This paper surveys the growing literature on payments. We begin by presenting a simple
model that illustrates the essential function of payments and how this may be implemented …

Platform strategies, which highlight the interdependence in and evolution of business
ecosystems, are increasingly relevant for sustainable business models in the digital era. So …

We apply machine-learning techniques to construct nonlinear nonparametric forecasting
models of consumer credit risk. By combining customer transactions and credit bureau data …

Financial intermediation has changed dramatically over the past 30 years, due in large part
to technological change. The paper first describes the role of the financial system in a …

This chapter provides an overview of household finance. The first part summarizes key facts
regarding household financial behavior, emphasizing empirical regularities that are …

THE commercial banking business has changed dramatically over the past 30 years, due in
large part to technological change. 1 Advances in telecommunications, information …

Consumers routinely enter into long-term contracts with providers of goods and services-
from credit cards, mortgages, cell phones, insurance, TV, and internet services to household …

Using transaction-level data from a three-day shopping diary, we estimate a model of
consumer payment instrument choice that disentangles the effect of merchant card …

We conduct an incentivized experiment to study the effect of the payment method on
spending. We find that the willingness to pay is higher when subjects pay with debit cards …

Many policymakers and some theories hold that restricting access to expensive credit helps
consumers by preventing overborrowing. I examine some effects of restricting access, using …