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BEGIN:VEVENT
DTSTAMP:20260815T092849Z
LAST-MODIFIED:20140130T151324Z
DTSTART:20140131T173000Z
DTEND:20140131T220000Z
UID:event1241@bu.edu
URL:http://physics.bu.edu/internal/events/show/1241
SUMMARY:Dissipative Dynamics in Financial Networks
DESCRIPTION:Featuring Nima Dehmamy\n\nPart of the Preliminary Oral Exam.\n\
	nExamining Committee: Professors Gene Stanley\, Irena Vodenska\, Tulika Bos
	e\, William Skocpol\n\nAbstract:\n\nWe have devised a model for the dynamic
	s of bipartite network of banks vs assets near equilibrium which suggests t
	hat the  dynamics of this system can be mapped to a dissipative dynamical s
	ystem. In particular we identify the criteria under which the network would
	 be a closed system and non-dissipative by finding the Lagrangian terms tha
	t yield the proposed dynamical equations. As in principle there can be many
	 other players in the actual network of which we do not have precise knowle
	dge (i.e. the known network could be part of a bigger system) we modify the
	 Lagragian dynamics by adding dissipation to it. The dissipative terms assu
	me a mean field value for the effects of the unknown parts of the network. 
	We also argue that to lowest order\, our model is close to the most general
	 model that can be written down for such a system. Another goal of this wor
	k was to assess the systemic importance of the banks in the network. We arg
	ue that because our network is highly dynamic a dynamic measure of centrali
	ty is needed. We define one such measure\, which we refer to as BankRank\, 
	related to the rate of loss of money in the system due to failure of each b
	ank. We use the Pearson correlation of BankRank with asset values as an ord
	er parameter and find that the model has a rich phase diagram with a few ph
	ase transitions. As a side\, we also find that there are many metastable re
	gions which are separated by sharp walls. The walls are related to communit
	ies. and each community has almost the same value of BankRank. \n\n![Nima](
	/resources/event-image/1241/a79d6d1_small)\n![Nima](/resources/event-image/
	1241/03bab10_small)
LOCATION:PRB 365\, 3 Cummington Mall\, 02215
STATUS:CONFIRMED
CLASS:PUBLIC
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