Statistical fluctuations in pedestrian evacuation times and the effect of social contagion

Mathematical models of pedestrian evacuation and the associated simulation software have become essential tools for the assessment of the safety of public facilities and buildings. While a variety of models are now available, their calibration and test against empirical data are generally restricted to global, averaged quantities, the statistics compiled from the time series of individual escapes (" microscopic " statistics) measured in recent experiments are thus overlooked. In the same spirit, much research has primarily focused on the average global evacuation time, whereas the whole distribution of evacuation times over some set of realizations should matter. In the present paper we propose and discuss the validity of a simple relation between this distribution and the " microscopic " statistics, which is theoretically valid in the absence of correlations. To this purpose, we develop a minimal cellular automaton, with novel features that afford a semi-quantitative reproduction of the experimental " microscopic " statistics. We then introduce a process of social contagion of impatient behavior in the model and show that the simple relation under test may dramatically fail at high contagion strengths, the latter being responsible for the emergence of strong correlations in the system. We conclude with comments on the potential practical relevance for safety science of calculations based on " microscopic " statistics

Competition and dual users in complex contagion processes

We study the competition of two spreading entities, for example innovations, in complex contagion processes in complex networks. We develop an analytical framework and examine the role of dual users, i.e. agents using both technologies. Searching for the spreading transition of the new innovation and the extinction transition of a preexisting one, we identify different phases depending on network mean degree, prevalence of preexisting technology, and thresholds of the contagion process. Competition with the preexisting technology effectively suppresses the spread of the new innovation, but it also allows for phases of coexistence. The existence of dual users largely modifies the transient dynamics creating new phases that promote the spread of a new innovation and extinction of a preexisting one. It enables the global spread of the new innovation even if the old one has the first-mover advantage.Comment: 9 pages, 4 figure

Cross-Border Information Transfers: Evidence from Profit Warnings Issued by European Firms

This paper reports evidence on cross-border accounting information transfers associated with profit warning announcements. Using a sample of firms from 29 European countries, we find that negative earnings surprises disclosed by firms in one country affect investors’ perceptions of comparable nonannouncing firms in other countries. The form and magnitude of cross-border effects is consistent with domestic transfers. Tests explaining variation in cross-border information transfers provide some (albeit rather limited) evidence that effects vary according to a range of firm-, industry- and country-level characteristics.Information transfers; Profit warnings

Whither Capitalism? Financial externalities and crisis

As with global warming, so with financial crises – externalities have a lot to answer for. We look at three of them. First the financial accelerator due to ‘fire sales’ of collateral assets -- a form of pecuniary externality that leads to liquidity being undervalued. Second the ‘risk- shifting’ behaviour of highly-levered financial institutions who keep the upside of risky investment while passing the downside to others thanks to limited liability. Finally, the network externality where the structure of the financial industry helps propagate shocks around the system unless this is checked by some form of circuit breaker, or ‘ring-fence’. The contrast between crisis-induced Great Recession and its aftermath of slow growth in the West and the rapid - and (so far) sustained - growth in the East suggests that successful economic progress may depend on how well these externalities are managed