Professor Richard Schmalensee (MIT Sloan) shares his reaction to the court's decision in an exclusive CPI interview. He discusses three fundamental problems with the court's economic analysis, the consequences for merchants and consumers, and shares his advice for MasterCard, and, by extension, Visa. Click here to download the interview (mp3).
Richard Schmalensee is the Howard W. Johnson Professor of Economics and Management at MIT, Dean Emeritus of the MIT Sloan School of Management, and Director of the MIT Center for Energy and Environmental Policy Research. He is the co-author of Paying with Plastic, has published several articles on interchange fees and payment systems, and is CPI's Editorial Board Chairman.