Information Acquisition in Rumor Based Bank Runs

We thank the editor Bruno Biais, the Associate Editor, three anonymous referees, Fernando Anjos (discussant), Douglas Diamond, Philip Dybvig, Itay Goldstein, Rajkamal Iyer, Doron Levit (discussant), Dmitry Livdan, Alan Moreira, Uday Rajan, and Robert Vishny as well as seminar participants at AEA, Chicago Booth, Jackson Hole Finance Group, NY Fed, Rothschild Caesarea, SED, SFS Cavalcade, Southwest University of Finance and Economics (China), Tel Aviv U, Financial Theory Group workshop, and Wash U for helpful comments. Part of this project was completed while Zhiguo He visited the Institution of Financial Studies at Southwest University of Finance and Economics in Chengdu (China) in summer 2011. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• November 1, 2012
• January 22, 2014