This paper reexamines the economics of two common features of credit card networks: the interchange fee paid by merchant banks, or acquirers, to cardholder banks, or issuers; and the restraint commonly placed on merchants against surcharging for credit card transactions. We show that the...

Commentators have often Claimed that Canada's competition legislation is among the most economically sophisticated in the world. In large part, this claim is based on the explicit recognition given to efficiency as an overall criterion in the Competition Act (the "Act") (section 1.1) and as a...