RDP 2009-02: Competition Between Payment Systems Equation (11)

Π i = C D i c ( f i c g i ) + C M ( D i , ~ j c + D i , j ; i c ) D i m ( f i m c i ) + C M D i , j ; j c D i , ~ j m ( f i m c i ) = C D i c ( f i c g i ) + C M [ D i c D i m D i , j ; j c D i , j m ] ( f i m c i ) . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacqqHGo audaWgaaWcbaGaamyAaaqabaGccqGH9aqpcaWGdbGaamiramaaDaaa leaacaWGPbaabaGaam4yaaaakmaabmaabaGaamOzamaaDaaaleaaca WGPbaabaGaam4yaaaakiabgkHiTiaadEgadaWgaaWcbaGaamyAaaqa baaakiaawIcacaGLPaaacqGHRaWkcaWGdbGaamytamaabmaabaGaam iramaaDaaaleaacaWGPbGaaiilaiaac6hacaWGQbaabaGaam4yaaaa kiabgUcaRiaadseadaqhaaWcbaGaamyAaiaacYcacaWGQbGaai4oaG qaciaa=LgaaeaacaWGJbaaaaGccaGLOaGaayzkaaGaamiramaaDaaa leaacaWGPbaabaGaamyBaaaakmaabmaabaGaamOzamaaDaaaleaaca WGPbaabaGaamyBaaaakiabgkHiTiaadogadaWgaaWcbaGaamyAaaqa baaakiaawIcacaGLPaaaaeaacqGHRaWkcaWGdbGaamytaiaadseada qhaaWcbaGaamyAaiaacYcacaWGQbGaai4oaiaadQgaaeaacaWGJbaa aOGaamiramaaDaaaleaacaWGPbGaaiilaiaac6hacaWGQbaabaGaam yBaaaakmaabmaabaGaamOzamaaDaaaleaacaWGPbaabaGaamyBaaaa kiabgkHiTiaadogadaWgaaWcbaGaamyAaaqabaaakiaawIcacaGLPa aaaeaacqGH9aqpcaWGdbGaamiramaaDaaaleaacaWGPbaabaGaam4y aaaakmaabmaabaGaamOzamaaDaaaleaacaWGPbaabaGaam4yaaaaki abgkHiTiaadEgadaWgaaWcbaGaamyAaaqabaaakiaawIcacaGLPaaa cqGHRaWkcaWGdbGaamytamaadmaabaGaamiramaaDaaaleaacaWGPb aabaGaam4yaaaakiaadseadaqhaaWcbaGaamyAaaqaaiaad2gaaaGc cqGHsislcaWGebWaa0baaSqaaiaadMgacaGGSaGaamOAaiaacUdaca WGQbaabaGaam4yaaaakiaadseadaqhaaWcbaGaamyAaiaacYcacaWG QbaabaGaamyBaaaaaOGaay5waiaaw2faamaabmaabaGaamOzamaaDa aaleaacaWGPbaabaGaamyBaaaakiabgkHiTiaadogadaWgaaWcbaGa amyAaaqabaaakiaawIcacaGLPaaacaGGUaaaaaa@9F5C@