Pricing with Consumer Switching Costs: Evidence from the Credit Card Market
利用信用卡发行机构的详细面板数据，研究发现转换成本显著影响商业银行的定价，尤其对客户风险较高的银行影响更大，但对信用合作社几乎没有影响。
The credit card market is a natural setting for investigating the relationship between pricing and consumer switching costs. I find, using a detailed panel of credit card issuers, that switching costs are an important influence on pricing for commercial banks. The results are stronger for commercial banks with risky customer bases, suggesting that there is a relationship between default and switching costs. Switching costs appear to have almost no influence on pricing for credit unions, a result that is consistent with their status as not–for–profit entities.