The Big Five personality traits-openness to experience, conscientiousness, extroversion, agreeableness, and neuroticism-are widely used in understanding human behavior. Using data collected from a survey and diary of consumer payment choice, we investigate how the Big Five traits affect three...

We use novel datasets from multiple sources to quantify U.S. and Canadian consumers’ net pecuniary costs of making payments at the point of sale across income cohorts. The net costs include merchants’ cost of accepting payments that is passed on to consumers as higher retail prices, payment...

This paper describes the results, content, and methodology of the 2012 Diary of Consumer Payment Choice (DCPC), the first edition of a survey that measures payment behavior through the daily recording of U.S. consumers? spending by type of payment instrument. A diary makes it possible to collect...

Using transaction data from a US consumer payments diary, we revisit the credit card debt puzzle-a scenario in which consumers revolve credit card debt while also keeping liquid assets as bank account deposits. This scenario is very common: 42 percent of consumers in our sample were...

Using transaction data from a US consumer payments diary, we revisit the credit card debt puzzle—a scenario in which consumers revolve credit card debt while also keeping liquid assets as bank account deposits. This scenario is very common: 42 percent of consumers in our sample were...

Using transaction data from a US consumer payments diary, we revisit the credit card debt puzzle-a scenario in which consumers revolve credit card debt while also keeping liquid assets as bank account deposits. This scenario is very common: 42 percent of consumers in our sample were...

We seek to analyze the extent and sources of network externalities for the automated clearinghouse (ACH) electronic payments system using a quarterly panel data set on individual bank adoption and usage of ACH. We provide three methods to identify network externalities using this panel data. The...

In consumer credit, "ability-to-pay" (ATP) rules require lenders to consider whether the consumer can repay a loan without experiencing undue hardship. ATP rules have recently been implemented or considered in many countries and markets. Using a large panel of credit card accounts, we study the...