Common Ownership in Fintech Markets

Endogenous Asset Ownership Structures in Deregulated Markets

This paper determines the equilibrium ownership structure in an emerging market deregulated by privatization and investment liberalization. It is shown that bidding competition in the privatization stage is necessary but not sufficient for reaching an efficient equilibrium market structure. Competition in the ensuing entry stage is also necessary. Otherwise, one firm can induce another to take ...

Tiers in Consumer Fractional Ownership Markets

In fractional ownership markets, consumers purchase a share in a property and can later exchange it with other owners through a secondary market. Forward-looking consumers may purchase low quality shares at a low price with the intention of trading up. This poses a serious problem. We show that firms can adopt a tiered approach for exchange so as to restore sales of high quality shares in the p...

The Virtues of Common Ownership

INTRODUCTION ............................................................................................. 1359 I. SANDEL’S THEORY OF JUSTICE: A “THICK REPUBLICANISM” ........... 1361 II. COMMON OWNERSHIP: LIBERAL AUTONOMY OR SUBSTANTIVE VALUES?............................................................................................ 1363 III. A NEW APPROACH TO THE COMMONS: RESOURCES, VALUES,...

Innovation in Payments: The Future is Fintech

FinTech and cloud in banking

The use of technologies in financial services is not new. Financial institutions have, for a long time, been implementing technological solutions to support the provision of services to their customers and to ensure compliance with their regulatory obligations. They have also long relied on outsourcing arrangements with external service providers for the provision of technological solutions. Ho...