This paper provides evidence that interbank markets are tiered rather than flat, in the sense
that most banks do not lend to each other directly but through money center banks acting as …

The purpose of this essay is to explore the relationship between the simple and the complex
in economics by anchoring our analysis on bounded rationality. Much of the conventional …

This paper provides evidence that interbank markets are tiered rather than flat, in the sense
that most banks do not lend to each other directly but through money center banks acting as …

Financial network analysis is used to provide firm level bottom-up holistic visualizations of
interconnections of financial obligations in global OTC derivatives markets. This helps to …

Complexity science and its methodological applications have increased in popularity in
social science during the last two decades. One key concept within complexity science is …

Credit default swaps (CDS) which constitute up to 98 of credit derivatives have had a
unique, endemic and pernicious role to play in the current financial crisis. However, there …

The global pandemic triggered by the SARS-CoV-2 virus has caused marked changes in the
economic landscape in essentially every branch of the economy. The pandemic has …

Systemic risk from financial intermediaries (FIs) refers to a negative externality problem,
which is rife with fallacy of composition-type errors. To 'see'why seemingly rational …

Individuals often develop reluctance to change their social relations, called “secondary
homebody”, even though their interactions with their environment evolve with time. Some …

Addressing issues of social diversity, we introduce a model of housing transactions between
agents who are heterogeneous in their willingness to pay. A key assumption is that agents' …