This paper presents an experimental investigation of the factors that affect the dynamics and severity of bank runs. Our experiments demonstrate that the more information laboratory economic agents can expect to learn about the crisis as it develops, the more willing they are to restrain...

This paper assesses whether affirmative action programs and equal opportunity laws affect the output of economic agents. More precisely, the authors find that equal opportunity laws and affirmative action programs always benefit disadvantaged groups. Equal opportunity laws also increase the...