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The Law And Economics Of Interchange Fees
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Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781985164291 Total Pages :116 pages Book Rating :4.1/5 (642 download)
Book Synopsis The Law and Economics of Interchange Fees by : United States. Congress
Download or read book The Law and Economics of Interchange Fees written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-02-08 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The law and economics of interchange fees : hearing before the Subcommittee on Commerce, Trade, and Consumer Protection of the Committee on Energy and Commerce, House of Representatives, One Hundred Ninth Congress, second session, February 15, 2006.
Author :United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection Publisher : ISBN 13 : Total Pages :120 pages Book Rating :4.0/5 ( download)
Book Synopsis The Law and Economics of Interchange Fees by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection
Download or read book The Law and Economics of Interchange Fees written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection and published by . This book was released on 2006 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection Publisher : ISBN 13 : Total Pages :111 pages Book Rating :4.:/5 (16 download)
Book Synopsis The Law and Economics of Interchange Fees by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection
Download or read book The Law and Economics of Interchange Fees written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Trade, and Consumer Protection and published by . This book was released on 2005 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Payment Card Interchange Fees and the Limits of Regulation by : Todd J. Zywicki
Download or read book The Economics of Payment Card Interchange Fees and the Limits of Regulation written by Todd J. Zywicki and published by . This book was released on 2010 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Controls on Payment Card Interchange Fees by : Todd J. Zywicki
Download or read book Price Controls on Payment Card Interchange Fees written by Todd J. Zywicki and published by . This book was released on 2014 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of the U.S. Debit Card Interchange Fee Regulation on Consumer Welfare by : David Sparks Evans
Download or read book The Impact of the U.S. Debit Card Interchange Fee Regulation on Consumer Welfare written by David Sparks Evans and published by . This book was released on 2013 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cost to merchants of taking payment on debit cards declined by more than 7 billion dollars annually as a result of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, while the effective cost to issuers of providing debit card services to consumers increased by a corresponding amount. This paper reports an event-study analysis of stock prices to determine the impact on consumers of the Durbin Amendment. Did consumers gain more from cost savings passed on by merchants, in the form of lower prices and better services, than they lost from cost increases passed on by banks, in the form of higher prices or less service? We find that consumers lost more on the bank side than they gained on the merchant side. Our estimate is that, based on the expectations of investors, the present discounted value of the losses for consumers as a result of the implementation of the Durbin Amendment is between 22 and 25 billion dollars.
Book Synopsis House Hearing, 109th Congress by : U.S. Government Printing Office (Gpo)
Download or read book House Hearing, 109th Congress written by U.S. Government Printing Office (Gpo) and published by BiblioGov. This book was released on 2013-11 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Book Synopsis The Impact of Interchange Fees on Merchants and Consumers by : Anca Girjob
Download or read book The Impact of Interchange Fees on Merchants and Consumers written by Anca Girjob and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the issue of the multilateral interchange fees from the perspective of the competition law. The multilateral interchange fees are payments for card transactions operated through financial institutions such as Visa and MasterCard. The issue raised by the European Commission is how these fees can affect the competition, the retailers and the consumers in the European Union. For a modern, functional and efficient European retail payment market is important to monitor how the law is applied and respected to assure the transparency and clarity regarding the ratio between real costs and benefits of different payment instruments. Therefore, the procedure used to set the interchange fees should promote economic efficiency and compliance with the competition law.
Book Synopsis The Law and Economics of Patent Damages, Antitrust, and Legal Process by : James Langenfeld
Download or read book The Law and Economics of Patent Damages, Antitrust, and Legal Process written by James Langenfeld and published by Emerald Group Publishing. This book was released on 2021-05-24 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law and Economics of Patent Damages, Antitrust, and Legal Process examines several areas of important research by a variety of international scholars. Areas include technical papers on the appropriate way to estimate damages in patent disputes and methods for evaluating relevant markets.
Book Synopsis The Impact of the U.S. Debit Card Interchange Fee Caps on Consumer Welfare by : David S. Evans
Download or read book The Impact of the U.S. Debit Card Interchange Fee Caps on Consumer Welfare written by David S. Evans and published by . This book was released on 2013 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cost to merchants of taking payment on debit cards declined by more than $7 billion annually as a result of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, while the effective cost to issuers of providing debit card services to consumers increased by a corresponding amount. This paper reports an event-study analysis of stock prices to determine the impact on consumers of the Durbin Amendment. Did consumers gain more from cost savings passed on by merchants, in the form of lower prices and better services, than they lost from cost increases passed on by banks, in the form of higher prices or less service? We find that consumers lost more on the bank side than they gained on the merchant side. Our estimate is that, based on the expectations of investors, the present discounted value of the losses for consumers as a result of the implementation of the Durbin Amendment is between $22 and $25 billion.
