This essay surveys the economic literature on interchange fees and the debate over whether interchange should be regulated and, if so, how. We consider, first, the operation of unitary payment systems, like American Express, in the context of the recent economic literature on two-sided markets,...

The outcome will provide a test of the power of efficiency arguments in merger cases. Howard Chang, David S. Evans, & Richard Schmalensee (Global Economics Group)

Our analysis has important implications for banking regulators and competition authorities around the world that are looking into interchange fees for debit and credit cards. David S. Evans (Univ. of Chicago, UCL), Robert E. Litan (Kaufmann Foundation), & Richard Schmalensee (MIT).

This paper provides a brief introduction to the economics of two-sided platforms and the implications for antitrust analysis.

Our analysis has important implications for banking regulators and competition authorities around the world that are looking into interchange fees for debit and credit cards. David S. Evans (Univ. of Chicago, UCL), Robert E. Litan (Kaufmann Foundation), & Richard Schmalensee (MIT).

For 20 years acid rain in the Adirondack Park has been a central issue in the debate about clean air regulation. Based on a contingent valuation survey of New York residents, our study quantifies the total economic value of expected ecological improvements in the park from forthcoming policies....

The methods that have been used to estimate the clinical and economic impact of vaccination programmes are not always uniform, which makes it difficult to compare results between economic analyses. Furthermore, the relative efficiency of vaccination programmes can be sensitive to some of the...