Governance and Control of Financial Systems

Abstract

Contents: Prologue The turmoil in the financial services system, Gunilla SundstrA m and Erik Hollnagel Section I Understanding Why: the Need for New Perspectives: Gunilla SundstrA m and Erik Hollnagel What is the financial services system?, Gunilla SundstrA m and Erik Hollnagel A dynamic systems modelling perspective, Gunilla SundstrA m and Erik Hollnagel From the efficient market hypothesis to econophysics, Bill McKelvey and Rossitsa Yalamova. Section II Understanding What: Making Sense of Unpredictable Events and Developments: Erik Hollnagel and Gunilla SundstrA m The 2007 liquidity crisis: an example of scalability dynamics in action, Bill McKelvey and Rossitsa Yalamova Taming manias: on the origins, inevitability, prediction and regulation of bubbles and crashes, Jeff Satinover and Didier Sornette Using power laws and the Hurst exponent to identify stock market trading bubbles, Rossitsa Yalamova and Bill McKelvey. Section III Understanding How: Turning Financial Services Systems into Resilient Systems: Erik Hollnagel and Gunilla SundstrA m Balancing different modes of uncertainty management in the financial services industry, Gudela Grote Financial resilience engineering: toward automatic action formulas against risk and reckless endangerment, Bill McKelvey and Rossitsa Yalamova The ability to regulate, govern and control financial systems, Gunilla SundstrA m and Erik Hollnagel Epilogue: financial markets and the law of requisite variety, Erik Hollnagel and Gunilla SundstrA m References Indexes.