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Towards Understanding Dynamic Complexity in Financial Systems Structure-based Explanatory Modelling of Risks

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  • Christian Hugo Hoffmann

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  • Christian Hugo Hoffmann, 2017. "Towards Understanding Dynamic Complexity in Financial Systems Structure-based Explanatory Modelling of Risks," Systems Research and Behavioral Science, Wiley Blackwell, vol. 34(6), pages 728-745, November.
    • Handle: RePEc:bla:srbeha:v:34:y:2017:i:6:p:728-745
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    File URL: http://hdl.handle.net/10.1002/sres.2414
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    1. Ricardo J. Caballero & Alp Simsek, 2009. "Complexity and Financial Panics," NBER Working Papers 14997, National Bureau of Economic Research, Inc.
    2. Edoardo Gaffeo & Roberto Tamborini, 2011. "If the Financial System Is Complex, How Can We Regulate It?," International Journal of Political Economy, Taylor & Francis Journals, vol. 40(2), pages 79-97.
    3. Lux, Thomas, 1998. "The socio-economic dynamics of speculative markets: interacting agents, chaos, and the fat tails of return distributions," Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 143-165, January.
    4. Neil Johnson & Guannan Zhao & Eric Hunsader & Jing Meng & Amith Ravindar & Spencer Carran & Brian Tivnan, 2012. "Financial black swans driven by ultrafast machine ecology," Papers 1202.1448, arXiv.org.
    5. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
    6. Martin Hellwig, 2009. "Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis," De Economist, Springer, vol. 157(2), pages 129-207, June.
    7. Anat Admati & Martin Hellwig, 2013. "The Bankers' New Clothes: What's Wrong with Banking and What to Do about It," Economics Books, Princeton University Press, edition 1, volume 1, number 9929.
    8. Riccardo Rebonato, 2007. "Introduction to Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently," Introductory Chapters, in: Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently, Princeton University Press.
    9. Francis X. Diebold & Neil A. Doherty & Richard J. Herring, 2010. "The Known, the Unknown, and the Unknowable in Financial Risk Management: Measurement and Theory Advancing Practice," Economics Books, Princeton University Press, edition 1, number 9223.
    10. Andreas Hieronymi, 2013. "Understanding Systems Science: A Visual and Integrative Approach," Systems Research and Behavioral Science, Wiley Blackwell, vol. 30(5), pages 580-595, September.
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    12. René M. Stulz, 2008. "Risk Management Failures: What Are They and When Do They Happen?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 20(4), pages 39-48, September.
    13. Allen, Franklin & Gale, Douglas, 2009. "Understanding Financial Crises," OUP Catalogue, Oxford University Press, number 9780199251421.
    14. Philip Anderson, 1999. "Perspective: Complexity Theory and Organization Science," Organization Science, INFORMS, vol. 10(3), pages 216-232, June.
    15. Mikes, Anette, 2011. "From counting risk to making risk count: Boundary-work in risk management," Accounting, Organizations and Society, Elsevier, vol. 36(4), pages 226-245.
    16. Godfrey Cadogan, 2014. "Chaos in a Large System of Decision‐Makers with Heterogeneous Beliefs with Application to Index Option Prices," Systems Research and Behavioral Science, Wiley Blackwell, vol. 31(4), pages 487-501, July.
    17. Stefan Thurner & Sebastian Poledna, 2013. "DebtRank-transparency: Controlling systemic risk in financial networks," Papers 1301.6115, arXiv.org.
    18. Sterman, John., 1994. "Learning in and about complex systems," Working papers 3660-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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    Cited by:

    1. Wendy L Currie & Jonathan J J M Seddon & Ben van Vliet, 2022. "From decision optimization to satisficing: Regulation of automated trading in the US financial markets," Post-Print hal-03839100, HAL.
    2. Christian Hugo Hoffmann & Charles Djordjevic, 2020. "Complexity, Power Laws and a Humean Argument in Risk Management: The Fundamental Inadequacy of Probability Theory as a Foundation for Modeling Complex Risk in Banking," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 37(3), pages 155-182, December.
    3. Ben Van Vliet, 2019. "A Behavioural Approach To The Lean Startup/Minimum Viable Product Process: The Case Of Algorithmic Financial Systems," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 1-30, May.

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