Related papers: Trust! Why it Has Been Lost and How to Regain It
Internet of Things (IoT) is a network of devices that communicate with each other through the internet and provides intelligence to industry and people. These devices are running in potentially hostile environments, so the need for security…
A key quality of any kind of system is its ability to deliver its respective service correctly. Often the unavailability of commercial systems may lead to lost revenue, which are minor compared to what may be at stake when critical…
Natural hazards can considerably impact the overall society of a country. As some degree of public sector involvement is always necessary to deal with the consequences of natural disasters, central governments have increasingly invested in…
The recent financial crisis has stressed the need to understand financial systems as networks of interdependent countries, where cross-border financial linkages play the fundamental role. It has also been emphasized that the relevance of…
Traded corporations are required by law to have a majority of outside directors on their board. This requirement allows the existence of directors who sit on the board of two or more corporations at the same time, generating what is…
Trust is an absolute necessity for digital communications; but is often viewed as an implicit singular entity. The use of the internet as the primary vehicle for information exchange has made accountability and verifiability of system code…
We discuss a possible solution to an unintended consequence of having grades, certificates, rankings and other diversions in the act of transferring knowledge; and zoom in specifically to the topic of having grades, on a curve. We conduct a…
The United States risks losing its global leadership in information technology research due to declining basic research funding, challenges in attracting talent, and tensions between research security and openness.
Systemic risk is a rapidly developing area of research. Classical financial models often do not adequately reflect the phenomena of bubbles, crises, and transitions between them during credit cycles. To study very improbable events,…
The financial crisis has dramatically demonstrated that the traditional approach to apply univariate monetary risk measures to single institutions does not capture sufficiently the perilous systemic risk that is generated by the…
We provide an overview of the relationship between financial networks and systemic risk. We present a taxonomy of different types of systemic risk, differentiating between direct externalities between financial organizations (e.g.,…
It had been believed in the conventional practice that the risk of a bank going bankrupt is lessened in a straightforward manner by transferring the risk of loan defaults. But the failure of American International Group in 2008 posed a more…
We note a simple mechanism that may at least partially resolve several outstanding economic puzzles, including why the cyclically adjusted price to earnings ratio of the S&P 500 index has been oddly high for the past two decades, why gains…
Decisions taken in our everyday lives are based on a wide variety of information so it is generally very difficult to assess what are the strategies that guide us. Stock market therefore provides a rich environment to study how people take…
The development of critical systems is becoming more and more complex. The overall tendency is that development costs raise. In order to cut cost of development, companies are forced to build systems from proven components and larger new…
We educe a perspective on how best to regulate the bank of tomorrow in frames of debate launched by the International Centre for Financial Regulation and Financial Times. Our goal is to create a conceptual framework for policymakers and…
This article provides a self-contained overview of the theory of rational asset price bubbles. We cover topics from basic definitions, properties, and classical results to frontier research, with an emphasis on bubbles attached to real…
In grid computing, trust has massive significance. There is lot of research to propose various models in providing trusted resource sharing mechanisms. The trust is a belief or perception that various researchers have tried to correlate…
Trust plays an essential role in the development of human society. According to the standard trust game, an investor decides whether to keep or transfer a certain portion of initial stake to a trustee. In the latter case, the stake is…
Inverse Constraint Learning (ICL) is the problem of inferring constraints from safe (i.e., constraint-satisfying) demonstrations. The hope is that these inferred constraints can then be used downstream to search for safe policies for new…