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The purpose of this paper is to examine the link between banking crises and the subjective well-being of individuals. In addition, the authors examine the transmission of crises from the banking sector to well-being and show that negative financial shocks have significant adverse effects.

The authors employ agent-based modeling to test for the direct and indirect welfare effects of banking crises. The model includes a support vector machine (SVM) optimized subjective well-being function. The existing literature suggests that this is influenced by both the negative psychological effects of recessions and the adverse economic effects of income loss and increased unemployment.

The authors show that the different choices of policy response to a banking crisis carry different opportunity costs in terms of welfare and that societal preferences should be taken into account. The authors demonstrate that these effects influence different population classes in an asymmetric manner. Finally, the results demonstrate that the welfare loss of a bank failure is much higher than the cost of a bailout.

The authors are able to propose to the authorities the best policy mix in order to handle banking crises in the most adequate manner, according to society's preferences between financial stability and public goods.

The findings extend the existing literature on subjective well-being, by quantifying the welfare cost of banking crises and showing that authorities should reconsider bank bailouts as a policy solution to bank distress.

The originality of this article lies in the use of an agent-based model to model the relationship between societal well-being and financial stability. Also, the authors extend existing agent-based methodologies to include machine learning optimization techniques.

It is widely accepted that coauthorship and collaboration promotes intellectual partnerships and improves the quality of publications. This paper examines the relationship between collaboration, productivity and publications in the field of family business.

The authors identify the most prolific authors, affiliations and countries and focus on the evolution of research in the field of family business. In doing so, the authors employ social network analysis to discover the structure of the networks and the ways in which authors, institutions and countries interact.

The empirical results show that collaboration is positively related to productivity, and there is significant evidence that the shaped networks exhibit small-world characteristics, a condition in which collaboration within authors becomes integrated in conjunction with time.

The findings highlight the mechanics of collaborative research production and can be useful to understand the importance of collaboration patterns to be followed in the field of family business.

The contributions are as follows: (a) application of social network analysis to model the coauthorship patterns among individuals, institutions and countries in family business; (b) distinguishing the most degree-central authors in the social network of collaborating academics; (c) investigation of the academic collaborations in family business that have the characteristics of a small-world social network and (d) suggesting a unique connection, through published keywords, between the research priorities of the most central or prolific authors with the research trends in the family business literature. The authors demonstrate that authors' collaboration becomes integrated in conjunction with time.

The purpose of this paper is to propose an object-oriented model of financial simulations which aims to test the applicability and suitability of the proposed measures of Basel III with respect to the prevention of banking crises.

The authors introduce an object-oriented model of financial simulations in the banking sector, namely, virtual banking (VBanking). The system is based on behavioural simulation of economic agents and allows for transactions between them, using various forms of financial assets. VBanking has been implemented as an automated stand-alone model, allowing for repetitive simulations under the same parameter sets, producing an efficient series of statistical data.

Interpretation of the resulting data suggests that some of the criticism against the proposed measures is justified, as neither economic crises nor contagion are diminished under Basel III. At the same time, the authors’ findings support that the stability goal is met, at least in part.

The model encompasses a relatively small part of the banking sector, while the authors choose not to deal with the production part of the economy. However, these limitations do not hinder the validity and importance of the authors’ findings.

The originality of this article lies in the use of an object-oriented behavioural model and in the resulting model application that is based on it. This enables the authors to run a series of simulations with different parameters, the results of which the authors can then compare. The authors’ findings can contribute to the authorities’ efforts to ameliorate the policies of Basel III.