Consumer Preferences for a Digital Euro: Insights from a Discrete Choice Experiment in Austria (Helmut Elsinger, Helmut Stix, Martin Summer)

Helmut Elsinger (), Helmut Stix () and Martin Summer ()
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Helmut Elsinger: Oesterreichische Nationalbank, Economic Studies Division
Helmut Stix: Oesterreichische Nationalbank, Economic Studies Division, http://www.oenb.at
Martin Summer: Oesterreichische Nationalbank, Economic Studies Division, http://www.oenb.at

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: This paper examines consumers intended adoption of a digital euro in Austria using a discrete choice experiment. We estimate a mixed logit model to quantify the role of key attributes such as privacy, offline functionality, security against financial loss, monetary incentives and payment form factors. Our findings indicate that security and financial incentives are the strongest drivers of adoption, while privacy plays a secondary role. We identify significant heterogeneity in adoption likelihood across socio-demographic groups. Simulations suggest that under realistic design assumptions, approximately 45% of individuals are found to have an intention to adopt a digital euro.

Keywords: Central Bank Digital Currency (CBDC); Consumer Adoption; Discrete Choice Experiment; Payment Preferences (search for similar items in EconPapers)
JEL-codes: C35 D12 E42 G21 (search for similar items in EconPapers)
Pages: 65
Date: 2025-07-08
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