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摘要翻译：
信任是大多数经济交易的核心，信贷市场就是一个显著的例子。借鉴有关协调博弈和网络增长的文献，我们建立了一个简单的模型来阐明信任是如何在金融系统中崩溃的。我们展示了关于金融代理人的坏消息的到来如何导致其他人对其失去信心，以及这反过来如何在整个系统中传播。我们的结果强调了滞后的作用--一旦信任被打破，需要相当大的努力才能重新获得信任。该模型虽然简单，但就事件的先后顺序和当局采取（和提议采取的）措施而言，对2007/8年全球金融危机后的信贷冻结提供了一个合理的解释。
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英文标题：
《Financial crises and the evaporation of trust》
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作者：
Kartik Anand, Prasanna Gai, Matteo Marsili
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最新提交年份：
2009
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分类信息：
一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Physics 物理学
二级分类：Physics and Society 物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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英文摘要：
Trust lies at the crux of most economic transactions, with credit markets being a notable example. Drawing on insights from the literature on coordination games and network growth, we develop a simple model to clarify how trust breaks down in financial systems. We show how the arrival of bad news about a financial agent can lead others to lose confidence in it and how this, in turn, can spread across the entire system. Our results emphasize the role of hysteresis -- it takes considerable effort to regain trust once it has been broken. Although simple, the model provides a plausible account of the credit freeze that followed the global financial crisis of 2007/8, both in terms of the sequence of events and the measures taken (and being proposed) by the authorities.
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PDF链接：
https://arxiv.org/pdf/0911.3099
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