Ctrl C Ctrl Pay: Do People Mirror Payment Behaviour of Their Peers?

38 Pages Posted: 1 Nov 2018

See all articles by Carin van der Cruijsen

Carin van der Cruijsen

De Nederlandsche Bank

Joris Knoben

Radboud University Nijmegen - Institute for Management Research

Date Written: October 22, 2018

Abstract

For stakeholders in the payment system seeking to influence the usage of specific payment instruments, it is important to know what drives consumers’ choice of payment instrument. However, little is known about how the social environment influences payment behaviour. This study fills this gap by researching the relevance of peer effects for payment behaviour. We used the detailed payment diary data of Dutch consumers. Our findings show that payment behaviour is strongly influenced by the environment that people live in, especially when the environment is characterised by strong social cohesion. Hence, our study offers new insights into the diffusion of payment behaviour.

Keywords: payment diaries, payment behaviour, peer effects, consumer survey

JEL Classification: A14, D12, D14, E42, E58, Z13

Suggested Citation

van der Cruijsen, Carin and Knoben, Joris, Ctrl C Ctrl Pay: Do People Mirror Payment Behaviour of Their Peers? (October 22, 2018). De Nederlandsche Bank Working Paper No. 611. Available at SSRN: https://ssrn.com/abstract=3275219 or http://dx.doi.org/10.2139/ssrn.3275219

Carin van der Cruijsen (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

HOME PAGE: http://www.dnb.nl/en/onderzoek-2/onderzoekers/overzicht-persoonlijke-paginas/index.jsp

Joris Knoben

Radboud University Nijmegen - Institute for Management Research ( email )

PO Box 9108
Nijmegen, 6500 HK
Netherlands

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