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Systemic Risks in Society and Economics

  • Dirk Helbing
Chapter
Part of the Understanding Complex Systems book series (UCS)

Abstract

This contribution presents a summary of sources and drivers of systemic risks in socio-economic systems and related governance issues. The analysis is based on the theory of complex systems and illustrated by numerous examples, including financial market instability. Typical misunderstandings regarding the behavior and functioning of socio-economic systems will be addressed, and some current threats for the stability of social and economic systems are pointed out.

Keywords

Traffic Flow Systemic Risk Credit Default Swap System Element Interbank Market 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Notes

Acknowledgements

This work was partially supported by the ETH Competence Center “Coping with Crises in Complex Socio-Economic Systems” (CCSS) through ETH Research Grant CH1-01 08-2. The author would like to thank Peter Felten for creating many of the illustrations shown in this contribution. Furthermore, the author is grateful for inspiring discussions with Kay Axhausen, Stefano Battiston, Lubos Buzna, Lars-Erik Cederman, Hans Herrmann, Imre Kondor, Matteo Marsili, Frank Schweitzer, Didier Sornette, Stefan Thurner, and many others.

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© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Dirk Helbing
    • 1
  1. 1.CLU E1ETH ZurichZurichSwitzerland

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