Topic: "Physics of Risk: The more physics, the less risk"

Speaker: Aleksejus Kononovicius

Briefly: I will talk about the complexity of socio-economic systems and how physicists (and not only physicists) attempt to understand, describe and explain it. I will present some of the research done worldwide and also research done at VU ITPA.

When? 6th of November, 19:00

Where? Cafe "Savas Kampas" (Vokiečių st. 4, Vilnius)

Organized by: VU Faculty of Physics Students Scientific Association

Facebook event: here

Slides: Download (without video; Lithuanian)

US based business and technology news website "Business Insider" reports that "They finally tested the prisoner's dilemma on actual prisoners - and the results were not what you would expect"! Read more on businessinsider.com »

Rare events tend to make our everyday lives somewhat more complicated. The problem is that usually those event are unavoidable, but the nice thing is that they are extremely rare. In certain system some small deviations, which occur more frequently than the aforementioned "rare events", may be amplified in a way to cause a catastrophe. The financial markets are on of such systems - they are intrinsically highly complex. The article developing these ideas was published by ekonomika.lt on technologijos.lt, thus we would like to suggest reading it (though note that the article is written in Lithuanian).

Read the article by ekonomika.lt on technologijos.lt »,

Previously we have written about the Barabasi-Albert model. In the text we have mentioned that scale-free networks are also ultra small world networks. This time we invite you to familiarize yourself with the empirical work done by the A. L. Barabasi himself in which he made interesting discoveries about the World Wide Web.

Read the article "Any Two Pages on the Web Are Connected By 19 Clicks or Less" on the smithsonian.com »

Do you remember a talk "Who controls the world? " given by J. B. Glatterfelder on the ted.com website? If not, you could go ant watch now or rely on us. As far as we remember the key point behind the talk is a scientific discovery of a fact that few hundred of large financial institutions control majority of the smaller financial institutions all around the world. Interestingly enough these large financial institutions also control each other! In this text we will give some examples which will show that similar network topology may form not only due to the conspiracy of these institutions, but also due to the other reasons.

Thus in this text we continue our topic on the network formation models. This time we will be interested in the so-called core-periphery network formation models, which will grow networks with well pronounced core and periphery.