Wiss. Hochsch.für Unternehmensführung (WHU), Diss.--Vallendar, 2006.

Univ., Diss.--Tübingen, 2003. / Literaturverz. S. 198 - 206.

Submitted by Deivis Angeli (deivisangeli@gmail.com) on 2018-06-06T06:09:47Z No. of bitstreams: 1 DynamicCoordinationWithNetworkExternalities.pdf: 394741 bytes, checksum: e157b70d33e77a4676224e1c72a1e34d (MD5) / Approved for entry into archive by Katia Menezes de Souza (katia.menezes@fgv.br) on 2018-06-06T12:05:15Z (GMT) No. of bitstreams: 1 DynamicCoordinationWithNetworkExternalities.pdf: 394741 bytes, checksum: e157b70d33e77a4676224e1c72a1e34d (MD5) / Approved for entry into archive by Suzane Guimarães (suzane.guimaraes@fgv.br) on 2018-06-06T12:50:08Z (GMT) No. of bitstreams: 1 DynamicCoordinationWithNetworkExternalities.pdf: 394741 bytes, checksum: e157b70d33e77a4676224e1c72a1e34d (MD5) / Made available in DSpace on 2018-06-06T12:50:08Z (GMT). No. of bitstreams: 1 DynamicCoordinationWithNetworkExternalities.pdf: 394741 bytes, checksum: e157b70d33e77a4676224e1c72a1e34d (MD5) Previous issue date: 2018-05-09 / I analyze a dynamic coordination model under quasi-hyperbolic discounting. The main result is that present bias can induce a society to coordinate efficiently. When considering a transition from network A to B, higher present bias induces individuals to ask for higher relative quality of B, which is also what the central planner dictates, but for different reasons. Present biased agents overvalue relative quality, as positive externalities coming from more individuals in network B are more distant in the future, because transitioning takes time. The planner's motives are the negative externalities inflicted on agents 'stuck' in A during a transition. / É analizado um modelo de coordenação dinâmica sob desconto quasi-hiperbólico. O resultado principal é que a presença de miopia temporal pode induzir uma sociedade a coordenar eficientemente. Considerando a transição de uma rede A para uma rede B, maior miopia temporal induz indivíduos a serem mais exigentes em termos de qualidade intrínseca relativa da rede B, o que é a mesma coisa que um planejador central ditaria, mas por razões diferentes. Indivíduos com miopia temporal valorizam excessivamente a qualidade relativa, pois as externalidades recebidas por haver muitos indivíduos na rede B estão em um futuro distante e as transições não são imediatas. Os motivos da sugestão do planejador central são as externalidades negativas infligidas em agentes 'presos' na rede A durante uma transição.

Cette thèse vise à présenter des éléments nouveaux sur quelques questions clés relatives à l’architecture du système monétaire et financier international permettant d’éclairer les enjeux de son évolution possible au cours des années à venir. Les deux premiers chapitres présentent des éléments empiriques en faveur du « regard nouveau » sur la concurrence entre monnaies internationales. Ils étudient deux dimensions de l’utilisation internationale d’une monnaie, à savoir son rôle comme instrument de financement dans les marchés obligataires internationaux et celui de moyen de paiement des transactions internationales pour un bien homogène comme le pétrole. Le troisième chapitre met en lumière une source d’inertie dans le choix des monnaies internationales autre que les externalités et rendements croissants liées aux effets de réseau qui a attiré jusqu’à présent moins d’attention, à savoir les coûts fixes et les effets d’apprentissage endogènes. Le dernier chapitre identifie le risque d’aléa moral comme canal permettant à l’accumulation de réserves d’avoir des effets inflationnistes. / This dissertation presents new evidence on selected issues relating to the architecture of the international monetary and financial system, which might help shed some light on its potential evolution in the period ahead. The first two chapters of the dissertation provide new evidence in support of the “new view”. They study two different dimensions of international currency use, namely the role of currencies as financing units in the global bond market and their role as means of payment in international transactions in homogenous goods, specifically in the global oil market. The third chapter sheds light on a source of persistence in international currency use besides network externalities and increasing returns which had attracted less attention hitherto, namely sunk costs and endogenous learning effects. The last chapter identifies moral hazard as a channel through which reserve accumulation can have inflationary effects.

