An agent-based model of interactions in the payment card market
Alexandrova-Kabadjova, B., Krause, A. and Tsang, E., 2007. An agent-based model of interactions in the payment card market. In: Yin, H., Tino, P., Corchado, E., Byrne, W. and Yao, X., eds. Intelligent Data Engineering and Automated Learning - IDEAL 2007. Vol. 4881. Springer, pp. 1063-1072. (Lecture Notes in Computer Science)
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We develop an agent-based model of the competition between payment cards by focusing on the interactions between consumers and merchants determining the subscription and usage of cards. We find that after a short period of time the market will be dominated by a small number of cards, even though there do not exist significant differences between cards and the market is fully competitive. In contrast to the existing literature we focus on the dynamics of market shares and emergence of multi-homing rather than equilibrium outcomes.
|Item Type||Book Sections|
|Creators||Alexandrova-Kabadjova, B., Krause, A. and Tsang, E.|
|Editors||Yin, H., Tino, P., Corchado, E., Byrne, W. and Yao, X.|
|Departments||School of Management|
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