Explaining adoption and use of payment instruments by U . S . consumers

  title={Explaining adoption and use of payment instruments by U . S . consumers},
  author={Sergei Koulayev},
Motivated by recent policy intervention into payments markets that can lead to changes to the prices that consumers face for different payment instruments, this paper develops and estimates a structural model of adoption and use of payment instruments by U.S. consumers. We utilize a cross-section from the Survey of Consumer Payment Choice, a new survey of consumer behavior. Our structural model emphasizes the distinction between the adoption and use of a payment instrument. We evaluate… CONTINUE READING
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