Measuring unfamiliar economic concepts: the case of prepaid card adoption
Recent evidence suggests that the use of prepaid cards is growing in the United States. The study of how prepaid cards fit into the existing payments market requires accurate data about the adoption of prepaid cards among consumers. This paper describes several experiments conducted by the Consumer Payments Research Center that compare the efficacy of various question forms regarding reported adoption rates. A primary focus is on the effect of "disaggregation" or asking about adoption of a number of prepaid card categories sequentially rather than asking about adoption of prepaid cards as a ...
Battery order effects on relative ratings in Likert scales
Likert-scale batteries, sequences of questions with the same ordinal response choices, are often used in surveys to collect information about attitudes on a related set of topics. Analysis of such data often focuses on the study of relative ratings or the likelihood that one item is given a lower (or higher) rating than another item. This work studies how different orderings of the items within a battery and, in particular, the relative location of items affect relative rating distributions. We take advantage of data from the 2012?2014 Survey of Consumer Payment Surveys, in which item order ...
The 2016 and 2017 Surveys of Consumer Payment Choice: Technical Appendix
This document serves as the technical appendix to the 2016 and 2017 Surveys of Consumer Payment Choice administered by the Dornsife Center for Economic and Social Research (CESR). The Survey of Consumer Payment Choice (SCPC) is an annual study designed primarily to collect data on attitudes toward and use of various payment instruments by consumers over the age of 18 in the United States. The main report, which introduces the survey and discusses the principal economic results, is on our website at frbatlanta.org/banking-and-payments/consumer-payments/survey-of-consumer-payment-choice. In ...
The influence of gender and income on the household division of financial responsibility
This paper studies how gender and income dynamics influence the division of responsibility in two-adult households for various activities, including those tasks directly related to financial decisionmaking. The data, from the 2012 Survey of Consumer Payment Choice, consist of the respondents? categorical self-assessments of their individual levels of responsibility for various tasks. A data construct, in which some households have both adults participate in the survey, is exploited to develop a penalized latent variable model that accounts for systemic response errors. The data reveal that ...
Modeling anchoring effects in sequential Likert scale questions
Surveys in many different research fields rely on sequences of Likert scale questions to assess individuals' general attitudes toward a set of related topics. Most analyses of responses to such a series do not take into account the potential measurement error introduced by the context effect we dub "sequential anchoring," which occurs when the rating for one question influences the rating given to the following question by favoring similar ratings. The presence of sequential anchoring can cause systematic bias in the study of relative ratings. We develop a latent-variable framework for ...
U.S. Consumers' Use of Personal Checks: Evidence from a Diary Survey
This paper presents a snapshot of U.S. consumers’ use of paper checks in 2017 and 2018, combining data from the 2017and 2018 Diaries of Consumer Payment Choice.Other data sources have tracked the decline in the use of paper checks since 2000. This report adds to that data by delving into the characteristics of 1,600 individual transactions—in particular, dollar amount, payee, and payer—made by a representative sample of U.S. consumers using checks. Among the findings:•Consumers used checks for 7 percent of transactions overall in 2017 and 2018 and wrote about three checks a ...
The 2015 and 2016 diaries of consumer payment choice: technical appendix
This document serves as the technical appendix to the 2015 and 2016 editions of the Diary of Consumer Payment Choice (DCPC) administered by the Center for Economic and Social Research. The DCPC is a study designed primarily to collect data on financial transactions over a three-day period by U.S. consumers ages 18 and older. In this data report, we detail the technical aspects of the survey design, implementation, and analysis.
Sample Bias Related to Household Role
This paper develops a two-stage statistical analysis to identify and assess the effect of a sample bias associated with an individual's household role. Survey responses to questions about the respondent's role in household finances and a sampling design in which some households have all members take the survey enable the estimation of distributions for each individual's share of household responsibility. The methodology is applied to the 2017 Survey of Consumer Payment Choice. The distribution of responsibility shares among survey respondents suggests that the sampling procedure favors ...
The 2012 diary of consumer payment choice: technical appendix
This document serves as the technical appendix to the 2012 Diary of Consumer Payment Choice administered by the RAND Corporation. The Diary of Consumer Payment Choice (DCPC) is a study designed primarily to collect data on financial transactions over a three-day period by consumers over the age of 18 in the United States. In this data report, we detail the technical aspects of the survey design, implementation, and analysis.
Estimating population means in the 2012 Survey of Consumer Payment Choice
This report examines the effect of adding to a longitudinal panel on estimates of population parameters in the 2012 Survey of Consumer Payment Choice (SCPC) more than 1,000 newly recruited respondents specifically targeted to fill segments of the U.S. population that tend to be underbanked and underrepresented in the longitudinal panel. In many ways, the new respondents have fundamentally different characteristics from the ongoing respondents. To minimize confounding sources of change to annual estimates when making comparisons across years, the official 2012 SCPC publication was based on the ...