dorsal/arxiv
View SchemaProduction networks and failure avalanches
| Authors | Gerard Weisbuch, Stefano Battiston |
|---|---|
| Categories | |
| ArXiv ID | physics/0507101 |
| URL | https://arxiv.org/abs/physics/0507101 |
Abstract
Although standard economics textbooks are seldom interested in production networks, modern economies are more and more based upon suppliers/customers interactions. One can consider entire sectors of the economy as generalised supply chains. We will take this view in the present paper and study under which conditions local failures to produce or simply to deliver can result in avalanches of shortage and bankruptcies across the network. We will show that a large class of models exhibit scale free distributions of production and wealth among firms and that metastable regions of high production are highly localised.
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"abstract": "Although standard economics textbooks are seldom interested in production\nnetworks, modern economies are more and more based upon suppliers/customers\ninteractions. One can consider entire sectors of the economy as generalised\nsupply chains. We will take this view in the present paper and study under\nwhich conditions local failures to produce or simply to deliver can result in\navalanches of shortage and bankruptcies across the network. We will show that a\nlarge class of models exhibit scale free distributions of production and wealth\namong firms and that metastable regions of high production are highly\nlocalised.",
"arxiv_id": "physics/0507101",
"authors": [
"Gerard Weisbuch",
"Stefano Battiston"
],
"categories": [
"physics.soc-ph",
"cond-mat.stat-mech",
"q-fin.GN"
],
"title": "Production networks and failure avalanches",
"url": "https://arxiv.org/abs/physics/0507101"
},
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