Why Do Shoppers Use Cash? Evidence from Shopping Diary Data
Why Do Shoppers Use Cash? Evidence from Shopping Diary Data
复制标题
购物者为何使用现金？
DOI：
10.1111/jmcb.12379
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发表时间：
2017
期刊：
影响因子：
--
通讯作者：
Angelika Welte
中科院分区：
文献类型：
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作者：
Naoki Wakamori;Angelika Welte
最近的研究发现，尽管借记卡和信用卡等其他支付方式普遍存在，但现金仍然是小额交易的主要支付方式。对于政策制定者来说，一个重要的问题是，消费者是真的更喜欢使用现金，还是商家限制使用信用卡。利用加拿大银行2009年的支付调查方法，我们估计了一个广义的多项logit支付选择模型，以提取个人异质性（需求侧因素），同时控制商家对卡的接受程度（供给侧因素）。基于一个反事实的练习，我们假设商家普遍接受信用卡，我们发现一些消费者会减少他们的现金使用，但这种减少的幅度很小。我们的研究结果表明，在小额交易中使用现金主要受消费者偏好的驱动。
Recent studies find that cash remains a dominant payment choice for small-value transactions despite the prevalence of alternative means of payment such as debit and credit cards. For policy makers an important question is whether consumers truly prefer using cash or merchants restrict card usage. Using the Bank of Canada’s 2009 Method of Payment Survey, we estimate a generalized multinomial logit model of payment choices to extract individual heterogeneity (demand-side factors) while controlling for merchants’ acceptance of cards (supply-side factors). Based on a counterfactual exercise where we assume universal card acceptance among merchants, we find that some consumers would decrease their cash usage but the magnitude of this decrease is small. Our results imply that the use of cash in small-value transactions is driven mainly by consumers’ preferences.