A progressive shift from cash and card –based in-store payments, towards contactless mobile payments, is currently in the making on the European market. This shift would imply payments in stores to be performed in a fast, simple, secure and preferably less costly manner, between a consumer´s mobile phone and a merchant´s payment terminal. Technologies such as Near Field Communication (NFC) and the use of Quick Response (QR) -codes, both facilitate such contactless payments, and have already built momentum in many European countries. This implies an undoubtedly very tempting new payment experience by the use of mobile phones. However, this shift entails several uncertainties and issues regarding the crystallization of the new “industry” that is forming. These issues regard social, organizational as well as market –related aspects, and adhere to stakeholders on both the provider- and user- side of contactless mobile payment products and services. It has been found that there is a great need for new research on this matter, from a more holistic perspective, where theories on industrial dynamics, developments and user adoption could be used to guide and explain these new industry-impeding issues as well as reveal new ones. This master thesis aims to answer this call – by using such theories in conjunction with a multi-stakeholder perspective from a wide base of empirically gathered data – in order to find, interpret and shed new light on key issues that impede the development and adoption of contactless mobile payments on the European market. It was deemed necessary to first conduct a thorough literature review on the current mobile payments landscape in Europe, in order to find out which key issues seem to be existent on the European market (adhering to both providers and users of mobile payment solution), with the intention to presuppose from those issues for further guidance of choices in theories and construction of empirical data gathering methodology. The theoretical framework was in such way built upon five different but highly interconnected theoretical concepts on new industry evolvement, strategy and adoption. The empirical data was gathered from a two-day conference on mobile payments in Europe, as well as from 10 in-depth interviews with different key stakeholders on the Swedish and European market. The theoretical framework and the empirical data was later merged for analysis purpose, in order to find, interpret and shed new light on these and other issues on contactless mobile payment development and adoption on the European market. This has led to some key findings or conclusions. Firstly, the literature review on the current mobile payments market in Europe revealed some key issues. On the provider-side of the stakeholder spectra; issues mainly revolve around collaboration and competition, where business models are hard to standardize due to the unevenly distributed control and power over the users. This was seen to relate heavily to the NFC Secure Element (SE) -placement, holding the consumers´ payment credentials, since different stakeholders prefer different SE -placements (on the SIM –card or integrated in the mobile phone). Some big actors have also created their own – more of end-to-end - contactless payment solutions, complicating the evolvement even further. This might further lead to issues related primarily to; early and late movers among providers, alternative mobile payment solutions, as well as issues related to interoperability between solutions/technologies as well as across borders. Security concerns have also been highlighted in the literature as a prioritized matter. Among the user-side of the stakeholder spectra; key issues relate to the adoption of in-store contactless mobile payments, such as investment costs for merchants to implement new hardware and/or software (terminals, mainly NFC -compatible), security concerns, reluctance in behavioral change among consumers´ payment habits, and uncertainties in the perceived added value through these new types of payments compared to foremost card payments. Secondly, after merging the theoretical framework with the empirical data for analysis purpose, it was revealed that the uncertain role of mobile network operators creates tensions in the ecosystem on various levels and to various extents. Secondly, preemption strategies utilized by indigenous firms in European countries shows the possibility of hampering payment interoperability, and first-movers risk hurting not only themselves, but the entire mobile payment ecosystem, if security breaches are discovered due to technological uncertainties. This is one strong reason for banks to move slower, but they mightcontradictively risk losing some of their high trustworthiness towards other stakeholders if being too passive. Moreover, two additional trade-off issues were discovered (technology/business model standardization versus innovation, and too many features in the provided offering versus too few features in the provided offering). The first of these trade-offs is further damaging for the ecosystem since there are strong differences in opinions on the matter, as well as what might increase adoption speed. The second trade-off is important to take into consideration where payment card penetration-rate is high. An additional factor carrying issues was the explicit focus of providers on only one side (consumers) in a two-sided market (consumers and merchants). Also, merchants can not be seen as a homogenous group. Finally, the “chicken and egg” –problem seem do not seem to be such a big of a problem after all.

