Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/339605 
Year of Publication: 
2026
Series/Report no.: 
DICE Discussion Paper No. 435
Publisher: 
Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE), Düsseldorf
Abstract: 
Many Central banks around the world are considering the introduction of a Central Bank Digital Currency (CBDC) as a new means of payment. One of the reasons for introducing a CBDC is a change in payment behavior towards an increasing use of electronic forms of payment. This paper examines the introduction of a CBDC as a new means of payment. We conduct a controlled laboratory experiment to assess how adoption costs and anonymity affect the demand for CBDC compared to established means of payment such as cash and deposits. We use a 2x2 treatment design in which CBDCs differ in adoption costs and anonymity. We find that adoption costs play an important role in the decision to use CBDC as a new means of payment and that anonymity plays a role in the allocation of experimental money between different means of payment.
Subjects: 
Central bank digital currencies
experimental economics
payment methods
anonymity
adoption costs
JEL: 
E41
E42
C92
ISBN: 
978-3-86304-434-3
Document Type: 
Working Paper

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