Economics of Payment Methods and Payment Systems 

1. Greene, C. and O. Shy. "Unbanked Consumers and How They Pay." Journal of Economics and Finance, 48(1), March 2024, 186-195. Data and R-code. 

2. Shy, O. and J. Stavins. "Who Is Paying All These Fees? An Empirical Analysis of Bank Account and Credit Card Fees."  Journal of Economics and Business, 129, March-April 2024, Article 106157. 

3. Shy, O. "Should Credit Card Rewards Be Taxed?" Journal of Public Economic Theory, 26(1), February 2024, Article e12660. R-code for simulations and charts. 

4. Shy, O. "Cash is Alive: How Economists Explain Holding and Use of Cash." Journal of Economic Literature, 61(4), December 2023, 1465-1520. Data and R-code: GitHub, AEA repository. 

5. Prescott, B. and O. Shy. "Cash Payments and the Penny Policy Debate." Journal of Economic Behavior and Organization, 208, April 2023, 80-94. Data source.  Data and R-code. 

6. Shy, O. "Interchange Fees with Cashless Stores, Cashless Consumers, and Cash-Only Consumers." Economics Letters, 212, March 2022, Article 110284. Online Appendix. 

7. Greene, C., B. Prescott, and O. Shy. "How People Pay Each Other: Data, Theory, and Calibrations." Journal of Behavioral and Experimental Economics, 96, February 2022, Article 101788. Data source.  Data and R-code. 

8. Shy, O. "Cashless Stores and Cash Users." Journal of Policy Modeling, 43(3), May-June 2021, 622-638. Presentation. Data source. Data and R-code. 

9. Shy, O. "Consumer Use of Multiple Payment Methods." Review of Industrial Organization, 58(3), May 2021, 339-355. Data source. Data and R-code. 

10. Shy, O. "Low-Income Consumers and Payment Choice." Research in Economics, 74(3), December 2020, 292-300. Data source. Data and R-code. 

11. Shy, O. "How Currency Denomination and the ATM Affect the Way We Pay." Journal of Economics and Business, 111, September-October 2020, Article 105908. Data source. Data and R-code.

12. Chen, H., K. Huynh, and O. Shy. "Cash Versus Card: Payment Discontinuities and the Burden of Holding Coins." Journal of Banking and Finance, 99, February 2019, 192-201. Presentation.

13. Greene, C., M. Rysman, S. Schuh, and O. Shy. "Costs and Benefits of Building Faster Payment Systems: The U.K. Experience." Capco Institute Journal of Financial Transformation, 47, April 2018.

14. Stavins, J. and O. Shy. "Merchant Steering of Consumer Payment Choice: Evidence from a 2012 Diary Survey." Journal of Behavioral and Experimental Economics, 55, April 2015, 1-9.

15. Greene, C. and O. Shy. "E-cash and Virtual Currency as Alternative Payment Methods." Journal of Payments Strategy and Systems, 8(3), Autumn/Fall 2014, 274-288.

16. Shy, O. "Measuring Some Effects of the 2011 Debit Card Interchange Fee Reform." Contemporary Economic Policy, 32(4), October 2014, 769-783. 

17. Briglevics, T. and O. Shy. "Why Don't Most Merchants Use Price Discounts to Steer Consumer Payment Choice?" Review of Industrial Organization, 44(4), June 2014, 367-392. 

18. Shy, O. and J. Stavins. "Merchant Steering of Consumer Payment Choice: Lessons Learned From Consumer Surveys." Survey Methods: Insights from the Field, April 2014.

19. Shy, O. "Account-to-Account Electronic Money Transfers: Recent Developments in the United States." Review of Network Economics, 11(1), March 2012, Article 3. 

20. Schuh, S., O. Shy, J. Stavins, and R. Triest. "An Economic Analysis of the 2011 Settlement Between the Department of Justice and Credit Card Networks." Journal of Competition Law and Economics, 8(1), March 2012, 107-144. 

21. Shy, O. and Z. Wang. "Why Do Card Networks Charge Proportional Fees?" American Economic Review, 101(4), June 2011, 1575-1590.

