Consumer behavior and payment choice: a conference summary
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.
|Date of creation:||2006|
|Date of revision:|
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- Eugene Amromin & Carrie Jankowski & Richard D. Porter, 2007.
"Transforming payment choices by doubling fees on the Illinois Tollway,"
Federal Reserve Bank of Chicago, issue Q II, pages 22-47.
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- Charles M. Kahn & William Roberds, 2006.
"Credit and Identity Theft,"
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- Stacey L. Schreft, 2006.
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Research Working Paper
RWP 06-04, Federal Reserve Bank of Kansas City.
- Stacey L. Schreft, 2005. "How and why do consumers choose their payment methods?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
- Fumiko Hayashi & Elizabeth C. Klee, 2002.
"Technology adoption and consumer payments : evidence from survey data,"
Payments System Research Working Paper
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- Byoung-Min Kim & Richard Widdows & Tansel Yilmazer, 2005. "The determinants of consumers’ adoption of Internet banking," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
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