Basedon that experiment, economist Robert Shapiro of Sonecon estimates that about 56% of the value of reduced swipe fees will reach the final consumer.
It turns out, she writes, that the whole diagnosis is basedon one experiment from the 1960s in which doctors strapped 50 monkeys onto a track and slammed them into a wall at high speed.
The commission's own numbers, partly basedon an unhappy Swedish experiment with an FTT from 1984-91, suggest that derivatives traders could relocate as much as 90% of their business outside any tax zone.