22. Shy, O. and J. Tarkka. "The Market for Electronic Cash Cards," Journal of Money, Credit, and Banking, 34(2), May 2002, 299-314.

Industrial Organization, Market Structure, and Firm Strategy

1. Shy, O. "Hotelling's Model with Firms Located Close to Each Other." Review of Industrial Organization, 65, November 2024, 649-668. R-code for Figures 4, 5 & 6. 

2. Shy, O. and R. Stenbacka. "Noncompete Agreements, Training, and Wage Competition." Journal of Economics and Management Strategy, 32(2). Summer 2023, 328-347. 

3. Shy, O. and R. Stenbacka. "Common Ownership, Institutional Investors, and Welfare." Journal of Economics and Management Strategy, 29(3), Fall 2020, 706-723. Presentation. R-code. 

4. Shy, O. and R. Stenbacka. "Active Investors, Passive Investors, and Common Ownership." American Economic Association Papers and Proceedings, 110, May 2020, 565-568.

5. Shy, O. and R. Stenbacka. "An OLG Model of Common Ownership: Effects on Consumption and Investments." Journal of Macroeconomics, 62, December 2019.

6. Gayer, A. and O. Shy. "A Welfare Evaluation of Tying Strategies." Research in Economics, 70(4), December 2016, 623-637.

7. Shy, O., R. Stenbacka, and D. Zhang. "History-based versus Uniform Pricing in Growing and Declining Markets," International Journal of Industrial Organization, 48, September 2016, 88-117.

8. Shy, O. and R. Stenbacka. "Customer Privacy and Competition." Journal of Economics and Management Strategy, 25(3), Fall 2016, 539-562.

9. Shy, O. and R. Stenbacka. "Investment in Customer Recognition and Information Exchange." Information Economics and Policy, 25(2), June 2013, 92-106.  

10. Gehrig, T., O. Shy, and R. Stenbacka. A Welfare Evaluation of History-Based Price Discrimination.  Journal of Industry, Competition and Trade, 12(4), 2012, 373-393. 

11. Shy, O. "Real Estate Brokers and Commission: Theory and Calibrations." Journal of Real Estate Finance and Economics,45(4), November 2012, 982-1004. Data. 

12. Shy, O. and R. Stenbacka. "Efficient Organization of Production: Nested versus Horizontal Outsourcing." Economics Letters, 116(3), September 2012, 593-596. 

13. Gehrig, T., O. Shy, and R. Stenbacka. "History-based Price Discrimination and Entry in Markets with Switching Costs: A Welfare Analysis." European Economic Review, 55(5), June 2011, 732-739.

14. Forshner, Z. and O. Shy. "Constant Best-Response Functions: Interpreting Cournot." International Journal of Business and Economics, 8(1), 2009, 1-6.

15. Melnik, A., O. Shy, and R. Stenbacka. "Assessing Market Dominance." Journal of Economic Behavior and Organization, 68(1), October 2008, 63-72.

16. Shy, O. and R. Stenbacka. "Price Competition, Business Hours, and Shopping Time Flexibility." Economic Journal, 118(531), August 2008, 1171-1195.

17. Shy, O. and R. Stenbacka. "Service Hours with Asymmetric Distributions of Ideal Service Time." International Journal of Industrial Organization, 24(4), July 2006, 736-771.

18. Shy, O. and R. Stenbacka. "Partial Outsourcing, Monitoring Cost, and Market Structure." Canadian Journal of Economics, 38(4), November 2005, 1173-1190.

19. Shy, O. and R. Stenbacka. "Strategic Outsourcing." Journal of Economic Behavior and Organization, 50(2), February 2003, 203-224.

20. Fishman, A., N. Gandal, N., and O. Shy. "Planned Obsolescence as an Engine of Technological Progress, Journal of Industrial Economics, 41(4), December 1993, 361-370.

The Banking Sector and Financial Markets

1. Shy, O. "Faster Bank Runs." European Economic Review, 172, February 2025, Article 104915. R-code for Figure 6.

2. Shy, O. "Why Do Banks Require Minimum Balance to Avoid a Fee?" Annals of Finance. 20, December 2024, 395-420. R-code for Figure 6. 

