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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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  • Lineta Ramoniene

    (ISM University of Management and Economics)

  • Dovydas Brazys

    (ISM University of Management and Economics)

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.

Suggested Citation

  • Lineta Ramoniene & Dovydas Brazys, 2007. "Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 6(2), pages 29-55, January.
    • Handle: RePEc:bic:journl:v:6:y:2007:i:2:p:29-55
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    File URL: https://www.tandfonline.com/doi/epdf/10.1080/1406099X.2007.10840435
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    References listed on IDEAS

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    6. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
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