{"id":"https://openalex.org/W2775566468","doi":"https://doi.org/10.4230/lipics.itcs.2017.32","title":"Finding Clearing Payments in Financial Networks with Credit Default Swaps is PPAD-complete","display_name":"Finding Clearing Payments in Financial Networks with Credit Default Swaps is PPAD-complete","publication_year":2017,"publication_date":"2017-01-11","ids":{"openalex":"https://openalex.org/W2775566468","doi":"https://doi.org/10.4230/lipics.itcs.2017.32","mag":"2775566468"},"language":"en","primary_location":{"is_oa":false,"landing_page_url":"https://doi.org/10.4230/lipics.itcs.2017.32","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false},"type":"article","type_crossref":"proceedings-article","indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5080206652","display_name":"Steffen Schuldenzucker","orcid":"https://orcid.org/0000-0003-2161-9948"},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"funder","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Steffen Schuldenzucker","raw_affiliation_strings":["University of Zurich Z\u00fcrich, Switzerland"],"affiliations":[{"raw_affiliation_string":"University of Zurich Z\u00fcrich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5045325634","display_name":"Sven Seuken","orcid":"https://orcid.org/0000-0001-8525-8120"},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"funder","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Sven Seuken","raw_affiliation_strings":["University of Zurich Z\u00fcrich, Switzerland"],"affiliations":[{"raw_affiliation_string":"University of Zurich Z\u00fcrich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5060046382","display_name":"Stefano Battiston","orcid":"https://orcid.org/0000-0002-0051-973X"},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"funder","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Stefano Battiston","raw_affiliation_strings":["University of Zurich Z\u00fcrich, Switzerland"],"affiliations":[{"raw_affiliation_string":"University of Zurich Z\u00fcrich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]}],"institution_assertions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":11.11,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":{"value":0.96134,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":90,"max":91},"biblio":{"volume":null,"issue":"67","first_page":"20","last_page":null},"is_retracted":false,"is_paratext":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9964,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9964,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.9875,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9568,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/clearing","display_name":"Clearing","score":0.7554277},{"id":"https://openalex.org/keywords/financial-networks","display_name":"Financial networks","score":0.5428285},{"id":"https://openalex.org/keywords/derivative","display_name":"Derivative (finance)","score":0.530627},{"id":"https://openalex.org/keywords/credit-derivative","display_name":"Credit derivative","score":0.43794885},{"id":"https://openalex.org/keywords/default","display_name":"Default","score":0.42537794}],"concepts":[{"id":"https://openalex.org/C134697681","wikidata":"https://www.wikidata.org/wiki/Q1609677","display_name":"Clearing","level":2,"score":0.7554277},{"id":"https://openalex.org/C30589699","wikidata":"https://www.wikidata.org/wiki/Q624028","display_name":"Credit default swap","level":3,"score":0.63726914},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5587336},{"id":"https://openalex.org/C2776760741","wikidata":"https://www.wikidata.org/wiki/Q25325235","display_name":"Financial networks","level":4,"score":0.5428285},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.5370501},{"id":"https://openalex.org/C111771559","wikidata":"https://www.wikidata.org/wiki/Q66295","display_name":"Derivative (finance)","level":2,"score":0.530627},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.47724366},{"id":"https://openalex.org/C44309892","wikidata":"https://www.wikidata.org/wiki/Q691313","display_name":"Credit derivative","level":3,"score":0.43794885},{"id":"https://openalex.org/C69637215","wikidata":"https://www.wikidata.org/wiki/Q702362","display_name":"Default","level":2,"score":0.42537794},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.40710482},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.39431438},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.25410658},{"id":"https://openalex.org/C178350159","wikidata":"https://www.wikidata.org/wiki/Q162714","display_name":"Credit risk","level":2,"score":0.24638939},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.21407175},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.13349715},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"is_oa":false,"landing_page_url":"https://doi.org/10.4230/lipics.itcs.2017.32","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.54,"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17"}],"grants":[],"datasets":[],"versions":[],"referenced_works_count":9,"referenced_works":["https://openalex.org/W1773358362","https://openalex.org/W1991713925","https://openalex.org/W1995245793","https://openalex.org/W2002373723","https://openalex.org/W2083639782","https://openalex.org/W2126211987","https://openalex.org/W2169359757","https://openalex.org/W2504913646","https://openalex.org/W3122768207"],"related_works":["https://openalex.org/W3126137870","https://openalex.org/W3125490620","https://openalex.org/W3124317733","https://openalex.org/W3123869229","https://openalex.org/W3122812694","https://openalex.org/W3122785168","https://openalex.org/W3122768207","https://openalex.org/W3105852387","https://openalex.org/W2504913646","https://openalex.org/W2292590897","https://openalex.org/W2246724822","https://openalex.org/W2169359757","https://openalex.org/W2162337502","https://openalex.org/W2116075173","https://openalex.org/W2114111593","https://openalex.org/W2002373723","https://openalex.org/W1995245793","https://openalex.org/W1922955518","https://openalex.org/W1577207550","https://openalex.org/W146424743"],"abstract_inverted_index":{"We":[0,83],"consider":[1],"the":[2,57,78,91,140,143],"problem":[3,93],"of":[4,8,43,80,142],"clearing":[5,41,92],"a":[6,16,40,136],"system":[7],"interconnected":[9],"banks":[10,28,62],"that":[11,26,56,75,85],"have":[12,124],"been":[13],"exposed":[14],"to":[15,90],"shock":[17],"on":[18,77],"their":[19],"assets.":[20],"Eisenberg":[21],"and":[22,111,120,131],"Noe":[23],"(2001)":[24],"showed":[25],"when":[27,61],"can":[29,45,63,113],"only":[30],"enter":[31,65],"into":[32,66],"simple":[33],"debt":[34,110],"contracts":[35,74],"with":[36,94,109],"each":[37],"other,":[38],"then":[39],"vector":[42],"payments":[44],"be":[46],"computed":[47],"in":[48],"polynomial":[49],"time.":[50],"In":[51],"this":[52],"paper,":[53],"we":[54,104],"show":[55],"situation":[58],"changes":[59],"radically":[60],"also":[64],"credit":[67],"default":[68,79],"swaps":[69],"(CDSs),":[70],"i.e.,":[71],"financial":[72,107,144],"derivative":[73],"depend":[76],"another":[81],"bank.":[82],"prove":[84],"computing":[86],"an":[87],"approximate":[88],"solution":[89],"sufficiently":[95],"small":[96],"constant":[97],"error":[98],"is":[99],"PPAD-complete.":[100],"To":[101],"do":[102],"this,":[103],"demonstrate":[105],"how":[106],"networks":[108],"CDSs":[112],"encode":[114],"arithmetic":[115],"operations":[116],"such":[117],"as":[118,135],"addition":[119],"multiplication.":[121],"Our":[122],"results":[123],"practical":[125],"impact":[126],"for":[127],"network":[128],"stress":[129],"tests":[130],"reveal":[132],"computational":[133],"complexity":[134],"new":[137],"concern":[138],"regarding":[139],"stability":[141],"system.":[145]},"abstract_inverted_index_v3":null,"cited_by_api_url":"https://api.openalex.org/works?filter=cites:W2775566468","counts_by_year":[{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2}],"updated_date":"2025-02-18T10:23:57.690946","created_date":"2017-12-22"}