In contrast to abundant theoretical literature, there are almost no empirical studies on how individuals actually deal with cash. In this paper we analyze euro transactions, made during various games of Monopoly® (European edition), where in some games we deliberately left out one of the notes....

If the denominational structure of the euro is used in an optimal way, there should be no preferences for using certain coins and notes. In Kippers et al. (2003) it is documented that the Dutch public did have certain preferences concerning the Dutch guilder, in the sense that some notes and...