3. Shy, O. and R. Stenbacka. "Lobbying and Liquidity Requirements: Large Versus Small Banks." Journal of Financial Stability, 74, October 2024, Article 101316. R-code for Figure 2.

4. Shy, O. and R. Stenbacka. "Bank Competition, Real Investments, and Welfare." Journal of Economics, 127(1), June 2019, 73-90.

5. Shy, O. and R. Stenbacka. "An Overlapping Generations Model of Taxpayer Bailouts of Banks." Journal of Financial Stability, 33, December 2017, 71-80.

6. Shy, O., R. Stenbacka, and V. Yankov. "Limited Deposit Insurance Coverage and Bank Competition." Journal of Banking and Finance. 71, October 2016, 95-108.

7. Melnik, A. and O. Shy. "Exclusion, Competition, and Regulation in the Retail Loan Market." Journal of Banking and Finance, 52, March 2015, 189-198.

8. Shy, O. and R. Stenbacka. "Rethinking the Roles of Banks: A Call for Narrow Banking." The Economists' Voice, 5(2), June 2008, Article 6. 

9. Shy, O. and R. Stenbacka. "Liquidity Provision and Optimal Bank Regulation." International Journal of Economic Theory, 3(3), September 2007, 219-233.

10. Shy, O. and R. Stenbacka. "Market Structure and Risk Taking in the Banking Industry," Journal of Economics, 82(3), July 2004, 249-280.

11. Shy, O. and R. Stenbacka. "Market Structure and Diversification of Mutual Funds," Journal of Financial Markets, 6(4), August 2003, 607-624.

Labor Economics and Economics of Education

1. Shy, O. "College Education, Earning Inequality, and Market Power." Journal of Labor Research, 42(3-4), December 2021, 334-357. Data and R-code. 

2. Shy, O. and R. Stenbacka. "Anti-Poaching Agreements in Labor Markets." Economic Inquiry, 57(1), January 2019, 243-263.

3. Shy, O. and R. Stenbacka. "Dynamic Labor Market Competition and Wage Seniority." International Journal of Industrial Organization, 61, November 2018, 130-154. 

4. Shy, O. "Do Tips Increase Workers' Income? "Management Science, 61(9), September 2015, 2041-2051. 

Game Theory

1. Roberson, B. and O. Shy. "Costly Force Relocation in the Colonel Blotto Game." Economic Theory Bulletin, 9, April 2021, 39-52.

2. Shy, O. "Multimarket Lobbying with Reserves." Mathematical Social Sciences, 109, January 2021, 106-112. 

3. Shy, O. "Consistent Bargaining." Economics Bulletin, 30(2), May 2010, 1425-1432. See a more-recent expanded version titled "Alternating Offers: Bargaining Over the Right to Be the First to Make an Offer." 

Network Economics, Standards, Switching Costs, Hardware/Software Industries, Intellectual Property

1. Shy, O. "A Short Survey of Network Economics." Review of Industrial Organization, 38(2), March 2011, 119-149.

2. Gayer, A. and O. Shy. "Publishers, Artists, and Copyright Enforcement." Information Economics and Policy, 18(4), November 2006, 374-384.

3. Gayer, A. and O. Shy. "Copyright Protection and Hardware Taxation," Information Economics and Policy, 15(4),  December 2003, 467-483.

4. Gayer, A. and O. Shy. "Internet and Peer-to-Peer Distributions in Markets for Digital Products," Economics Letters, 81(2), November 2003, 51-57.

5. Issman-Weit, E. and O. Shy. "Pricing of Library Subscriptions with Applications to Scientific Journals," Journal of Economics and Business, 55(2), March-April 2003, 197-218.

6. Shy, O. "A Quick-and-Easy Method for Estimating Switching Costs," International Journal of Industrial Organization, 20(1), January 2002, 71-87.

