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- W1996314314 abstract "We develop a Nash game on the adoption of a new EFTPOS (Electronic Fund Transfer at Point of Sale) card payment media given cash is dispensed by a competitive ATM (Automated Teller Machine) network. Equilibrium conditions when cash and card use coexist entail a specific relationship between the card network coverage parameter (πk) and the proportion (ω) of cash financed expenditures. We derive a payments innovation technology constrained transactions demand for money which is highly interest rate sensitive in low interest rate regimes. Data on cash‐card use in the UK (1990–97) is used to calibrate the model." @default.
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- W1996314314 date "2003-04-01" @default.
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- W1996314314 title "Network Effects On Cash‐Card Substitution in Transactions and Low Interest Rate Regimes" @default.
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- W1996314314 doi "https://doi.org/10.1111/1468-0297.00124" @default.
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