This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Payment Systems Are Different: Shouldn't Their Regulation Be Too?

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
John Simon () (Reserve Bank of Australia)

Additional information is available for the following registered author(s):

Abstract

This paper makes the case that the structure of payment systems is such that, in contrast to competition in normal markets, private incentives can encourage activities and pricing that do not necessarily improve social welfare. Furthermore, while there is usually a reasonable presumption that where arrangements do not breach antitrust laws they are efficient, this presumption does not necessarily carry over to payment systems. Thus, there is a case for the regulation of payment systems. In particular, the paper suggests that, because of the distinctive nature of payment systems, payment system specific regulation has a number of advantages over generic antitrust regulation.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.rnejournal.com/artman2/uploads/1/simon_RNE_dec05.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Article provided by Concept Economics in its journal Review of Network Economics.

Volume (Year): 4 (2005)
Issue (Month): 4 (December)
Pages: 364-383
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:rne:rneart:v:4:y:2005:i:4:p:364-383

Contact details of provider:
Web page: http://www.rnejournal.com

For technical questions regarding this item, or to correct its listing, contact: (Shirley Carpenter).

Related research
Keywords: RBA; Regulation; Credit cards; Australia;

Other versions of this item:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Lloyd Constantine, 2005. "The need for Federal Reserve and antitrust intervention in the failed U.S. debit and credit card markets," Proceedings – Payments System Research Conferences, Federal Reserve Bank of Kansas City, issue May, pages 157-167. [Downloadable!]
  2. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, 06. [Downloadable!] (restricted)
    Other versions:
  3. Jean-Charles Rochet & Jean Tirole, 2002. "Cooperation Among Competitors: Some Economics Of Payment Card Associations," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 549-570, Winter.
  4. Graeme Guthrie & Julian Wright, 2003. "Competing Payment Schemes," Departmental Working Papers wp0311, National University of Singapore, Department of Economics. [Downloadable!]
  5. Baxter, William F, 1983. "Bank Interchange of Transactional Paper: Legal and Economic Perspectives," Journal of Law & Economics, University of Chicago Press, vol. 26(3), pages 541-88, October.
  6. Whinston, Michael D, 1990. "Tying, Foreclosure, and Exclusion," American Economic Review, American Economic Association, vol. 80(4), pages 837-59, September. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? Apart from a small start up grant in the 1990's, RePEc has received no funding and lives on the help of volunteers.

This page was last updated on 2009-12-12.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.