| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12443 |
| 来源ID | Working Paper 12443 |
| The Welfare Consequences of ATM Surcharges: Evidence from a Structural Entry Model | |
| Gautam Gowrisankaran; John Krainer | |
| 发表日期 | 2006-08-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We estimate a structural model of the market for automatic teller machines (ATMs) in order to evaluate the implications of regulating ATM surcharges on ATM entry and consumer and producer surplus. We estimate the model using data on firm and consumer locations, and identify the parameters of the model by exploiting a source of local quasi-experimental variation, that the state of Iowa banned ATM surcharges during our sample period while the state of Minnesota did not. We develop new econometric methods that allow us to estimate the parameters of equilibrium models without computing equilibria. Monte Carlo evidence shows that the estimator performs well. We find that a ban on ATM surcharges reduces ATM entry by about 12 percent, increases consumer welfare by about 35 percent and lowers producer profits by about 20 percent. Total welfare remains about the same under regimes that permit or prohibit ATM surcharges and is about 17 percent lower than the surplus maximizing level. This paper can help shed light on the theoretically ambiguous implications of free entry on consumer and producer welfare for differentiated products industries in general and ATMs in particular. |
| 主题 | Financial Economics ; Financial Institutions ; Industrial Organization ; Market Structure and Firm Performance ; Regulatory Economics |
| URL | https://www.nber.org/papers/w12443 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570101 |
| 推荐引用方式 GB/T 7714 | Gautam Gowrisankaran,John Krainer. The Welfare Consequences of ATM Surcharges: Evidence from a Structural Entry Model. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12443.pdf（1549KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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