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Consumer behavior and payment choice: a conference summary

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  • Marianne Crowe
  • Scott Schuh
  • Joanna Stavins
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    Abstract

    The Emerging Payments Research Group (EPRG) at the Federal Reserve Bank of Boston sponsored a new conference, “Consumer Behavior and Payment Choice: How and Why Do Consumers Choose Their Payment Methods?” on October 27–28, 2005, at the Boston Fed. The conference brought together a diverse set of participants from the academic, private, and public sectors. This paper provides a summary and overview of the conference. Key conclusions are that the consumer’s decision-making process concerning payment choice is quite complex, that standard economic models have difficulty incorporating this complexity, that additional research—especially interdisciplinary research—into consumer choice of payment method is needed, and that this conference was an important step in that direction.

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    File URL: http://www.bostonfed.org/economic/ppdp/2006/ppdp061.htm
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    Bibliographic Info

    Paper provided by Federal Reserve Bank of Boston in its series Public Policy Discussion Paper with number 06-1.

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    Date of creation: 2006
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    Handle: RePEc:fip:fedbpp:06-1

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    Related research

    Keywords: Payment systems ; Electronic funds transfers;

    This paper has been announced in the following NEP Reports:

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    1. Stacey L. Schreft, 2006. "How and why do consumers choose their payment methods?," Research Working Paper RWP 06-04, Federal Reserve Bank of Kansas City.
    2. Charles M. Kahn & William Roberds, 2006. "Credit and Identity Theft," 2006 Meeting Papers 34, Society for Economic Dynamics.
    3. Hayashi Fumiko & Klee Elizabeth, 2003. "Technology Adoption and Consumer Payments: Evidence from Survey Data," Review of Network Economics, De Gruyter, vol. 2(2), pages 1-16, June.
    4. Byoung-Min Kim & Richard Widdows & Tansel Yilmazer, 2005. "The determinants of consumers’ adoption of Internet banking," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    5. Gene Amromin & Carrie Jankowski & Richard D. Porter, 2005. "Transforming payment choices by doubling fees on the Illinois Tollway," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
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    Cited by:
    1. Margaret Carten & Dan Littman & Scott Schuh & Joanna Stavins, 2007. "Consumer behavior and payment choice : 2006 conference summary," Public Policy Discussion Paper 07-4, Federal Reserve Bank of Boston.
    2. Hromcová, Jana & Callado-Muñoz, Francisco J. & Utrero-González, Natalia, 2014. "Effects of direct pricing of retail payment methods in Norway," Economic Modelling, Elsevier, vol. 37(C), pages 428-438.

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