Bolt and Chakravorti discuss different types of market interventions by public authorities in retail payment markets. They concentrate on three types of market interventions. First, they analyze the impact of removing pricing restrictions placed on merchants that prevent them from setting different prices based on the payment instrument used to...
Chakravorti and Kobor provide a framework to study the creation and adoption of innovations by payment providers and processors. The authors identify several motivating factors for banks and nonbanks to invest in payment innovations. In addition, they discuss the evolutionary process of payment innovations from inception to commoditization and recognize...
Chakravorti and Emmons model side payments in a competitive creditâcard market. If competitive retailers absorb the cost of accepting credit cards by charging a higher goods price to everyone, then someone must subsidize convenience users of credit cards to prevent them from defecting to merchants who do not accept cards...