Interbank markets and multiplex networks: centrality measures and statistical null models

The interbank market is considered one of the most important channels of contagion. Its network representation, where banks and claims/obligations are represented by nodes and links (respectively), has received a lot of attention in the recent theoretical and empirical literature, for assessing systemic risk and identifying systematically important financial institutions. Different types of links, for example in terms of maturity and collateralization of the claim/obligation, can be established between financial institutions. Therefore a natural representation of the interbank structure which takes into account more features of the market, is a multiplex, where each layer is associated with a type of link. In this paper we review the empirical structure of the multiplex and the theoretical consequences of this representation. We also investigate the betweenness and eigenvector centrality of a bank in the network, comparing its centrality properties across different layers and with Maximum Entropy null models.Comment: To appear in the book "Interconnected Networks", A. Garas e F. Schweitzer (eds.), Springer Complexity Serie

Multiplexity and multireciprocity in directed multiplexes

Real-world multi-layer networks feature nontrivial dependencies among links of different layers. Here we argue that, if links are directed, dependencies are twofold. Besides the ordinary tendency of links of different layers to align as the result of `multiplexity', there is also a tendency to anti-align as the result of what we call `multireciprocity', i.e. the fact that links in one layer can be reciprocated by \emph{opposite} links in a different layer. Multireciprocity generalizes the scalar definition of single-layer reciprocity to that of a square matrix involving all pairs of layers. We introduce multiplexity and multireciprocity matrices for both binary and weighted multiplexes and validate their statistical significance against maximum-entropy null models that filter out the effects of node heterogeneity. We then perform a detailed empirical analysis of the World Trade Multiplex (WTM), representing the import-export relationships between world countries in different commodities. We show that the WTM exhibits strong multiplexity and multireciprocity, an effect which is however largely encoded into the degree or strength sequences of individual layers. The residual effects are still significant and allow to classify pairs of commodities according to their tendency to be traded together in the same direction and/or in opposite ones. We also find that the multireciprocity of the WTM is significantly lower than the usual reciprocity measured on the aggregate network. Moreover, layers with low (high) internal reciprocity are embedded within sets of layers with comparably low (high) mutual multireciprocity. This suggests that, in the WTM, reciprocity is inherent to groups of related commodities rather than to individual commodities. We discuss the implications for international trade research focusing on product taxonomies, the product space, and fitness/complexity metrics.Comment: 20 pages, 8 figure

Entropy concepts and DNA investigations

Topological and metric entropies of the DNA sequences from different organisms were calculated. Obtained results were compared each other and with ones of corresponding artificial sequences. For all envisaged DNA sequences there is a maximum of heterogeneity. It falls in the block length interval [5,7]. Maximum distinction between natural and artificial sequences is shifted on 1-3 position from the maximum of heterogeneity to the right as for metric as for topological entropy. This point on the specificity of real DNA sequences in the interval.Comment: 10 pages 7 figures submitted to PL

Agents, Bookmarks and Clicks: A topical model of Web traffic

Analysis of aggregate and individual Web traffic has shown that PageRank is a poor model of how people navigate the Web. Using the empirical traffic patterns generated by a thousand users, we characterize several properties of Web traffic that cannot be reproduced by Markovian models. We examine both aggregate statistics capturing collective behavior, such as page and link traffic, and individual statistics, such as entropy and session size. No model currently explains all of these empirical observations simultaneously. We show that all of these traffic patterns can be explained by an agent-based model that takes into account several realistic browsing behaviors. First, agents maintain individual lists of bookmarks (a non-Markovian memory mechanism) that are used as teleportation targets. Second, agents can retreat along visited links, a branching mechanism that also allows us to reproduce behaviors such as the use of a back button and tabbed browsing. Finally, agents are sustained by visiting novel pages of topical interest, with adjacent pages being more topically related to each other than distant ones. This modulates the probability that an agent continues to browse or starts a new session, allowing us to recreate heterogeneous session lengths. The resulting model is capable of reproducing the collective and individual behaviors we observe in the empirical data, reconciling the narrowly focused browsing patterns of individual users with the extreme heterogeneity of aggregate traffic measurements. This result allows us to identify a few salient features that are necessary and sufficient to interpret the browsing patterns observed in our data. In addition to the descriptive and explanatory power of such a model, our results may lead the way to more sophisticated, realistic, and effective ranking and crawling algorithms.Comment: 10 pages, 16 figures, 1 table - Long version of paper to appear in Proceedings of the 21th ACM conference on Hypertext and Hypermedi

Increased signaling entropy in cancer requires the scale-free property of protein interaction networks

One of the key characteristics of cancer cells is an increased phenotypic plasticity, driven by underlying genetic and epigenetic perturbations. However, at a systems-level it is unclear how these perturbations give rise to the observed increased plasticity. Elucidating such systems-level principles is key for an improved understanding of cancer. Recently, it has been shown that signaling entropy, an overall measure of signaling pathway promiscuity, and computable from integrating a sample's gene expression profile with a protein interaction network, correlates with phenotypic plasticity and is increased in cancer compared to normal tissue. Here we develop a computational framework for studying the effects of network perturbations on signaling entropy. We demonstrate that the increased signaling entropy of cancer is driven by two factors: (i) the scale-free (or near scale-free) topology of the interaction network, and (ii) a subtle positive correlation between differential gene expression and node connectivity. Indeed, we show that if protein interaction networks were random graphs, described by Poisson degree distributions, that cancer would generally not exhibit an increased signaling entropy. In summary, this work exposes a deep connection between cancer, signaling entropy and interaction network topology.Comment: 20 pages, 5 figures. In Press in Sci Rep 201

Quantifying the interdisciplinarity of scientific journals and fields

There is an overall perception of increased interdisciplinarity in science, but this is difficult to confirm quantitatively owing to the lack of adequate methods to evaluate subjective phenomena. This is no different from the difficulties in establishing quantitative relationships in human and social sciences. In this paper we quantified the interdisciplinarity of scientific journals and science fields by using an entropy measurement based on the diversity of the subject categories of journals citing a specific journal. The methodology consisted in building citation networks using the Journal Citation Reports database, in which the nodes were journals and edges were established based on citations among journals. The overall network for the 11-year period (1999-2009) studied was small-world and scale free with regard to the in-strength. Upon visualizing the network topology an overall structure of the various science fields could be inferred, especially their interconnections. We confirmed quantitatively that science fields are becoming increasingly interdisciplinary, with the degree of interdisplinarity (i.e. entropy) correlating strongly with the in-strength of journals and with the impact factor.Comment: 23 pages, 6 figure