A Four-Party Evolutionary Game of Payment-Risk Governance Under Regulatory Credibility

Blocked bank withdrawals generate concentrated funding requests and online discussion, while discussion activity and funding resolution can follow different timelines. This study develops a four-party evolutionary game of regulators, financial institutions, information disseminators, and claimants. Original posts, publicly visible comments, and public resolution documents from the Henan village bank event provide the practical setting for examining strategic evolution under funding and information conditions. Regulatory credibility promotes orderly waiting when payment capacity, executable advance-payment arrangements, and reliable information provide support. When proactive action benefits all parties and unresolved demands dissipate faster than financial and information pressure accumulates, the system returns to coordinated governance after small perturbations. This study integrates funding arrangements, information governance, and multi-actor strategic interaction into a unified framework to examine payment-risk governance following blocked withdrawals.