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Financial networks help firms manage risk but also enable financial shocks to spread. Despite their importance, existing models of financial networks have several limitations. Prior works often consider a static network with a simple…
The century of complexity has come. The face of science has changed. Surprisingly, when we start asking about the essence of these changes and then critically analyse the answers, the result are mostly discouraging. Most of the answers are…
The dynamics of protection processes has been a fundamental challenge in systemic risk analysis. The conceptual principle and methodological techniques behind the mechanisms involved [in such dynamics] have been harder to grasp than…
The success of new scientific areas can be assessed by their potential for contributing to new theoretical approaches and in applications to real-world problems. Complex networks have fared extremely well in both of these aspects, with…
The emergence of cooperation in the groups of interacting agents is one of the most fascinating phenomena observed in many complex systems studied in social science and ecology, even in the situations where one would expect the agent to use…
A broad set of empirical phenomenon in the study of social, economic and machine behaviour can be modelled as complex systems with averaging dynamics. However many of these models naturally result in consensus or consensus-like outcomes. In…
Complex systems throughout Nature display structures and functions that are built and maintained, at least in part, by optimal energies flowing through them--not specific, ideal values, rather ranges in energy rate density below which…
The body of knowledge accumulated in recent years on the structure and the dynamics of complex networks has offered useful insights on the behaviour of many natural and artificial complex systems. The analysis of some of these, namely those…
The international financial system is currently not yet prepared to face a foreseeable crisis mainly motivated by the dichotomy between the real economy and the virtual economy. Skepticism is widespread even when it comes to investments in…
A major challenge of interdisciplinary description of complex system behaviour is whether real systems of higher complexity levels can be understood with at least the same degree of objective, "scientific" rigour and universality as…
The question What is Complexity? has occupied a great deal of time and paper over the last 20 or so years. There are a myriad different perspectives and definitions but still no consensus. In this paper I take a phenomenological approach,…
Engineering sciences, such as energy system research, play an important role in developing solutions to technical, environmental, economic, and social challenges of our modern society. In this context, the transformation of energy systems…
Software systems are expansive, exhibiting behaviors characteristic of complex systems, such as self-organization and emergence. These systems, highlighted by advancements in Large Language Models (LLMs) and other AI applications developed…
The Internet and computer commercialization have transformed the computing systems area over the past sixty years, affecting society. Computer systems have evolved to meet diverse social needs thanks to technological advances. The Internet…
As testified by new regulations like the European AI act, the worries about the societal impact of (autonomous) software technologies are becoming of public concern. Social and human values, besides the traditional software behaviour and…
Based on the assumption that economic complexity is characterised by the interactions of economic agents (who) constantly change their actions and strategies in response to the outcome they mutually create, this paper presents how network…
In this review article we explore several recent advances in the quantitative modeling of financial markets. We begin with the Efficient Markets Hypothesis and describe how this controversial idea has stimulated a number of new directions…
In today's era of innovation of technological progression, digitalisation has not only transformed individual lives but also has a prominent influence on business activities. The world is surviving in a global yet complex technological…
From critical infrastructure, to physiology and the human brain, complex systems rarely occur in isolation. Instead, the functioning of nodes in one system often promotes or suppresses the functioning of nodes in another. Despite advances…
Networks are structures that pervade many natural and man-made phenomena. Recent findings have characterized many networks as not random structures, but as efficent complex formations. Current research has examined complex networks as…