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The function of a real network depends not only on the reliability of its own components, but is affected also by the simultaneous operation of other real networks coupled with it. Robustness of systems composed of interdependent network…

Physics and Society · Physics 2015-07-10 Filippo Radicchi

For interdependent networks with identity dependency map, percolation is exactly the same with that on a single network and follows a second-order phase transition, while for random dependency, percolation follows a first-order phase…

Social and Information Networks · Computer Science 2016-02-17 Jing Yuan , Lixiang Li , Haipeng Peng , Jürgen Kurths , Xiaojing Hua , Yixian Yang

We develop a dynamic model of cascading failures in a financial network whereby cross-holdings are viewed as feedback, external assets investments as inputs and failure penalties as static nonlinearities. We provide sufficient milder and…

Optimization and Control · Mathematics 2023-07-06 Stefanny Ramirez , Maaike Odijk , Dario Bauso

The failure of key financial institutions may accelerate risk contagion due to their interconnections within the system. In this paper, we propose a robust portfolio strategy to mitigate systemic risks during extreme events. We use the…

Portfolio Management · Quantitative Finance 2025-03-21 Qian Hui , Tiandong Wang

The increasing complexity and interdependency of today's networks highlight the importance of studying network robustness to failure and attacks. Many large-scale networks are prone to cascading effects where a limited number of initial…

Social and Information Networks · Computer Science 2016-07-27 Khashayar Kamran , Edmund Yeh

Cascade failures in power grids occur when the failure of one component or subsystem causes a chain reaction of failures in other components or subsystems, ultimately leading to a widespread blackout or outage. Controlling cascade failures…

Physics and Society · Physics 2024-09-02 Géza Ódor , István Papp , Kristóf Benedek , Bálint Hartmann

Modern networks are becoming increasingly interdependent. As a prominent example, the smart grid is an electrical grid controlled through a communications network, which in turn is powered by the electrical grid. Such interdependencies…

Networking and Internet Architecture · Computer Science 2016-11-17 Agostino Sturaro , Simone Silvestri , Mauro Conti , Sajal K. Das

To design control strategies that predictably manipulate a system's behavior, it is first necessary to understand how the system's structure relates to its response. Many complex systems can be represented as multilayer networks whose…

Neurons and Cognition · Quantitative Biology 2021-03-17 Pragya Srivastava , Peter J. Mucha , Emily Falk , Fabio Pasqualetti , Danielle S. Bassett

Controllability of complex networks arises in many technological problems involving social, financial, road, communication, and smart grid networks. In many practical situations, the underlying topology might change randomly with time, due…

Systems and Control · Computer Science 2020-01-08 Fernando Gama , Elvin Isufi , Alejandro Ribeiro , Geert Leus

We study, both analytically and numerically, the cascade of failures in two coupled network systems A and B, where multiple support-dependent relations are randomly built between nodes of networks A and B. In our model we assume that each…

Data Analysis, Statistics and Probability · Physics 2015-05-20 Jia Shao , Sergey V. Buldyrev , Shlomo Havlin , H. Eugene Stanley

Cascading failure of a power transmission system are initiated by an exogenous event that disable a set of elements (e.g., lines) followed by a sequence of interrelated failures (or more precisely, trips) of overloaded elements caused by…

Optimization and Control · Mathematics 2015-07-21 Daniel Bienstock , Guy Grebla

Networks in the real world do not exist as isolated entities, but they are often part of more complicated structures composed of many interconnected network layers. Recent studies have shown that such mutual dependence makes real networked…

Physics and Society · Physics 2014-04-23 Filippo Radicchi

We introduce a general framework for models of cascade and contagion processes on networks, to identify their commonalities and differences. In particular, models of social and financial cascades, as well as the fiber bundle model, the…

Risk Management · Quantitative Finance 2015-05-13 Jan Lorenz , Stefano Battiston , Frank Schweitzer

This paper considers the gain-scheduled leader-follower tracking control problem for a parameter varying complex interconnected system with directed communication topology and uncertain norm-bounded coupling between the agents. A…

Systems and Control · Computer Science 2015-01-27 Yi Cheng , V. Ugrinovskii

To achieve control objectives for extremely large-scale complex networks using standard methods is essentially intractable. In this work a theory of the approximate control of complex network systems is proposed and developed by the use of…

Optimization and Control · Mathematics 2020-10-28 Shuang Gao , Peter E. Caines

This paper studies the consequences of a human-initiated targeted attack on the national electric power system. We consider two kinds of attacks: ($i$) an attack by an adversary that uses a tactical weapon and destroys a large part of the…

Systems and Control · Electrical Eng. & Systems 2022-09-28 Rounak Meyur

A reflection of our ultimate understanding of a complex system is our ability to control its behavior. Typically, control has multiple prerequisites: It requires an accurate map of the network that governs the interactions between the…

Systems and Control · Computer Science 2016-09-21 Yang-Yu Liu , Albert-Laszló Barabási

The seniority of debt, which determines the order in which a bankrupt institution repays its debts, is an important and sometimes contentious feature of financial crises, yet its impact on system-wide stability is not well understood. We…

General Finance · Quantitative Finance 2015-06-25 Charles D. Brummitt , Teruyoshi Kobayashi

Modern world builds on the resilience of interdependent infrastructures characterized as complex networks. Recently, a framework for analysis of interdependent networks has been developed to explain the mechanism of resilience in…

Physics and Society · Physics 2015-06-16 Peng Zhang , Baisong Cheng , Zhuang Zhao , Daqing Li , Guangquan Lu , Yunpeng Wang , Jinghua Xiao

Infrastructure systems, such as power systems, often experience cascading failures. Modeling an infrastructure system as a collection of interdependent networks has recently received attention as a way to explain cascading failures. In this…

Networking and Internet Architecture · Computer Science 2022-11-11 Kyozo Hida , Tatsuhiro Tsuchiya