Cost of Cash: Evidence from Cashiers

Published Online:https://doi.org/10.1287/serv.2021.0272

References

  • Acemoglu D, Restrepo P (2019) Automation and new tasks: how technology displaces and reinstates labor. J. Econom. Perspect. 33(2):3–30.CrossrefGoogle Scholar
  • Agarwal S, Basu D, Ghosh P, Pareek B, Zhang J (2018) Demonetization and digitization. Preprint, updated December 24, https://dx.doi.org/10.2139/ssrn.3197990.Google Scholar
  • Amaya-Amaya M, Gerard K, Ryan M (2007) Discrete choice experiments in a nutshell. Ryan M, Gerard K, Amaya-Amaya M, eds. Using Discrete Choice Experiments to Value Health and Healthcare (Springer, Dordrecht, Netherlands), 13–46.Google Scholar
  • Autor DH, Dorn D (2013) The growth of low-skill service jobs and the polarization of the US labor market. Amer. Econom. Rev. 103(5):1553–1597.CrossrefGoogle Scholar
  • Basker E, Foster L, Klimek S (2017) Customer-employee substitution: Evidence from gasoline stations. J. Econom. Management Strategy 26(4):876–896.CrossrefGoogle Scholar
  • Bolger N, Schilling EA (1991) Personality and the problems of everyday life: The role of neuroticism in exposure and reactivity to daily stressors. J. Personality 59(3):355–386.CrossrefGoogle Scholar
  • Bostic R, Herrnstein RJ, Luce RD (1990) The effect on the preference-reversal phenomenon of using choice indifferences. J. Econom. Behav. Organ. 13(2):193–212.CrossrefGoogle Scholar
  • Brown SP, Lam SK (2008) A meta-analysis of relationships linking employee satisfaction to customer responses. J. Retailing 84(3):243–255.CrossrefGoogle Scholar
  • Buell RW (2018) The parts of customer service that should never be automated. Harvard Bus. Rev. Accessed November 17, 2020, https://hbr.org/2018/02/the-parts-of-customer-service-that-should-never-be-automated. Google Scholar
  • Buell RW, Campbell D, Frei FX (2010) Are self-service customers satisfied or stuck? Production Oper. Management 19(6):679–697.CrossrefGoogle Scholar
  • Camerer CF, Hogarth RM (1999) The effects of financial incentives in experiments: A review and capital-labor-production framework. J. Risk Uncertain. 19(1-3):7–42.CrossrefGoogle Scholar
  • Cameron AC, Gelbach JB, Miller DL (2008) Bootstrap-based improvements for inference with clustered errors. Rev. Econom. Statist. 90(3):414–427.CrossrefGoogle Scholar
  • Castaldo R, Montesinos L, Melillo P, James C, Pecchia L (2019) Ultra-short term hrv features as surrogates of short term hrv: a case study on mental stress detection in real life. BMC Medical Inform. Decision Making 19(12):1–13.Google Scholar
  • Cettolin E, Dalton PS, Kop W, Zhang W (2019) Cortisol meets GARP: the effect of stress on economic rationality. Experiment. Econom. 23:554–574.CrossrefGoogle Scholar
  • Chen CX, Sandino T (2012) Can wages buy honesty? The relationship between relative wages and employee theft. J. Accounting Res. 50(4):967–1000.CrossrefGoogle Scholar
  • Chen H, Huynh KP, Shy O (2019) Cash vs. card: payment discontinuities and the burden of holding coins. J. Banking Finance 99:192–201.CrossrefGoogle Scholar
  • Clark TS, Linzer DA (2015) Should I use fixed or random effects? Political Sci. Res. Methods 3(2):399–408.CrossrefGoogle Scholar
  • Correia S, Paulo G, Tom Z (2020) Fast poisson estimation with high-dimensional fixed effects. Stata J. 20(1):95–115.CrossrefGoogle Scholar
  • Dulleck U, Schaffner M, Torgler B (2014) Heartbeat and economic decisions: observing mental stress among proposers and responders in the ultimatum bargaining game. PLoS One 9(9):e108218.CrossrefGoogle Scholar
  • Dulleck U, Fooken J, Newton C, Ristl A, Schaffner M, Torgler B (2016) Tax compliance and psychic costs: behavioral experimental evidence using a physiological marker. J. Public Econom. 134:9–18.CrossrefGoogle Scholar
