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Payment system effi...
Payment system efficiency and pro-competitive regulation
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- Bergman, Mats, 1964- (författare)
- Göteborg University; Uppsala University
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(creator_code:org_t)
- Sveriges riksbank, 2003
- 2003
- Engelska.
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Ingår i: Economic Review. - : Sveriges riksbank. - 2001-029X. ; :4, s. 25-52
- Relaterad länk:
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http://archive.riksb...
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visa fler...
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https://urn.kb.se/re...
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Abstract
Ämnesord
Stäng
- Effective competition guarantees that prices are set at such a level that efficiency is promoted (resulting in so-called allocative efficiency), but in markets characterised by large returns to scale and strong network effects, it may be too costly to have more than one firm operating. In such markets, known as natural monopolies, technical efficiency is best achieved by a single firm. More generally, a given market may be too small to support enough firms to guarantee effective competition. This creates a dilemma: if the market is monopolised, market power and monopoly pricing will result in allocative inefficiencies, while if several firms are active, there will be technical inefficiencies (or positive network effects will not be fully exploited). In many natural monopolies, regulators have sought to resolve this dilemma by introducing pro-competitive regulation. This article discusses the merits of introducing regulations in the payment-system markets.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- betalningssystem
- nätverkseffekter
- tvåsidiga marknader
- konkurrenspolitik
Publikations- och innehållstyp
- vet (ämneskategori)
- art (ämneskategori)
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