Disruptions in large value payment systems: An experimental approach
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Klaus Abbink & Ronald Bosman & Ronald Heijmans & Frans van Winden, 2017. "Disruptions in Large-Value Payment Systems: An Experimental Approach," International Journal of Central Banking, International Journal of Central Banking, vol. 13(4), pages 63-95, December.
References listed on IDEAS
- John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, December.
- Giovanna Devetag & Andreas Ortmann, 2007.
"When and why? A critical survey on coordination failure in the laboratory,"
Experimental Economics, Springer;Economic Science Association, vol. 10(3), pages 331-344, September.
- Giovanna Devetag & Andreas Ortmann, 2006. "When and Why? A Critical Survey on Coordination Failure in the Laboratory," CEEL Working Papers 0605, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
- Giovanna Devetag & Andreas Ortmann, 2006. "When and Why? A Critical Survey on Coordination Failure in the Laboratory," CERGE-EI Working Papers wp302, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Van Huyck, John B & Battalio, Raymond C & Beil, Richard O, 1990.
"Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure,"
American Economic Review, American Economic Association, vol. 80(1), pages 234-248, March.
- John B Van Huyck & Raymond C Battalio & Richard O Beil, 1997. "Tacit coordination games, strategic uncertainty, and coordination failure," Levine's Working Paper Archive 1225, David K. Levine.
- J. B. Van Huyck & R. C. Battalio & R. O. Beil, 2010. "Tacit coordination games, strategic uncertainty, and coordination failure," Levine's Working Paper Archive 661465000000000393, David K. Levine.
- Soramäki, Kimmo & Bech, Morten L. & Arnold, Jeffrey & Glass, Robert J. & Beyeler, Walter E., 2007.
"The topology of interbank payment flows,"
Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 379(1), pages 317-333.
- Jeffrey Arnold & Morten L. Bech & Walter E. Beyeler & Robert J. Glass & Kimmo Soramaki, 2006. "The topology of interbank payment flows," Staff Reports 243, Federal Reserve Bank of New York.
- Kahn, Charles M & McAndrews, James & Roberds, William, 2003.
"Settlement Risk under Gross and Net Settlement,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(4), pages 591-608, August.
- Charles M. Kahn & James J. McAndrews & William Roberds, 1999. "Settlement risk under gross and net settlement," Staff Reports 86, Federal Reserve Bank of New York.
- Charles M. Kahn & James J. McAndrews & William Roberds, 1999. "Settlement risk under gross and net settlement," FRB Atlanta Working Paper 99-10, Federal Reserve Bank of Atlanta.
- Ronald Heijmans, 2009. "Simulations in the Dutch interbank payment system: A sensitivity analysis," DNB Working Papers 199, Netherlands Central Bank, Research Department.
- Alos-Ferrer, Carlos & Ania, Ana B. & Schenk-Hoppe, Klaus Reiner, 2000.
"An Evolutionary Model of Bertrand Oligopoly,"
Games and Economic Behavior, Elsevier, vol. 33(1), pages 1-19, October.
- Ana B. Ania & Carlos Alós-Ferrer & Klaus R. Schenk-Hoppé, 1998. "- An Evolutionary Model Of Bertrand Oligopoly," Working Papers. Serie AD 1998-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Marc Pröpper & Iman van Lelyveld & Ronald Heijmans, 2008. "Towards a Network Description of Interbank Payment Flows," DNB Working Papers 177, Netherlands Central Bank, Research Department.
- Fernando Vega-Redondo, 1997.
"The Evolution of Walrasian Behavior,"
Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
- Fernando Vega Redondo, 1996. "The evolution of walrasian behavior," Working Papers. Serie AD 1996-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Mehta, Judith & Starmer, Chris & Sugden, Robert, 1994. "The Nature of Salience: An Experimental Investigation of Pure Coordination Games," American Economic Review, American Economic Association, vol. 84(3), pages 658-673, June.
- James J. McAndrews & Samira Rajan, 2000. "The timing and funding of Fedwire funds transfers," Economic Policy Review, Federal Reserve Bank of New York, issue Jul, pages 17-32.
- Schlag, Karl H., 1998.
"Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits,"
Journal of Economic Theory,
Elsevier, vol. 78(1), pages 130-156, January.
- Schlag, Karl H., 1994. "Why Imitate, and if so, How? Exploring a Model of Social Evolution," Discussion Paper Serie B 296, University of Bonn, Germany.
- K. Schlag, 2010. "Why Imitate, and if so, How? Exploring a Model of Social Evolution," Levine's Working Paper Archive 454, David K. Levine.
- Schlag, Karl H., 1998.
"Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits,"
Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
- Karl H. Schlag, "undated". "Why Imitate, and if so, How? A Bounded Rational Approach to Multi- Armed Bandits," ELSE working papers 028, ESRC Centre on Economics Learning and Social Evolution.
