Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers

Abstract

This paper uses the theory called Difference Assessment Account to hypothesize on Euro introduction effects on Lithuanian and Latvian consumers’ behavior. Difference Assessment Account itself describes how consumers perceive value of transactions when nominal value of currency is varied, and how this perception affects their economic decisions. The paper explains Difference Assessment Account and tests this theory with an experiment, which’s participants are Lithuanian and Latvian consumers. The results of the experiment serve as a basis for the discussion of the assumptions on Euro introduction effects on Lithuanian and Latvian consumers.

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