The Technology Acceptance Model (TAM) is an important analytical tool in the study of the social mechanisms of technology adoption, and has received considerable attention in the literature. Though empirical support for the model has varied depending on situation specifics, it remains a popular...

It takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market...