- Elisabeth Ledrut, 2006. "A tale of the water-supplying plumber: intraday liquidity provision in payment systems," DNB Working Papers 099, Netherlands Central Bank, Research Department.
- Abbink, Klaus & Brandts, Jordi, 2008.
"24. Pricing in Bertrand competition with increasing marginal costs,"
Games and Economic Behavior, Elsevier, vol. 63(1), pages 1-31, May.
- Klaus Abbink & Jordi Brandts, 2003. "24. Pricing in Bertrand Competition with Increasing Marginal Costs," Working Papers 62, Barcelona School of Economics.
- Bech, Morten L. & Garratt, Rod, 2003.
"The intraday liquidity management game,"
Journal of Economic Theory, Elsevier, vol. 109(2), pages 198-219, April.
- Bech, Morten L. & Garratt, Rod, 2001. "The Intraday Liquidity Management Game," University of California at Santa Barbara, Economics Working Paper Series qt0m6035wg, Department of Economics, UC Santa Barbara.
- Robin P. Cubitt & Robert Sugden, 1998. "The Selection of Preferences Through Imitation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 65(4), pages 761-771.
- John B. Van Huyck & Raymond C. Battalio & Richard O. Beil, 1991. "Strategic Uncertainty, Equilibrium Selection, and Coordination Failure in Average Opinion Games," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(3), pages 885-910.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ronald Heijmans & Richard Heuver, 2011. "Is this bank ill? The diagnosis of doctor TARGET2," DNB Working Papers 316, Netherlands Central Bank, Research Department.
- Jan Paulick & Ron Berndsen & Martin Diehl & Ronald Heijmans, 2024.
"No more tears without tiers? The impact of indirect settlement on liquidity use in TARGET2,"
Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(2), pages 425-458, May.
- Paulick, Jan & Berndsen, Ron & Diehl, Martin & Heijmans, Ronald, 2021. "No more Tears without Tiers? The Impact of Indirect Settlement on liquidity use in TARGET2," Other publications TiSEM 57477131-2199-46bf-a2f1-5, Tilburg University, School of Economics and Management.
- Paulick, Jan & Berndsen, Ron & Diehl, Martin & Heijmans, Ronald, 2021. "No more Tears without Tiers? The Impact of Indirect Settlement on liquidity use in TARGET2," Discussion Paper 2021-022, Tilburg University, Center for Economic Research.
- Shaun Byck & Ronald Heijmans, 2020. "How much liquidity would a liquidity-saving mechanism save if a liquidity-saving mechanism could save liquidity? A simulation approach for Canada's large-value payment system Shaun Byck," Working Papers 682, DNB.
- Ronald Heijmans & Chen Zhou, 2019. "Outlier detection in TARGET2 risk indicators," DNB Working Papers 624, Netherlands Central Bank, Research Department.
- Ronald Heijmans & Richard Heuver & Clement Levallois & Iman van Lelyveld, 2014. "Dynamic visualization of large transaction networks: the daily Dutch overnight money market," DNB Working Papers 418, Netherlands Central Bank, Research Department.
- Bewaji, Oluwasegun, 2024. "A computational model of bilateral credit limits in payment systems and other financial market infrastructures," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(1).
- Arifovic, Jasmina & Jiang, Janet Hua, 2019. "Strategic uncertainty and the power of extrinsic signals– evidence from an experimental study of bank runs," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 1-17.
- Peter Heemeijer & Ronald Heijmans, 2015. "Central bank intervention in large value payment systems: An experimental approach," DNB Working Papers 466, Netherlands Central Bank, Research Department.
- Benos, Evangelos & Ferrara, Gerardo & Gurrola-Perez, Pedro, 2017. "The impact of de-tiering in the United Kingdom’s large-value payment system," Bank of England working papers 676, Bank of England.
- Neville Arjani & Ronald Heijmans, 2020. "Is there anybody out there? Detecting operational outages from LVTS transaction data," Working Papers 683, DNB.
- Tong Mu & He Yi, 2017. "Topology of Complex Networks and Demand of Intraday Liquidity: Based on the Real-Time Gross Settlement System," Central European Economic Journal, Sciendo, vol. 2(49), pages 50-61, December.
- Sabetti, Leonard & Heijmans, Ronald, 2021. "Shallow or deep? Training an autoencoder to detect anomalous flows in a retail payment system," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(2).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Klaus Abbink & Jordi Brandts, 2002.
"24,"
UFAE and IAE Working Papers
523.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Jordi Brandts & Klaus Abbink, 2004. "24," Levine's Bibliography 122247000000000073, UCLA Department of Economics.
- Abbink, Klaus & Brandts, Jordi, 2008.
