Consumer Behavior and Payment Choice: a Conference Summary

27 Pages Posted: 19 Jul 2006

See all articles by Marianne D. Crowe

Marianne D. Crowe

Federal Reserve Bank of Boston

Scott D. Schuh

Federal Reserve Bank of Boston - Research Department

Joanna Stavins

Federal Reserve Bank of Boston

Date Written: January 2006

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.

JEL Classification: D11, D12

Suggested Citation

Crowe, Marianne D. and Schuh, Scott and Stavins, Joanna, Consumer Behavior and Payment Choice: a Conference Summary (January 2006). FRB of Boston Public Policy Discussion Paper No. 06-1. Available at SSRN: https://ssrn.com/abstract=917870 or http://dx.doi.org/10.2139/ssrn.917870

Marianne D. Crowe

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States

Scott Schuh (Contact Author)

Federal Reserve Bank of Boston - Research Department ( email )

600 Atlantic Ave.
Boston, MA 02210
United States
617-973-3941 (Phone)
617-619-7541 (Fax)

Joanna Stavins

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States
617-973-4217 (Phone)
617-973-4218 (Fax)

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