  • Eriksson T, Kristensen N (2014) Wages or fringes? Some evidence on trade-offs and sorting. J. Labor Econom. 32(4):899–928.CrossrefGoogle Scholar
  • Esselink H, Hernandez L (2017) The use of cash by households in the Euro area. Occasional Paper 201, European Central Bank, Frankfurt am Main, Germany.Google Scholar
  • European Central Bank (2020) Study on the payment attitudes of consumers in the euro area (SPACE). Report, European Central Bank, Frankfurt am Main, Germany.Google Scholar
  • Falk A, Kosse F, Menrath I, Verde PE, Siegrist J (2018) Unfair pay and health. Management Sci. 64(4):1477–1488.LinkGoogle Scholar
  • Fisher M, Gallino S, Netessine S (2020a) Does online training work in retail? Manufacturing Service Oper. Management, ePub ahead of print October 16, https://doi.org/10.1287/msom.2020.0906.LinkGoogle Scholar
  • Fisher M, Gallino S, Netessine S (2020b) Setting retail staffing levels: A methodology validated with implementation. Manufacturing Service Oper. Management, ePub ahead of print October 7, https://doi.org/10.1287/msom.2020.0917.LinkGoogle Scholar
  • French MT, Dunlap LJ (1998) Compensating wage differentials for job stress. Appl. Econom. 30(8):1067–1075.CrossrefGoogle Scholar
  • Fung B, Huynh KB, Kosse A (2017) Acceptance and use of payments at the point of sale in Canada. Bank of Canada Review 14–26.Google Scholar
  • Gneezy U, Rustichini A (2000) Pay enough or don’t pay at all. Quart. J. Econom. 115(3):791–810.CrossrefGoogle Scholar
  • Goette L, Bendahan S, Thoresen J, Hollis F, Sandi C (2015) Stress pulls us apart: Anxiety leads to differences in competitive confidence under stress. Psychoneuroendocrinology 54:115–123.CrossrefGoogle Scholar
  • Goh J, Pfeffer J, Zenios SA (2016) The relationship between workplace stressors and mortality and health costs in the united states. Management Sci. 62(2):608–628.LinkGoogle Scholar
  • Goh J, Pfeffer J, Zenios SA (2019) Reducing the health toll from U.S. workplace stress. Behav. Sci. Policy 5(1):1–13.CrossrefGoogle Scholar
  • Groot W, Van Den Brink HM (1999) The price of stress. J. Econom. Psych. 20(1):83–103.CrossrefGoogle Scholar
  • Halko ML, Sääksvuori L (2017) Competitive behavior, stress, and gender. J. Econom. Behav. Organ. 141:96–109.CrossrefGoogle Scholar
  • Hayashi F, Keeton WR (2012) Measuring the costs of retail payment methods. Economic Review – Federal Reserve Bank of Kansas City, Kansas City, Missouri, 37–77.Google Scholar
  • Heskett JL, Jones TO, Loveman GW, Sasser WE, Schlesinger LA (1994) Putting the service-profit chain to work. Harvard Bus. Rev. 72(2):164–174.Google Scholar
  • Hogreve J, Iseke A, Derfuss K, Eller T (2017) The service-profit chain: A metaanalytic test of a comprehensive theoretical framework. J. Marketing 81(3):41–61.CrossrefGoogle Scholar
  • Holt CA, Laury SK (2002) Risk aversion and incentive effects. Amer. Econom. Rev. 92(5):1644–1655.CrossrefGoogle Scholar
  • Jarczok MN, Jarczok M, Mauss D, Koenig J, Thayer JF (2013) Autonomic nervous system activity and workplace stressors – a systematic review. Neurosci. Biobehav. Rev. 37:1810–1823.CrossrefGoogle Scholar
  • John OP, Srivastava S (1999) The big five trait taxonomy: history, measurement, and theoretical perspectives. Pervin LA, John OP, eds. Handbook of Personality: Theory and Research, vol. 2, (Guilford Press, New York), 102–138.Google Scholar
  • Karasek RAJ (1979) Job demands, job decision latitude, and mental strain: Implications for job redesign. Admin. Sci. Quart. 24(2):285–308.CrossrefGoogle Scholar
  • Kendler KS, Kuhn J, Prescott CA (2004) The interrelationship of neuroticism, sex, and stressful life events in the prediction of episodes of major depression. Amer. J. Psychiatry 161(4): 631–636.CrossrefGoogle Scholar
