payment networks, and to assess the way this affects competition and equilibrium fees. We analyze a situation in which … acceptance at the margin. - Payment pricing ; Card competition ; Consumer credit ; Complementarity …

We develop models of markets with procrastinating consumers where competition operates - or is supposed to operate … price competition fails at this stage as well. In fact, a competition paradox results: an increase in the number of firms or … returning ex-post profits to consumers, and in some cases even exacerbate the failure of price competition. Consumer …

This paper studies how competition and vertical structure jointly determine generating capacities, retail prices, and … before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …

generalise the approach and analyse the behaviour of a competition authority, which attaches different weights to the firms' and … restrictions also depends on the competition authority's instruments. The essential insights continue to apply if firms are …