Kalckreuth, Ulf; Schmidt, Tobias; Stix, Helmut - In: Empirical Economics 46 (2014) 3, pp. 1019-1055
survey data on payment behaviour of German consumers, we shed light on how individuals decide on their cash usage. We employ … a two-stage empirical framework which jointly explains payment card ownership and the use of cash. Our results indicate … that cash usage is compatible with systematic economic decision making. Consumers decide on the adoption of payment cards …