Assessing effects of price regulation in retail payment systems

This paper considers effects of price regulation in retail payment systems by applying the model of tele-communications competition by Laffont-Rey-Tirole (1998). In our two-country model world there is one retail payment network located in each country and markets are segmented à la Hotelling. We show that the optimal price under price regulation is the weighted average of pre-regulation domestic and cross-border prices where the degree of home-bias in making payments serves as the weight. Furthermore, we find that the general welfare effects of price regulation are ambiguous: gross social welfare is higher un-der price discrimination than under price regulation in the special case where costs of access to banking services (transportation costs) are high. However, there also exist cases where prohibitively high transac-tion costs make price discrimination to reduce total welfare. Finally, if transportation costs are reduced sufficiently, segmentation of payment markets is eliminated. Markets then become fully-served as in the original Laffont-Rey-Tirole model, suggesting that price discrimination would be beneficial for welfare.payment systems; price regulation; retail payments

Integrating European retail payment systems: some economics of SEPA

Using a spatial competition model of retail payment networks, this paper discusses the likely economic consequences associated with the formation of the Single Euro Payments Area (SEPA). The model considers an expansion of positive network externalities on the demand side and adjustment cost on the supply side and reveals that the introduction of SEPA may not lead to a fully competitive and integrated retail payment markets. This is especially the case when the markets are segments before the introduction of SEPA. In such a scenario, the post-integrated markets are likely to remain segmented or will be characterised by a kinked equilibrium where no significant price competition takes place. In both outcomes, SEPA leads to increased prices, larger network sizes (ie increased number of customers) and a higher consumer surplus. Additionally, if the SEPA-induced adjustment costs for payment networks are not prohibitively high, SEPA may also lead to an increase in both profits and social welfare.integration; network effects; retail payments

Competition and regulation in European retail payment systems

In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many characteristics in common with network industries. On the other hand, since the provision of payment services also has many special characteristics, the regulatory tools commonly used in many other network industries cannot be applied directly. In general, the main role of payment system regulators is to provide a level playing field for different service providers. To secure dynamic efficiency, the regulators also need to ensure adequate incentives for innovation and investment. In this respect, it is important that they do not take too restrictive an attitude towards cooperation among payment service providers. In addition to general policy analysis, the study also analyses developments in the European retail payment system field and the roles and aims of market participants.competition policy; payment systems; retail payments; network economics

Competition and regulation in European retail payment systems

In this study, the interaction between the competition-cooperation nexus and regulation in retail payment systems is analysed by applying the main lessons from the theory of network industries. This is justifiable on the grounds that the payment systems industry inherently has many characteristics in common with network industries. On the other hand, since the provision of payment services also has many special characteristics, the regulatory tools commonly used in many other network industries cannot be applied directly. In general, the main role of payment system regulators is to provide a level playing field for different service providers. To secure dynamic efficiency, the regulators also need to ensure adequate incentives for innovation and investment. In this respect, it is important that they do not take too restrictive an attitude towards cooperation among payment service providers. In addition to general policy analysis, the study also analyses developments in the European retail payment system field and the roles and aims of market participants.Competition policy, payment systems, retail payments, network economics

