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The European Central Bank (ECB) will offer to banks in 2013 an european shared platform for securities settlement, named TARGET 2 Securities (T2S), in order to open the national financial markets. The financial crisis did not change the ECB agenda. This paper develops a spatial competition model...
Persistent link: https://www.econbiz.de/10009369654
. There are two firms, an incumbent and a potential entrant. Compatibility means in our model that the inherent qualities of … maximal quality difference that allows compatibility i.e the compatibility interval is chosen by the incumbent which involves … sufficient condition on the market size of a standard vertical differentiation model remains valid under compatibility. However …
Persistent link: https://www.econbiz.de/10010750758
adopt new strategies : merger, simple or mutual links of interoperability. We develop a model of industrial organization to … the interoperability agreements are never reached at the equilibrium in spite of the fact that the "European code of good …
Persistent link: https://www.econbiz.de/10010738896