Effects of the Euro Changeover on Consumer Behaviour: Introduction to the Special Issue

Gärling, Tommy; Thøgersen, John

doi:10.1007/s10603-007-9046-1

Cited by 7 publications

(6 citation statements)

References 27 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A resulting conjecture is that the value of money to some extent depends on its experienced purchasing power in markets for goods and services. An opportunity to investigate how the value of money is learned arose when, in 2001, 12 European countries changed their domestic currencies to a common currency, the euro (Gärling & Thøgersen, 2007). In order to assess how well citizens adapted to the euro transition, Marques and Dehaene (2004) conducted monthly surveys before and after the transition in Austria and Portugal and attempted to distinguish between a rescaling hypothesis (conversion from the domestic currency to the euro through multiplication by a multiple or fraction) and a relearning hypothesis (relearning product prices in the new currency).…”

Section: Biases In Financial Decision Makingmentioning

confidence: 99%

Psychology, Financial Decision Making, and Financial Crises

Gärling

Kirchler

Lewis

et al. 2009

Psychol Sci Public Interest

Self Cite

162

View full text Add to dashboard Cite

Section: Biases In Financial Decision Makingmentioning

confidence: 99%

Psychology, Financial Decision Making, and Financial Crises

Gärling

Kirchler

Lewis

et al. 2009

Psychol Sci Public Interest

Self Cite

162

View full text Add to dashboard Cite

“…A special issue of Journal of Consumer Policy was dedicated to the adoption of euro in 2007 and across the articles the most prevalent problems were the following (Gärling and Thøgersen, 2007):…”

Section: Literature Review and Theoretical Framework Developmentmentioning

confidence: 99%

“…Adaptation to euro is linked to getting used to new coins and bank notes. Consumers' primary task after the currency changeover is to learn the value of the money in the new currency (Gärling and Thøgersen, 2007). Estonians who travel have practised using euros for many years.…”

Section: Literature Review and Theoretical Framework Developmentmentioning

confidence: 99%

Consumer attitudes and behavior related to the adoption of euro before the changeover

Kerem

Danneberg²,

Oper³

et al. 2013

Baltic Journal of Management

View full text Add to dashboard Cite

Purpose -The aim of this paper is to enhance the understanding of the consumer attitudes and behaviour towards a new currency, euro, before the process of the changeover. The approach of the current study differs from most past research on the same topic as consumer attitudes are surveyed before the currency changeover, not retrospectively based on consumer recall. The research attempts to achieve the following set of objectives: to identify the general consumer attitudes towards euro and pinpoint sources of tension, resistance and uncertainty before the currency changeover process; to identify the pre-adoption assessment of euro value scales and inflation expectations; and to identify various emotional factors related to the national and European identity in the euro adoption process. Design/methodology/approach -The data analysis of the current research adopts a qualitative methodology. To gather a full insight into the pre-changeover attitudes, opinions, fears and hopes, a total of 29 qualitative interviews were conducted. Findings -The results suggest that consumer attitudes and opinions towards the changeover process are multifaceted and concerns and uncertainties rise from various sources -from rational economic aspects to emotional aspects related to national identity. This research points also to the underestimated role of national pride in the process of transfer from the national currency to euro. Research limitations/implications -The study is one of the first attempts to research consumers before a forthcoming changeover; thus it is exploratory in its nature and has the traditional limitations of an exploratory research. Based on the initial findings, it would be possible to design a quantitative research for the subsequent countries adopting euro. Practical implications -The research identifies the attitudes of consumers before the changeover, outlining their doubts, fears and prejudices. The results can be used by subsequent countries adopting euro while planning their changeover strategies. The efforts of the strategy developers should be directed towards addressing the real challenges people face before the changeover. Originality/value -A distinctive contribution of this study lies in the addressing of the pre-changeover attitudes and opinions before the currency change took place. Although there have been surveys asking respondents to recall their pre-changeover opinions, the accuracy of the respondents' memory over time has decreased, which is why such surveys may not give a valid picture. This paper contributes to the understanding of the pre-adoption phase in a currency changeover process as seen from the point of view of consumers.

show abstract

“…The third argument is that the cash changeover entailed additional transaction costs to consumers. There are several other studies about the effects of the euro cash changeover, Gärling and Thogersen (2007) gives a short review about main findings.…”

Section: Experiment: the Wunder Et Al Studymentioning

confidence: 99%

Welfare Effects of the Euro Cash Changeover: Do Assumptions Really Matter?

Bleninger

2013

SSRN Journal

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractManski's partial identification allows less restrictive, therefore, more credible assumptions than the assumption of random treatment assignment to solve the evaluation problem. In this article the theory of partial identification is applied to the welfare effect of the euro cash changeover. When evaluating the impact of the euro cash changeover on individual welfare, Wunder et al. (2008) face the evaluation problem. Instead of arguing for a comparability of both treatment groups used (i.e. the British and the German Population), partial identification as a more robust technique is used for evaluating the effect of the euro cash changeover. Imposing less restrictive assumptions leaves out an answer about the direction of the welfare effect.

show abstract

Effects of the Euro Changeover on Consumer Behaviour: Introduction to the Special Issue

Abstract: Euro changeover, European Monetary Union, Behavioural research, Policy implications,

Cited by 7 publications

References 27 publications

Psychology, Financial Decision Making, and Financial Crises

Psychology, Financial Decision Making, and Financial Crises

Consumer attitudes and behavior related to the adoption of euro before the changeover

Welfare Effects of the Euro Cash Changeover: Do Assumptions Really Matter?

Contact Info

Product

Resources

About