Journal articles

Economics of Payment Methods and Payment Systems

  1. 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.

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

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

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

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

  6. 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.

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

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

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

  10. 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.

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

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

  13. 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 & Economics, 8(1), March 2012, 107-144.

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

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

Industrial Organization, Market Structure, and Firm Strategy

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

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

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

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

  5. 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.

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

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

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

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

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

  11. 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.

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

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

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

  15. 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.

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

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

  18. 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 Industry and Financial Markets

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

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

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

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

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

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

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

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

Labor Economics

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

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

  3. 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.

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 & Policy, 18(4), November 2006, 374-384.

  3. Gayer, A. and O. Shy. "Copyright Protection and Hardware Taxation," Information Economics & 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 & 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 & 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 & 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.