"24. Pricing in Bertrand competition with increasing marginal costs,"
Games and Economic Behavior, Elsevier, vol. 63(1), pages 1-31, May.
- Klaus Abbink & Jordi Brandts, 2003. "24. Pricing in Bertrand Competition with Increasing Marginal Costs," Working Papers 62, Barcelona School of Economics.
- Klaus Abbink & Ronald Bosman & Ronald Heijmans & Frans van Winden, 2017.
"Disruptions in Large-Value Payment Systems: An Experimental Approach,"
International Journal of Central Banking, International Journal of Central Banking, vol. 13(4), pages 63-95, December.
- Klaus Abbink & Ronald Bosman & Ronald Heijmans & Frans van Winden, 2010. "Disruptions in large value payment systems: An experimental approach," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 10-11, School of Economics, University of East Anglia, Norwich, UK..
- Klaus Abbink & Ronald Bosman & Ronald Heijmans & Frans van Winden, 2010. "Disruptions in large value payment systems: An experimental approach," DNB Working Papers 263, Netherlands Central Bank, Research Department.
- Alós-Ferrer, Carlos & Weidenholzer, Simon, 2014.
"Imitation and the role of information in overcoming coordination failures,"
Games and Economic Behavior, Elsevier, vol. 87(C), pages 397-411.
- Carlos Alós-Ferrer & Simon Weidenholzer, 2010. "Imitation and the Role of Information in Overcoming Coordination Failures," Vienna Economics Papers 1008, University of Vienna, Department of Economics.
- Nikiforakis, Nikos, 2010.
"Feedback, punishment and cooperation in public good experiments,"
Games and Economic Behavior, Elsevier, vol. 68(2), pages 689-702, March.
- Nikos Nikiforakis, 2008. "Feedback; Punishment and Cooperation in Public Good Experiments," Department of Economics - Working Papers Series 1036, The University of Melbourne.
- Luca Corazzini & Christopher Cotton & Paola Valbonesi, 2013.
"Too many charities? Insight from an experiment with multiple public goods and contribution thresholds,"
Working Papers
2013-13, University of Miami, Department of Economics.
- Luca Corazzini & Christopher Cotton & Paola Valbonesi, 2013. "Too many charities? Insight from an experiment with multiple public goods and contribution thresholds," "Marco Fanno" Working Papers 0171, Dipartimento di Scienze Economiche "Marco Fanno".
- Corazzini, Luca & Cotton, Christopher & Valbonesi, Paola, 2015. "Donor coordination in project funding: Evidence from a threshold public goods experiment," Journal of Public Economics, Elsevier, vol. 128(C), pages 16-29.
- Peter Heemeijer & Ronald Heijmans, 2015. "Central bank intervention in large value payment systems: An experimental approach," DNB Working Papers 466, Netherlands Central Bank, Research Department.
- Alós-Ferrer, Carlos & Weidenholzer, Simon, 2014.
"Imitation and the role of information in overcoming coordination failures,"
Games and Economic Behavior, Elsevier, vol. 87(C), pages 397-411.
- Carlos Alós-Ferrer & Simon Weidenholzer, 2010. "Imitation and the Role of Information in Overcoming Coordination Failures," Vienna Economics Papers vie1008, University of Vienna, Department of Economics.
- Konstantinos Georgalos & Indrajit Ray & Sonali SenGupta, 2020. "Nash versus coarse correlation," Experimental Economics, Springer;Economic Science Association, vol. 23(4), pages 1178-1204, December.
- repec:awi:wpaper:0461 is not listed on IDEAS
- Yan Chen & Catherine Eckel, 2018. "Introduction to the Symposium in Experimental Economics in memory of John Van Huyck," Experimental Economics, Springer;Economic Science Association, vol. 21(3), pages 481-486, September.
- Boyu Zhang & Josef Hofbauer, 2015. "Equilibrium selection via replicator dynamics in $$2 \times 2$$ 2 × 2 coordination games," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(2), pages 433-448, May.
- Apesteguia, Jose & Huck, Steffen & Oechssler, Jorg, 2007.
"Imitation--theory and experimental evidence,"
Journal of Economic Theory, Elsevier, vol. 136(1), pages 217-235, September.
- Jose Apesteguia & Steffen Huck & Jorg Oechssler, 2003. "Imitation - Theory and Experimental Evidence," Experimental 0309001, University Library of Munich, Germany.
- Apestgeguia, Jose & Huck, Steffen & Oechssler, Jörg, 2005. "Imitation - Theory and Experimental Evidence," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 54, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Apesteguia, José & Huck, Steffen & Oechssler, Jörg, 2003. "Imitation - Theory and Experimental Evidence," Bonn Econ Discussion Papers 20/2003, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Apesteguia, Jose & Huck, Steffen & Oechssler, Joerg, 2003. "Imitation - Theory and Experimental Evidence," University of California at Santa Barbara, Economics Working Paper Series qt3h0887tj, Department of Economics, UC Santa Barbara.
