Running Out of Bank Runs
构建了一个博弈模型，允许存款人根据他人行为改变取款决定，发现这种灵活性有助于隐性协调，从而在某些情况下降低自我实现的银行挤兑发生的概率。
Abstract The theoretical literature on bank runs has modeled depositors’ withdrawal decision as a one-off choice, made simultaneously by all depositors. Our game-theoretic framework gives depositors a heterogeneous, stochastic opportunity to change their minds about withdrawing their money. They can run out of (or run into) the crowd in front of the bank based on their observation of what others have done. Depositors’ opportunity to change their decision supports implicit coordination, which in some circumstances reduces the probability that self-fulfilling bank runs will occur.