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Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers

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Author Info

  • Lineta Ramoniene

    ()
    (ISM University of Management and Economics)

  • Dovydas Brazys

    (ISM University of Management and Economics)

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    Abstract

    This paper uses the theory called Difference Assessment Account to hypothesizeon Euro introduction effects on Lithuanian and Latvian consumers’ behavior. Difference Assessment Account itself describes how consumers perceive value of transactions whennominal value of currency is varied, and how this perception affects their economicdecisions. The paper explains Difference Assessment Account and tests this theory withan experiment, which’s participants are Lithuanian and Latvian consumers. The results of the experiment serve as a basis for the discussion of the assumptions on Euro introductioneffects on Lithuanian and Latvian consumers.

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    File URL: http://biceps.org/assets/docs/bje/BJE_Winter_Spring_2007.pdf
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    Bibliographic Info

    Article provided by Baltic International Centre for Economic Policy Studies in its journal Baltic Journal of Economics.

    Volume (Year): 6 (2007)
    Issue (Month): 2 (January)
    Pages: 29-55

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    Handle: RePEc:bic:journl:v:6:y:2007:i:2:p:29-55

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    1. David Finnoff & John Tschirhart, 2003. "Protecting an Endangered Species While Harvesting Its Prey in a General Equilibrium Ecosystem Model," Land Economics, University of Wisconsin Press, vol. 79(2), pages 160-180.
    2. Jeljer Hoekstra & Jeroen C.J.M. van den Bergh, 2001. "Harvesting and Conversation in a Predator-Prey System," Tinbergen Institute Discussion Papers 01-024/3, Tinbergen Institute.
    3. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-61, July-Aug..
    4. Alexander, Robert R., 2000. "Modelling species extinction: the case for non-consumptive values," Ecological Economics, Elsevier, vol. 35(2), pages 259-269, November.
    5. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
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    Cited by:
    1. Vivian Dzokoto & Edwin Mensah & Maxwell Twum-Asante & Annabella Opare-Henaku, 2010. "Deceiving Our Minds: A Qualitative Exploration of the Money Illusion in Post-redenomination Ghana," Journal of Consumer Policy, Springer, vol. 33(4), pages 339-353, December.

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