nep-pay New Economics Papers
on Payment Systems and Financial Technology
Issue of 2025–06–23
24 papers chosen by
Bernardo Bátiz-Lazo, Northumbria University


  1. Banking Crises and Central Bank Digital Currency in a Monetary Economy By Tarishi Matsuoka; Makoto Watanabe
  2. Empowering smallholder farmers with blockchain-enabled digital identities: the case of CIMMYT for traceability, financial inclusion and value chain integration By Radic, Ivana; Gardeazabal Monsalve, Andrea
  3. Banking Crises and Central Bank Digital Currency in a Monetary Economy By Makoto WATANABE; Tarishi Matsuoka
  4. Trends in the cryptocurrency market By Shilov Kirill; Zubarev Andrei
  5. Interchange Fees in Payment Networks: Implications for Prices, Profits, and Welfare By Robert M. Hunt; Konstantinos Serfes; Yin Zhang
  6. Becoming Immutable: How Ethereum is Made By Andrea Canidio; Vabuk Pahari
  7. Information Technology, Gender Economic Inclusion and Environment Sustainability in Sub-Sahara Africa By Cheikh T. Ndour; Simplice A. Asongu
  8. Price Discovery in Cryptocurrency Markets By Juan Plazuelo Pascual; Carlos Tardon Rubio; Juan Toro Cebada; Angel Hernando Veciana
  9. The Surprising Irrelevance of Total-Value-Locked on Cryptocurrency Returns By Matt Brigida
  10. Opening the floodgates: How big companies can reap the benefits of internal crowdfunding By Schöttl, Claus P.; Homma, Christian; Schweisfurth, Tim G.; Raasch, Christina
  11. Banking for Boomers – A Field Experiment on Technology Adoption in Financial Services By Katharina Hartinger; Erik Sarrazin; David J. Streich
  12. The Decline of Bank Branching By Rajesh P. Narayanan; Dimuthu Ratnadiwakara; Philip Strahan
  13. Central Bank Communication with Public: Bank of England and Twitter (X) By Fatih Kansoy; Joel Mundy
  14. The Determinants of Net Interest Margin in the Turkish Banking Sector: Does Bank Ownership Matter? Central Bank Digital Currencies By Fatih Kansoy
  15. Bike-sharing systems supported by blockchain technologies: opportunities and implementation challenges By Détraz Christophe; Maximiliano Jeanneret Medina; Cédric Baudet
  16. Multilateral collaborative partnerships and digital innovation in agri-food systems By Metcalfe, Hannah; Gardeazabal Monsalve, Andrea
  17. The digital landscape in Eastern India: Findings from the digital needs assessment surveys from Bihar and Odisha, India By Adeeth Cariappa, Ajjikuttira Girish; Khed, Vijayalaxmi; Singaraju, Niyati; Gartaula, Hom N.
  18. Towards a consistent framework for analyzing behavioral design in smartphone apps By Ostrode, Nicholas
  19. Machine learning and financial inclusion: Evidence from credit risk assessment of small-business loans in China By YANG, ZHANG; JIANXIONG LIN; YIHE QIAN; LIANJIE SHU
  20. Digital Literacy In Electronic Banking: A Key To Employee Well-Being By Jalal Moustakim; Mohammed Baaddi
  21. Comercio electrónico transfronterizo en América Latina: estrategias y herramientas para las pymes y las empresas lideradas por mujeres By Arteaga, Javiera; Libertelli, Erica; Pueyrredón, Marcos; Trevisan, Pedro
  22. ESG in Platform Markets By Buehler, Stefan; Chen, Rachel R.; Halbheer, Daniel; Zeng, Helen S.
  23. Exploring Microstructural Dynamics in Cryptocurrency Limit Order Books: Better Inputs Matter More Than Stacking Another Hidden Layer By Haochuan; Wang
  24. Failing Banks By Sergio Correia; Stephan Luck; Emil Verner

  1. By: Tarishi Matsuoka; Makoto Watanabe
    Abstract: This paper examines the role of Central Bank Digital Currency (CBDC) in a monetary model in which fundamental-based bank runs arise endogenously. We demonstrate that introducing a CBDC designed to replicate the properties of cash displaces physical cash and, when offered at a sufficiently attractive rate, can increase the likelihood of a bank run. In contrast, when the CBDC is designed to resemble bank deposits, cash, CBDC, and deposits can coexist as media of exchange, and a high CBDC rate can eliminate the risk of runs. We further characterize the optimal CBDC policy within this framework.
