Consumer Behavior and Payment Choice: a Conference Summary
27 Pages Posted: 19 Jul 2006
Date Written: January 2006
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.
JEL Classification: D11, D12
Suggested Citation: Suggested Citation