{"id":"https://openalex.org/W2068018652","doi":"https://doi.org/10.1257/aer.103.3.369","title":"The Home Economics of E-Money: Velocity, Cash Management, and Discount Rates of M-Pesa Users","display_name":"The Home Economics of E-Money: Velocity, Cash Management, and Discount Rates of M-Pesa Users","publication_year":2013,"publication_date":"2013-05-01","ids":{"openalex":"https://openalex.org/W2068018652","doi":"https://doi.org/10.1257/aer.103.3.369","mag":"2068018652","pmid":"https://pubmed.ncbi.nlm.nih.gov/25067843","pmcid":"https://www.ncbi.nlm.nih.gov/pmc/articles/4108169"},"language":"en","primary_location":{"id":"doi:10.1257/aer.103.3.369","doi":"https://doi.org/10.1257/aer.103.3.369","is_oa":false,"landing_page_url":"https://doi.org/10.1257/aer.103.3.369","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","pubmed"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/4108169","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5038283229","display_name":"Isaac Mbiti","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I178169726","display_name":"Southern Methodist University","ror":"https://ror.org/042tdr378","country_code":"US","type":"education","lineage":["https://openalex.org/I178169726"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Isaac Mbiti","raw_affiliation_strings":["Department of Economics, Southern Methodist University, 3300 Dyer St. Suite 301, Dallas, TX 75275"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, Southern Methodist University, 3300 Dyer St. Suite 301, Dallas, TX 75275","institution_ids":["https://openalex.org/I178169726"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5018872515","display_name":"David Nathan Weil","orcid":"https://orcid.org/0000-0002-1092-6056","observed_orcids":["https://orcid.org/0000-0002-1092-6056"]},"institutions":[{"id":"https://openalex.org/I27804330","display_name":"Brown University","ror":"https://ror.org/05gq02987","country_code":"US","type":"education","lineage":["https://openalex.org/I27804330"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"David N Weil","raw_affiliation_strings":["Brown University, Box B, Providence, RI 02912","Brown University, BoxB, Providence, RI 02912 ( David_Weil@Brown.edu )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Brown University, Box B, Providence, RI 02912","institution_ids":["https://openalex.org/I27804330"]},{"raw_affiliation_string":"Brown University, BoxB, Providence, RI 02912 ( David_Weil@Brown.edu )","institution_ids":["https://openalex.org/I27804330"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":6.2402,"has_fulltext":false,"cited_by_count":93,"citation_normalized_percentile":{"value":0.95871831,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"103","issue":"3","first_page":"369","last_page":"374"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10987","display_name":"Microfinance and Financial Inclusion","score":0.7592999935150146,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10987","display_name":"Microfinance and Financial Inclusion","score":0.7592999935150146,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.055799998342990875,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.03720000013709068,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/m-pesa","display_name":"M-Pesa","score":0.8809999823570251},{"id":"https://openalex.org/keywords/electronic-money","display_name":"electronic money","score":0.7789999842643738},{"id":"https://openalex.org/keywords/mobile-money","display_name":"mobile money","score":0.7900000214576721},{"id":"https://openalex.org/keywords/velocity-of-money","display_name":"velocity of money","score":0.7310000061988831},{"id":"https://openalex.org/keywords/cash-management","display_name":"cash management","score":0.9629999995231628},{"id":"https://openalex.org/keywords/implicit-discount-rates","display_name":"implicit discount rates","score":0.8069999814033508},{"id":"https://openalex.org/keywords/money-transfer","display_name":"money transfer","score":0.6159999966621399},{"id":"https://openalex.org/keywords/frequent-users","display_name":"frequent users","score":0.6690000295639038},{"id":"https://openalex.org/keywords/kenya","display_name":"Kenya","score":0.3569999933242798}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6208755373954773},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.5989558696746826},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5181878209114075},{"id":"https://openalex.org/C130625013","wikidata":"https://www.wikidata.org/wiki/Q1323540","display_name":"Velocity of money","level":4,"score":0.516584038734436},{"id":"https://openalex.org/C122637931","wikidata":"https://www.wikidata.org/wiki/Q118084","display_name":"Unit (ring theory)","level":2,"score":0.48855099081993103},{"id":"https://openalex.org/C2777421447","wikidata":"https://www.wikidata.org/wiki/Q17517","display_name":"Mobile phone","level":2,"score":0.4534376859664917},{"id":"https://openalex.org/C2778707766","wikidata":"https://www.wikidata.org/wiki/Q202064","display_name":"Phone","level":2,"score":0.4251033663749695},{"id":"https://openalex.org/C122941539","wikidata":"https://www.wikidata.org/wiki/Q10836209","display_name":"Electronic money","level":3,"score":0.41368648409843445},{"id":"https://openalex.org/C54750564","wikidata":"https://www.wikidata.org/wiki/Q26643","display_name":"Commerce","level":1,"score":0.3579641580581665},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.35180240869522095},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3248535990715027},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.26639309525489807},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.15762296319007874},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.14458727836608887},{"id":"https://openalex.org/C84666643","wikidata":"https://www.wikidata.org/wiki/Q3725134","display_name":"Endogenous