7. Grilo, I., O. Shy, and  J. Thisse. "Price Competition When Consumer Behavior is Characterized by Conformity or Vanity, Journal of Public Economics, 80(3), June 2001, 385-408.

8. Gandal, N. and O. Shy, "Standardization Policy and International Trade," Journal of International Economics, 53(2), 2001, 363-383.

9. Shy, O. and J. Thisse, "A Strategic Approach to Software Protection," Journal of Economics and Management Strategy, 8(2), Summer 1999, 163-190. 

10. Shy, O. "Technology Revolutions in the Presence of Network Externalities," International Journal of Industrial Organization, 14(6), October 1996, 785-800.

11. Chou, C., and O. Shy. "Do Consumers Always Gain When More People Buy the Same Brand?" European Journal of Political Economy, 12(2), September 1996, 309-330.

12. Chou, C., and O. Shy. "Partial Compatibility and Supporting Services," Economics Letters, 41(2), January 1993, 193-197.

13. Chou, C., and O. Shy. "The Crowding-Out Effects of Long Duration of Patents," The RAND Journal of Economics, 24(2), Summer 1993, 304-312.

14. Chou, C., and O. Shy. "Technology Revolutions and the Gestation of New Technologies," International Economic Review, 34(3), August 1993, 631-645.

15. Chou, C., and O. Shy. "New Product Development and the Optimal Duration of Patents," Southern Economic Journal, 57(3), January 1991, 811-821. 

16. Chou, C., and O. Shy. "Network Effects Without Network Externalities," International Journal of Industrial Organization, 8(2), June 1990, 259-270.

Cognitive Economics, Social Influence, and Religion

1. Shy, O. "Measuring the Cost of Making Payment Decisions." Journal of Socio-Economics, 37(6), December 2008, 2411-2416.

2. Shy, O. "Dynamic Models of Religious Conformity and Conversion: Theory and Calibrations." European Economic Review, 51(5), July 2007, 1127-1153.

Transportation and Airlines Economics

1. Ringbom, S., and O. Shy. "Refunds and Collusion in Service Industries." Journal of Economics and Business, 60(6), Nov.-Dec. 2008, 502-516.

2. Ringbom, S. and O. Shy. "Advance Booking, Cancellations, and Partial Refunds," Economics Bulletin, 13(1), 1-7, 2004.

3. Hassin, O. and O. Shy. "Code-Sharing Agreements, and Interconnections in Markets for International Flights." Review of International Economics, 12(3), August 2004, 337-352.

4. Ringbom, S. and O. Shy. "The "Adjustable-Curtain" Strategy: Overbooking of Multiclass Service," Journal of Economics, 77(1), 2002, 73-90. 

5. Berechman, J., S. Poddar, and O. Shy. "Network Structure and Entry in the Deregulated Airline Industry," Keio Economic Studies, 35(2), January 1998, 71-82.

International Trade, Development, and Growth

1. Shy, O. "Exporting as a Signal For Product Quality," Economica, 67(1), February 2000, 79-90.

2. Horn, H., and O. Shy. "Bundling and International Market Segmentation," International Economic Review, 37(1), February 1996, 51-69.

3. Lee, F., and O. Shy. "A Welfare Evaluation of Technology Transfer to Joint Ventures in the Developing Countries," The International Trade Journal, 7(2), Winter 1992, 205-220. 

4. Chou, C., and O. Shy. "A Model Technology Gap, Product Cycle, and the Process of Catching up Between the North and the South," Economics Record, 67(198), September 1991, 217-226.

5. Chou, C., and O. Shy. "An Overlapping Generations Model of Self-Propelled Growth," Journal of Macroeconomics, 13(3), Summer 1991, 511-521.

6. Chou, C., and O. Shy. "Intra-Industry Trade and the Variety of Home Products, "The Canadian Journal of Economics, 24(2), May 1991, 405-416.

7. Shy, O. "External Effects and Pareto Inferior Trade," Southern Economic Journal, 56(1), July 1989, 56-63.

8. Shy, O. "A General Equilibrium Model of Pareto Inferior Trade," Journal of International Economics, 25(1/2), August 1988, 143-154.