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The global financial system can be represented as a large complex network in which banks, hedge funds and other financial institutions are interconnected to each other through visible and invisible financial linkages. Recently, a lot of…
In this paper we present a theoretical framework for studying coherent acceptability indices in a dynamic setup. We study dynamic coherent acceptability indices and dynamic coherent risk measures, and we establish a duality between them. We…
In the present work, we consider nonlinear control systems for which there exist structural obstacles to the design of classical continuous backstepping feedback laws. We conceive feedback laws such that the origin of the closed-loop system…
The credit crisis roiling the world's financial markets will likely take years and entire careers to fully understand and analyze. A short empirical investigation of the current trends, however, demonstrates that the losses in certain…
A networked control system (NCS) consisting of cascaded two-port communication channels between the plant and controller is modeled and analyzed. Towards this end, the robust stability of a standard closed-loop system in the presence of…
The financial markets are understood as complex dynamical systems whose dynamics is analysed mostly using nonstationary and brief data sets that usually come from stock markets. For such data sets, a reliable method of analysis is based on…
This paper proposes a constructive approach to safety control of nonlinear cascade systems subject to multiple state constraints. New design ingredients include a unified characterization of safety and stability for systematic designs of…
Extensively evaluating the capabilities of (large) language models is difficult. Rapid development of state-of-the-art models induce benchmark saturation, while creating more challenging datasets is labor-intensive. Inspired by the recent…
We study the effectiveness of recovery strategies for a dynamic model of failure spreading in networks. These strategies control the distribution of resources based on information about the current network state and network topology. In…
Metastability is a phenomenon observed in stochastic systems which stay in a false-equilibrium within a region of its state space until the occurrence of a sequence of rare events that leads to an abrupt transition to a different region.…
Employing model predictive control to systems with unbounded, stochastic disturbances poses the challenge of guaranteeing safety, i.e., repeated feasibility and stability of the closed-loop system. Especially, there are no strict repeated…
Tracking the build-up of financial vulnerabilities is a key component of financial stability policy. Due to the complexity of the financial system, this task is daunting, and there have been several proposals on how to manage this goal. One…
We develop a mathematical model to describe the persistence of rule-breaking behaviors in societies, such as traffic violations, disregard for legal restrictions and other forms of noncompliance. Using a replicator-type dynamics with…
It is a known fact that not all controllable systems can be asymptotically stabilized by a continuous static feedback. Several approaches have been developed throughout the last decades, including time-varying, dynamical and even…
Robust stability and stochastic stability have separately seen intense study in control theory for many decades. In this work we establish relations between these properties for discrete-time systems and employ them for robust control…
Feedback control actively dissipates uncertainty from a dynamical system by means of actuation. We develop a notion of "control capacity" that gives a fundamental limit (in bits) on the rate at which a controller can dissipate the…
We explore a stochastic model that enables capturing external influences in two specific ways. The model allows for the expression of uncertainty in the parametrisation of the stochastic dynamics and incorporates patterns to account for…
Recently, the notion of cryptocurrencies has come to the fore of public interest. These assets that exist only in electronic form, with no underlying value, offer the owners some protection from tracking or seizure by government or…
We consider output trajectory tracking for a class of uncertain nonlinear systems whose internal dynamics may be modelled by infinite-dimensional systems which are bounded-input, bounded-output stable. We describe under which conditions…
A control design approach is developed for a general class of uncertain strict-feedback-like nonlinear systems with dynamic uncertain input nonlinearities with time delays. The system structure considered in this paper includes a nominal…