Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/171789 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Working Papers No. 17-4
Verlag: 
Federal Reserve Bank of Boston, Boston, MA
Zusammenfassung: 
We use new data from the 2015 Diary of Consumer Payment Choice to analyze price discounts and surcharges based on the payment method used for transactions. We examine consumer preferences for specific payment instruments and test whether consumer demand for payment instruments is price elastic. Specifically, we test whether consumers are likely to deviate from their preferred methods in order to get a discount or to avoid a surcharge. We find that the occurrence of price incentives is low, but consumers who preferred other payment methods had an 11.7 percent probability of switching to cash because of cash discounts, after controlling for merchant category and dollar value of the transaction. Payment method choice is affected very strongly by consumer individual preferences, but steering by merchants may be effective under some circumstances. Both merchants’ reluctance to offer price discounts and consumers’ limited response to them lead to the low observed occurrences of such incentives.
Schlagwörter: 
consumer payments
consumer preferences
merchant steering
discounts
surcharges
JEL: 
D03
D14
G02
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
644.98 kB





Publikationen in EconStor sind urheberrechtlich geschützt.