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This paper summarizes the proceedings of the second Consumer Behavior and Payment Choice conference, held at the Federal Reserve Bank of Boston on July 2527, 2006. These conferences are unique in featuring the collaboration of two groups of payments experts the private-sector payments industry...
Persistent link: https://www.econbiz.de/10003713633
We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a Collective Axiom of Revealed Preference (CARP), which provides...
Persistent link: https://www.econbiz.de/10003771615
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...
Persistent link: https://www.econbiz.de/10003346643
American households have received a triple dose of bad news since the beginning of the current recession: The greatest collapse in asset values since the Great Depression, a sharp tightening in credit availability, and a large increase in unemployment risk. We present measures of the size of...
Persistent link: https://www.econbiz.de/10003864307
In public good games, voluntary contributions tend to start off high and decline as the game is repeated. If high contributors are matched, however, contributions tend to stay high. We propose a formalization predicting that high contributors will self-select into groups committed to charitable...
Persistent link: https://www.econbiz.de/10003850332
This paper posits that significant changes in 19th century British recreational travel patterns resulted from a change in the manner in which tourists used entertaining stimuli in order to attain pleasure. Consumers no longer merely viewed arousing stimuli, but attempted to use them to produce...
Persistent link: https://www.econbiz.de/10008662905
We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. We were given details of a randomized interest rate experiment conducted by the lender between October 2006 and January 2007. Access to such information is rare....
Persistent link: https://www.econbiz.de/10008900901
We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...
Persistent link: https://www.econbiz.de/10008902391
We study the properties of a profit-maximizing monopolist's optimal price distribution when selling to a loss-averse consumer, where (following Köszegi and Rabin (2006)) we assume that the consumer's reference point is her recent rational expectations about the purchase. If it is close to...
Persistent link: https://www.econbiz.de/10008903623
Persistent link: https://www.econbiz.de/10008699896