  • Kesavan S, Staats BR, Gilland W (2014) Volume flexibility in services: The costs and benefits of flexible labor resources. Management Sci. 60(8):1884–1906.LinkGoogle Scholar
  • Kezdi G (2004) Robust standard error estimation in fixed-effects panel models. Hungarian Statist. Rev. 9(Special):95–116.Google Scholar
  • Kim K, Kumar R, O’Brien S (2020) Consumer payments and the covid-19 pandemic: A supplement to the 2020 findings from the diary of consumer payment choice. FedNotes, Federal Reserve Bank of San Francisco.Google Scholar
  • KosseA, Chen H, Felt MH, Jiongo VD, Nield K, Welte A (2017) The costs of point-of-sale payments in Canada. Bank of Canada Staff Discussion Paper 2017-4, Bank of Canada, Ottawa, Ontario, Canada.Google Scholar
  • Kumar R, O’Brien S (2019) 2019 Findings from the Diary of Consumer Payment Choice. U.S. Federal Reserve System (Cash Product Office, Federal Reserve Bank of San Francisco, San Francisco, CA).Google Scholar
  • Mani V, Kesavan S, Swaminathan JM (2015) Estimating the impact of understaffing on sales and profitability in retail stores. Production Oper. Management 24(2):201–218.CrossrefGoogle Scholar
  • Mas A, Pallais A (2017) Valuing alternative work arrangements. Amer. Econom. Rev. 107(12):3722–3759.CrossrefGoogle Scholar
  • McFadden D (1986) The choice theory approach to market research. Marketing Sci. 5(4):275–297.LinkGoogle Scholar
  • McFadden D, Train K (2000) Mixed mnl models for discrete response. J. Appl. Econometrics 15(5):447–470.CrossrefGoogle Scholar
  • Musalem A, Olivares M, Schilkrut A (2020) Retail in high definition: Monitoring customer assistance through video analytics. Manufacturing Service Oper. Management, ePub ahead of print March 30, https://doi.org/10.1287/msom.2020.0865.LinkGoogle Scholar
  • O*NET (2020) Occupational information network. Accessed November, 17, 2020, https://www.onetonline.org/link/summary/41-2011.00.Google Scholar
  • Ong P, Png I (2020) Automation, job quality, and labor supply: Empirical evidence. Working Paper, National University of Singapore, Singapore.Google Scholar
  • Payne SC, Webber SS (2006) Effects of service provider attitudes and employment status on citizenship behaviors and customers’ attitudes and loyalty behavior. J. Appl. Psych. 91(2):365–378.CrossrefGoogle Scholar
  • Perdikaki O, Kesavan S, Swaminathan JM (2012) Effect of traffic on sales and conversion rates of retail stores. Manufacturing Service Oper. Management 14(1):145–162.LinkGoogle Scholar
  • Png I, Tan CH (2020) Privacy, trust in banks, and use of cash. Macroeconomic Rev. XIX(1):109–116 (Monetary Authority of Singapore).CrossrefGoogle Scholar
  • Raghubir P, Srivastava J (2008) Monopoly money: The effect of payment coupling and form on spending behavior. J. Experiment Psych. Appl. 14(3):213–225.CrossrefGoogle Scholar
  • Rosen S (1986) The theory of equalizing differences. Ashenfelter OC, Layard R, eds. Handbook of Labor Economics, vol. 1, (Elsevier, Amsterdam), 641–692.CrossrefGoogle Scholar
  • Siegrist J (1996) Adverse health effects of high-effort/low-reward conditions. J. Occup. Health Psych. 1(1):27–41.CrossrefGoogle Scholar
  • Soman D (2001) Effects of payment mechanism on spending behavior: The role of rehearsal and immediacy of payments. J. Consumer Res. 27(4):460–474.CrossrefGoogle Scholar
  • Stewart C, Chan I, Ossolinski C, Halperin D, Ryan P (2014) The evolution of payment costs in Australia. Reserve Bank of Australia Research Discussion Paper RDP 2014-14., Payments Policy Department, Reserve Bank of Australia, Sydney, Australia.Google Scholar
