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Credit card rates and consumer search

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  • Mitchell Berlin
  • Loretta J. Mester

Abstract

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Bibliographic Info

Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 88-1.

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Date of creation: 1987
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Handle: RePEc:fip:fedpwp:88-1

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Related research

Keywords: Credit cards ; Interest rates;

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References

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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.:
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  1. Ausubel, Lawrence M, 1991. "The Failure of Competition in the Credit Card Market," American Economic Review, American Economic Association, American Economic Association, vol. 81(1), pages 50-81, March.
  2. Paul S. Calem & Loretta J. Mester, . "Consumer Behavior and the Stickiness of CreditCard Interest Rates," Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research 03-94, Wharton School Rodney L. White Center for Financial Research.
  3. Steven Salop & Joseph Stiglitz, 1977. "Bargains and ripoffs: a model of monopolistically competitive price dispersion," Special Studies Papers, Board of Governors of the Federal Reserve System (U.S.) 94, Board of Governors of the Federal Reserve System (U.S.).
  4. Stango, Victor, 2002. "Pricing with Consumer Switching Costs: Evidence from the Credit Card Market," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 50(4), pages 475-92, December.
  5. Loretta Mester, 2002. "Is the personal bankruptcy system bankrupt?," Business Review, Federal Reserve Bank of Philadelphia, Federal Reserve Bank of Philadelphia, issue Q1, pages 31-44.
  6. Grether, David M. & Schwartz, Alan & Wilde, Louis L., . "Uncertainty and Shopping Behavior: An Experimental Analysis," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 511, California Institute of Technology, Division of the Humanities and Social Sciences.
  7. Pratt, John W & Wise, David A & Zeckhauser, Richard, 1979. "Price Differences in Almost Competitive Markets," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 93(2), pages 189-211, May.
  8. Christine Pavel & Paula Binkley, 1987. "Costs and competition in bank credit cards," Economic Perspectives, Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago, issue Mar, pages 3-13.
  9. Wilde, Louis L & Schwartz, Alan, 1979. "Equilibrium Comparison Shopping," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 46(3), pages 543-53, July.
  10. Victor Stango, 2000. "Competition And Pricing In The Credit Card Market," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 82(3), pages 499-508, August.
  11. Mester, Loretta J, 1994. "Why Are Credit Card Rates Sticky?," Economic Theory, Springer, Springer, vol. 4(4), pages 505-30, May.
  12. Mathewson, G Frank, 1983. "Information, Search, and Price Variability of Individual Life Insurance Contracts," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 32(2), pages 131-48, December.
  13. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, American Economic Association, vol. 71(3), pages 393-410, June.
  14. Carlson, John A & McAfee, R Preston, 1983. "Discrete Equilibrium Price Dispersion," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 91(3), pages 480-93, June.
  15. Burdett, Kenneth & Judd, Kenneth L, 1983. "Equilibrium Price Dispersion," Econometrica, Econometric Society, Econometric Society, vol. 51(4), pages 955-69, July.
  16. Glenn B. Canner & Charles A. Luckett, 1992. "Developments in the pricing of credit card services," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), Board of Governors of the Federal Reserve System (U.S.), issue Sep, pages 652-666.
  17. Dahlby, Bev & West, Douglas S, 1986. "Price Dispersion in an Automobile Insurance Market," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 94(2), pages 418-38, April.
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Citations

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Cited by:
  1. Scholnick, Barry & Massoud, Nadia & Saunders, Anthony & Carbo-Valverde, Santiago & Rodríguez-Fernández, Francisco, 2008. "The economics of credit cards, debit cards and ATMs: A survey and some new evidence," Journal of Banking & Finance, Elsevier, Elsevier, vol. 32(8), pages 1468-1483, August.
  2. Paul S. Calem & Michael B. Gordy & Loretta J. Mester, 2005. "Switching costs and adverse selection in the market for credit cards: new evidence," Working Papers, Federal Reserve Bank of Philadelphia 05-16, Federal Reserve Bank of Philadelphia.
  3. Kevin Amess & Leigh Drake & Helen Knight, 2010. "An Empirical Analysis of UK Credit Card Pricing," Review of Industrial Organization, Springer, Springer, vol. 37(2), pages 101-117, September.
  4. Abbas Valadkhani & Sajid Anwar & Amir Arjonandi, 2012. "How to capture the full extent of price stickiness in credit card interest rates?," Economics Working Papers, School of Economics, University of Wollongong, NSW, Australia wp12-02, School of Economics, University of Wollongong, NSW, Australia.
  5. Ayadi, O. Felix, 1997. "Adverse selection, search costs and sticky credit card rates," Financial Services Review, Elsevier, Elsevier, vol. 6(1), pages 53-67.
  6. Massoud, Nadia & Saunders, Anthony & Scholnick, Barry, 2011. "The cost of being late? The case of credit card penalty fees," Journal of Financial Stability, Elsevier, Elsevier, vol. 7(2), pages 49-59, June.

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