    Keywords: monetary equilibrium, bank run, CBDC
    JEL: E42 E58 G21
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:ces:ceswps:_11922
  2. By: Radic, Ivana; Gardeazabal Monsalve, Andrea
    Abstract: This paper examines the transformative potential of blockchain-enabled digital identities in empowering smallholder farmers, with a specific focus on CIMMYT’s initiatives in the Global South. By providing farmers with secure, verifiable credentials and data wallets, these technologies address critical challenges in financial inclusion, supply chain traceability, and data governance. Leveraging case studies from CIMMYT’s partnerships with Bluenumber and Identi, the paper explores the application of blockchain to enhance data ownership, improve market access, and foster transparency within agrifood systems. Findings highlight how digital identities enable farmers to control and monetize their data, access financial services, and comply with traceability standards, thereby strengthening their position in global value chains. Despite significant potential, challenges such as digital literacy gaps, infrastructure limitations, and regulatory disparities persist. The paper concludes with recommendations for scaling these solutions, emphasizing region-specific adaptations, collaborative frameworks, and robust data governance to maximize impact and inclusivity.
    Keywords: smallholders; financial inclusion; value chains; blockchain technology; digital divide
    Date: 2024–12
    URL: https://d.repec.org/n?u=RePEc:fpr:cgiarp:172557
  3. By: Makoto WATANABE; Tarishi Matsuoka
    Abstract: This paper examines the role of Central Bank Digital Currency (CBDC) in a monetary model in which fundamental-based bank runs arise endogenously. We demonstrate that introducing a CBDC designed to replicate the properties of cash displaces physical cash and, when offered at a sufficiently attractive rate, can increase the likelihood of a bank run. In contrast, when the CBDC is designed to resemble bank deposits, cash, CBDC, and deposits can coexist as media of exchange, and a high CBDC rate can eliminate the risk of runs. We further characterize the optimal CBDC policy within this framework.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:cnn:wpaper:25-015e
  4. By: Shilov Kirill (Gaidar Institute for Economic Policy); Zubarev Andrei (Gaidar Institute for Economic Policy)
    Abstract: 2024 turned out to be one of the most significant years for the cryptocurrency market. The capitalization of the entire market reached its new highs in 2024 at $3.71 trillion in December, surpassing the peak of August 2022, when the crypto market was valued at $2.8 trillion. In 2024, Bitcoin was the main market driver, whose capitalization grew by more than 133% over the year, exceeding the $2 trillion mark, while the capitalization of the second largest cryptocurrency Ether increased by 57% (to $440 bn), stablecoins by 49% (to $200 bn), and all other altcoins together by 127.5% (to $830 bn). Bitcoin’s share of total market capitalization continues its gradual growth for the second year running: while in 2023 Bitcoin’s share of market capitalization averaged 47.3%, in 2024 it is already 54.8%. In price terms, Bitcoin in December exceeded the “psychological†mark of $100, 000.
    Keywords: Cryptocurrency market, Bitcoin, ETF, Altcoins
    JEL: G18 G23 K24 L86
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:gai:ppaper:ppaper-2025-1422
  5. By: Robert M. Hunt; Konstantinos Serfes; Yin Zhang
    Abstract: In a two-sided model of the payment card market, we introduce a specific form of elastic demand (constant elasticity), merchant market power, ad valorem fees, and cash as an alternative. We derive the “credit card tax, ” consisting of an endogenously determined interchange fee and any rewards paid. We characterize how this tax influences prices, profits, and welfare. We also examine how these relationships vary under different assumptions about the elasticity of demand, merchant market power, and differentiation between cash and credit. Under the assumptions of our model, by endogenizing the credit card tax, we show that capping interchange fees benefits all consumers by lowering these taxes, even if rewards decrease.
