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Coins, Notes and Their Substitutes Impact Spending

Posted by Charleston Voice

By Richard Giedroyc, World Coin News
June 19, 2012

In a recent editorial written for both Numismatic News and for World Coin News, I wrote about a recent conference held in Denmark where there were serious discussions regarding the impact of a society in which physical coins and bank notes have become completely obsolete due to modern technology.

I commented that it would be interesting to read the papers delivered at this conference. Since that time Priya Raghubir, a research professor of marketing at the Stern School of Business at New York University, has provided me with the paper he presented at that conference. Raghubir’s paper, co-authored with, Joydeep Srivastava, is titled “The Denomination Effect.” [13-pg paper can be read here...CV]

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Coins, Notes and Their Substitutes Impact Spending