Abstract: Policy analysis of the credit card has focused on two topics. The first is a series of works criticizing the contribution of the credit card to the consumerist ethos of the United States. A second topic, researched mainly by economists such as Lawrence Ausubel, on the one hand, and David Evans and Richard Schmalensee, on the other hand, debates whether the structure of the credit card industry has led to collusive and above-market pricing. What is missing, however, is a serious and critical assessment of the benefits that credit cards provide to society. Without a fair acknowledgment of the benefits, analysts cannot hope to provide a credible accommodation of the concerns the critics of credit cards articulate.
Publication Year: 2006
Publication Date: 2006-09-11
Language: en
Type: book-chapter
Indexed In: ['crossref']
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