    Keywords: credit cards; two sided networks; merchant competition; interchange fees; regulation
    JEL: L13 L40 G28 E42
    Date: 2025–06–04
    URL: https://d.repec.org/n?u=RePEc:fip:fedpwp:100061
  6. By: Andrea Canidio; Vabuk Pahari
    Abstract: We analyze blocks proposed for inclusion in the Ethereum blockchain during 8 minutes on December 3rd, 2024. Our dataset comprises 38 winning blocks, 15, 097 proposed blocks, 10, 793 unique transactions, and 2, 380, 014 transaction-block pairings. We find that exclusive transactions--transactions present only in blocks proposed by a single builder--account for 85% of the fees paid by all transactions included in winning blocks. We also find that a surprisingly large number of user transactions are delayed: although proposed during a bidding cycle, they are not included in the corresponding winning block. Many such delayed transactions are exclusive to a losing builder. We also identify two arbitrage bots trading between decentralized (DEX) and centralized exchanges (CEX). By examining their bidding dynamics, we estimate that the implied price at which these bots trade USDC/WETH and USDT/WETH on CEXes is between 3.4 and 4.2 basis points better than the contemporaneous price reported on Binance.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.04940
  7. By: Cheikh T. Ndour (Cheikh Anta Diop University, Dakar, Senegal); Simplice A. Asongu (University of Johannesburg, Johannesburg, South Africa)
    Abstract: Purpose – This study examines the relevance of information and communication technologies in the effect of gender economic inclusion on environmental sustainability. Design/methodology/approach – The focus is on a panel of 42 sub-Saharan African countries over the period 2005-2020. The empirical evidence is based on generalized method of moments. The environmental sustainability indicator used is CO2 emissions per capita. Two indicators of women's economic inclusion are considered: women's labour force participation and women's unemployment. The chosen ICT indicators are mobile phone penetration, internet penetration and fixed broadband subscriptions. Findings – The results show that: (i) fixed broadband subscriptions represent the most relevant ICT moderator of gender economic inclusion for an effect on CO2 emissions; (ii) negative net effects are apparent for the most part with fixed broadband subscriptions (iii) both positive ICT thresholds (i.e., critical levels for complementary policies) and negative ICT thresholds (i.e., minimum ICT levels for negative net effects) are provided; (iv) ICT synergy effects are apparent for female unemployment, but not for female employment. In general, the joint effect of ICTs or their synergies and economic inclusion should be a concern for policymakers in order to better ensure sustainable development. Moreover, the relevant ICT policy thresholds and mobile phone threshold for complementary policy are essential in promoting a green economy. Originality/value –The study complements the extant literature by assessing linkages between information technology, gender economic inclusion and environmental sustainability.
    Keywords: ICT, Gender inclusion; Environment sustainability; Sub-Saharan Africa
    JEL: C52 O38 O40 O55 P37
    Date: 2024–01–01
    URL: https://d.repec.org/n?u=RePEc:dbm:wpaper:24/001
  8. By: Juan Plazuelo Pascual; Carlos Tardon Rubio; Juan Toro Cebada; Angel Hernando Veciana
    Abstract: This document analyzes price discovery in cryptocurrency markets by comparing centralized and decentralized exchanges, as well as spot and futures markets. The study focuses first on Ethereum (ETH) and then applies a similar approach to Bitcoin (BTC). Chapter 1 outlines the theoretical framework, emphasizing the structural differences between centralized exchanges and decentralized finance mechanisms, especially Automated Market Makers (AMMs). It also explains how to construct an order book from a liquidity pool in a decentralized setting for comparison with centralized exchanges. Chapter 2 describes the methodological tools used: Hasbrouck's Information Share, Gonzalo and Granger's Permanent-Transitory decomposition, and the Hayashi-Yoshida estimator. These are applied to explore lead-lag dynamics, cointegration, and price discovery across market types. Chapter 3 presents the empirical analysis. For ETH, it compares price dynamics on Binance and Uniswap v2 over a one-year period, focusing on five key events in 2024. For BTC, it analyzes the relationship between spot and futures prices on the CME. The study estimates lead-lag effects and cointegration in both cases. Results show that centralized markets typically lead in ETH price discovery. In futures markets, while they tend to lead overall, high-volatility periods produce mixed outcomes. The findings have key implications for traders and institutions regarding liquidity, arbitrage, and market efficiency. Various metrics are used to benchmark the performance of modified AMMs and to understand the interaction between decentralized and centralized structures.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.08718
  9. By: Matt Brigida
    Abstract: A common assumption in cryptocurrency markets is a positive relationship between total-value-locked (TVL) and cryptocurrency returns. To test this hypothesis we examine whether the returns of TVL-sorted portfolios can be explained by common cryptocurrency factors. We find evidence that portfolios formed on TVL exhibit returns that are linear functions of aggregate crypto market returns, that is they can be replicated with appropriate weights on the crypto market portfolio. Thus, strategies based on TVL can be priced with standard asset pricing tools. This result holds true both for total TVL and a simple TVL measure that removes a number of ways TVL may be overstated.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.03287
  10. By: Schöttl, Claus P.; Homma, Christian; Schweisfurth, Tim G.; Raasch, Christina
    Abstract: Digital technologies enable employees at all levels to participate in distributed decision-making. We examine the design principles, benefits, and challenges of a new type of distributed decision-making: internal crowdfunding. We build on a 5-year case study of internal crowdfunding contests at Siemens to deepen our understanding of the design principles of internal crowdfunding and its potential for corporate innovation. Based on this data, we discuss the three design choices in internal crowdfunding (contributors, configuration, and control), find four key benefits (decentralization, cross-collaboration, institutionalization, and intrapreneurship), and identify three key challenges (dealing with rejected ideas, evaluation biases, and implementation and follow-on funding) and potential actions by managers to overcome them. The article contributes to both the emerging literature on internal crowdfunding and the literature on distributed decision-making.
