Greater digitization of commerce has brought enormous benefits to businesses and consumers. By using digital payment capabilities and online marketplaces, many micro, small, and medium enterprises (MSMEs) are more able to compete with larger firms through greater customer choice and reach. This paper examines the results of a Visa Economic...
Bob Chakravorti was a guest lecture in Heather Russell's graduate law FinTech Program at Boston University Law School. Bob discussed the potential roles for cryptocurrencies and blockchains in finance.
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...