Related papers: Sequential Defaulting in Financial Networks
The problem of reliability of a large distributed system is analyzed via a new mathematical model. A typical framework is a system where a set of files are duplicated on several data servers. When one of these servers breaks down, all…
We consider a banking network represented by a system of stochastic differential equations coupled by their drift. We assume a core-periphery structure, and that the banks in the core hold a bubbly asset. The banks in the periphery have not…
We consider a large random network, in which the performance of a node depends upon that of its neighbours and some external random influence factors. This results in random vector valued fixed-point (FP) equations in large dimensional…
We consider the following scheduling problem. A system is composed of $n$ processors drawn from a pool of $N$. The processors can become faulty while in operation and faulty processors never recover. A report is issued whenever a fault…
Recent network research has focused on the cascading failures in a system of interdependent networks and the necessary preconditions for system collapse. An important question that has not been addressed is how to repair a failing system…
Payment channel networks (PCNs) have emerged as a scalability solution for blockchains built on the concept of a payment channel: a setting that allows two nodes to safely transact between themselves in high frequencies based on…
Interbank lending and borrowing occur when financial institutions seek to settle and refinance their mutual positions over time and circumstances. This interactive process involves money creation at the aggregate level. Coordination…
Self-stabilization is a versatile fault-tolerance approach that characterizes the ability of a system to eventually resume a correct behavior after any finite number of transient faults. In this paper, we propose a self-stabilizing reset…
In [1] Zawadoski introduces a banking network model in which the asset and counter-party risks are treated separately and the banks hedge their assets risks by appropriate OTC contracts. In his model, each bank has only two counter-party…
Precise timing of spikes and temporal locking are key elements of neural computation. Here we demonstrate how even strongly heterogeneous, deterministic neural networks with delayed interactions and complex topology can exhibit periodic…
In today's global economy, supply chain (SC) entities have become increasingly interconnected with demand and supply relationships due to the need for strategic outsourcing. Such interdependence among firms not only increases efficiency but…
The solution of linear inverse problems arising, for example, in signal and image processing is a challenging problem since the ill-conditioning amplifies, in the solution, the noise present in the data. Recently introduced algorithms based…
This paper studies the stability and $\mathcal{H}_{\infty}$ performance analysis problem for linear networked and quantized control systems with both communication delays random packet losses. To deal with the network-induced uncertainties…
Banking system crises are complex events that in a short span of time can inflict extensive damage to banks themselves and to the external economy. The crisis literature has so far identified a number of distinct effects or channels that…
The problem of total-order (uniform reliable) broadcast is fundamental in fault-tolerant distributed computing since it abstracts a broad set of problems requiring processes to uniformly deliver messages in the same order in which they were…
Current reconfiguration techniques are based on starting the system in a consistent configuration, in which all participating entities are in their initial state. Starting from that state, the system must preserve consistency as long as a…
We describe the bailout of banks by governments as a Markov Decision Process (MDP) where the actions are equity investments. The underlying dynamics is derived from the network of financial institutions linked by mutual exposures, and the…
We consider the $N$-model queueing system with a waiting time dependent threshold on the diagonal: the service discipline is First--Come--First--Served, but type-1 jobs can only be served by server 2 if their waiting time exceeds a…
In the load balancing problem, each node in a network is assigned a load, and the goal is to equally distribute the loads among the nodes, by preforming local load exchanges. While load balancing was extensively studied in static networks,…
We provide a queueing-theoretic framework for job replication schemes based on the principle "\emph{replicate a job as soon as the system detects it as a \emph{straggler}}". This is called job \emph{speculation}. Recent works have analyzed…