Switching costs and network effects bind customers to vendors if products are incompatible,
locking customers or even markets in to early choices. Lock-in hinders customers from …

Against a background of far-reaching structural change in the banking sector, this article
reviews the recent academic literature on developments in European banking. European …

This book provides a compendium to the empirical work investigating the hypotheses
generated by recent banking theory. Such a compendium is overdue. Since the publication …

We combine recent findings from the empirical banking literature with established insights
from studies of banking competition and regulation. Motivated by modern theory of financial …

Does too much competition in banking hurt society? What policies can best protect and
stabilize banking without stifling it? Institutional responses to such questions have evolved …

This paper provides a critical survey of the large and diffuse literature on credit cards, debit
cards and ATMs. We argue that because there are still many outstanding issues and …

The developed world exhibits substantial but poorly understood differences in the efficiency
and quality of low value payment services. This paper compares payment arrangements in …

I develop a structural demand model for mobile telephony that facilitates the identification of
network effects and inter-network compatibility. Network effects are measured as the …

The behavioral literature suggests that minor frictions can elicit desirable behavior without
obvious coercion. Using closures of ATMs in a densely populated city as an instrument for …

The present study evaluates the hypothesis that countries where banks expand financial
access through branches and ATM networks have smaller interest rate spreads. To do so …