  • Tams S (2017) A refined examination of worker age and stress: explaining how, and why, older workers are especially techno-stressed in the Interruption Age. Davis FD, Riedl R, vom Brocke J, Leger PM, Randolph AB, eds. Inform. Systems Neuroscience (Springer, Cham, Switzerland) 175–183.CrossrefGoogle Scholar
  • Tan TF, Netessine S (2014) When does the devil make work? An empirical study of the impact of workload on worker productivity. Management Sci. 60(6):1574–1593.LinkGoogle Scholar
  • Tan TF, Netessine S (2020) At your service on the table: Impact of tabletop technology on restaurant performance. Management Sci. 66(10):4496–4515.LinkGoogle Scholar
  • Task Force of the European Society of Cardiology and the North American Society of Pacing and Electrophysiology (1996) Heart rate variability: Standards of measurement, physiological interpretation and clinical use. Circulation 93(5):1043–1065.Google Scholar
  • Thaler R, Rosen S (1976) The value of saving a life: evidence from the labor market. Terleckyj NE, ed. Household Production and Consumption. (National Bureau of Economic Research, New York), 265–302.Google Scholar
  • Ton Z (2014) The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost Profits. (Houghton Mifflin Harcourt, Boston, MA).Google Scholar
  • Ton Z (2017) The case for good jobs. Harvard Bus. Rev. Accessed November 17, 2020, https://hbr.org/2017/11/the-case-for-good-jobs#.Google Scholar
  • Ton Z, Huckman RS (2008) Managing the impact of employee turnover on performance: The role of process conformance. Organ. Sci. 19(1):56–68.LinkGoogle Scholar
  • Umetani K, Singer DH, McCraty R, Atkinson M (1998) Twenty-four hour time domain heart rate variability and heart rate: relations to age and gender over nine decades. J. Amer. College Cardiology 31(3):593–601.CrossrefGoogle Scholar
  • U.S. Bureau of Labor Statistics (2017) Occupational employment statistics. Accessed November 17, 2020, https://www.bls.gov/oes/2017/may/oes412011.htm.Google Scholar
  • U.S. Bureau of Labor Statistics (2020) Occupational Outlook Handbook. Accessed November 17, 2020, https://www.bls.gov/ooh/sales/cashiers.htm.Google Scholar
  • van der Rest JPI, Cordella P, Loosschilder G, Schwartz Z (2016) Connecting search marketing to hotel revenue management: conjoint analysis as a methodology to evaluate the optimal online travel agency commission fee. Service Sci. 8(2):169–183.LinkGoogle Scholar
  • Vanthomme S (2020) 12 Global Payment Statistics Impacting Small & Mid-size Businesses. Accessed February 18, 2020, https://www.ccv.eu/2020/12-global-payment-statistics-impacting-small-mid-size-businesses/.Google Scholar
  • Wakamori N, Welte A (2017) Why do shoppers use cash? Evidence from shopping diary data. J. Money Credit Bank. 49(1):115–169.CrossrefGoogle Scholar
  • Wang J, Zhou YP (2018) Impact of queue configuration on service time: evidence from a supermarket. Management Sci. 64(7):3055–3075.LinkGoogle Scholar
  • Wiswall M, Zafar B (2018) Preference for the workplace, investment in human capital, and gender. Quart. J. Econom. 133(1):457–507.CrossrefGoogle Scholar
  • Wooldridge JM (2010) Econometric Analysis of Cross Section and Panel Data, 2nd ed. (MIT Press, Cambridge, MA).Google Scholar
  • Xu X, Chen R, Jiang L (2019) The influence of payment mechanisms on pricing: when mental imagery stimulates desire for money. J. Retailing 96 (2):178–188.CrossrefGoogle Scholar
  • Yaldiz LM, Truxillo DM, Bodner T, Hammer LB (2018) Do resources matter for employee stress? It depends on how old you are. J. Vocational Behav. 107:182–194.CrossrefGoogle Scholar
  • Zhong S, Shalev I, Koh D, Ebstein RP, Chew SH (2018) Competitiveness and stress. Internat. Econom. Rev. 59(3):1263–1281.CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.