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They shouldn’t have to set “socially optimal” fees. The market should force them to that point, absent any weird protections.
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They shouldn’t have to set “socially optimal” fees. The market should force them to that point, absent any weird protections.
hm... not sure of the history.
Heavily oligopolistic, at least with regulatory protection and/or cultural lock-in.
Google gives me this Fed paper history. Will take a peek. https://www.kansascityfed.org/documents/7409/PSCP2005_Evans-Schmalensee.pdf
... there's also quite some gov regulation/legal cases that govern this shit