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It is commonly believed that information spreads between individuals like a pathogen, with each exposure by an informed friend potentially resulting in a naive individual becoming infected. However, empirical studies of social media suggest…
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…
We investigate a model of stratified economic interactions between agents when the notion of spatial location is introduced. The agents are placed on a network with near-neighbor connections. Interactions between neighbors can occur only if…
We study the effect of the social stratification on the wealth distribution on a system of interacting economic agents that are constrained to interact only within their own economic class. The economical mobility of the agents is related…
Levels of sociality in nature vary widely. Some species are solitary; others live in family groups; some form complex multi-family societies. Increased levels of social interaction can allow for the spread of useful innovations and…
Panic may spread over a crowd in a similar fashion as contagious diseases do in social groups. People no exposed to a panic source may express fear, alerting others of imminent danger. This social mechanism initiates an evacuation process,…
Threats on the stability of a financial system may severely affect the functioning of the entire economy, and thus considerable emphasis is placed on the analyzing the cause and effect of such threats. The financial crisis in the current…
Models of how things spread often assume that transmission mechanisms are fixed over time. However, social contagions--the spread of ideas, beliefs, innovations--can lose or gain in momentum as they spread: ideas can get reinforced, beliefs…
I study linear panel data models with predetermined regressors (such as lagged dependent variables) where coefficients are individual-specific, allowing for heterogeneity in the effects of the regressors on the dependent variable. I show…
In this paper, we explore the relationship between state-level household income inequality and macroeconomic uncertainty in the United States. Using a novel large-scale macroeconometric model, we shed light on regional disparities of…
We investigate the impact of network heterogeneity on synergistic contagion dynamics. By extending a synergistic contagion model to diverse heterogeneous network topologies, we uncover the emergence of novel dynamical regimes characterized…
Ideas, behaviors, and opinions spread through social networks. If the probability of spreading to a new individual is a non-linear function of the fraction of the individuals' affected neighbors, such a spreading process becomes a "complex…
We study how the phenomenon of contagion can take place in the network of the world's stock exchanges due to the behavioral trait "blindeness to small changes". On large scale individual, the delay in the collective response may…
The lack of cooperation can easily result in inequality among members of a society, which provides an increasing gap between individual incomes. To tackle this issue, we introduce an incentive mechanism based on individual strategies and…
This study is concerned with the dynamical behaviors of epidemic spreading over a two-layered interconnected network. Three models in different levels are proposed to describe cooperative spreading processes over the interconnected network,…
Urban systems are characterized by populations with heterogeneous characteristics, and whose spatial distribution is crucial to understand inequalities in life expectancy or education level. Traditional studies on spatial segregation…
Human social networks are inherently multiplex, comprising overlapping layers of relationships. Different layers may have distinct structural properties and interpersonal dynamics, but also may interact to form complex interdependent…
We investigate infectious disease spreading on scale-free networks using a heterogeneous mean-field approach applied to the susceptible-infected-susceptible model, incorporating a mitigation factor. Individual heterogeneity is incorporated…
Systemic liquidity risk, defined by the IMF as "the risk of simultaneous liquidity difficulties at multiple financial institutions", is a key topic in macroprudential policy and financial stress analysis. Specialized models to simulate…
Economic inequality emerges from the interplay between regional growth-rate differences and the interaction network that couples regions. We propose a minimal income-dynamics model, where heterogeneity is governed by growth-rate…