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SUMMARY:Stability and complexity in model banking systems - May\, R (Oxfor
 d)
DTSTART:20110615T123000Z
DTEND:20110615T131500Z
UID:TALK31737@talks.cam.ac.uk
CONTACT:Mustapha Amrani
DESCRIPTION:The recent banking crises have made it clear that increasingly
  complex strategies for managing risk in individual banks and investment f
 unds (pension funds\, etc) has not been matched by corresponding attention
  to overall systemic risks.  Simple mathematical caricatures of "banking e
 cosystems"\, which capture some of the essential dynamics and which have s
 ome parallels (along with significant differences) with earlier work on st
 ability and complexity in ecological food webs\, have interesting implicat
 ions.  In particular\, strategies that tend to minimise risk for individua
 l banks can - under certain circumstances - maximise the probability of sy
 stemic failure. This talk will first sketch these models and then discuss 
 some of the ensuing conclusions.\n
LOCATION:Seminar Room 1\, Newton Institute
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