The cost to U.S. merchants of taking payment on debit cards declined by more than $7 billion annually as a result of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, while the effective cost to issuers of providing debit-card services to consumers increased by a corresponding amount. This article reports an event-study analysis of stock prices to…

Currently, there are only a few empirical studies that have studied the possible consequences of cartels on productivity growth. Empirical insights about cartels would be critical for competition authorities to examine and legitimize their own policies. Until 1998, the Netherlands had a permissive attitude towards cartels� cartels were required to register. The Netherlands� cartel…

Tacit collusion may reduce welfare comparably to explicit collusion, but it remains mostly unaddressed by antitrust enforcement that greatly depends on evidence of explicit communication. We propose to target specific elements of firms� behavior that facilitate tacit collusion by providing quantitative evidence that links these actions to an anticompetitive market outcome. We apply our…

Competition policy often relies on the assumption of a rational consumer, although other models may better account for people�s decision-making behavior. In three experiments, we investigate the influence of loyalty rebates on consumers based on the alternative Cumulative Prospect Theory (CPT). CPT predicts that loyalty rebates could harm consumers by impeding rational switching from a…

In this article, we discuss, from an economic perspective, two alternative views of restrictions of competition by sports associations. The horizontal approach views such restrictions as an agreement among the participants of a sports league with the sports association merely representing an organization executing the horizontal cooperation. In contrast, the vertical approach views the spor…

Tahun Terbit

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We conduct an employment growth model of all US county areas for the mild recession after 9/11 and the Great Recession. We find employment growth is positively related to educational attainment and state centralisation of fiscal responsibility and negatively related to manufacturing employment. We use Geographically Weighted Regression to explore the spatial diversity of responses and find neit…

This paper examines localities in terms of the impact of community culture on the resilience of their entrepreneurial activity. Drawing on a regression analysis of data covering localities in Britain for the period 2004�2011, it is found that an open and diverse culture is likely to aid the renewal and reorientation of local entrepreneurial activity. Overall, the study indicates that local…

Categorising organisations as either for-profit or nonprofit is a false dichotomy as existing for-profit firms are becoming more socially conscience while nonprofits are adopting profit-making activities to ensure their viability. This paper conceptualises the array of social practices as a continuum of social innovation and empirically demonstrates variation not captured by legal designation. …

The recent global economic crisis has illuminated the need to open up the �black box� which surrounds our understanding of the adaptive capacities of regional actors in the face of recessionary crises and how these relate to economic resilience. This paper contributes to this endeavour by developing a complex adaptive systems (CAS) framework for understanding who has agency within re…