Biohajoavia katteita vihannesten rikkakasvintorjuntaan

Luomupuutarhatuotannon keskeisimmät viljelytekniset ongelmat koskevat kasvinsuojelua, ravinnehuoltoa sekä luomutuotantoon sopivia lajeja ja lajikkeita. Merkittävä kasvinsuojeluhaaste luomussa ovat rikkakasvit. Rikkakasvien torjuntaan tarvitaan integroidun torjunnan (IPM) keinoja, joista katteiden käyttö on tehokas vaihtoehto vihannesten riviviljelyssä. Rikkakasvien torjuntaan perinteisesti käytetyt muovikatteet aiheuttavat ympäristöongelmia. Uuden kehitetyn innovaation, biohajoavan paperipohjaisen katteen soveltuvuutta luomutuotantoon, tehoa rikkakasvien torjunnassa sekä vaikutuksia mansikan ja eri vihannesten kasvuun on testattu koekentillä ja käytännön tiloilla vuosina 2011˗2016. Biohajoavia katteita vertailevissa kenttäkokeissa on ollut mukana markkinoilla olevia tärkkelyspohjaisia tuotteita, tuotekehitysversioita paperikatteista ja verranteina kattamaton penkki ja musta muovi. Maa- ja elintarviketalouden tutkimuskeskuksen (MTT) ja nyttemmin Luonnonvarakeskuksen (Luke) osallistuminen biohajoavien katteiden tuotekehitykseen on perustunut laajempaan tavoitteeseen hyödyntää pyrolyysitekniikalla tuotettuja tisleitä erilaisiin kasvinsuojelutarkoituksiin, tässä tapauksessa paperipohjaisiin katemateriaaleihin. Tisleiden avulla pystytään säätelemään paperin hajoamisnopeutta. Yhteistyö suomalaisten paperinvalmistajien kanssa on jatkunut monta vuotta, mutta läpimurto markkinoilla on vielä saavuttamatta. Tuotekehitys on ensisijaisesti yritysten vastuulla. Luomupuutarha-hankkeen (MMM/Makera, 2013˗2016) kenttä- ja havaintokokeissa on saatu vaihtelevia kokemuksia paperipohjaisten biohajoavien katteiden soveltuvuudesta. Haasteet paperin käytössä ovat liittyneet sekä katteen kestävyyteen levitysvaiheessa että kestoon kasvukauden edetessä. Tärkkelyspohjaiset katteet ovat olleet levityskestävyydeltään lähes muovin luokkaa. Näiden katteiden valikoimissa on paksuudeltaan ja kestävyydeltään erilaisia tuotteita käyttökohteen mukaan. Yksivuotiset käyttökohteet (vihannekset) näyttävät lupaavilta, mutta monivuotisten kasvien, esim. mansikka, viljelyyn varsinkin paperipohjaisten katteiden kehittely on haastavaa. Parhaiten biohajoavat katteet soveltuvat vihanneksille, joilla on nopea alkukasvu ja hyvä peittävyys, kuten taimina istutettavat salaatti ja keräkaali. Katteiden kestoa voi turvata myös kateharsoilla tai hyönteisverkoilla, jotka vähentävät merkittävästi tuulirepeymiä. Katteiden käyttö ei palvele pelkästään luomutuotannon rikkakasvintorjunnan tarpeita. Myös tavanomaisessa vihannnesviljelyssä rikkakasvien kemiallisen torjunnan vaihtoehdot niukentuvat koko ajan ja tarve IPM-ratkaisuille on ilmeinen. Biohajoavat katteet on hinnoiteltu varsin kilpailukykyisiksi muoviin verrattuna. Paperikatteiden tuloa markkinoille vielä odotellaan.201

Ideal Types of Online Shoppers – A Qualitative Analysis of Online Shopping Behavior

Due to the growing popularity of online shopping, there is a growing demand for understanding the motives and behaviour of online shoppers. This study aims to increase this understanding by examining online shopping behaviour from the perspective of UTAUT2 theory integrated with self-efficacy and risk avoidance components. The thematically analysed data from 31 participants highlights the unique aspects of online shoppers by grouping them into ideal types, presenting the data as extensively as possible. An ideal type is an analytical construct used to ascertain similarities and deviations to concrete cases in an individual phenomenon. This study discovered five ideal types of online shoppers: Conservative Shoppers, Rational Shoppers, Hedonistic Shoppers, Spontaneous Shoppers and Van-guard Shoppers. The main theoretical contribution of this study are the formed ideal shopper types enriched with practical implications for online shop providers on how to best meet the needs of each ideal type. The purpose of the ideal types is not to categorize online shoppers under one category but rather help to understand regularities of different types of online shopping behaviour. This under-standing is beneficial for online shop providers as well as for academics interested in studying online shopping behaviour from the information systems point of view

A IMPORTÂNCIA DA ADMINISTRAÇÃO DOS CUSTOS DE SERVIÇOS DE INFRA-ESTRUTURA NO FATURAMENTO DA EMPRESA

Em meio à forte competitividade no setor empresarial, torna-se, a cadadia, ainda mais importante a correta administração dos custos dos serviços deinfra-estrutura no faturamento das empresas. As áreas de serviços de infraestruturaestão sendo vistas como grandes aliadas no desempenho financeirodas empresas, assumindo posição chave como viabilizadoras dos processos edas atividades. O correto agrupamento, controle e trabalho para redução doscustos permitem às empresas poder visualizar os setores nos quais certosgastos são dispensáveis ou indispensáveis, dando aos administradores noçõesclaras de como agir e de quanto suas ações estão sendo proveitosas para aempresa. Este trabalho discute e aponta algumas áreas e métodos nas quaisum administrador, seja qual for o seu campo específico, poderá atuar para umtrabalho conciso na redução de custos de serviços de infra-estrutura,mostrando o quanto este projeto é importante e deve ser aplicado com apoiode todos os setores da empresa