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Consumer behavior and payment choice: a conference summary

Author

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  • Marianne Crowe
  • Scott Schuh
  • Joanna Stavins

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.

Suggested Citation

  • Marianne Crowe & Scott Schuh & Joanna Stavins, 2006. "Consumer behavior and payment choice: a conference summary," Public Policy Discussion Paper 06-1, Federal Reserve Bank of Boston.
    • Handle: RePEc:fip:fedbpp:06-1
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    File URL: http://www.bostonfed.org/economic/ppdp/2006/ppdp061.htm
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    References listed on IDEAS

    as
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    2. 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.
    3. Gene Amromin & Carrie Jankowski & Richard D. Porter, 2007. "Transforming payment choices by doubling fees on the Illinois Tollway," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 31(Q II), pages 22-47.
    4. Stacey L. Schreft, 2005. "How and why do consumers choose their payment methods?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    5. 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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    Cited by:

    1. Ching, Andrew T. & Hayashi, Fumiko, 2010. "Payment card rewards programs and consumer payment choice," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1773-1787, August.
    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.
    3. Margaret Carten & Daniel A. 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.
    4. Francisco José Callado Muñoz & Jana Hromcová & Natalia Utrero González, 2010. "Direct pricing of retail payment methods: Norway vs. US," Working Papers. Serie AD 2010-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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    Keywords

    Payment systems; Electronic funds transfers;

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