Systems are collections of objects exhibiting joint behaviour. Sometimes this behaviour is anticipated, sometimes not. We have studied a number of types of complex systems and their failures, including electricity supply grids, motorways, the financial system, and air traffic control. We argue that the resilience properties of such systems are largely emergent. We illustrate the thesis through ...

• health: physical and mental health, public health issues; • education: including low educational attainment and skill levels; • employment: low status and precarious employment, worklessness and low levels of employability; • behaviour: inhibiting and anti-social behaviour including crime, smoking, substance misuse and suicide; • financial: income, assets and material hardship; • family and p...

382 ©2014 Society for Biomaterials

In this paper we study the detailed distributional properties of integrated non-Gaussian OU (intOU) processes. Both exact and approximate results are given. We emphasise the study of the tail behaviour of the intOU process. Our results have many potential applications in financial economics, for OU processes are used as models of instantaneous volatility in stochastic volatility (SV) models. In...

The financial incentives offered by the risk-based pricing of insurance can stimulate policyholder adaptation to flood risk while potentially conflicting with affordability. We examine the trade-off between risk reduction and affordability in a model of public-private flood insurance in France and Germany estimating household flood adaptation decisions in response to financial insurance incenti...

Within stock exchanges, trading volume and asset price are considered to be vastly volatile, whereas the effective prediction towards them provides constructive advice for financial practitioners. Meanwhile, due to the fast encroachment of information technology into every level of life, financial news holds its very importance in affecting as well as evaluating the market behaviour. It has bee...

Undergraduate students should be able to manage their finances wisely while they are living apart from parents. Therefore, good financial literacy and attitude developed during college instil positive behaviour. It is a cross-country study analyse the influence of toward behaviour amongst Indonesian Malaysian undergraduate students. This research involved 204 Faculty Human Ecology, IPB Universi...

Algorithmic trading strategies are most often evaluated by running against historical data and observing the results. This limits the evaluation scenarios to situations similar to those for which historical data is available. In order to evaluate high frequency trading systems in a broader setting, a different approach is required. This paper presents an agent-based financial market simulator t...

There is an increasing trend towards global financial consolidation. Empirical evidence has shown that though consolidation can promote market efficiency, it can also increase systemic risk. Therefore, understanding the effects of company mergers on the financial markets is an increasingly pertinent issue. This paper presents a multi-market agent-based model of endogenous merger formation, cons...

Genes can affect behaviour towards risks through at least two distinct neurocomputational mechanisms: they may affect the value assigned to different risky options, or they may affect the way in which the brain adjudicates between options based on their value. We combined methods from neuroeconomics and behavioural genetics to investigate the impact that the genes encoding for monoamine oxidase...