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Consumer Preferences for a Digital Euro: Insights from a Discrete Choice Experiment in Austria (Helmut Elsinger, Helmut Stix, Martin Summer)

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Abstract

This paper examines consumers intended adoption of a digital euro in Austria using a discrete choice experiment. We estimate a mixed logit model to quantify the role of key attributes such as privacy, offline functionality, security against financial loss, monetary incentives and payment form factors. Our findings indicate that security and financial incentives are the strongest drivers of adoption, while privacy plays a secondary role. We identify significant heterogeneity in adoption likelihood across socio-demographic groups. Simulations suggest that under realistic design assumptions, approximately 45% of individuals are found to have an intention to adopt a digital euro.

Suggested Citation

  • Helmut Elsinger & Helmut Stix & Martin Summer, 2025. "Consumer Preferences for a Digital Euro: Insights from a Discrete Choice Experiment in Austria (Helmut Elsinger, Helmut Stix, Martin Summer)," Working Papers 268, Oesterreichische Nationalbank (Austrian Central Bank).
    • Handle: RePEc:onb:oenbwp:268
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    More about this item

    Keywords

    Central Bank Digital Currency (CBDC); Consumer Adoption; Discrete Choice Experiment; Payment Preferences;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions

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