Skip to main content Accessibility help
×
Hostname: page-component-cd9895bd7-p9bg8 Total loading time: 0 Render date: 2024-12-27T14:02:15.080Z Has data issue: false hasContentIssue false

12 - Networks

Published online by Cambridge University Press:  05 April 2024

Paul Embrechts
Affiliation:
Swiss Federal University (ETH), Zürich
Marius Hofert
Affiliation:
The University of Hong Kong
Valérie Chavez-Demoulin
Affiliation:
Université de Lausanne, Switzerland
Get access

Summary

One of the most counterintuitive examples involving randomness is the birthday problem. From 23 persons onwards, the probability of finding at least two people in a group with the same birthday is above 50%. Leonhard Euler’s solution of the Koenigsberg bridge problem heralded the start of the fascinating field of graphs and networks with applications to numerous applied problems across many disciplines. In 1929 the Hungarian writer Frigyes Karinthy highlighted the world’s smallness through his wonderful story “Chains” where he introduced the by now well-known “separation by six” idiom. Starting from these examples, we discuss some risks due to network effects present on the World Wide Web and social media. We present the reader with a glimpse of the fascinating world of coincidences. For instance, the law of truly large numbers states that, with a large enough sample, any outrageous thing is likely to happen. Real-life examples highlight the meaning of this law.

Type
Chapter
Information
Risk Revealed
Cautionary Tales, Understanding and Communication
, pp. 326 - 336
Publisher: Cambridge University Press
Print publication year: 2024

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×