NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Joanna Stavins

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Working Papers

May 2002Network Externalities and Technology Adoption: Lessons from Electronic Payments
with Gautam Gowrisankaran: w8943
We seek to analyze the extent and sources of network externalities for the automated clearinghouse (ACH) electronic payments system using a quarterly panel data set on individual bank adoption and usage of ACH. We provide three methods to identify network externalities using this panel data. The first method identifies network externalities from the clustering of ACH adoption. The second method identifies them by examining whether banks in areas with higher market concentration or larger competitors are more likely to adopt ACH. The third method identifies them by examining whether the ACH adoption by small branches of large banks affects the adoption by local competitors. Using fixed effects and panel data these methods separately identify network externalities from technological advancem...

Published: Gowrisankaran, Gautam and Joanna Stavins. “Network Externalities and Technology Adoption: Lessons from Electronic Payments.” RAND Journal of Economics 35 (2004): 260–276.

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