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Working Paper
Conduct in a banking duopoly
Working Paper
Regulatory distortion of competition
Working Paper
Transaction costs and option configuration
Journal Article
Challenges to small banks' survival
Working Paper
Potential merger synergies among large commercial banks
Working Paper
Evidence of monopoly power among credit card banks
Working Paper
Network diseconomies and optimal structure
This paper explores the effect on costs when firms within an industry must interact with each other in the normal course of business. Such interaction will generally cause the socially optimal scale of each firm to deviate from its minimum average cost scale. In addition, the socially optimal industry structure may be more concentrated than conventional firm-level cost studies would suggest and may also differ from the unregulated (free-entry) equilibrium structure. These concepts, while potentially applicable to several industries, are here made more precise for the banking industry, both ...
Working Paper
The discount window and credit availability
Working Paper
The translog form and declining average costs