Related papers: Critical Distribution System
Distribution systems are often crippled by catastrophic damage caused by a natural disaster. Well-designed hardening can significantly improve the performance of post-disaster restoration operations. Such performance is quantified by a…
This paper is concerned with the determination of pricing strategies for a firm that in each period of a finite horizon receives replenishment quantities of a single product which it sells in two markets, e.g., a long-distance market and an…
Business models involving buyers of digital goods in the distribution process are called superdistribution schemes. We review the state-of-the art of research and application of superdistribution and propose systematic approach to market…
In this short note we discuss recent attempts to describe pre-crash market dynamics with analogies from theory of critical phenomena.
In complex systems, external parameters often determine the phase in which the system operates, i.e., its macroscopic behavior. For nearly a century, statistical physics has extensively studied systems' transitions across phases,…
Timeout control is a simple mechanism used when direct feedback is either impossible, unreliable, or too costly, as is often the case in distributed systems. Its effectiveness is determined by a timeout threshold parameter and our goal is…
We propose that catastrophic events are "outliers" with statistically different properties than the rest of the population and result from mechanisms involving amplifying critical cascades. Applications and the potential for prediction are…
An interbank market lets participants pool the risk arising from the combination of illiquid investments and random withdrawals by depositors. But it also creates the potential for one bank's failure to trigger off avalanches of further…
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 propose using a hierarchical retail market structure to alert and dispatch resources to mitigate cyber-physical attacks on a distribution grid. We simulate attacks where a number of generation nodes in a distribution grid are attacked.…
Supply networks are essential for modern production, yet their critical properties remain understudied. We present a stochastic model with random production capacities to analyze material flow to a root node, focusing on topology and buffer…
In case of high impact low probability events, in order to restore the critical loads of the distribution network as much as possible, it is necessary to employ all available resources such as microgrids and distributed generations. This…
In order to increase the resilience of distribution systems against high-impact low-probability (HILP) events, it is important to prioritize assets damaged by these events so that the lost loads, especially sensitive and important loads,…
We review the evidence that the erratic dynamics of markets is to a large extent of endogenous origin, i.e. determined by the trading activity itself and not due to the rational processing of exogenous news. In order to understand why and…
The paper is devoted to the problem of disaster mitigation. It develops an emergent mechanism of resource redistribution aimed at recovering of a socio-technological system affected by a large scale disaster. The basic requirements to the…
Many complex systems exhibit extreme events far more often than expected for a normal distribution. This work examines how self-similar bursts of activity across several orders of magnitude can emerge from first principles in systems that…
Empirical data reveals that the liquidity flow into the order book (depositions, cancellations andmarket orders) is influenced by past price changes. In particular, we show that liquidity tends todecrease with the amplitude of past…
Complex, interdependent systems are necessary to the delivery of goods and services critical to societal function. Here we demonstrate how interdependent systems respond to disruptions. Specifically, we change the spatial arrangement of a…
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 recovery of society after a large scale disaster generally consists of two phases, short- and long-term recoveries. The problem of short-term recovery is rather close to the problem of resilience in their goal, namely, bouncing the…