Carbó-Valverde, Santiago; Liñares-Zegarra, José M. - In: Journal of Banking & Finance 35 (2011) 12, pp. 3275-3291
Card issuers have mainly relied on rewards programs as their main strategy to increase usage. However, there is scarce evidence on the effectiveness of these programs. This paper is addressing two topics which could have important managerial and public policy implications: (i) it estimates the...