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Abstract

Market Power and Efficiency in Card Payment Systems: A Comment

The Review of Network Economics

Vol. 5, Issue 1 - March 2006, pp 15 - 25



Author
  Luis M. B. Cabral
New York University and CEPR
E-mail: [email protected]

Abstract
  In this short comment, I provide my views on "Market Power and Efficiency in Card Payment Systems" (published in this issue) that was presented at the Antitrust Activity in Card-Based Payment Systems: Causes and Consequences conference, and more generally on the ideas introduced by Rochet and Tirole's work on payment systems.

Keywords: Interchange fees, usage externality, Rochet and Tirole

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