This paper investigates the adaptation of cooperating strategies in an iterated prisoner's dilemma (IPD) game with individually learning agents, subject to the structure of the interaction network. In particular, we study how cooperation or defection comes to dominate the population on...

This study investigates the relevance of network topology for the stability of payment systems in the face of operational shocks. The analysis is based on a large number of simulations of the Austrian large-value payment system ARTIS that quantify the contagion impact of operational shocks at...

The emergence and institutionalization of cooperation in sizable groups without reciprocity receives considerable attention in game-theoretical modeling. Agents in our study play the Prisoner’s Dilemma game cooperating with tolerably similar neighbors. They may imitate cultural markers...

This paper analyses the network structure of the credit default swap (CDS) market, using a unique sample of counterparties’ bilateral notional exposures to CDS on 642 sovereign and financial reference entities. We study the network structure, similarly to the literature on interbank and...

Purpose – This paper aims to propose a logistical network design framework with robustness and complexity considerations. Design/methodology/approach – The paper defines robustness, complexity, and normalised efficiency of a logistical network. A mathematical model is then constructed based...

The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept...

We provide a detailed classification of core and non-core liabilities for the Turkish banking system à laShin and Shin (2010). We further carry out a two-stage liquidity stress test similar to Van Den End (2010) where we simulate inflow and outflow factors as well as the network topology of...

Purpose – The purpose of this paper is to show that there are many sources to quality, not just the supplier; that quality is a complex concept which must be balanced against productivity and profits; that quality has to be considered within a network of relationships and contributions; and...

With mission critical web applications and resources being hosted on cloud environments, and cloud services growing fast, the need for having greater level of service assurance regarding fault tolerance for availability and reliability has increased. The high priority now is ensuring a fault...