Related papers: Corruption Risk in Contracting Markets: A Network …
Conventional sampling techniques fall short of drawing descriptive sketches of the data when the data is grossly corrupted as such corruptions break the low rank structure required for them to perform satisfactorily. In this paper, we…
International collaboration as measured by co-authorship relations on refereed papers grew linearly from 1990 to 2005 in terms of the number of papers, but exponentially in terms of the number of international addresses. This confirms…
We introduce a model for a market based economic system of cyber-risk valuation to correct fundamental problems of incentives within the information technology and information processing industries. We assess the makeup of the current day…
Renewable electricity generation has grown significantly across many European power systems, leading to a greener energy mix, but also additional complexity in balancing electricity supply and demand. Unexpected differences between…
National economies rest on networks of millions of customer-supplier relations. Some companies -- in the case of their default -- can trigger significant cascades of shock in the supply-chain network and are thus systemically risky. Up to…
We follow up on the study of correlations between GDP's of rich countries. We analyze web-downloaded data on GDP that we use as individual wealth signatures of the country economical state. We calculate the yearly fluctuations of the GDP.…
This article investigates crime patterns across European countries in 2022 using Compositional Data Analysis (CoDA) to address limitations of traditional statistical approaches in dealing with the relative nature of crime data. Recognizing…
We employ network embedding to detect money laundering in financial transaction networks. Using real anonymized banking data, we model over one million accounts as a directed graph and use it to refine previously detected suspicious cycles…
We introduce a set of image transformations that can be used as corruptions to evaluate the robustness of models as well as data augmentation mechanisms for training neural networks. The primary distinction of the proposed transformations…
In recent years, methods from network science are gaining rapidly interest in economics and finance. A reason for this is that in a globalized world the interconnectedness among economic and financial entities are crucial to understand and…
In this paper we propose a regularization approach for network modeling of German power derivative market. To deal with the large portfolio, we combine high-dimensional variable selection techniques with dynamic network analysis. The…
We consider two market designs for a network of prosumers, trading energy: (i) a centralized design which acts as a benchmark, and (ii) a peer-to-peer market design. High renewable energy penetration requires that the energy market design…
It has proved to be difficult to translate the lessons from the literature on universal service into the policy framework because of political interests and regulatory capture. Neither the USA or Europe has made a very good job of devising…
Assessing the stability of economic systems is a fundamental research focus in economics, that has become increasingly interdisciplinary in the currently troubled economic situation. In particular, much attention has been devoted to the…
We contribute to the understanding of how systemic risk arises in a network of credit-interlinked agents. Motivated by empirical studies we formulate a network model which, despite its simplicity, depicts the nature of interbank markets…
We analyze structure of the world foreign currency exchange (FX) market viewed as a network of interacting currencies. We analyze daily time series of FX data for a set of 63 currencies, including gold, silver and platinum. We group…
This chapter reviews key contributions of complexity science to the study of systemic risk in financial systems. The focus is on network models of financial contagion, where I explore various mechanisms of shock propagation, such as…
The global crisis of 2008 provoked a heightened interest among scientists to study the phenomenon, its propagation and negative consequences. The process of modelling the spread of a virus is commonly used in epidemiology. Conceptually, the…
The prospect of collusive agreements being stabilized via the use of pricing algorithms is widely discussed by antitrust experts and economists. However, the literature is often lacking the perspective of computer scientists, and seems to…
In this paper, we investigate the credit risk in the loan portfolio of banks following different business models. We develop a data-driven methodology for identifying the business models of the 365 largest European banks that is suitable…