This dissertation investigates the relationship of competition and firms' price responses, by analyzing: i) whether new entry reduces price discrimination, ii) when incumbents reduce price discrimination preemptively in response to the threat of entry, and iii) how competition increases prices. The dissertation consists of three independent essays addressing each of the above questions. The first two essays present an empirical analysis of the airline industry and the third essay presents a theoretical analysis of the credit card industry. In the empirical study of the relationship between competition and firms' pricing in the airline industry, I emphasize the importance of distinguishing the equilibrium behaviors with respect to different market characteristics. Major airlines can price discriminate differently in a market where they compete with low-cost carriers comparing to in another market where they don't, and also they can respond dfferently to the threat of entry depending on whether they are certain about the rival's future entry. The study reveals that competition has a positive effect on price discrimination in the routes where major airlines compete against one anther. In these routes, competition reduces lower-end prices to a greater extent than upper-end prices. In contrast, an entry by low-cost carriers results in a significant negative relationship between competition and price discrimination. Thus, the opposite results in the literature are both evident in the airline industry, and it is very important to identify the different forces of competition on price discrimination. Firms can respond to potential competition as well as actual competition. So, I extend the study to the relationship of potential competition and price discrimination, specially in cases where major airlines compete against one another while facing Southwest's threat of entry. I also attempt to suggest major airlines' motives of reducing price discrimination preemptively. The results of the study suggest that incumbents reduce price dispersion when it is possible to deter the rival's entry and that the potential rival discourages incumbents from deterring entry by announcing before its beginning service. Finally, I examine when competition can increase prices in a market, by analyzing the issuing side of the credit card industry. This industry is characterized by a two-sided market with a platform. Under the no-surcharge rule that restricts merchants to set the same price for cash and card purchases, the equilibrium interchange fee increases with competition. This occurs because issuers can compensate losses from competing on the issuing side by collectively increasing the interchange fee. As a result, limiting competition may improve social welfare when the interchange fee is higher than the social optimal level. In contrast, in the absence of the no-surcharge rule, the analysis shows that competition always improves social welfare by lowering the price of the market.

Univ., Diss.--München, 2002. / Literaturverz. S. 241 - 250.

Made available in DSpace on 2010-04-20T21:00:38Z (GMT). No. of bitstreams: 4 Caio Virgilio Bueno Magano.pdf.jpg: 2608 bytes, checksum: b5a70714a999071fc1425270ace18755 (MD5) Caio Virgilio Bueno Magano.pdf.txt: 95868 bytes, checksum: 9d7fd7da02405bc294abc9b910f035ee (MD5) license.txt: 4712 bytes, checksum: 4dea6f7333914d9740702a2deb2db217 (MD5) Caio Virgilio Bueno Magano.pdf: 622476 bytes, checksum: 23bef7a31891f0ff3e8b42b57ac6e628 (MD5) Previous issue date: 2010-02-05T00:00:00Z / Esta dissertação avalia quais foram os resultados da introdução da portabilidade no mercado de telefonia móvel brasileiro procurando entender os fatores que influenciaram este processo negativamente. Ela investiga especificamente como se comportou, depois da regulação, a participação de mercado das prestadoras de serviço em diferentes localidade do país. O principal questionamento realizado é se, no momento da transição, quando os entraves econômicos percebidos pelos usuários diminuíram, a concentração de mercado caiu ou se a presença de promoções em tarifas de ligações efetuadas dentro de uma mesma rede eventualmente induziu o comportamento inverso. / This thesis evaluates what were the results of the introduction of portability in the Brazilian mobile market trying to understand what were the factors that influenced this process negatively. It specifically investigates how the market share of service providers behaved after regulation in different location of the country. The main question been made is whether, at the time of transition, when economic barriers perceived by users decreased, market concentration has fallen or if the presence of discounts on fares of calls within the same network eventually induced the opposite pattern.

