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Dragon-kings: Mechanisms, statistical methods and empirical evidence
Open accessAbstract
This introductory article presents the special Discussion and Debate volume “From black swans to dragon-kings, is there life beyond power laws?” We summarize and put in perspective the contributions into three main themes: (i) mechanisms for dragon-kings, (ii) detection of dragon-kings and statistical tests and (iii) empirical evidence in a large variety of natural and social systems. Overall, we are pleased to witness significant advances both in the introduction and clarification of underlying mechanisms and in the development of novel efficient tests that demonstrate clear evidence for the presence of dragon-kings in many systems. However, this positive view should be balanced by the fact that this remains a very delicate and difficult field, if only due to the scarcity of data as well as the extraordinary important implications with respect to hazard assessment, risk control and predictability.
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Cites
Early-warning signals for critical transitions
Scheffer, M., Bascompte, J., Brock, W. A., Brovkin, V., Carpenter, S. R., Dakos, V., Held, H., van Nes, E. H., Rietkerk, M., & Sugihara, G. (2009) · Nature · doi:10.1038/nature08227 · Cited by 4,854
Cited by
Globally networked risks and how to respond
Helbing, D. (2013) · Nature · doi:10.1038/nature12047 · Cited by 1,281
Drover, W., Busenitz, L., Matusik, S., Townsend, D., Anglin, A., & Dushnitsky, G. (2017) · Journal of Management · doi:10.1177/0149206317690584 · Cited by 629
Slater, L. J., Anderson, B., Buechel, M., Dadson, S., Han, S., Harrigan, S., Kelder, T., Kowal, K., Lees, T., Matthews, T., et al. (2021) · Hydrology and Earth System Sciences · doi:10.5194/hess-25-3897-2021 · Cited by 357
Power laws and self-organized criticality in theory and nature
Marković, D., & Gros, C. (2014) · Physics Reports · doi:10.1016/j.physrep.2013.11.002 · Cited by 263
Galfi, V. M., & Lucarini, V. (2021) · Physical Review Letters · doi:10.1103/physrevlett.127.058701 · Cited by 62
Metadata
- Authors
- Sornette, D., & Ouillon, G.
- Venue
- The European Physical Journal Special Topics
- Published
- 2012-05
- Volume
- 205
- Issue
- 1
- Pages
- 1-26
- ISSN
- 1951-6355 (ISSN-L)
- 1951-6401
- OpenAlex
- W3122938238
- Cited by
- 256
- References
- 1
- FWCI
- 40.91
- Type
- journal article
- Language
- en
- Open access
- green
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- Sornette, D., & Ouillon, G. (2012). Dragon-kings: Mechanisms, statistical methods and empirical evidence. The European Physical Journal Special Topics. https://doi.org/10.1140/epjst/e2012-01559-5
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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