Jul 10
Commenting that " sometimes the answer to a failure of competition is to require more competition ", Ian Ayres and Barry Nalebuff have published an op-ed in Forbes titled " A Market Test for Credit Cards " that advocates requiring card issuers putting up account relationships for bid if they choose to change the terms (like interest rate) on the account. Consumers would have an option to move to a new issuer who bid for the relationship - or to stay put with the revised terms.
