This paper focuses on the reform of accounting standards in China in 2007 and investigates its impact on equilibrium pricing in the audit market. We find that the concentration of the audit market and the probability of issuing modified audit opinions do not significantly change, but that audit fees increase significantly after the adoption of the new accounting standards in China. Deeper analy...

This paper analyzes the welfare implications of creating a Single Euro Payments Area. We study the effects of increased network compatibility and payment scale economies on consumer and merchant card fees and its impact on card usage. In particular, we model competition among debit cards and between debit and credit cards. We show that competitive pressures dampen merchant fees and increase tot...

O retailing provides an opportunity for new pricing options that are not feasible in traditional retail settings. This paper proposes an interactive, dynamic pricing strategy from the perspective of customized bundling to derive savings for customers while maximizing profits for electronic retailers (“e-tailers”). Given product costs, posted prices, shipping fees, and customers’ reservation pri...

Recently, the Association for Research in Vision and Ophthalmology (ARVO) took a major step forward in strengthening its journals program with the addition of a third title, Translational Vision Science & Technology (TVST). Along with TVST, ARVO’s family of journals now includes Journal of Vision (JOV) and, of course, IOVS. Together, they cover all facets of eye and vision research at the highe...

The move from traditional to open-access journals—which charge no subscription fees, only submission fees—is gaining support in academia. We analyze a two-sided-market model in which journals cannot commit to subscription fees when authors (who prefer low subscription fees because this boosts readership) make submission decisions. This leads to a hold-up problem, manifested as excessive subscri...

Many costs of motor vehicle use are external, and a significant portion of the charges that vehicle users do pay are fixed, and therefore not marginal. This is economically inefficient and inequitable. Distance-based fees are the best way to charge for many costs imposed by vehicles, including road use, insurance, pollution emissions, and other environmental impacts. Distance-based charges are ...

This paper examines the impact of …rm heterogeneities on equilibrium pricing behavior in an online market where an information gatekeeper charges click-through fees. As opposed to the assumption of Baye and Morgan (2001) that …rms pay the gatekeeper a …xed fee regardless of the number of clicks they receive, under a click-through regime, a …rm pays a listing fee only if it is clicked. This di¤e...