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Fraud, Investments and Liability Regimes in Payment Platforms

hal.structure.identifier
dc.contributor.authorCreti, Anna*
hal.structure.identifierEconomie Quantitative, Intégration, Politiques Publiques et Econométrie [EQUIPPE]
dc.contributor.authorVerdier, Marianne*
dc.date.accessioned2014-06-18T17:24:13Z
dc.date.available2014-06-18T17:24:13Z
dc.date.issued2014
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/13540
dc.language.isoenen
dc.subjectPayment card systemsen
dc.subjectinterchange feesen
dc.subjecttwo-sided marketsen
dc.subjectfrauden
dc.subjectliabilityen
dc.subject.ddc338en
dc.subject.classificationjelG.G2.G21en
dc.subject.classificationjelL.L3.L31en
dc.subject.classificationjelL.L4.L42en
dc.titleFraud, Investments and Liability Regimes in Payment Platformsen
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherMINES ParisTech;France
dc.contributor.editoruniversityotherEQUIPPE, Faculté des Sciences Economiques et Sociales de Lille;France
dc.description.abstractenIn this paper, we discuss how fraud losses impact the price structure chosen by a monopolistic payment platform, if merchants can invest in fraud detection technologies. We show that liability rules bias the structure of the prices charged by the platform to consumers and merchants with respect to a case in which such a responsibility regime is not implemented. If consumers are liable for fraud, the profit-maximizing price structure is neither biased in favor of consumers nor merchants. If consumers are not liable for fraud, the platform lowers the price for merchants to provide them with investment incentives. Under the zero liability rule for consumers, the profit-maximizing allocation of fraud losses maximizes social welfare.en
dc.relation.isversionofjnlnameInternational Journal of Industrial Organization
dc.relation.isversionofjnlvol35
dc.relation.isversionofjnldate2014
dc.relation.isversionofjnlpages84-93
dc.relation.isversionofdoi10.1016/j.ijindorg.2014.06.003en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie industrielleen
dc.relation.forthcomingnonen
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
dc.relation.Isversionofjnlpeerreviewedoui
hal.faultCode{"duplicate-entry":{"hal-01111164":{"doi":"1.0"}}}
hal.author.functionaut
hal.author.functionaut


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