    Keywords: Crowdfunding, Distributed decision-making, Internal crowdfunding, Intrapreneurship, Ideation, Siemens
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:ifwkie:318394
  11. By: Katharina Hartinger (Johannes-Gutenberg University, Germany); Erik Sarrazin (Johannes-Gutenberg University, Germany); David J. Streich (Catholic University Eichstätt-Ingolstadt)
    Abstract: Digitalization in banking is leaving elderly clients at risk of losing access to financial services, but little is known about technology adoption at an advanced age. We develop and evaluate training interventions to foster internet banking adoption in a field experiment with more than 25, 000 elderly clients of a large German savings bank, of whom we randomize 333 into training. Our administrative banking panel data allows us to account for selection on observables and assess the sustainability of treatment effects. After the interventions, the share of clients who use internet banking increases by 26 percentage points in the treatment group relative to a matched control group. In terms of sustainable usage, the share of online transactions increases by 13 percentage points and remains elevated four months later. An extensive placebo analysis suggests that as much as 85% of the effect can be causally attributed to the training interventions. We find that training boosts non-technical adoption skills and reduces key adoption barriers. Treatment effects are larger for women and those not in charge of household finances. We further estimate intent-to-treat effects and predict dropout along the entire multi-stage adoption process to shed light on practical considerations when rolling out large-scale technology adoption interventions in this age group. Specifically, we show that the type of training (self-guided versus social learning) impacts dropout differentially despite similar treatment effects overall, with the social learning treatment being more inclusive.
    Keywords: technology adoption, internet banking, financial inclusion, digitalization, non-cognitive skills
    JEL: O33 G21 I21 J24 D12 D91 C93
    Date: 2025–06–17
    URL: https://d.repec.org/n?u=RePEc:jgu:wpaper:2505
  12. By: Rajesh P. Narayanan; Dimuthu Ratnadiwakara; Philip Strahan
    Abstract: We study U.S. bank branch openings and closings from 2001 to 2023. Both are more common in areas with low deposit franchise value, a consequence of greater interest-rate sensitivity among financially sophisticated households with higher digital banking adoption. The effects are strongest for large banks. Lending plays a minimal role. Incumbents retain branches where depositors are less sensitive to rates because they can extract deposit spreads; entrants avoid such markets because sticky customers are difficult to attract. The pandemic accelerated closures by increasing digital reliance. Our findings highlight deposit franchise value as the primary driver of modern branch restructuring.
    JEL: G20
    Date: 2025–05
    URL: https://d.repec.org/n?u=RePEc:nbr:nberwo:33773
  13. By: Fatih Kansoy; Joel Mundy
    Abstract: Central banks increasingly use social media to communicate beyond financial markets, yet evidence on public engagement effectiveness remains limited. Despite 113 central banks joining Twitter between 2008 and 2018, we lack understanding of what drives audience interaction with their content. To examine engagement determinants, we analyzed 3.13 million tweets mentioning the Bank of England from 2007 to 2022, including 9, 810 official posts. We investigate posting patterns, measure engagement elasticity, and identify content characteristics predicting higher interaction. The Bank's posting schedule misaligns with peak audience engagement times, with evening hours generating the highest interaction despite minimal posting. Cultural content, such as the Alan Turing 50 pound note, achieved 1, 300 times higher engagement than routine policy communications. Engagement elasticity averaged 1.095 with substantial volatility during events like Brexit, contrasting with the Federal Reserve's stability. Media content dramatically increased engagement: videos by 1, 700 percent, photos by 126 percent, while monetary policy announcements and readability significantly enhanced all metrics. Content quality and timing matter more than posting frequency for effective central bank communication. These findings suggest central banks should prioritize accessible, media-rich content during high-attention periods rather than increasing volume, with implications for digital communication strategies in fulfilling public transparency mandates.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.02559
  14. By: Fatih Kansoy
    Abstract: This research presented an empirical investigation of the determinants of the net interest margin in Turkish Banking sector with a particular emphasis on the bank ownership structure. This study employed a unique bank-level dataset covering Turkey`s commercial banking sector for the 2001-2012. Our main results are as follows. Operation diversity, credit risk and operating costs are important determinants of margin in Turkey. More efficient banks exhibit lower margin and also price stability contributes to lower margin. The effect of principal determinants such as credit risk, bank size, market concentration and inflation vary across foreign-owned, state-controlled and private banks. At the same time, the impacts of implicit interest payment, operation diversity and operating cost are homogeneous across all banks
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.04384
  15. By: Détraz Christophe (HES-SO - Haute École spécialisée de Suisse occidentale = HES-SO University of Applied Sciences and Arts Western Switzerland = Fachhochschule Westschweiz [Schweiz]); Maximiliano Jeanneret Medina (HES-SO - Haute École spécialisée de Suisse occidentale = HES-SO University of Applied Sciences and Arts Western Switzerland = Fachhochschule Westschweiz [Schweiz]); Cédric Baudet (HES-SO - Haute École spécialisée de Suisse occidentale = HES-SO University of Applied Sciences and Arts Western Switzerland = Fachhochschule Westschweiz [Schweiz])
    Abstract: Bike-sharing systems (BSS), while contributing to the ecological transition, suffer from high management costs and slow user adoption due to two major problems: fragmentation of operators and geographical imbalance of bikes. Following the Design Science Research approach, this work explores the integration of blockchain technologies (BCT) and more specifically two complementary artifacts. A decentralized physical infrastructure network (DePIN) aimed at facilitating the interoperability of VLS systems and a rebalancing proposal incorporating user-centric incentive mechanisms have been designed and evaluated by experts. Preliminary evaluations highlight that BCTs offer promising prospects, but their deployment is hampered by practical implementation difficulties.
