{"id":626,"date":"2015-04-10T13:00:28","date_gmt":"2015-04-10T12:00:28","guid":{"rendered":"http:\/\/mathfinance.sns.it\/new_site\/?p=626"},"modified":"2015-07-17T13:48:24","modified_gmt":"2015-07-17T12:48:24","slug":"joao-da-gama-batista-sudden-trust-collapse-in-networked-societies","status":"publish","type":"post","link":"http:\/\/mathfinance.sns.it\/index.php\/joao-da-gama-batista-sudden-trust-collapse-in-networked-societies\/","title":{"rendered":"Joao da Gama Batista, \u201cSudden trust collapse in networked  societies\u201d"},"content":{"rendered":"<p style=\"text-align: center;\"><span lang=\"IT\">Friday\u00a0April 10<span style=\"font-size: 12px; line-height: 0px;\">\u00a0<\/span>\u00a02015<\/span><br \/>\n13.00<br \/>\nScuola Normale Superiore<br \/>\nAula\u00a0Bianchi<\/p>\n<p style=\"text-align: center;\"><b>Joao da Gama Batista<br \/>\n<\/b>Laboratoire de math\u00e9matiques appliqu\u00e9es aux syst\u00e8mes &#8211;\u00a0\u00c9cole Centrale de Paris<\/p>\n<p style=\"text-align: center;\" align=\"center\"><strong><span lang=\"EN-GB\">Abstract<br \/>\n<\/span><\/strong>Trust is a collective, self-fulfilling phenomenon that suggests analogies with phase transitions. We introduce a stylized model for the build-up and collapse of trust in networks, which generically displays a first order transition. The basic assumption of our model is that whereas trustworthiness begets trustworthiness, panic also begets panic, in the sense that a small decrease in trustworthiness may be amplified and ultimately lead to a sudden and catastrophic drop of collective trust. We show, using both numerical simulations and mean-field analytic arguments, that there are extended regions of the parameter space where two equilibrium states coexist: a well-connected network where global confidence is high, and a poorly connected network where global confidence is low. In these coexistence regions, spontaneous jumps from the well-connected state to the poorly connected state can occur, corresponding to a sudden collapse of trust that is not caused by any major external catastrophe. In large systems, spontaneous crises are replaced by history dependence: whether the system is found in one state or in the other essentially depends on initial conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friday\u00a0April 10\u00a0\u00a02015 13.00 Scuola Normale Superiore Aula\u00a0Bianchi Joao da Gama Batista Laboratoire de math\u00e9matiques appliqu\u00e9es aux syst\u00e8mes &#8211;\u00a0\u00c9cole Centrale de Paris Abstract Trust is a collective, self-fulfilling phenomenon that suggests analogies with phase transitions. We introduce a stylized model for the build-up and collapse of trust in networks, which generically displays a first order transition. [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/626"}],"collection":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/comments?post=626"}],"version-history":[{"count":2,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/626\/revisions"}],"predecessor-version":[{"id":650,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/626\/revisions\/650"}],"wp:attachment":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/media?parent=626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/categories?post=626"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/tags?post=626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}