scholarly journals From agent-based modeling to actor-based reactive systems in the analysis of financial networks

2021 ◽  
Author(s):  
Silvia Crafa
Keyword(s):  
Reactive Systems ◽  
Computational Cost ◽  
Financial Networks ◽  
Stress Tests ◽  
Control Logic ◽  
Distinctive Features ◽  
Agent Based ◽  
Economic Agents ◽  
European Banking

AbstractWe present a new framework for the analysis of financial networks, called Actor-based Reactive Systems (ARS), that pushes further the Agent-Based approach (ABM) by resorting to ideas coming from the study of distributed systems in computer science. Two distinctive features, namely a fundamentally different management of time and a fully decentralized control logic, have a profound impact in terms of expressiveness of analysis, flexibility of modeling, and efficiency of experimentation. To illustrate the feasibility of the framework, we develop a realistic case study by analyzing the systemic risk of a model of the European banking network with a nontrivial contagion procedure, that combines an initial asset shock with the negative feedback loop triggered by asset fire sales. We show that, compared to ABMs, ARSs bring about finer-grained analyses, with a greater degree of heterogeneity and adaptivity of economic agents. Moreover, the very low computational cost and the detailed account of the system’s execution support the design and the development of very flexible stress tests to rapidly experiment with many hypothetical scenarios in a test-oriented style.

scholarly journals The hyperbolic geometry of financial networks

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Martin Keller-Ressel ◽  
Stephanie Nargang
Keyword(s):  
Hyperbolic Geometry ◽  
Structural Changes ◽  
Banking System ◽  
Financial Networks ◽  
Stress Tests ◽  
Disc Model ◽  
European Banking ◽  
European Banks ◽  
Hyperbolic Embedding ◽  
Embedding Methods

AbstractBased on data from the European banking stress tests of 2014, 2016 and the transparency exercise of 2018 we construct networks of European banks and demonstrate that the latent geometry of these financial networks can be well-represented by geometry of negative curvature, i.e., by hyperbolic geometry. Using two different hyperbolic embedding methods, hydra+ and Mercator, this allows us to connect the network structure to the popularity-vs-similarity model of Papdopoulos et al., which is based on the Poincaré disc model of hyperbolic geometry. We show that the latent dimensions of ‘popularity’ and ‘similarity’ in this model are strongly associated to systemic importance and to geographic subdivisions of the banking system, independent of the embedding method that is used. In a longitudinal analysis over the time span from 2014 to 2018 we find that the systemic importance of individual banks has remained rather stable, while the peripheral community structure exhibits more (but still moderate) variability. Based on our analysis we argue that embeddings into hyperbolic geometry can be used to monitor structural change in financial networks and are able to distinguish between changes in systemic relevance and other (peripheral) structural changes.

scholarly journals Multi-Criteria, Co-Evolutionary Charging Behavior: An Agent-Based Simulation of Urban Electromobility

2021 ◽  
Vol 12 (1) ◽  
pp. 18
Author(s):  
Lennart Adenaw ◽  
Markus Lienkamp
Keyword(s):  
Urban Areas ◽  
City Planning ◽  
User Behavior ◽  
Transport Sector ◽  
Simulation Framework ◽  
Agent Based Simulation ◽  
Agent Based ◽  
Charging Station ◽  
Spatio Temporal

In order to electrify the transport sector, scores of charging stations are needed to incentivize people to buy electric vehicles. In urban areas with a high charging demand and little space, decision-makers are in need of planning tools that enable them to efficiently allocate financial and organizational resources to the promotion of electromobility. As with many other city planning tasks, simulations foster successful decision-making. This article presents a novel agent-based simulation framework for urban electromobility aimed at the analysis of charging station utilization and user behavior. The approach presented here employs a novel co-evolutionary learning model for adaptive charging behavior. The simulation framework is tested and verified by means of a case study conducted in the city of Munich. The case study shows that the presented approach realistically reproduces charging behavior and spatio-temporal charger utilization.

scholarly journals Discursive Strategies and Sequenced Institutional Change: The Case of Marriage Equality in the United States

2021 ◽  
pp. 003232172110205
Author(s):  
Giulia Mariani ◽  
Tània Verge
Keyword(s):  
United States ◽  
Institutional Change ◽  
The United States ◽  
Marriage Equality ◽  
Agent Based ◽  
Discursive Strategies ◽  
Policy Debates ◽  
The Status ◽  
Private Actors