    Abstract: Les systèmes de vélos en libre-service (VLS), bien que contribuant à la transition écologique, souffrent de coûts de gestion élevés et de frein à l'adoption des utilisateurs en raison de deux problèmes majeurs : la fragmentation des opérateurs et le déséquilibre géographique des VLS. En suivant l'approche de Design Science Research ce travail explore l'intégration des technologies blockchain (BCT) et plus particulièrement deux artefacts complémentaires. Un réseau décentralisé d'infrastructures physiques (DePIN) visant à faciliter l'interopérabilité des systèmes VLS et une proposition de rééquilibrage intégrant des mécanismes d'incitations centrés sur l'utilisateur ont été conçus et évalués par des experts. Les évaluations préliminaires soulignent que les BCT offrent des perspectives prometteuses, mais que leur déploiement est entravé par des difficultés pratiques de mise en oeuvre. Mots clés : vélos en libre-service ; blockchain ; mobilité urbaine ; design science research
    Keywords: bike sharing blockchain urban mobility design science research, bike sharing, blockchain, urban mobility, design science research
    Date: 2025–05–21
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-05084697
  16. By: Metcalfe, Hannah; Gardeazabal Monsalve, Andrea
    Abstract: The digital transformation of food, land, and water (FLW) systems holds potential for sustainability and resilience but remains hindered by fragmentation, infrastructure deficits, and governance gaps. Unlike fintech and healthcare, where structured digital adoption has flourished, FLW systems require multilateral collaborative partnerships to scale innovations effectively. This working paper examines five case studies from Latin America, Africa, and South Asia, highlighting how strategic partnerships—including those led by CGIAR, IICA, AGRA, and private sector actors— drive digital adoption. Findings reveal that successful collaboration hinges on two interdependent processes: a technical process for identifying digital solutions and an incentive process for aligning stakeholder interests. Trust-building, clear governance, and equitable participation emerge as key enablers. Lessons from fintech and healthcare emphasize the need for regulatory clarity, interoperable data frameworks, and inclusive financing models to scale digital transformation. Moving forward, addressing data sovereignty, power asymmetries, and financing constraints through structured partnerships will be essential for unlocking the full potential of digital innovation in FLW systems.
    Keywords: partnerships; digital innovation; agrifood systems; food systems; land; water; case studies; value chains; Mexico; Latin America; Africa; Southern Asia
    Date: 2024–12
    URL: https://d.repec.org/n?u=RePEc:fpr:cgiarp:172712
  17. By: Adeeth Cariappa, Ajjikuttira Girish; Khed, Vijayalaxmi; Singaraju, Niyati; Gartaula, Hom N.
    Abstract: This report examines the digital landscape in the Eastern Indian states of Bihar and Odisha, focusing on disparities in digital access, literacy, and technology utilization. Using gender-disaggregated data from 1, 034 households, the findings reveal significant gender, social, and regional inequities. Women, especially from marginalized communities, face reduced access to digital devices, limited operational skills, and low internet usage for agricultural needs. Key barriers include high device costs, limited digital literacy, and inadequate local-language content. Despite challenges, a strong demand for digital skills training emerges, particularly among women and younger populations. The current utilization of mobile internet primarily revolves around communication and entertainment, with minimal use for agriculture-related activities. The report underscores the necessity for tailored digital literacy programs, localized content, and affordable technology to bridge these divides. Addressing these gaps can enhance the adoption of digital tools, fostering inclusive growth and improved agricultural outcomes in the region.
