We introduce an analytical framework close to the canonical model of platfirm competition investigated by Rochet and Tirole (2006) to study pricing decisions in two-sided markets when two or more platfirms are needed simultaneously for the successful completion of a transaction. The model...

We examine whether the European settlement institutions are technically efficient. This is done by means of estimating a translog cost function, and investigating whether scale economies are fully exploited. Since the sample is quite heterogeneous, fixed effects regression is introduced. From...