- Jose Alpesteguia & Steffen Huck & Jörg Oechssler, 2003. "Imitation - Theory and Experimental Evidence," CESifo Working Paper Series 1049, CESifo.
- José Apesteguía & Steffen Huck & Jorg Oechssler, 2003. "Imitation-Theory and Experimental Evidence-," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0306, Departamento de Economía - Universidad Pública de Navarra.
- Jose Apesteguia & Steffen Huck & Jorg Oechssler, 2004. "Imitation - Theory and Experimental Evidence," Levine's Bibliography 122247000000000132, UCLA Department of Economics.
- Duersch, Peter & Oechssler, Jörg & Schipper, Burkhard C., 2012.
"Unbeatable imitation,"
Games and Economic Behavior, Elsevier, vol. 76(1), pages 88-96.
- Duersch, Peter & Oechssler, Jörg & Schipper, Burkhard C., 2010. "Unbeatable Imitation," Working Papers 0499, University of Heidelberg, Department of Economics.
- Burkhard Schipper & Peter Duersch & Joerg Oechssler, 2012. "Unbeatable Imitation," Working Papers 44, University of California, Davis, Department of Economics.
- Burkhard C. Schipper & Peter Duersch & Joerg Oechssler, 2011. "Unbeatable Imitation," Working Papers 271, University of California, Davis, Department of Economics.
- Duersch, Peter & Oechssler, Joerg & Schipper, Burkhard C, 2010. "Unbeatable Imitation," MPRA Paper 20856, University Library of Munich, Germany.
- Keser, Claudia & Ehrhart, Karl-Martin & Berninghaus, Siegfried K., 1998. "Coordination and local interaction: experimental evidence," Economics Letters, Elsevier, vol. 58(3), pages 269-275, March.
- Mandel, Antoine & Gintis, Herbert, 2016.
"Decentralized Pricing and the equivalence between Nash and Walrasian equilibrium,"
Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 84-92.
- Antoine Mandel & Herbert Gintis, 2016. "Decentralized Pricing and the equivalence between Nash and Walrasian equilibrium," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01296646, HAL.
- Antoine Mandel & Herbert Gintis, 2016. "Decentralized Pricing and the equivalence between Nash and Walrasian equilibrium," PSE-Ecole d'économie de Paris (Postprint) halshs-01296646, HAL.
- Antoine Mandel & Herbert Gintis, 2016. "Decentralized Pricing and the equivalence between Nash and Walrasian equilibrium," Post-Print halshs-01296646, HAL.
- Cartwright, Edward, 2003.
"Imitation and the Emergence of Nash Equilibrium Play in Games with Many Players,"
The Warwick Economics Research Paper Series (TWERPS)
684, University of Warwick, Department of Economics.
- Cartwright, Edward, 2003. "Imitation and the emergence of Nash equilibrium play in games with many players," Economic Research Papers 269568, University of Warwick - Department of Economics.
- Selten, Reinhard & Apesteguia, Jose, 2005.
"Experimentally observed imitation and cooperation in price competition on the circle,"
Games and Economic Behavior, Elsevier, vol. 51(1), pages 171-192, April.
- Selten, Reinhard & Apesteguia, José, 2002. "Experimentally Observed Imitation and Cooperation in Price Competition on the Circle," Bonn Econ Discussion Papers 19/2002, University of Bonn, Bonn Graduate School of Economics (BGSE).
- Edward Cartwright, 2002.
"Learning to play approximate Nash equilibria in games with many players,"
Levine's Working Paper Archive
506439000000000070, David K. Levine.
- Cartwright, Edward, 2003. "Learning To Play Approximate Nash Equilibria In Games With Many Players," The Warwick Economics Research Paper Series (TWERPS) 671, University of Warwick, Department of Economics.
- Edward Cartwright, 2004. "Learning to Play Approximate Nash Equilibria in Games with Many Players," Working Papers 2004.85, Fondazione Eni Enrico Mattei.
- Cartwright, Edward, 2003. "Learning to play approximate Nash equilibria in games with many players," Economic Research Papers 269484, University of Warwick - Department of Economics.
- Edward Cartwright, 2007. "Imitation, coordination and the emergence of Nash equilibrium," International Journal of Game Theory, Springer;Game Theory Society, vol. 36(1), pages 119-135, September.
More about this item
Keywords
payment systems; financial stability; experiment; decision making;All these keywords.
JEL classification:
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
Statistics
Access and download statisticsCorrections
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:uea:wcbess:10-11. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Cara Liggins (email available below). General contact details of provider: https://edirc.repec.org/data/esueauk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.