    Keywords: technology; rural development; socioeconomic aspects; digital agriculture; India; Southern Asia
    Date: 2024–12–11
    URL: https://d.repec.org/n?u=RePEc:fpr:cgiarp:169888
  18. By: Ostrode, Nicholas
    Abstract: Design elements intended to influence the behavior of users are ubiquitous in smartphone apps. To date, there is no systematic framework that comprises the most common elements and their potential effects and risks to enable the analysis of behavioral design in smartphone apps. Building upon previous research, I compare different frameworks from research areas related to behavioral design. I collect and describe 91 common elements that are frequently used in smartphone apps in a synthesis framework that I call Behavioral Design Map. This framework is then exemplarily applied to analyze screenshots from six popular smartphone apps. I find that pre-existing frameworks are very heterogeneous in their scope, comprehensiveness and language. The perspective of the user and possible harmful side effects of certain legal elements are only sparsely covered. The analysis of smartphone apps using the Behavioral Design Map shows that the approach of the framework can be helpful in increasing the understanding of the application and effects of behavioral design in apps. Apps from entertainment categories appear to rely heavily on combinations of behavioral design elements based on reward mechanisms. Surprisingly, a fitness app designed for adopting a running routine applies behavioral design rather moderately.
    Abstract: Designelemente, die das Verhalten von Nutzern beeinflussen sollen, sind in Smartphone-Apps allgegenwärtig. Bislang gibt es kein systematisches Framework, das die häufigsten Elemente sowie ihre möglichen Effekte und Risiken umfasst und so die Analyse von Behavioral Design in Smartphone-Apps ermöglicht. In diesem Papier vergleiche ich verschiedene Frameworks aus Forschungsbereichen mit Bezug zu Behavioral Design. Ich sammle und beschreibe 91 bekannte Elemente, die häufig in Smartphone-Apps verwendet werden, in einem Framework, das ich als Behavioral Design Map bezeichne. Anschließend wird das Framework beispielhaft angewendet, um Screenshots aus sechs populären Smartphone-Apps zu analysieren. Die Ergebnisse deuten darauf hin, dass bestehende Frameworks hinsichtlich Umfang, Vollständigkeit und Terminologie sehr heterogen sind. Die Perspektive der Nutzenden und potenzielle schädliche Nebeneffekte bestimmter legaler Elemente werden nur wenig berücksichtigt. Die Analyse von Smartphone-Apps mit der Behavioral Design Map zeigt, dass der Ansatz des Frameworks dabei hilfreich sein kann, das Verständnis der Nutzung und der Effekte von Behavioral Design in Apps zu verbessern. Apps aus Unterhaltungskategorien scheinen intensiv Kombinationen von Behavioral Design-Elementen einzusetzen, die auf Belohnungsmechanismen basieren. Überraschenderweise verwendet eine Fitness-App, die für das Entwickeln einer Laufroutine designt wurde, Behavioral Design eher in moderatem Umfang.
    Keywords: Behavioral design, smartphone apps, framework, behavioral economics, persuasive technology
    JEL: D83 D91 L86 O33
    Date: 2025
    URL: https://d.repec.org/n?u=RePEc:zbw:rwirep:319081
  19. By: YANG, ZHANG (Department of Finance and Business Economics, Faculty of Business Administration / Asia-Pacific Academy of Economics and Management, University of Macau); JIANXIONG LIN (QIFU Technology, China); YIHE QIAN (Department of Finance and Business Economics, Faculty of Business Administration, University of Macau); LIANJIE SHU (Faculty of Business Administration , University of Macau)
    Abstract: MachiAs a key enabler of poverty alleviation and equitable growth, financial inclusion aims to expand access to credit and financial services for underserved individuals and small businesses. However, the elevated default risk and data scarcity in inclusive lending present major challenges to traditional credit assessment tools. This study evaluates whether machine learning (ML) techniques can improve default prediction for small-business loans, thereby enhancing the effectiveness and fairness of credit allocation. Using proprietary loan-level data from a city commercial bank in China, we compare eight classification models—Logistic Regression, Linear Discriminant Analysis (LDA), K-Nearest Neighbors (KNN), Support Vector Machine (SVM), Decision Tree, Random Forest, XGBoost, and LightGBM—under three sampling strategies to address class imbalance. Our findings reveal that undersampling significantly enhances model performance, and tree-based ML models, particularly XGBoost and Decision Tree, outperform traditional classifiers. Feature importance and misclassification analyses suggest that documentation completeness, demographic traits, and credit utilization are critical predictors of default. By combining robust empirical validation with model interpretability, this study contributes to the growing literature at the intersection of machine learning, credit risk, and financial development. Our findings offer actionable insights for policymakers, financial institutions, and data scientists working to build fairer and more effective credit systems in emerging markets.
