Thursday, October 25

Session 1 – 9:15 – 10:45 – Economics of Two Sided Markets

First paper: “Competition, Bargaining Power and Pricing in Two-Sided Markets”
Wilko Bolt (DNB) and Kimmo Soramäki* (Helsinki University of Technology)
Discussant: Marianne Verdier (Telecom Paris)

Second paper: “A SSNIP Test for Two Sided Markets”
Lapo Filistrucchi (University of Tilburg)
Discussant: Bruno Karoubi (Telecom Paris)

Session 2 – 11:00 – 12:30 – Economics of Payment Card Systems

First paper: “Consumer Homing on Payment Cards: From Theory to Measurement”
Chris Snyder (Dartmouth College) and Jonathan Zinman* (Dartmouth College)
Discussant: Joanna Stavins (FRB of Boston)

Second paper: “Interchange Fees and Incentives to Invest in the Quality of a Payment Card System”
Marianne Verdier (Telecom Paris)
Discussant: Tobias Wenzel (University of Dortmund)

Session 3 – 14:00 – 15:30 – Panel Session – Interchange Fees in Payment Card Systems

Keynote Speaker:
Jean-Charles Rochet
IDEI, University Toulouse I
“Understanding Interchange Fees”

Panel:
- Martine Briat, Legal and Banking Affairs, Groupement des Cartes Bancaires.
- Elizabeth K. Kiser, Board of Governors of the Federal Reserve System.
- Lukas Repa, Case Officer, Financial Services, Directorate General Competition, European
Commission.

Session 4 – 15:45 – 17:15 – Economics of ATM Networks

First paper: “Coordinated Investment in a Shared ATM Network”
Stijn Ferrari* (Catholic Univ. of Leuven), Frank Verboven (Catholic Univ. of Leuven) and Hans
Degryse (Tilburg Univ.)
Discussant: Lapo Filistrucchi (University of Tilburg) and Malte Krueger (University of Karlsruhe)

Second paper: “On the Incentives to Form Strategic Coalitions in ATM Markets”
Tobias Wenzel (University of Dortmund)
Discussant: Matthieu Manant (Conservatoire National des Arts et Métiers)

Friday, October 26

Session 1 – 9:15 – 10:45 – Economics of Payment Instruments I

First paper: “To Check or Not to Check: Why Are (Some) Consumers (Finally) Writing Fewer Checks?”
Scott Schuh (FRB of Boston) and Joanna Stavins* (FRB of Boston)
Discussant: Jonathan Zinman (Dartmouth College)

Second paper: “Efficiency and Costs of Payments: Some New Evidence”
Matti Viren* (University of Turku) and Kari Takala (Bank of Finland)
Discussant: Heiko Schmiedel (European Central Bank)
Coffee break

Session 2 – 11:00 – 12:30 – Panel Session – Perspectives on the Single European Payment Area

Keynote Speaker:
Jean-Michel Godeffroy
Director General, Payment Systems and Market Infrastructure, European Central Bank
“A New Payment Card System for Europe”

Panel:
- Morten Linnemann Bech, Federal Reserve Bank of New York.
- Yves Randoux, CEO, Groupement des Cartes Bancaires.
- Leo Van Hove, Free University of Brussels.

Session 3 – 14:00 – 15:30 – Economics of Payment Cards

First paper: “Payment Card Rewards Programs and Consumer Payment Choice”
Andrew Ching* (University of Toronto) and Fumiko Hayashi (FRB of Kansas City)
Discussant: Kim P. Huynh (Indiana University)

Second paper: “Debit Card Float and Consumption Patterns”
David Bounie (Telecom Paris), Abel François (Univ. of Strasbourg) and Elizabeth K. Kiser * (Federal Reserve Board)
Discussant: Matti Viren (University of Turku)

Session 4 – 15:45 – 17:15 – Economics of Payment Instruments II

First paper: “Financial Innovation and the Persistence of the Extensive Margin”
Kim P. Huynh (Indiana University)
Discussant: Andrew Ching (University of Toronto)

Second paper: “Transaction Privacy, Crime and Cash in the Purse: an Analysis with Household Data”
Matteo Ricciarelli (University of Rome)
Discussant: Leo Van Hove (Free University of Brussels)

(*) indicates speaker