| Pulley, Lawrence, Allen Berger and David Humphrey. 1996. "Do Consumers Pay for One-Stop Banking? Evidence from an Alternative Revenue Function." Journal of Banking and Finance 20: 1601-21. |
....production, but from a kind of consumption economy. The result will be higher revenue and a better return from any customer segment, as consumers of financial services find it more advantageous to purchase multiple products from the same provider (Herring and Santomero, 1990, Berger, Humphrey, and Pulley, 1996). Combining both of these aspects of scale broadly defined, economists often refer to the total effect as improved profit efficiency. Berger, Hancock and Humphrey 1993. The latter term refers to the ability of profits to improve from any of the sources noted above, viz. cost, scope or ....
Pulley, Lawrence, Allen Berger and David Humphrey. 1996. "Do Consumers Pay for One-Stop Banking? Evidence from an Alternative Revenue Function." Journal of Banking and Finance 20: 1601-21.
....as fixed. That is, we replace the output prices in the standard profit function with output quantities, yielding an identical specification to the cost function except for the dependent variable. Thus, this alternative form which is similar to the nonstandard revenue function employed by Pulley, Berger, and Humphrey (1993) removes the one difference in specification between the cost equation (3) and the profit equation (4) to be sure that our results are not related to specification. As well, it serves as a robustness check on our main results. The nonstandard profit efficiency estimates, shown in the ....
Pulley, Lawrence B., Allen N. Berger, and David B. Humphrey, 1993, "Do Consumers Pay for One-Stop Banking? Evidence from a Non-Standard Revenue Function, " FEDS Working Paper #93-30, Board of Governors of the Federal Reserve System (August).
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