| Figure 1. | First Mover Share Given the Discount Rate of Each Party. |
| Figure 1. | Binned Scatter Plots of Firm Characteristics in Simulations where Standard Critical Loss Makes Correct or Incorrect Predictions (Own Price Elasticities from 1.3 to 2.5). |
| Figure 2. | Binned Scatter Plots of Firm Characteristics in Simulations where Standard Critical Loss Makes Correct or Incorrect Predictions (Own Price Elasticities from 3 to 5). |
| Figure 1. | Flow of Payments within a Three- and Four-Party Card Network. |
| Figure 1. | First Mover Share Given the Discount Rate of Each Party. |
| Figure 1. | Binned Scatter Plots of Firm Characteristics in Simulations where Standard Critical Loss Makes Correct or Incorrect Predictions (Own Price Elasticities from 1.3 to 2.5). |
| Figure 2. | Binned Scatter Plots of Firm Characteristics in Simulations where Standard Critical Loss Makes Correct or Incorrect Predictions (Own Price Elasticities from 3 to 5). |
| Figure 1. | Flow of Payments within a Three- and Four-Party Card Network. |
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