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MODEL OF HERD BEHAVIOR OF BANK CLIENTS
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MODEL OF HERD BEHAVIOR OF BANK CLIENTS
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
Mark Voronovitsky 
Edition
Volume 49 Issue 1
Pages
73-87
Abstract

The run of bank is a phenomenon, when most of bank client demand the return their money from long-term deposits ahead of schedule. Herd behavior of bank clients is one of the reasons of that by our opinion. The run of bank is considered in this paper as an example of herd behavior. Two dynamic models of interaction of the clients and bank was created and investigated. It was shown that at simple and natural suppositions about decision making mechanisms by clients the herd behavior arises. The main purpose of this paper is the investigation of more complicated mechanisms of herd behavior than mechanisms investigated before.

Keywords
herd behavior, run of bank, mathematical models, Markov chain
Date of publication
01.01.2013
Number of purchasers
1
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786
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Additional sources and materials

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