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 language | English |
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Article number | N/A |
Pages (from-to) | 546-559 |
Number of pages | 14 |
Journal | EXPERIMENTAL ECONOMICS |
Volume | 16 |
Issue number | 4 |
DOIs | |
Publication status | Published - Dec 2013 |
Keywords
- Field experiment
- Currency denomination
- Banknotes
- Coins
- OPTIMAL DENOMINATIONS
- ESTIMATED SIZES
- PERCEIVED VALUE
- COINS
- CURRENCY
- MONEY
- INFLATION
- ILLUSION