Market design matters when heterogeneous borrowers roll over loans, facing funding shocks. Borrower anonymity is a key feature of various financial markets, such as short term, interbank lending markets. We show that anonymous markets experience systemic runs for large shocks, but provide...

We examine individuals’ distributional orderings in a number of contexts. This is done by using a questionnaire-experiment that is presented to respondents in any one of seven “flavors” or interpretations of the basic distributional problem. The flavors include inequality, risk, social...