The terms "window shopping" and "showrooming" refer to the activity in which potential buyers visit a brick-and-mortar store to examine a product but end up either not buying it or buying the product from an online retailer. This paper analyzes potential buyers who differ in their preference for...

The emergence of cashless stores has led several cities and states to ban such stores. This paper investigates this issue by characterizing consumers who pay cash for in-person purchases and consumers who do not have credit or debit cards. I construct a model of consumer payment choice and use...

This paper introduces cashless stores and cashless consumers into a model of interchange fees. Under this modification, the interchange fee set by the card organization exceeds the optimal level. Furthermore, the gap between this fee and the optimal fee increases with the fraction of consumers...

The emergence of cashless stores has led several cities and states to ban such stores. This article investigates this issue by characterizing consumers who pay cash for in-person purchases and consumers who do not have credit or debit cards. Using a random utility model, I estimate 1.3 to 30.9...

The emergence of cashless stores has led several cities and states to ban such stores. This article investigates this policy issue by characterizing consumers who pay cash for in-person purchases and banked and unbanked consumers who do not have credit or debit cards. Using a random utility...

Exclusion of borrowers from credit markets became a primary concern for regulators during the recovery from the recent recession. The paper analyzes loan-making institutions that set both interest rates and minimum credit requirements. We propose analytical measures of the degree of borrower...