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Compétition pour les paiements : une titanomachie revisitée par la modélisation multi-agents

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  • Sandra Deungoue

    ()
    (GATE, University of Lyon, CNRS, ENS-LSH, Centre Léon Bérard, France)

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    Abstract

    The main purpose of this paper is to study the economics of interchange fee in payment card association. The different arrangements for interchange fees and the nosurcharge rule lower the level of competition intensity that would otherwise have occurred and push interchange fees up. In many countries, competition regulators carried out investigations on the lack of transparency and competition in these card-based payment systems, and took measurements for an optimal determination of interchange fees. To help understand and predict the evolution of payment markets, we use an agent-based model that simulates strategic behaviours for different levels of interchange fee. We thus observe the social welfare and the intensity of competition on both the buyer and seller sides of intermediate markets.

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    File URL: ftp://ftp.gate.cnrs.fr/RePEc/2008/0810.pdf
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    Bibliographic Info

    Paper provided by Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure in its series Working Papers with number 0810.

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    Length: 42 pages
    Date of creation: 2008
    Date of revision:
    Handle: RePEc:gat:wpaper:0810

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    Keywords: agent-based models; payment systems; two-sided markets;

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    1. Graeme Guthrie & Julian Wright, 2003. "Competing Payment Schemes," Departmental Working Papers wp0311, National University of Singapore, Department of Economics.
    2. Joshua S. Gans & Stephen P. King, 2003. "A Theoretical Analysis of Credit Card Reform in Australia," The Economic Record, The Economic Society of Australia, vol. 79(247), pages 462-472, December.
    3. Wilko Bolt & David Humphrey & Roland Uittenbogaard, 2005. "The Effect of Transaction Pricing on the Adoption of Electronic Payments: A Cross-Country Comparison," DNB Working Papers 071, Netherlands Central Bank, Research Department.
    4. Baxter, William F, 1983. "Bank Interchange of Transactional Paper: Legal and Economic Perspectives," Journal of Law and Economics, University of Chicago Press, vol. 26(3), pages 541-88, October.
    5. Kiyotaki, Nobuhiro & Wright, Randall, 1989. "On Money as a Medium of Exchange," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 927-54, August.
    6. Gans Joshua S & King Stephen P, 2003. "The Neutrality of Interchange Fees in Payment Systems," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-18, January.
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