MUST-TAKE CARDS: MERCHANT DISCOUNTS AND AVOIDED COSTS

Must-Take Cards: Merchant Discounts and Avoided Costs∗

Antitrust authorities often argue that merchants cannot reasonably turn down payment cards and therefore must accept excessively high merchant discounts. The paper attempts to shed light on this “must-take cards” view from two angles. First, the paper gives some operational content to the notion of “must-take card” through the “avoided-cost test” or “tourist test”: would the merchant want to re...

An Examination of Avoided Costs in Utah

Avoided Costs from Substance Abuse Treatment in Kentucky 45 Section Six Avoided Costs from Substance Abuse Treatment in Kentucky Avoided Costs from Substance Abuse Treatment in Kentucky

Modeling and Analyzing Incremental Quantity Discounts in Transportation Costs for a Joint Economic Lot Sizing Problem

Joint economic lot sizing (JELS) addresses integrated inventory models in a supply chain. Most of the studies in this field either do not consider the role of the transportation cost in their analysis or consider transportation cost as a fixed part of the ordering costs. In this article, a model is developed to analyze an incremental quantity discount in transportation cost. Appropriate equatio...

The road we must take: multidisciplinary team science.

Translational research is acknowledged to be complex and to require a diverse skill set. Many organizations, particularly academic institutions, have invested in educational programs, facilities, and enhanced resources to encourage translational research. Critically needed, however, is an emphasis on creating and sustaining multidisciplinary research teams. It is through the power of many and a...