John Duffy

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Adoption of a New Payment Method: Theory and Experimental Evidence

Staff Working Paper 2017-28 Jasmina Arifovic, John Duffy, Janet Hua Jiang
We model the introduction of a new payment method, e.g., e-money, that competes with an existing payment method, e.g., cash. The new payment method involves relatively lower per-transaction costs for both buyers and sellers, but sellers must pay a fixed fee to accept the new payment method.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Central bank research, Digital Currencies JEL Code(s): C, C3, C35, C8, C83, C9, C92, E, E4, E41

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