Building on historical and discursive institutionalism, this article examines the agent-based dynamics of gradual institutional change. Specifically, using marriage equality in the United States as a case study, we examine how actors’ ideational work enabled them to make use of the political and discursive opportunities afforded by multiple venues to legitimize the process of institutional change to take off sequentially through layering, displacement, and conversion. We also pay special attention to how the discursive strategies deployed by LGBT advocates, religious-conservative organizations and other private actors created new opportunities to influence policy debates and tip the scales to their preferred policy outcome. The sequential perspective adopted in this study allows problematizing traditional conceptualizations of which actors support or contest the status quo, as enduring oppositional dynamics lead them to perform both roles in subsequent phases of the institutional change process.

scholarly journals Visualising Ostia’s Processional Landscape Through a Multi-Layered Computational Approach: Case Study of the Cult of the Magna Mater

2019 ◽  
Vol 5 (1) ◽  
pp. 444-467
Author(s):  
Katherine A. Crawford
Keyword(s):  
Network Analysis ◽  
Computational Approach ◽  
Urban Network ◽  
Agent Based ◽  
Agent Based Modelling ◽  
Existing Problems ◽  
Layered Approach ◽  
Religious Landscape ◽  
Insight Into

AbstractOstia, the ancient port of Rome, had a rich religious landscape. How processional rituals further contributed to this landscape, however, has seen little consideration. This is largely due to a lack of evidence that attests to the routes taken by processional rituals. The present study aims to address existing problems in studying processions by questioning what factors motivated processional movement routes. A novel computational approach that integrates GIS, urban network analysis, and agent-based modelling is introduced. This multi-layered approach is used to question how spectators served as attractors in the creation of a processional landscape using Ostia’s Campo della Magna Mater as a case study. The analysis of these results is subsequently used to gain new insight into how a greater processional landscape was created surrounding the sanctuary of the Magna Mater.

Pros and cons of time-dependent hybrid density functional approach to optical spectra of solids: a case study of CeO2

2021 ◽  
Author(s):  
Huai-Yang Sun ◽  
Shuo-Xue Li ◽  
Hong Jiang
Keyword(s):  
First Principles ◽  
Density Functional ◽  
Computational Cost ◽  
Optical Spectra ◽  
First Principles Calculation ◽  
Many Body ◽  
Many Body Perturbation Theory ◽  
Pros And Cons ◽  
Hybrid Density Functional

Prediction of optical spectra of complex solids remains a great challenge for first-principles calculation due to the huge computational cost of the state-of-the-art many-body perturbation theory based GW-Bethe Salpeter equation...

scholarly journals Toward Reverse Engineering to Economic Analysis: An Overview of Tools and Methodology

2021 ◽  
Author(s):  
Marisa Faggini ◽  
Bruna Bruno ◽  
Anna Parziale
Keyword(s):  
Complex System ◽  
Nonlinear Dynamics ◽  
Economic Analysis ◽  
Complex Systems ◽  
Reverse Engineering ◽  
Underlying Mechanism ◽  
Economic Data ◽  
Agent Based ◽  
Economic Agents ◽  
Advantages And Disadvantages

AbstractFollowing the reverse engineering (RE) approach to analyse an economic complex system is to infer how its underlying mechanism works. The main factors that condition the difficulty of RE are the number of variable components in the system and, most importantly, the interdependence of components on one another and nonlinear dynamics. All those aspects characterize the economic complex systems within which economic agents make their choices. Economic complex systems are adopted in RE science, and they could be used to understand, predict and model the dynamics of the complex systems that enable to define and to control the economic environment. With the RE approach, economic data could be used to peek into the internal workings of the economic complex system, providing information about its underling nonlinear dynamics. The idea of this paper arises from the aim to deepen the comprehension of this approach and to highlight the potential implementation of tools and methodologies based on it to treat economic complex systems. An overview of the literature about the RE is presented, by focusing on the definition and on the state of the art of the research, and then we consider two potential tools that could translate the methodological issues of RE by evidencing advantages and disadvantages for economic analysis: the recurrence analysis and the agent-based model (ABM).