money","level":3,"score":0.14408141374588013},{"id":"https://openalex.org/C76155785","wikidata":"https://www.wikidata.org/wiki/Q418","display_name":"Telecommunications","level":1,"score":0.13034486770629883},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.09787297248840332},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.07862403988838196},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C145420912","wikidata":"https://www.wikidata.org/wiki/Q853077","display_name":"Mathematics education","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1257/aer.103.3.369","doi":"https://doi.org/10.1257/aer.103.3.369","is_oa":false,"landing_page_url":"https://doi.org/10.1257/aer.103.3.369","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},{"id":"pmid:25067843","doi":null,"is_oa":false,"landing_page_url":"https://pubmed.ncbi.nlm.nih.gov/25067843","pdf_url":null,"source":{"id":"https://openalex.org/S4306525036","display_name":"PubMed","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The American economic review","raw_type":"Journal Article"},{"id":"pmh:oai:europepmc.org:3076930","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/4108169","pdf_url":null,"source":{"id":"https://openalex.org/S4306400806","display_name":"Europe PMC (PubMed Central)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1303153112","host_organization_name":"European Bioinformatics Institute","host_organization_lineage":["https://openalex.org/I1303153112"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Text"},{"id":"pmh:oai:pubmedcentral.nih.gov:4108169","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/4108169","pdf_url":null,"source":{"id":"https://openalex.org/S2764455111","display_name":"PubMed Central","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"Am Econ Rev","raw_type":"Text"},{"id":"pmh:oai:RePEc:aea:aecrev:v:103:y:2013:i:3:p:369-74","doi":null,"is_oa":false,"landing_page_url":"http://www.aeaweb.org/articles.php?doi=10.1257/aer.103.3.369","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:oai:europepmc.org:3076930","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/4108169","pdf_url":null,"source":{"id":"https://openalex.org/S4306400806","display_name":"Europe PMC (PubMed Central)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1303153112","host_organization_name":"European Bioinformatics Institute","host_organization_lineage":["https://openalex.org/I1303153112"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"Text"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.4699999988079071,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[{"id":"https://openalex.org/G6377172659","display_name":"R24 Population Center Grant","funder_award_id":"R24HD041020","funder_id":"https://openalex.org/F4320337611","funder_display_name":"Eunice Kennedy Shriver National Institute of Child Health and Human Development"}],"funders":[{"id":"https://openalex.org/F4320337611","display_name":"Eunice Kennedy Shriver National Institute of Child Health and Human Development","ror":"https://ror.org/04byxyr05"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":9,"referenced_works":["https://openalex.org/W1520534012","https://openalex.org/W2028605648","https://openalex.org/W2102441157","https://openalex.org/W2117956034","https://openalex.org/W3005065088","https://openalex.org/W3121436192","https://openalex.org/W3122219528","https://openalex.org/W3124407048","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W1520534012","https://openalex.org/W2117956034","https://openalex.org/W3139233444","https://openalex.org/W2521382444","https://openalex.org/W2241323857","https://openalex.org/W1551551675","https://openalex.org/W2369519353","https://openalex.org/W2979923156","https://openalex.org/W2164178935","https://openalex.org/W3124407048"],"abstract_inverted_index":{"We":[0],"study":[1],"the":[2,17,36,81],"mobile":[3],"phone-based":[4],"money":[5],"transfer":[6],"system":[7],"in":[8,80],"Kenya.":[9],"Based":[10],"on":[11,66],"aggregate":[12],"data,":[13],"we":[14],"estimate":[15],"that":[16,35,85],"velocity":[18],"with":[19],"which":[20],"units":[21],"of":[22,39,45,64,72],"e-money":[23,46],"are":[24,58],"transferred":[25],"among":[26],"users":[27,87],"is":[28,52],"approximately":[29,53],"four":[30],"times":[31],"per":[32],"month,":[33],"and":[34,50,75],"average":[37],"number":[38],"transfers":[40],"undergone":[41],"by":[42,60],"a":[43,69],"unit":[44],"between":[47],"its":[48],"creation":[49],"destruction":[51],"one.":[54],"Most":[55],"M-Pesa":[56],"transactions":[57],"made":[59],"frequent":[61],"users.":[62],"Examination":[63],"data":[65],"withdrawals":[67,74],"shows":[68],"high":[70,91],"frequency":[71],"small":[73],"no":[76],"response":[77],"to":[78,89],"\u201cnotches\u201d":[79],"price":[82],"schedule,":[83],"indicating":[84],"many":[86],"seem":[88],"have":[90],"implicit":[92],"discount":[93],"rates.":[94]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":13},{"year":2024,"cited_by_count":9},{"year":2023,"cited_by_count":6},{"year":2022,"cited_by_count":16},{"year":2021,"cited_by_count":8},{"year":2020,"cited_by_count":10},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":8},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}