Cette thèse comporte trois chapitres. Le premier chapitre décrit les moyens de paiement permettant le transfert de monnaie électronique (e-monnaie), les déterminants de leur adoption et leur usage dans le monde. Les deux chapitres suivants sont des articles qui analysent la concurrence entre la monnaie fiduciaire et l’e-monnaie à partir du modèle de Lagos-Wright (2005). Dans le premier article, à la différence des espèces, la détention d’e-monnaie est garantie contre le risque de perte ou de vol, et les marchands doivent investir pour recevoir l’e-monnaie. Du fait des complémentarités stratégiques entre les acheteurs et les vendeurs, il existe une multiplicité d’équilibres où seule une monnaie, ou les deux circulent. Nous analysons le bien-être et quantifions le modèle pour expliquer l’échec de l’e-monnaie en Europe et son succès en Asie et aux Etats-Unis. Dans le second article, les espèces concurrencent la monnaie mobile (M-monnaie). Les agents peuvent créer des partenariats et chaque transaction est réglée avec un seul moyen de paiement. Les agents sans partenaire utilisent les espèces, les autres utilisent l’M-monnaie. Les acheteurs avec un partenaire détiennent toujours de l’M-monnaie, seule ou en complément des espèces, alors que les acheteurs sans partenaire utilisent soit l’une, soit l’autre, soit les deux, soit aucune monnaie. Cependant, l’M-monnaie ne remplace les espèces que si le nombre de vendeurs traditionnels est très faible et l’inflation pas trop élevée. Ainsi, le partenariat est un mécanisme de coordination qui explique le succès des applications de paiement mobile proposées par des enseignes à leurs clients fidèles aux Etats-Unis. / This thesis has three chapters. The first chapter describes the means of payment allowingthe transfer of electronic money (e-money), the determinants of their adoption and their usein the world. The following two chapters are articles that analyze the competition between fiat money and e-money from the Lagos-Wright model (2005). In the first article, unlike cash, the holding of e-money is guaranteed against the risk of loss or theft, and merchants must invest to receive e-money. Due to strategic complementarities between buyers andsellers, there is a multiplicity of equilibria where only one money, or both, circulate. We analyze welfare and quantify the model to explain the failure of e-money in Europe and its success in Asia and in the United States. In the second article, cash competes with mobilemoney (M-money). Agents can create partnerships and each transaction is settled with one means of payment only. Agents without a partner use cash, the others use M-money.Buyers with a partner always hold M-money, alone or in addition to cash, while buyers without a partner use either one, or the other, or both, or no money. However, M-money replaces cash only if the number of traditional sellers is very low and inflation not too high.So, partnership is a coordination mechanism that explains the success of mobile payment applications offered by brands to their loyal customers in the United States.

Rapid digitalisation development has been stampeding widely across today’s societies, and not least in the payment industry. Though, the digitalisation in the payment industry has been very deviating, even between similar well-developed countries, and while there are positive and negative effects with both digital- and physical payment means, there is little knowledge that highlights the influencing factors and accompanied problems. This study therefore explore swhich, and how, different factors influence a country’s degree of digital payments, and creates further understanding of where the payment markets are heading in the future. It is done through a case study of four different industrialised countries, Sweden, Italy, Canada, and Switzerland which involves mapping the countries’ payment markets, as well as potential factors influencing a population’s payment habits, through a perspective of innovation theory in terms of dominant designs and technological discontinuities. Theory of network externalities and two-sided platforms are further used to explain and discuss how a two-sided market, likethe payment market, is affected by changes and other circumstances in different ways.Conclusions are then drawn from the used theories together with a comparison of the findings,and identifies certain influencers to a country’s distribution of payments, as well as provides indications of where the different payments markets are heading in the future. Data is mainly gathered through written material and credible databases, but also from semi-structured interviews. / Den snabba digitaliseringen har slagit sig fram i dagens samhällen, och inte minst i betalningsindustrin. Dock har digitaliseringen i betalningsindustrin varit mycket avvikande mellan liknande välutvecklade länder, och medan det finns positiva och negativa effekter med både digitala och fysiska betalningsmedel, finns det inte mycket kunskap om påverkandefaktorer och medföljande problem. Denna studie undersöker därför vilka, och hur, olika faktorer påverkar ett lands grad av digitala betalningar, och vidare skapar ytterligare förståelse för var betalningsmarknaderna är på väg framöver. Detta görs genom en fallstudie av fyra olika industrialiserade länder, Sverige, Italien, Kanada och Schweiz, som innebär en kartläggning av ländernas betalningsmarknader, och av potentiella faktorer som påverkar befolkningens betalningsvanor, genom ett perspektiv från innovationsteori i form av dominerande design och tekniska diskontinuiteter. Teori om nätverksexternaliteter och tvåsidiga plattformar används vidare för att förklara och diskutera hur en tvåsidig marknad som betalningsmarknadenpåverkas av förändringar och andra omständigheter. Slutsatser dras sedan från de användateorierna tillsammans med en jämförelse av resultaten och identifierar påverkande faktorer tillett lands betalningsdistribution, samt ger indikationer på var de olika betalningsmarknaderna är på väg framöver. Data samlades huvudsakligen in genom skriftligt material och från tillförlitliga databaser, men även från semistrukturerade intervjuer.