Can Banks Self-Regulate? Voluntary Agreements, Intrinsic Motivation and Games

Authors

  • Aidan Walsh,

  • Piotr Magnuszewski,

  • Anna Slodka-Turner


Abstract

This article argues that lessons on how to achieve a sustainable financial system can be learnt from the work done on sustainable commons (on common-pool resources – CPRs – where there is no ‘tragedy of the commons’). Existing approaches to financial regulation may not give proper attention to available solutions. The article proposes that innovative solutions could be tested using experimental methods commonly used in CPRs: repeat run, feedback driven games.

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