| Title |
The price of complexity in financial networks
|
|---|---|
| Published in |
Proceedings of the National Academy of Sciences of the United States of America, August 2016
|
| DOI | 10.1073/pnas.1521573113 |
| Pubmed ID | |
| Authors |
Stefano Battiston, Guido Caldarelli, Robert M. May, Tarik Roukny, Joseph E. Stiglitz |
| Abstract |
Financial institutions form multilayer networks by engaging in contracts with each other and by holding exposures to common assets. As a result, the default probability of one institution depends on the default probability of all of the other institutions in the network. Here, we show how small errors on the knowledge of the network of contracts can lead to large errors in the probability of systemic defaults. From the point of view of financial regulators, our findings show that the complexity of financial networks may decrease the ability to mitigate systemic risk, and thus it may increase the social cost of financial crises. |
X Demographics
The data shown below were collected from the profiles of 98 X users who shared this research output. Click here to find out more about how the information was compiled.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| United States | 11 | 11% |
| Italy | 8 | 8% |
| Spain | 7 | 7% |
| United Kingdom | 5 | 5% |
| Germany | 4 | 4% |
| France | 3 | 3% |
| Finland | 3 | 3% |
| Mexico | 3 | 3% |
| Canada | 2 | 2% |
| Other | 15 | 15% |
| Unknown | 37 | 38% |
Demographic breakdown
| Type | Count | As % |
|---|---|---|
| Members of the public | 61 | 62% |
| Scientists | 33 | 34% |
| Science communicators (journalists, bloggers, editors) | 3 | 3% |
| Practitioners (doctors, other healthcare professionals) | 1 | 1% |
Mendeley readers
The data shown below were compiled from readership statistics for 203 Mendeley readers of this research output. Click here to see the associated Mendeley record.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| Switzerland | 3 | 1% |
| United States | 2 | <1% |
| Italy | 1 | <1% |
| Russia | 1 | <1% |
| Luxembourg | 1 | <1% |
| Unknown | 195 | 96% |
Demographic breakdown
| Readers by professional status | Count | As % |
|---|---|---|
| Student > Ph. D. Student | 48 | 24% |
| Researcher | 40 | 20% |
| Other | 13 | 6% |
| Professor | 13 | 6% |
| Student > Doctoral Student | 11 | 5% |
| Other | 39 | 19% |
| Unknown | 39 | 19% |
| Readers by discipline | Count | As % |
|---|---|---|
| Economics, Econometrics and Finance | 53 | 26% |
| Computer Science | 12 | 6% |
| Physics and Astronomy | 12 | 6% |
| Business, Management and Accounting | 11 | 5% |
| Agricultural and Biological Sciences | 10 | 5% |
| Other | 58 | 29% |
| Unknown | 47 | 23% |
Attention Score in Context
This research output has an Altmetric Attention Score of 95. This is our high-level measure of the quality and quantity of online attention that it has received. This Attention Score, as well as the ranking and number of research outputs shown below, was calculated when the research output was last mentioned on 13 March 2023.
All research outputs
#454,919
of 25,743,152 outputs
Outputs from Proceedings of the National Academy of Sciences of the United States of America
#8,033
of 103,644 outputs
Outputs of similar age
#8,762
of 355,439 outputs
Outputs of similar age from Proceedings of the National Academy of Sciences of the United States of America
#141
of 915 outputs
Altmetric has tracked 25,743,152 research outputs across all sources so far. Compared to these this one has done particularly well and is in the 98th percentile: it's in the top 5% of all research outputs ever tracked by Altmetric.
So far Altmetric has tracked 103,644 research outputs from this source. They typically receive a lot more attention than average, with a mean Attention Score of 39.6. This one has done particularly well, scoring higher than 92% of its peers.
Older research outputs will score higher simply because they've had more time to accumulate mentions. To account for age we can compare this Altmetric Attention Score to the 355,439 tracked outputs that were published within six weeks on either side of this one in any source. This one has done particularly well, scoring higher than 97% of its contemporaries.
We're also able to compare this research output to 915 others from the same source and published within six weeks on either side of this one. This one has done well, scoring higher than 84% of its contemporaries.