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Paying with Plastic: The Digital Revolution in Buying and Borrowing
     

Paying with Plastic: The Digital Revolution in Buying and Borrowing

by David Evans, Richard Schmalensee
 

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In Paying with Plastic, David Evans and Richard Schmalensee provide a nontechnical distillation of their years of research on the economic, technological, and institutional forces that have shaped the payment card industry. They show how competition works in an industry that does not neatly fit any of the standard economic models. They describe how the entrepreneurs

Overview

In Paying with Plastic, David Evans and Richard Schmalensee provide a nontechnical distillation of their years of research on the economic, technological, and institutional forces that have shaped the payment card industry. They show how competition works in an industry that does not neatly fit any of the standard economic models. They describe how the entrepreneurs in this industry solved the chicken-and-egg problem: merchants will not take cards if few consumers use them, and consumers will not use cards if few merchants take them. They also describe how the payment card companies such as MasterCard and Visa have developed complex systems for coordinating transactions among their thousands of bank members and millions of cardholders and accepting merchants. Evans and Schmalensee also describe recent developments in the industry and consider its likely evolution.

Product Details

ISBN-13:
9780262550376
Publisher:
MIT Press
Publication date:
08/28/2000
Edition description:
Older Edition
Pages:
387
Product dimensions:
6.00(w) x 9.00(h) x 0.80(d)

Meet the Author

David Evans is the author of the catalogue raisonné John Heartfield: AIZ/VI 1930-38 and a Research Fellow in Photography at the Arts Institute, Bournemouth, England. He has published numerous articles in such journals as Afterimage, Eye, and Source.

Richard L. Schmalensee is John C. Head III Dean and Professor of Management and Economics at the MIT Sloan School of Management. He is co-editor of Management: Inventing and Delivering Its Future (MIT Press, 2003).

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