This paper considers the evidence for and against the reverse Robin Hood hypothesis, finding that the reverse Robin Hood may be more mythical than the original Robin Hood.
Over the past 20 years, credit cards have become an increasingly popular means of paying for goods and services in Canada. Today nearly 90 percent of Canadian adults own a credit card and approximately 65 percent of all point of sale payments are made using credit cards.
During the past decade, academics—predominantly scholars of behavioral law and economics—have increasingly turned to the claimed insights of behavioral economics in order to craft novel policy proposals in many fields, most significantly consumer credit regulation.
The Durbin Amendment to the Dodd-Frank financial reform legislation capped debit card interchange fees for banks with assets of $10 billion. Credit card and prepaid card interchange fees were not regulated.
Armen Alchian was one of the great economists of the twentieth century, and his 1950 paper, Uncertainty, Evolution, and Economic Theory, one of the most important contributions to the economic literature.
Summary Fresh off of the most substantial national liquidity crisis of the last generation and the enactment of sweeping credit card regulation in the form of the Credit CARD Act,…