Incompatibility across rival systems can influence incentives to invest in product changes beneficial to the consumer. We investigate this phenomenon in the case of bank ATM networks, where the number of ATM locations is a measure of product quality and surcharge fees serve as an index of...

Prior research on the structure‐performance relationship has not investigated all of the relevant relationships among market structure, profits, prices, and explicitly calculated measures of firm efficiency. This paper replicates the four approaches in the literature, adds several innovations,...