Alfonso Rosa-García

Do Social Networks Prevent Bank Runs

We develop, both theoretically and experimentally, a stereotypical environment that allows for co-ordination breakdown, leading to a bank run. Three depositors are located at the nodes of a network and have to decide whether to keep their funds deposited or to withdraw. One of the depositors has immediate liquidity needs, whereas the other two depositors do not. Depositors act sequentially and observe others’ actions only if connected by the network. Theoretically, a link connecting the first two depositors to decide is sufficient to avoid a bank run. However, our experimental evidence shows that subjects’choice is not a¤ected by the existence of the link per se. Instead, being observed and the particular action that is observed determine subjects’choice. Our results highlight the importance of initial decisions in the emergence of a bank run. In particular, Bayesian analysis reveals that subjects clearly depart from predicted behavior when observing a withdrawal.

Satisfaction with online teaching videos: A quantitative approach

ABSTRACT We analyse the factors that determine the number of clicks on the ‘Like’ button in online teaching videos, with a sample of teaching videos in the area of Microeconomics across Spanish-speaking countries. The results show that users prefer short online teaching videos. Moreover, some features of the videos have a significant impact on the number of ‘likes’. We find that videos recorded by female teachers, and presented by entities other than universities are more likely to receive ‘Likes’. Also, viewers prefer videos showing the teachers, along with slides and/or graphics tablets to those showing a recorded class.

Do women panic more than men? An experimental study of financial decisions

We report experimental evidence on gender differences in financial decision-making that involves three depositors choosing whether to keep their money deposited or to withdraw it. We find that ones position in the line, the fact that one is being observed and observed decisions are key determinants in explaining the subjects’ behavior. Our main result is that men and women do not react differently to what is observed. However, there are gender differences regarding the effect of being observed: women value the fact of being observed more, while men value the number of subsequent depositors who observe them. Interestingly, risk aversion has no predictive power on depositors’ behavior.

Financial Crisis and Panic in the Laboratory

Thousands of depositors crowd in the door of a bank branch. “Where is our money?” they shout enraged. “We want our money back!” The scene, besides being part of the classic movie “It’s a wonderful life” (Frank Capra, 1946), reflects a reality that many people believed distant but that has re-arisen strongly in recent years. We refer to bank runs.

Kognitív képességek és stratégiai bizonytalanság egy bankrohamkísérletben

Tanulmanyunkban egy laboratoriumi kiserlet kereteben azt vizsgaljuk, hogy a kognitiv kepessegek es a strategiai bizonytalansag hogyan hat a betetesi dontesekre. Olyan egyedi donteseket nezunk meg, ahol a betetesnek dominans strategiaja van, azaz fuggetlenul attol, hogy a tobbi betetes hogyan dontott, neki a legjobb dontes bennhagyni a penzet a bankban. Azonban a strategiai bizonytalansag - azaz az, hogy a megfigyelhető korabbi dontesek alapjan nem derul ki egyertelműen, hogy a tobbi betetes hogyan dontott - megneheziti a dominans strategia felismereset. Azt talaljuk, hogy egy kognitiv kepesseg meresere gyakran hasznalt mutatonak van magyarazo ereje a betetesi donteseket illetően, ha fennall a strategiai bizonytalansag, azonban ha nem all fenn, a mutato elvesziti prediktiv erejet.* Journal of Economic Literature (JEL) kod: C91, D8, G21.

Do Women Panic More Than Men? An Experimental Study on Financial Decision

We report experimental evidence on gender differences in financial decision that involves three depositors choosing between waiting or withdrawing their money from a common bank. We find that the position in the line, the fact of being observed and the observed decisions are key determinants to explain subjects’ behavior. Although both men and women value being observed, it has a greater effect on women’s decisions. Observing a withdrawal increases the likelihood of withdrawal but women and men do not react differently to what is observed, so they are equally likely to panic if a bank run is already underway. Interestingly, risk aversion has no predictive power on depositors’ behavior.