相关论文: Emergence of frustration signals systemic risk
Over the last years, a great deal of attention has been focused on complex networked systems, characterized by intricate structure and dynamics. The latter has been often represented in terms of overall statistics (e.g. average and standard…
Spontaneous explosive emergent behavior takes place in heterogeneous networks when the frequencies of the nodes are positively correlated to the node degree. A central feature of such explosive transitions is a hysteretic behavior at the…
Since the latest financial crisis, the idea of systemic risk has received considerable interest. In particular, contagion effects arising from cross-holdings between interconnected financial firms have been studied extensively. Drawing…
Many dynamical systems operate in a fluctuating environment. However, even in low-dimensional setups, transitions and bifurcations have not yet been fully understood. In this Letter we focus on crises, a sudden flooding of the phase space…
Signed networks with positive and negative interaction are widely observed in the real systems. The negative links would induce frustration, then affect global properties of the system. Based on previous studies, frustration of signed…
We address a fundamental problem that is systematically encountered when modeling complex systems: the limitedness of the information available. In the case of economic and financial networks, privacy issues severely limit the information…
One of the most interesting scientific challenges nowadays deals with the analysis and the understanding of complex networks' dynamics and how their processes lead to emergence according to the interactions among their components. In this…
For the signed graph associated to a deep neural network, one can compute the frustration level, i.e., test how close or distant the graph is to structural balance. For all the pretrained deep convolutional neural networks we consider, we…
Current artificial intelligence systems show near-human-level capabilities when deployed in isolation. Systems of a few collaborating intelligent agents are being engineered to perform tasks collectively. This raises the question of whether…
The 2023 U.S. banking crisis propagated not through direct financial linkages but through a high-frequency, information-based contagion channel. This paper moves beyond exploration analysis to test the "too-similar-to-fail" hypothesis,…
This paper introduces a novel framework to study default dependence and systemic risk in a financial network that evolves over time. We analyse several indicators of risk, and develop a new latent space model to assess the health of key…
Griffiths phases are typically associated with quenched disorder, while frustration gives rise to multistability and spin-glass behavior. Whether extended criticality can arise in other contexts remains an open question. Here, we show that…
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…
Short-term survival and an exuberant plunge into building our future are generating a new kind of unintended consequence -- hidden fragility. This is a direct effect of the sophistication and structural complexity of the socio-technical…
Characterizing temporal evolution of stock markets is a fundamental and challenging problem. The literature on analyzing the dynamics of the markets has focused so far on macro measures with less predictive power. This paper addresses this…
We report evidence of a deep interplay between cross-correlations hierarchical properties and multifractality of New York Stock Exchange daily stock returns. The degree of multifractality displayed by different stocks is found to be…
The consensus that complexity begets stability in ecosystems was challenged in the seventies, a result recently extended to ecologically-inspired networks. The approaches assume the existence of a feasible equilibrium, i.e. with positive…
We analyze information diffusion using empirical data that tracks online communication around two instances of mass political mobilization, including the year that lapsed in-between the protests. We compare the global properties of the…
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…
We study the disequilibrium dynamics of a stylised model of production networks in which firms use perishable and non-substitutable intermediate inputs, so that adverse idiosyncratic productivity shocks can trigger downstream shortages and…