Authors: Shaffer, Sherrill; Thomas, Lorein

Source: Applied Financial Economics, Volume 17, Number 9, June 2007 , pp. 755-767(13)

Publisher: Routledge, part of the Taylor & Francis Group

Abstract:

An improved empirical specification of credit card conduct agrees with several prior studies in rejecting perfectly competitive equilibrium, indicates structural disequilibrium in the industry and is consistent with monopolistic competition. Measures of liquidity management costs, omitted from prior studies, are shown to be important factors in a properly specified model of pricing conduct in credit card lending.

Document Type: Research article

DOI: http://dx.doi.org/10.1080/09603100600771042

Affiliations: 1: Department of Economics and Finance, University of Wyoming, Laramie, WY 82071, USA

Publication date: 2007-06-01

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