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Who Gains and Who Loses from Credit Card Payments?
Scott Schuh
其他書名
Theory and Calibrations
出版DIANE Publishing, 2010-11
主題Business & Economics / General
ISBN14379370129781437937015
URLhttp://books.google.com.hk/books?id=pkm0XaBHbw4C&hl=&source=gbs_api
EBookSAMPLE
註釋Merchant fees and reward programs generate an implicit monetary transfer to credit card users from non-card (or ¿cash¿) users because merchants generally do not set differential prices for card users to recoup the costs of fees and rewards. On average, each cash-using household pays $151 to card-using households and each card-using household receives $1,482 from cash users every year. The payment instrument transfer also induces a regressive transfer from low-income to high-income households in general. The authors build and calibrate a model of consumer payment choice to compute the effects of merchant fees and card rewards on consumer welfare. Reducing merchant fees and card rewards would likely increase consumer welfare.