Strategic Uncertainty and the Power of Extrinsic Signals – Evidence from an Experimental Study of Bank Runs

2019 ◽  
Author(s):  
Jasmina Arifovic ◽  
Janet Jiang
Keyword(s):  
Experimental Study ◽  
Bank Runs ◽  
Strategic Uncertainty

scholarly journals On the Effects of Deposit Insurance and Observability on Bank Runs: An Experimental Study

2012 ◽  
Vol 44 (8) ◽  
pp. 1651-1665 ◽  
Author(s):  
HUBERT JANOS KISS ◽  
ISMAEL RODRIGUEZ-LARA ◽  
ALFONSO ROSA-GARCÍA
Keyword(s):  
Experimental Study ◽  
Deposit Insurance ◽  
Bank Runs

On the dynamics and severity of bank runs: An experimental study

2009 ◽  
Vol 18 (2) ◽  
pp. 217-241 ◽  
Author(s):  
Andrew Schotter ◽  
Tanju Yorulmazer
Keyword(s):  
Experimental Study ◽  
Bank Runs

scholarly journals Does response time predict withdrawal decisions? Lessons from a bank-run experiment

2019 ◽  
Vol 12 (3) ◽  
pp. 200-222
Author(s):  
Hubert Janos Kiss ◽  
Ismael Rodriguez-Lara ◽  
Alfonso Rosa-Garcia
Keyword(s):  
Response Time ◽  
Laboratory Experiment ◽  
Information Structure ◽  
Real Life ◽  
Bank Runs ◽  
Strategic Uncertainty ◽  
Content Type ◽  
Bank Run ◽  
Optimal Decisions ◽  
Information Sets

Purpose The purpose of this paper is to analyze how response time in a laboratory experiment on bank runs affects withdrawal decisions. Design/methodology/approach In the authors’ setup, the bank has no fundamental problems, depositors decide sequentially whether to keep the money in the bank or to withdraw, and they may observe previous decisions depending on the information structure. The authors consider two levels of difficulty of decision-making conditional on the presence of strategic dominance and strategic uncertainty. The authors hypothesize that the more difficult the decision, the longer is the response time, and the predictive power of response time depends on difficulty. Findings The authors find that response time is longer in information sets with strategic uncertainty compared to those without (as expected), but the authors do not find such relationship when considering strategic dominance (contrary to the hypothesis). Response time correlates negatively with optimal decisions in information sets with a dominant strategy (contrary to the expectation) and also when decisions are obvious in the absence of strategic uncertainty (in line with the hypothesis). When there is strategic uncertainty, the authors find suggestive evidence that response time predicts optimal decisions. Research limitations/implications Being a laboratory experiment, it is questionable if depositors in real life behave similarly (external validity). Practical implications Since episodes of bank runs are characterized by strategic uncertainty, the result that under strategic uncertainty, longer response time leads to better decisions suggests that suspension of convertibility is a useful tool to curb banking panics. Originality/value To the best of authors’ knowledge, this is the first study concerning the relationship between response time and the optimality of decisions in a bank-run game.

Experimental study on the restoration from a tilt-azimuth series for improvement in resolution

1995 ◽  
Vol 53 ◽  
pp. 636-637
Author(s):  
Norio Baba ◽  
Norihiko Ichise ◽  
Syunya Watanabe
Keyword(s):  
Experimental Study ◽  
Spherical Aberration ◽  
Incident Beam ◽  
Optical Parameters ◽  
Beam Tilting ◽  
Illumination Method ◽  
Restoration Method ◽  
Illumination Mode

The tilted beam illumination method is used to improve the resolution comparing with the axial illumination mode. Using this advantage, a restoration method of several tilted beam images covering the full azimuthal range was proposed by Saxton, and experimentally examined. To make this technique more reliable it seems that some practical problems still remain. In this report the restoration was attempted and the problems were considered. In our study, four problems were pointed out for the experiment of the restoration. (1) Accurate beam tilt adjustment to fit the incident beam to the coma-free axis for the symmetrical beam tilting over the full azimuthal range. (2) Accurate measurements of the optical parameters which are necessary to design the restoration filter. Even if the spherical aberration coefficient Cs is known with accuracy and the axial astigmatism is sufficiently compensated, at least the defocus value must be measured. (3) Accurate alignment of the tilt-azimuth series images.

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