Related papers: Production networks and failure avalanches
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…
Avalanche disaster is a major natural disaster that seriously threatens the national infrastructure and personnel's life safety. For a long time, the research of avalanche disaster prediction in the world is insufficient, there are only…
A central concern of network operators is to estimate the probability of an incident that affects a significant part and thus may yield to a breakdown. We answer this question by modeling how a failure of either a node or an edge will…
Link failures repeatedly induce large-scale outages in power grids and other supply networks. Yet, it is still not well understood, which links are particularly prone to inducing such outages. Here we analyze how the nature and location of…
Social, biological and economic networks grow and decline with occasional fragmentation and re-formation, often explained in terms of external perturbations. We show that these phenomena can be a direct consequence of simple imitation and…
The scope of financial systemic risk research encompasses a wide range of interbank channels and effects, including asset correlation shocks, default contagion, illiquidity contagion, and asset fire sales. This paper introduces a financial…
A general theory of top-down cascades in complex networks is described which explains two similar types of perturbation amplifications in the complex networks of business supply chains (the `bullwhip effect') and ecological food webs…
As a promising computational paradigm, occurrence of critical states in artificial and biological neural networks has attracted wide-spread attention. An often-made explicit or implicit assumption is that one single critical state is…
Although classical economic theory is based on the concept of stable equilibrium, real economic systems appear to be always out of equilibrium. Indeed, they share many of the dynamical features of other complex systems, e.g., ecological…
Street networks allow people and goods to move through cities, but they are vulnerable to disasters like floods, earthquakes, and terrorist attacks. Well-planned network design can make a city more resilient and robust to such disruptions,…
Experiments in various neural systems found avalanches: bursts of activity with characteristics typical for critical dynamics. A possible explanation for their occurrence is an underlying network that self-organizes into a critical state.…
In the pursuit of ever increasing efficiency and growth, our economies have evolved to remarkable degrees of complexity, with nested production processes feeding each other in order to create products of greater sophistication from less…
A spatial avalanche model is introduced, in which avalanches increase stability in the regions where they occur. Instability is driven globally by a driving process that contains shocks. The system is typically subcritical, but the shocks…
One of the main characteristics of real-world networks is their large clustering. Clustering is one aspect of a more general but much less studied structural organization of networks, i.e. edge multiplicity, defined as the number of…
Building on similarities between earthquakes and extreme financial events, we use a self-organized criticality-generating model to study herding and avalanche dynamics in financial markets. We consider a community of interacting investors,…
Why was the $6 billion FAA air traffic control project scrapped? How could the 1977 New York City blackout occur? Why do large scale engineering systems or technology projects fail? How do engineering changes and errors propagate, and how…
It was recently recognized that interdependencies among different networks can play a crucial role in triggering cascading failures and hence system-wide disasters. A recent model shows how pairs of interdependent networks can exhibit an…
When complex systems are driven to extinction by some external factor, their non-stationary dynamics can present an intermittent behaviour between relative tranquility and burst of activity whose consequences are often catastrophic. To…
We analyse the economics and epidemiology of different scenarios for a phased restart of the UK economy. Our economic model is designed to address the unique features of the COVID-19 pandemic. Social distancing measures affect both supply…
We reveal the nature of the avalanche collapse of the giant viable component in multiplex networks under perturbations such as random damage. Specifically, we identify latent critical clusters associated with the avalanches of random…