OPEN SYSTEMS, PLATICAS EN EL CIC, FEBRERO

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NOS ES GRATO INVITARLOS A  LAS PLATICAS QUE SE ESTAN LLEVANDO A CABO EN EL
CIC. A.C

Gone with the wind - Risks of waves, wind and finance
Centro Internacional de Ciencias A.C
Salon de Seminarios

LUNES 18 DE FEBRERO
12:00
Credits and the Instability of the Financial System:
a Physicist's Point of View


Thomas Guhr,
Universitaet Duisburg-Essen,
Duisburg
Germany




17:00


"Statistics of branching and intensity fluctuations in classical and wave
flows"
Jakob Metzger
Max-Planck-Institut für Dynamik und Selbstorganisation
Göttingen




Abstract of the noon talk:


In the last fifteen to twenty years, a growing number
of physicists became interested in the economy, particularly
in the financial system. "Econophysics" emerged
as a new field of research. I discuss this development
in general and then turn to an issue which continues
to hit the news: credit contracts, their risk, and the
obvious severe instabilites caused for the
world economy as a whole.


It is often claimed, particularly by financial institutions,
that the risk involved with credits can be substantially
lowered by diversification, i.e. by distributing it. I use
a "microscopic" model to show that this very concept
is deeply flawed. The study is carried out with numerical
simulations, but also semi-analytically by employing
random matrices which are a powerful tool in the theory
of complex and chaotic systems.


I start from scratch! - Background in economics is not needed!






SALUDOS

ATENTAMENTE

CP CINZIA OCAMPO
ADMINISTRADORA  CIC A.C