    Keywords: machine learning, financial inclusion, small business, China, credit risk assessment
    JEL: G21 G32 C53 O16
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:boa:wpaper:202532
  20. By: Jalal Moustakim (FSJES - Faculty of Legal, Economic, and Social Sciences of Fes, USMBA - Université Sidi Mohamed Ben Abdellah [Fès]); Mohammed Baaddi (USMBA - Université Sidi Mohamed Ben Abdellah [Fès], FSJES - Faculty of Legal, Economic, and Social Sciences of Fes)
    Abstract: This study assesses the impact of digital literacy on employee well-being in the banking sector. Introducing the Digital Literacy Empowerment and Well-being Model (DLEW Model), with psychological empowerment and self-efficacy as mediating variables, and technostress and organizational support as moderators. This study synthesizes existing literature in digital literacy and employee well-being. Theories like Technology Acceptance Model (TAM), Social Cognitive Theory (SCT), and the Job Characteristics Model (JCM) are used. The DLEW Model is used to explain and facilitate the proposed relationships between variables. This model shows that digital literacy enhances employee well-being through a solid psychological empowerment and self-efficacy. Technostress, the stress people feel when using or adopting with new tech, is proposed as moderator variable, to moderate the relationship between digital literacy and psychological empowerment. A factor that might weaken the positive push that digital literacy gives to psychological empowerment. On the other hand, if employees feel the presence of their organizational support, it can be stronger the link between digital literacy and self-efficacy. So, in short, less stress and more support means better digital skill and well-being. Since The DLEW Model is still theoretical, it's important for future research to put it to the test in different types of organizations and industries. We need to know the validity of these propositions and its applicability across various workplace situations. Unlike existing literature, the study makes a unique contribution by proposing a comprehensive theoretical framework, the DLEW Model shows the crucial role of digital literacy in shaping employee well-being and performance. It provides groundwork for future empirical studies.
    Abstract: Cette étude évalue l'impact de la littératie numérique sur le bien-être des employés dans le secteur bancaire. Elle introduit le Modèle d'Autonomisation par la Littératie Numérique et le Bien-Être (Modèle DLEW), avec l'autonomisation psychologique et l'auto-efficacité comme variables médiatrices, et le technostress ainsi que le soutien organisationnel comme variables modératrices. Cette recherche synthétise la littérature existante sur la littératie numérique et le bien-être au travail. Des théories telles que le Modèle d'Acceptation de la Technologie (TAM), la Théorie Sociale Cognitive (SCT) et le Modèle des Caractéristiques du Travail (JCM) sont mobilisées. Le Modèle DLEW sert à expliquer et à illustrer les relations proposées entre les différentes variables. Ce modèle montre que la littératie numérique améliore le bien-être des employés grâce à une forte autonomisation psychologique et une auto-efficacité accrue. Le technostress, défini comme le stress ressenti lors de l'utilisation ou de l'adoption de nouvelles technologies, susceptible d'affaiblir la relation positive entre la littératie numérique et l'autonomisation psychologique. En revanche, le soutien organisationnel perçu par les employés peut renforcer le lien entre littératie numérique et auto-efficacité. En résumé, moins de stress et plus de soutien conduisent à de meilleures compétences numériques et à un bien-être accru. Étant donné que le Modèle DLEW reste pour l'instant théorique, il est essentiel que de futures recherches l'évaluent dans divers types d'organisations et de secteurs. Il s'agit de vérifier la validité de ces propositions et leur applicabilité dans différentes situations professionnelles. Contrairement à la littérature existante, cette étude apporte une contribution originale en proposant un cadre théorique complet. Le Modèle DLEW met en évidence le rôle crucial de la littératie numérique dans la construction du bien-être et de la performance des employés, et ouvre la voie à de futures recherches empiriques.
