Price differentiation and menu costs in credit card payments
نویسندگان
چکیده
منابع مشابه
Menu costs , firm size and price rigidity
If menu costs have a non-negligible lump-sum component and with larger firms having greater benefits from price adjustments, then larger firms will change price more frequently than smaller firms. Data from New Zealand firms support this hypothesis. Price duration decreases as firm size increases. Ordered probit analysis indicates the effect comes primarily from larger firms being more likely t...
متن کاملMenu Costs and Asymmetric Price Adjustment
We study optimal price setting by a monopolist in an in nite horizon model with stochastic costs, moderate ination, and costly price adjustment. For realistic parameters, chosen to replicate observed frequencies of price changes, the model ts numerically several empirical regularities. In particular, price reductions are larger but less frequent than price increases, and prices respond consid...
متن کاملWho Gains and Who Loses from Credit Card payments?
Merchant fees and reward programs generate an implicit monetary transfer from “cash” users to credit card users because merchants generally do not set differential prices for card users to recoup the costs of merchant fees. On average, each cash-using household transfers $50 to households that use credit cards, and each credit card using household receives a subsidy of $240 every year. Among ca...
متن کاملSecuring NFC Credit Card Payments Against Malicious Retailers
The protocol by which “contactless” (NFC) credit cards operate is insecure. Previous work has done much to protect this protocol from malicious third parties, e.g. eavesdroppers, credit card skimmers, etc. However, most of these defenses rely on the retailers being honest, and on their Points of Sale following the credit card protocol faithfully. In this paper, we extend the threat model to inc...
متن کاملSecuring on-line credit card payments without disclosing privacy information
Two revisions of the original Secure Electronic Transaction (SET) protocol are proposed to conceal cardholders’ identities in the electronic marketplace in which cardholders’ trust for banks can be reduced to a minimum. Constrained by being extensions of the existing card payment networks to the Internet, most on-line credit card payment schemes in use or proposed in recent papers assume the se...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Studies
سال: 2016
ISSN: 0144-3585
DOI: 10.1108/jes-08-2014-0152