Story of the Developments in Statistical Physics of Fracture, Breakdown and Earthquake: A Personal Account

Chakrabarti, Bikas K.

doi:10.1142/s242494241750013x

Cited by 3 publications

(1 citation statement)

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“…For example, the dimensionality of the space, the range of interactions of a system of elements on that space and so on have been used to explain the universal behaviour of both earthquakes, and large classes of related problems [14,15]. Considerable progress has since been made in understanding the nature of the fluctuations and the consequent emergent features of materials undergoing failure [16].…”

Section: Introductionmentioning

confidence: 99%

Statistical physics of fracture and earthquakes

Biswas

Goehring

Chakrabarti

2018

Phil. Trans. R. Soc. A.

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Manifestations of emergent properties in stressed disordered materials are often the result of an interplay between strong perturbations in the stress field around defects. The collective response of a long-ranged correlated multi-component system is an ideal playing field for statistical physics. Hence, many aspects of such collective responses in widely spread length and energy scales can be addressed by the tools of statistical physics. In this theme issue, some of these aspects are treated from various angles of experiments, simulations and analytical methods, and connected together by their common base of complex-system dynamics. This article is part of the theme issue ‘Statistical physics of fracture and earthquakes’ .

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Section: Introductionmentioning

confidence: 99%

Statistical physics of fracture and earthquakes

Biswas

Goehring

Chakrabarti

2018

Phil. Trans. R. Soc. A.

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A Fiber Bundle Model of Systemic Risk in Financial Networks

Biswas,

Chakrabarti

2024

New Economic Windows

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Failure statistics of banks in the US show that their sizes are highly unequal (ranging from a few tens of thousands to over a billion dollars) and also, they come in “waves” of intermittent activities. This motivates a self-organized critical picture for the interconnected banking network. For such dynamics, recent developments in studying the inequality of the events, measured through the well-known Gini index and the more recently introduced Kolkata index, have been proved to be fruitful in anticipating large catastrophic events. In this chapter we review such developments for catastrophic failures using a simple model called the fiber bundle model. We then analyse the failure data of banks in terms of the inequality indices and study a simple variant of the fiber bundle model to analyse the same. It appears, both from the data and the model, that coincidence of these two indices signal a systemic risk in the network.

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