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Working Paper
Retail pricing of ATM network services
This paper develops a model of wholesale and retail fee-setting for automated teller machine (ATM) network services, and comparative statics results are derived. Retail ATM fees are shown to be dependent on the demand-side network effect and economies of scale in production of network services. These, in turn, are functions of the size of the ATM network. Survey data on bank fees are linked with the bank's probable ATM network membership, and the retail ATM fees are regressed on ATM network size and other variables in a reduced-form estimation. The results suggest that both network effects in ...
Conference Paper
Financial institution strategic planning for retail services
Working Paper
The welfare consequences of ATM surcharges: evidence from a structural entry model
We estimate a structural model of the market for automatic teller machines (ATMs) in order to evaluate the implications of regulating ATM surcharges on ATM entry and consumer and producer surplus. We estimate the model using data on firm and consumer locations, and identify the parameters of the model by exploiting a source of local quasi?experimental variation, that the state of Iowa banned ATM surcharges during our sample period while the state of Minnesota did not. We develop new econometric methods that allow us to estimate the parameters of equilibrium models without computing ...
Working Paper
The impact of technology adoption on market structure
Journal Article
A guide to the ATM and debit card industry
Conference Paper
Keynote address: the networked bank
Conference Paper
The payment provider perspective
Journal Article
Shared ATM networks: an uneasy alliance
Working Paper
Compatibility and pricing with indirect network effects: evidence from ATMs
Incompatibility in markets with indirect network effects can reduce consumers? willingness to pay if they value ?mix and match? combinations of complementary network components. For integrated firms selling complementary components, incompatibility should also strengthen the demand-side link between components. In this paper, we examine the effects of incompatibility using data from a classic market with indirect network effects: Automated Teller Machines (ATMs). Our sample covers a period during which higher ATM fees increased incompatibility between ATM cards and other banks? ATM machines. ...
Conference Paper
Workshop overview