My five pounds are not as good as yours, so I will spend them
AbstractAn experimental approach is used to examine how money denomination and the choice between or availability of coins and banknotes may influence consumers’ purchasing behaviour. Evidence shows that for small amounts of money, consumers may prefer a smaller monetary value in banknotes rather than a higher value in coins. Findings also suggest that people carrying coins are more likely to make a purchase of small value than people not carrying coins. Copyright Economic Science Association 2013
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Bibliographic InfoArticle provided by Springer in its journal Experimental Economics.
Volume (Year): 16 (2013)
Issue (Month): 4 (December)
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Web page: http://www.springerlink.com/link.asp?id=102888
Field experiment; Currency denomination; Banknotes; Coins; C93;
Find related papers by JEL classification:
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
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