Presenting an emotional-normative agent model through the combination of E-X-machine and NOE architecture for investigating the phenomenon of bank rush

One of the economic phenomena that has been investigated in different ways by researchers, is the problem of bank runoff. A bank rush refers to a situation where depositors suddenly withdraw their deposits due to fear of the safety of their deposits, in a mostly emotional reaction, which can lead to bank failure.

In this article, while combining the architecture of Emotional X-machine for the emotional agent  and Norma Emergence(NOE) for the normative agent, a model for the emotional-normative agent is presented and through it, the role of social norms in preventing ​​the bank rush phenomenon through simulation in Netlogo’s environment provided.

In a situation where without the use of normative reasoning, by activating the contagion of emotions and using 15 secondary agents, we have faced 100% bank failures. By activating normative reasoning, considering the mean of 0.5 for agreeableness personality variable and using the initial normative population of 50%, the number of bank failures will decrease to about 50%. By increasing the initial normative population to 100%, bank rush is completely contained.

Finally, the results obtained from the simulation clearly confirm the effectiveness of normative variables in preventing the occurrence of bank runs.