7 Credit-spreads-based HJM Type Model 21 7.1 Single Credit Rating Case . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 7.2 Alternative Specifications of Recovery Payment . . . . . . . . . . . . . . . . . . . . . 29 7.3 Multiple Credit Ratings Case . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 7.4 Market Prices of Interest Rate and Credit Risk . . . . . . ...

In reality, a seller (e.g., a supplier or a manufacturer) frequently offers his/her buyers trade credit (e.g., permissible delay in payment). Trade credit reduces the buyer's holding cost of inventory and hence attracts new buyers who consider it to be a type of price reduction. On the other hand, granting trade credit also increases the seller's opportunity cost (i.e., the loss of capital oppo...

In today's world of E-Commerce everything comes online like Music,E-Books, Shopping all most everything is online. If you are using some service or buying things online then you have to pay for that. For that you have to do Net Banking or you have to use Credit card which will do online payment for you. In today's environment when everything is online, the service you are using for E-Payment mu...

Micro-payment systems are becoming an important part of peer-to-peer (P2P) networks. The main reason for this is to address the “free-rider” problem in most existing content sharing systems. We have developed a new micro-payment system for content sharing in P2P networks called P2P-Netpay. This is an offline, debit based protocol that provides a secure, flexible, usable and reliable credit serv...

This paper investigates the economic order quantity inventory model for a retailer under two levels of trade credit to reflect the supply chain management situation. It is assumed that the retailer maintains a powerful position and can obtain full trade credit offered by supplier, yet the retailer just offers the partial trade credit to customers. Under these conditions, the retailer can obtain...

By using a unique data set that contains detailed information on consumer perceived attributes of payment methods and consumer perceived acceptance of payment methods by merchants, we estimate the direct effects of rewards card programs on consumer payment choice for in-store transactions. Our estimation approach, which follows Harris and Keane [1999], allows us to alleviate the endogeneity pro...

As there is a vast advancement in the E-commerce technology, the use of credit cards has grown up. The credit card has become the crucial mode of payment so with the rise in the credit card transactions, the credit card frauds have also become frequent nowadays. [1] Thus, an improved fraud detection system has become essential to maintain the reliability of the payment system. The criterion is ...

classes Following object-oriented principles, a class that cannot be instantiated is said to be abstract. Abstract classes are often used for grouping together the common elements of a set of specialized classes. Example: Payment Cash Payment Credit Card Payment Check Payment amount: int The name in italics indicates an abstract class.

In most inventory models it is assumed that the parameters of the model do not vary with time, and that the payment of orders from the retailer to the supplier is made immediately up on the receipt of these orders. Some suppliers, however, allow a certain fixed period to settle payment accounts. During this fixed period no interest is charged by the supplier, but beyond that period an interest,...

We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions making the choice of payment method interesting also imply equilibrium price dispersion, and together these deliver closed-form solutions for money demand. The model can ...