The Tangibility Effect of Paper Money and Coins in an Investment Experiment

Junyi Shen and Hiromasa Takahashi

No DP2015-41, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: In this study, we conducted a simple self-control investment experiment to investigate the tangibility effect of paper money and coin. We found that, compared to the non-cash condition, physically holding either paper money or coin made subjects significantly less likely to participate in the investment experiment and those who did participate invested significantly less. In addition, an aversion towards coins in small investments and a gender difference in investment decision were found.

Keywords: Tangibility effect; Paper money; Coin; Experiment (search for similar items in EconPapers)
JEL-codes: C91 D03 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2015-11
New Economics Papers: this item is included in nep-cbe and nep-exp
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https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2015-41.pdf First version, 2015 (application/pdf)

Related works:
Journal Article: The tangibility effect of paper money and coins in an investment experiment (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:dp2015-41

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