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PLASTIC CLASHES: COMPETITION AMONG CLOSED AND OPEN PAYMENT SYSTEMS

机译：塑料垃圾：封闭式和开放式付款系统之间的竞争

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摘要

This paper analyses market competition between two different types of payment schemes: card associations and proprietary systems. The main focus is on the role of the collective setting of the interchange fee by members of the association. We describe the sterilizing role of the interchange fee: when the interchange fee is set so as to maximize the sum of issuers' and acquirers' profits, the equilibrium values of platforms' profits, of the sum of the fees charged by each platform and their market shares are independent of the competitive conditions within the associated members on the two sides of the market and are affected by the strength of inter-platform competition. We also show that the privately set interchange fee is socially inefficient, although this is not due to anti-competitive reasons.
机译：本文分析了两种不同类型的支付方案之间的市场竞争：卡关联和专有系统。主要重点是协会成员对交换费的集体设定的作用。我们描述了交换费的消毒作用：设定交换费以使发行人和收购人的利润之和最大化时，平台利润的均衡值，每个平台收取的费用之和市场份额不受市场两侧关联成员内部竞争条件的影响，并且受平台间竞争强度的影响。我们还表明，私人设置的交换费在社会上效率低下，尽管这不是由于反竞争原因造成的。

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  • 来源
    《The Manchester school》 |2011年第6期|p.1099-1125|共27页
  • 作者

    FABIO M. MANENTI; ERNESTO SOMMA;

  • 作者单位

    Universitd di Padova;

    Universita degli Studi di Bari Presidency of the Council of Ministers;

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  • 正文语种 eng
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