This paper examines the determinants of Central Bank Digital Currency (CBDC) wallet usage and evaluates the impact of a retail CBDC pilot implemented by the Central Reserve Bank of Peru (BCRP) in regions with low levels of financial inclusion. As of August 2025, the pilot reached approximately...

Researchers typically collect experimental data sequentially, allowing early outcome observations and adaptive treatment assignment to reduce exposure to inferior treatments. This article reviews multi-armed-bandit adaptive experimental designs that balance exploration and exploitation. Because...

Researchers typically collect experimental data sequentially, allowing early outcome observations and adaptive treatment assignment to reduce exposure to inferior treatments. This article reviews multiarmed-bandit adaptive experimental designs that balance exploration and exploitation. Because...

Researchers typically collect experimental data sequentially, allowing early outcome observations and adaptive treatment assignment to reduce exposure to inferior treatments. This article reviews multi-armed-bandit adaptive experimental designs that balance exploration and exploitation. Because...