Tipping Points Events
Herding, innovations and tipping points in financial systems
We have become acutely aware of the modern complexity of financial systems, with seemingly increasing potential for events cascading from unexpected, minor causes. As recent 'ecosystem' models of banking demonstrate, unpredictability and flux are the essence of evolution among highly interconnected agents. This workshop will explore models and historical approaches, treating banks as interconnected agents rather than isolated, rationally-acting units, which naturally bring about the essential element of flux and unpredictability in financial systems. Thinking more probabilistically, we aim to consider the historical processes and patterns in the spread of financial innovation and evolution.
The Centre for the Coevolution of Biology and Culture is a co-sponsor of this event.
25 minute presentations, each with 10 minutes for questions
09.00 David Petley, Durham University, Tipping Points Director Welcome
09.10 Alex Bentley, Durham University, Tipping Points Deputy Director
09.35 Mark Buchanan, Tipping Points Steering Committee.
Is financial prediction like weather prediction?
10.10 Paul Ormerod, Volterra consulting and Durham University
21st century rationality: models of herding and innovation
Modelling financial activity
11.15 Didier Sornette, ETH Zürich
The financial crisis observatory: diagnosing financial bubbles and predicting financial crashes
11.50 Stefan Thurner, Section for Science of Complex Systems, Medical University of Vienna
Financial cascades and clustered volatility
12.25 Rich Colbaugh and Kristin Glass, Sandia National Laboratories, USA Predictability of markets: What can network topology tell us?
The Banking world
14.00 Ranald Michie and Simon Mollan, Durham University
Financial innovation in historical context
14.35 Roman Tomasic and Folarin Akinbami, Durham University Regulating financial activity
Ian Bond, Former Head of Financial Crisis Management Division, Bank of England
Contact email@example.com for more information about this event.