Teruyoshi Kobayashi

Trading activities in financial systems create various channels through which systemic risk can propagate. An important contagion channel is financial fire sales, where a bank failure causes asset prices to fall due to asset liquidation, which in turn drives further bank defaults, triggering the next rounds of liquidation.

Abstract Information and individual activities often spread globally through the network of social ties. While social contagion phenomena have been extensively studied within the framework of threshold models, it is common to make an assumption that may be violated in reality: each individual can observe the neighbors' states without error. Here, we analyze the dynamics of global cascades under uncertainty in an otherwise standard threshold model.

Abstract The adjacency matrix is the most fundamental and intuitive object in graph analysis that is useful not only mathematically but also for visualizing the structures of graphs. Because the appearance of an adjacency matrix is critically affected by the ordering of rows and columns, or vertex ordering, statistical assessment of graphs together with their vertex sequences is important in identifying the characteristic structures of graphs.