My five pounds are not as good as yours, so I will spend them

Sotiris Vandoros*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)

Abstract

An experimental approach is used to examine how money denomination and the choice between or availability of coins and banknotes may influence consumers' purchasing behaviour. Evidence shows that for small amounts of money, consumers may prefer a smaller monetary value in banknotes rather than a higher value in coins. Findings also suggest that people carrying coins are more likely to make a purchase of small value than people not carrying coins.

Original languageEnglish
Article numberN/A
Pages (from-to)546-559
Number of pages14
JournalEXPERIMENTAL ECONOMICS
Volume16
Issue number4
DOIs
Publication statusPublished - Dec 2013

Keywords

  • Field experiment
  • Currency denomination
  • Banknotes
  • Coins
  • OPTIMAL DENOMINATIONS
  • ESTIMATED SIZES
  • PERCEIVED VALUE
  • COINS
  • CURRENCY
  • MONEY
  • INFLATION
  • ILLUSION

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