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Traditional economic theory could not explain, much less predict, the near collapse of the financial system and its long-lasting effects on the global economy. Since the 2008 crisis, there has been increasing interest in using ideas from complexity theory to make sense of economic and financial markets. Concepts, such as tipping points, networks, contagion, feedback, and resilience have entered the financial and regulatory lexicon, but actual use of complexity models and results remains at an early stage. Recent insights and techniques offer potential for better monitoring and management of highly interconnected economic and financial systems and, thus, may help anticipate and manage future crises.
It is argued that, despite differences in cultural norms and practices, the evidence for a link between violent media use and aggression is remarkably consistent across different countries. Along with evidence that different operationalizations of violent media use also converge across countries, these findings strengthen the conclusion that violent media are a risk factor for aggression and validate the psychological explanations for these effects. However, we need comparative studies based on a consistent methodology and a theory-based selection of cultural difference variables to properly examine the potential impact of culture on the association between violent media use and aggression.
Abrupt monsoon transitions as seen in paleorecords can be explained by moisture-advection feedback
(2016)
Storm runoff from the Marikina River Basin frequently causes flood events in the Philippine capital region Metro Manila. This paper presents and evaluates a system to predict short-term runoff from the upper part of that basin (380km(2)). It was designed as a possible component of an operational warning system yet to be installed. For the purpose of forecast verification, hindcasts of streamflow were generated for a period of 15 months with a time-continuous, conceptual hydrological model. The latter was fed with real-time observations of rainfall. Both ground observations and weather radar data were tested as rainfall forcings. The radar-based precipitation estimates clearly outperformed the raingauge-based estimates in the hydrological verification. Nevertheless, the quality of the deterministic short-term runoff forecasts was found to be limited. For the radar-based predictions, the reduction of variance for lead times of 1, 2 and 3hours was 0.61, 0.62 and 0.54, respectively, with reference to a no-forecast scenario, i.e. persistence. The probability of detection for major increases in streamflow was typically less than 0.5. Given the significance of flood events in the Marikina Basin, more effort needs to be put into the reduction of forecast errors and the quantification of remaining uncertainties.