摘要: The bank credit card market, containing 4,000 firms and lacking regulatory barriers, casually appears to be a hospitable environment for the model of perfect competition. Nevertheless, this article reports that interest rates have been exceptionally sticky relative cost funds. Moreover, major issuers persistently earned from three five times ordinary rate return in banking during periods 1983-88. failure competitive partly attributable consumers making choices without taking account very high probability they will pay on their outstanding balances. Copyright 1991 by American Economic Association.
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