Saxén, Frans - In: Journal of Industry, Competition and Trade 14 (2014) 1, pp. 39-66
We analyze the no surcharge rule (NSR) and its impact on merchant competition by comparing different surcharging regimes. Any constraint on surcharging, including the NSR is shown to be a competition-softening device. A NSR may induce socially excessive card use. Allowing imperfectly competitive...