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Ctrl+C Ctrl+pay: Do people mirror payment behaviour of their peers?

Carin Cruijsen and Joris Knoben

DNB Working Papers from Netherlands Central Bank, Research Department

Abstract: For stakeholders in the payment system seeking to influence the usage of specific payment instruments, it is important to know what drives consumers' choice of payment instrument. However, little is known about how the social environment influences payment behaviour. This study fills this gap by researching the relevance of peer effects for payment behaviour. We used the detailed payment diary data of Dutch consumers. Our findings show that payment behaviour is strongly influenced by the environment that people live in, especially when the environment is characterised by strong social cohesion. Hence, our study offers new insights into the diffusion of payment behaviour.

Keywords: payment diaries; payment behaviour; peer effects; consumer survey (search for similar items in EconPapers)
JEL-codes: A14 D12 D14 E42 E58 Z13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac, nep-pay, nep-soc and nep-ure
Date: 2018-10
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:dnbwpp:611

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