    Keywords: Digital Literacy, Electronic banking, Psychological Empowerment, Self-Efficacy, Employee Well-being, Technostress, Motivation
    Date: 2025–05–20
    URL: https://d.repec.org/n?u=RePEc:hal:journl:hal-05078258
  21. By: Arteaga, Javiera; Libertelli, Erica; Pueyrredón, Marcos; Trevisan, Pedro
    Abstract: El comercio electrónico ofrece grandes oportunidades para las pequeñas y medianas empresas (pymes) y las empresas lideradas por mujeres que buscan expandir sus mercados más allá de las fronteras nacionales. Eso se debe a que el comercio electrónico transfronterizo representa apenas una quinta parte del total de las transacciones de comercio electrónico en la región. Además, este segmento del electrónico transfronterizo crece a tasas superiores que su contraparte doméstica. Este documento revisa las distintas etapas por las que debe transitar una empresa para acceder al comercio electrónico transfronterizo. Las pymes que incursionan en el comercio electrónico transfronterizo deben superar desafíos en digitalización, financiamiento y conocimiento del mercado de exportación. Las mujeres empresarias enfrentan barreras adicionales como el acceso limitado a financiamiento, redes de apoyo y tecnología, además de la falta de modelos de liderazgo femeninos, lo que dificulta su éxito en este ámbito. Para impulsar el comercio electrónico transfronterizo, es clave usar plataformas (marketplaces) como Amazon, Alibaba o eBay, que facilitan el acceso a mercados internacionales. La transformación digital, que incluye la creación de tiendas en línea y la optimización de la logística y los pagos, es esencial. La capacitación continua y el marketing digital mejoran la visibilidad global, mientras que conocer las preferencias culturales y hábitos de compra del mercado objetivo asegura una estrategia efectiva. Al adoptar estas prácticas, las pymes y negocios liderados por mujeres pueden aumentar sus ventas internacionales, diversificar riesgos y competir en un entorno global en constante digitalización, garantizando así un crecimiento sostenible y exitoso.
    Date: 2025–06–03
    URL: https://d.repec.org/n?u=RePEc:ecr:col025:81644
  22. By: Buehler, Stefan (University of St. Gallen - SEPS: Economics and Political Sciences); Chen, Rachel R. (University of California, Davis - Graduate School of Management); Halbheer, Daniel (HEC Paris); Zeng, Helen S. (University of California, Davis - Graduate School of Management)
    Abstract: Platforms have radically transformed many markets. Initially perceived as the harbinger of a new economy, platforms today can no longer ignore their impact on the triple bottom line of profit, planet, and people, as their adverse effects on the environment (e.g., massive energy consumption and carbon emissions) and society (e.g., misinformation, hate speech, discrimination, degradation of mental health, and privacy violations) become increasingly evident. As a result, consumers, regulators, and even business leaders demand greater transparency along the environmental (E), social (S), and governance (G) pillars of a platform’s activities. This chapter first introduces a simple economic framework to organize the literature on ESG in platform markets. It then discusses key papers and points out avenues for future research.
    Keywords: ESG pillars; Triple bottom line; Sustainability; Regulation
    JEL: Q56
    Date: 2025–02–25
    URL: https://d.repec.org/n?u=RePEc:ebg:heccah:1550
  23. By: Haochuan (Kevin); Wang
    Abstract: Cryptocurrency price dynamics are driven largely by microstructural supply demand imbalances in the limit order book (LOB), yet the highly noisy nature of LOB data complicates the signal extraction process. Prior research has demonstrated that deep-learning architectures can yield promising predictive performance on pre-processed equity and futures LOB data, but they often treat model complexity as an unqualified virtue. In this paper, we aim to examine whether adding extra hidden layers or parameters to "blackbox ish" neural networks genuinely enhances short term price forecasting, or if gains are primarily attributable to data preprocessing and feature engineering. We benchmark a spectrum of models from interpretable baselines, logistic regression, XGBoost to deep architectures (DeepLOB, Conv1D+LSTM) on BTC/USDT LOB snapshots sampled at 100 ms to multi second intervals using publicly available Bybit data. We introduce two data filtering pipelines (Kalman, Savitzky Golay) and evaluate both binary (up/down) and ternary (up/flat/down) labeling schemes. Our analysis compares models on out of sample accuracy, latency, and robustness to noise. Results reveal that, with data preprocessing and hyperparameter tuning, simpler models can match and even exceed the performance of more complex networks, offering faster inference and greater interpretability.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.05764
  24. By: Sergio Correia; Stephan Luck; Emil Verner
    Abstract: Why do banks fail? We create a panel covering most commercial banks from 1863 through 2024 to study the history of failing banks in the United States. Failing banks are characterized by rising asset losses, deteriorating solvency, and an increasing reliance on expensive noncore funding. These commonalities imply that bank failures are highly predictable using simple accounting metrics from publicly available financial statements. Failures with runs were common before deposit insurance, but these failures are strongly related to weak fundamentals, casting doubt on the importance of non-fundamental runs. Furthermore, low recovery rates on failed banks' assets suggest that most failed banks were fundamentally insolvent, barring strong assumptions about the value destruction of receiverships. Altogether, our evidence suggests that the primary cause of bank failures and banking crises is almost always and everywhere a deterioration of bank fundamentals.
    Date: 2025–06
    URL: https://d.repec.org/n?u=RePEc:arx:papers:2506.06082

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