Do portfolio shifts by the world's largest asset owners respond procyclically to past returns, or countercyclically to valuations? And if countercyclical investment (with both market-stabilizing and return-generating properties) is a public and private good, how might asset owners be empowered...

Recent economic crises like the 2008 financial tsunami has demonstrated a critical need for better understanding of the topologies and various economic, social, and technical mechanisms of the increasingly interconnected global financial system. Such a system largely relies on the...