How people pay in Uruguay: the role of transaction characteristics

Rodrigo Lluberas

No 2014005, Documentos de trabajo from Banco Central del Uruguay

Abstract: A number of changes in the payment system have taken place over the last couple of years that are likely to change dramatically how households pay for their purchases in Uruguay. We use a household expenditure survey with detailed data on household demographics and transaction characteristics to estimate a multiple choice model of household payment instrument use. We find that not including transaction characteristics results in bias estimates of household characteristics effects. Indeed, we find that once we include transaction characteristics, income and age play a minor role in explaining household payment instrument choice in Uruguay

Keywords: payment instruments; consumer behavior; multinomial logit model (search for similar items in EconPapers)
JEL-codes: D12 E41 G20 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2014
New Economics Papers: this item is included in nep-dcm and nep-mac
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Citations: View citations in EconPapers (3)

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