IDEAS home Printed from https://ideas.repec.org/a/adr/anecst/y2012i107-108p7-29.html
   My bibliography  Save this article

Understanding Financial Crises: The Contribution of Experimental Economics

Author

Listed:
  • Frank Heinemann

Abstract

Several phases of financial crises contain strategic elements than can be directly tested by laboratory experiments. This paper summarizes what we can learn from experiments on the formation of bubbles, on herding behavior, bank runs, and on the effects of providing public information in environments with strategic complementarities. I will put a special emphasis on coordination games that are widely used to model bank runs, government debt crises, and currency crises.

Suggested Citation

  • Frank Heinemann, 2012. "Understanding Financial Crises: The Contribution of Experimental Economics," Annals of Economics and Statistics, GENES, issue 107-108, pages 7-29.
    • Handle: RePEc:adr:anecst:y:2012:i:107-108:p:7-29
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/23646570
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Huber, Juergen & Shubik, Martin & Sunder, Shyam, 2016. "Default penalty as a selection mechanism among multiple equilibria," Journal of Behavioral and Experimental Finance, Elsevier, vol. 9(C), pages 20-38.
    2. Lisa Bruttel & Muhammed Bulutay & Camille Cornand & Frank Heinemann & Adam Zylbersztejn, 2023. "Measuring strategic-uncertainty attitudes," Experimental Economics, Springer;Economic Science Association, vol. 26(3), pages 522-549, July.
    3. Nobuyuki Hanaki & Nicolas Jacquemet & Stéphane Luchini & Adam Zylbersztejn, 2016. "Cognitive ability and the effect of strategic uncertainty," Theory and Decision, Springer, vol. 81(1), pages 101-121, June.
    4. Bosch-Rosa, Ciril, 2018. "That's how we roll: An experiment on rollover risk," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 495-510.
    5. repec:hal:pseose:halshs-01261036 is not listed on IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:adr:anecst:y:2012:i:107-108:p:7-29. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Secretariat General or Laurent Linnemer (email available below). General contact details of provider: https://edirc.repec.org/data/ensaefr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.