“The Crooked Smile of TCR”: Banks’ Solvency and Restructuring Costs in the European Banking Industry

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110459
Author(s):  
Małgorzata Iwanicz-Drozdowska ◽  
Krzysztof Jackowicz ◽  
Maciej Karczmarczyk
Keyword(s):  
Probability Function ◽  
Bank Failure ◽  
Capital Adequacy ◽  
Special Importance ◽  
Stress Tests ◽  
Distribution Probability ◽  
Total Capital ◽  
European Banking ◽  
European Banks ◽  
Bank Restructuring

In this study, we analyze the probability of bank failure, the expected losses, and the costs of bank restructuring with the application of a lognormal distribution probability function for three categories of European banks, that is, small, medium, and large, over the post-crisis period from 2012 to 2016. Our goal was to determine whether the total capital ratio (TCR) properly reflects banks’ solvency under stress conditions. We identified a phenomenon that one can call the “crooked smile of TCR”. Medium-sized banks with relatively high TCRs performed poorly in stress tests; however, the probability of bank failure increases slightly with the size of the bank, while the TCR decreases. We claim that the focus on capital adequacy measures is not sufficient to achieve the goal of improving banks’ stability and reducing their restructuring costs. Our results are of special importance for medium-sized banks, as these banks are not regularly subjected to publicly available stress tests.

A Comparison between Agent-Based and GIS-Based Tsunami Evacuation Simulations: A Case Study for Tofino, BC

2021 ◽  
Author(s):  
Joseph Kim ◽  
Tomoyuki Takabatake ◽  
Ioan NISTOR ◽  
Tomoya Shibayama
Keyword(s):  
Information Systems ◽  
Geographical Information Systems ◽  
Mortality Rates ◽  
Geographical Information ◽  
Evacuation Planning ◽  
Loss Of Life ◽  
Agent Based ◽  
Agent Based Modelling ◽  
Validation Tool

Soft measures such as evacuation planning are recommended to mitigate the loss of life during tsunamis. Two types of evacuation models are widely used: (1) Agent-based modelling (ABM) defines sets of rules that individual agents in a simulation follow during a simulated evacuation. (2) Geographical information systems (GIS) are more accessible to city planners, but cannot incorporate the dynamic behaviours found in ABMs. The two evacuation modelling methodologies were compared through a case study by assessing the state of evacuation preparedness and investigating potential mitigation options. The two models showed different magnitudes for mortality rates and facility demand but had similar trends. Both models agreed on the best solution to reduce the loss of life for the community. GIS may serve as a useful tool for initial investigation or as a validation tool for ABMs. ABMs are recommended for use when modelling evacuation until GIS methodologies are further developed.

scholarly journals Polish Migration’s Socio-Cultural Impact on Wales in the Aftermath of 2004 – Preliminary Findings from Western Wales: An Aberystwyth Case Study

2016 ◽  
Vol 1 (1) ◽  
pp. 91-112 ◽  
Author(s):  
Paweł Wróbel
Keyword(s):  
Eu Enlargement ◽  
Cultural Impact ◽  
Migration Patterns ◽  
Distinctive Features ◽  
Polish Migration ◽  
History Of ◽  
Mutual Relations ◽  
The Uk ◽  
Adaptation Processes

AbstractThis papers looks at the societal and cultural impact of the post-2004 Polish migration to Wales. The history of Polish migration to the UK is introduced together with the relevant statistics and their rationale behind choosing cosmopolitan Wales as their new country of residence. Even though the focus of the paper is rather on the UK as a whole, it is Wales that is central to the investigation. Wales was particularly neglected in the study of migration in the aftermath of the 2004 European Union (EU) enlargement and surprisingly little attention was given to it. Focusing on Polish diaspora is important as it is the most numerous external migration wave to Wales (ONS 2011). The case study of Aberystwyth is introduced as a good example of a semi-urban area to which Poles migrated after 2004. Moreover, the paper elaborates on the characteristics of the Polish newcomers by analysing their distinctive features, migration patterns as well as adaptation processes. Mutual relations between post-1945 and post-2004 immigration waves are investigated, together with Poles’ own image and perception. This paper gives a deeper understanding and provides an insight into the nature of the Polish migrants’ impact on the cultural and societal life of Wales.

Sign in / Sign up

Export Citation Format

Share Document