants (as with high interchange) can take business from others that offer the two-sided customer better deals. This competitive bias arises because merchants internalize cardholders' benefits (even without merchant competition). Use of an instrument with high merchant fees also raises prices paid by other consumers, a non-pecuniary e...... hiện toàn bộ
Howard H. Chang, David S. Evans, Daniel D. Garcia Swartz
We examine the impact to date of the Reserve Bank of Australia's decision to reduce interchange fees on credit cards in Australia by almost half. We find that, in the short run, issuers have recovered between 30 and 40 percent of the loss of interchange fees. Merchants have benefited from lower fees but it is questionable whether those benefits have been substantially passed on to their cu...... hiện toàn bộ
AbstractWe analyze the impact of three controversial pipeline projects on the power structure in the Eurasian network for natural gas. Two pipelines, “Nord Stream” and “South Stream,” allow Russian gas to bypass transit countries, Ukraine and Belarus. The third project, “Nabucco,” aims at diversifying Europe’s gas imports by accessing producers in Middle East and C...... hiện toàn bộ
We provide evidence that increasing consumer awareness may have been underlying the rise of debit card use. We find that consumers typically use multiple payment media and that this behavior is closely related to the use of debit cards besides cash. Moreover, it turns out that the use of multiple payment media is directly related to consumer awareness but that not controlling for the endog...... hiện toàn bộ