Prof. Boleslaw K. Szymanski presented the paper "Optimal Control of Networked Risks: Minimizing Time and Energy" at the Conference on Complex System, Singapore in Oct. 1, 2019

Prof. Boleslaw K. Szymanski presented the paper "Optimal Control of Networked Risks: Minimizing Time and Energy" at the Conference on Complex System, Singapore in Oct. 1, 2019. The corresponding paper was co-authored by Dr. Xiang Niu and Prof. Jianxi Gao. The talk focuses on global risks that are intricately interconnected with each other and threaten modern societies through an underlying network with pathways along which dangerous and damaging events can rapidly spread. The state variables in risk networks evolve from the discrete initial states into steady states that require non-negative control to be driven into the desired inactive states. Our analytical results unveil the trade-off between reactively controlling currently active risks versus proactively preventing activation of highly contagious risks. Balancing this trade-off is needed to minimize the total cost of controlling different types of risk networks using the minimal total cost, and to inform the specific control strategies for risk management in a network-wide manner. The talk included two examples of such risk networks. One is the World Economic Forum global risk networks and the other is airline delay network.