Book Synopsis The Economics of Interchange Fees and Their Regulation by :
Download or read book The Economics of Interchange Fees and Their Regulation written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Interchange Fee Economics by : Jakub Górka
Download or read book Interchange Fee Economics written by Jakub Górka and published by Springer. This book was released on 2018-11-29 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interchange fees have been the focal point for debate in the card industry, among competition authorities and policy makers, as well as in the economic literature on two-sided markets and on the regulation of market failures. This book offers insight into the economics of interchange fees. First, it explains the nature of two-sided markets/platforms/networks and elaborates on four-party schemes and on the rationale behind interchange fees according to Baxter’s model and its later refinements. It also includes the debate about the optimum level of interchange fees and its determination (“tourist test”), and presents the original framework for assessing the impact of interchange fee regulatory reductions for the market participants: consumers, merchants, acquirers, issuers, and card organisations. The framework addresses three areas of concern in reference to the transmission channels of interchange fee reductions (pass-through) and the card scheme domain (triangle: payment organisation, issuer, acquirer). The book discusses the effects of regulatory interchange fee reductions in Australia, USA, Spain, and, most specifically, Poland. It will be of interest to policy makers, card and payments industry practitioners, academics, and students.
Book Synopsis The Application of Competition Law to Multilateral Interchange Fees by :
Download or read book The Application of Competition Law to Multilateral Interchange Fees written by and published by . This book was released on 2009 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Antitrust Issues in Two-Sided Network Markets by : Alan Sykes
Download or read book Antitrust Issues in Two-Sided Network Markets written by Alan Sykes and published by . This book was released on 2018 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2013, I served as a court-appointed expert in consolidated class and individual plaintiff antitrust litigation against Visa and Mastercard in the Eastern District of New York. The litigation involved a challenge to default interchange fees established by Visa and Mastercard, and to certain network rules imposed on affiliated merchants. My task was to assist the court in evaluating the merits of a proposed settlement. An evaluation of the reasonableness of the eventual settlement from an economic perspective entails a comparison between what the plaintiffs received in the proposed settlement and the expected returns to the plaintiffs of litigating the case to conclusion. The returns to litigation in turn depend on the prospects of establishing liability, the likely magnitude of damages and the nature of any injunctive relief conditional on liability, and of course the costs of litigation. In this commentary, I focus on the liability, damages, and injunctive relief issues because of their economic novelty and broader implications for other antitrust cases. The paper will appear in a symposium issue of Competition Policy International.
Book Synopsis Paying with Plastic, second edition by : David S. Evans
Download or read book Paying with Plastic, second edition written by David S. Evans and published by MIT Press. This book was released on 2004-12-17 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive account of the trillion-dollar payment card industry. The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book, Paying with Plastic delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. New to this second edition, the two-sided market discussion provides useful insight into the implications of these market dynamics for cardholder rewards, merchant interchange fees, and card acceptance. The authors, both of whom have researched the industry for more than 25 years, also examine the implications of the recent antitrust cases on the industry as well as other business and technological changes—including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerce—that could alter the payment card industry dramatically in the years to come.
Book Synopsis Interchange Fees by : Richard Schmalensee
Download or read book Interchange Fees written by Richard Schmalensee and published by . This book was released on 2005 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the key contributions to the literature on the economics of interchange fees. The older literature tries to address the issue without rigorous modeling. Thus, it was possible even after Baxter's seminal contribution to suggest, as did Carlton and Frankel, that society might be better off mandating a zero interchange fee. The more recent literature still leaves many theoretical and empirical questions unanswered. However, several conclusions can be drawn from the efforts to model interchange fees formally by Rochet and Tirole, Schmalensee, and Wright.The cost and demand factors driving private fee-setting are closely related to those that determine socially optimal fees. Moreover, any deviation from social optimality will be the result of subtle differences between the two sides of the market - not from market power leading to excess profits for association members. No rigorous analysis supports the idea that a zero interchange fee or a fee set by regulators based on cost would generally raise welfare. Furthermore, while there is no guarantee that interchange fees set by associations will maximize social welfare, this does not imply that collective rate-setting is appropriate grist for antitrust scrutiny. The hallmark of anticompetitive pricing is excess profits and less-than-optimal output. Yet, there is no reason to believe that private setting of interchange fees generates excess profits for the colluding parties since competition in acquiring and issuing activities can be expected to dissipate any surplus revenue. The interchange fee has the effect of lowering costs on one side of the market and raising them on the other. Nor will interchange fees set above the socially optimal level generally restrict output.
Book Synopsis Two-Sided Market, R&D and Payments System Evolution by : Bin Grace Li
Download or read book Two-Sided Market, R&D and Payments System Evolution written by Bin Grace Li and published by International Monetary Fund. This book was released on 2019-03-18 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: It takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market setting. We calibrate the model to the U.S. payment card data, and conduct welfare and policy analysis. Our analysis shows that the market power of electronic payment networks plays important roles in explaining the slow adoption and asymmetric price changes, and the welfare impact of regulations may vary significantly through the endogenous R&D channel.
