{"id":"https://openalex.org/W3124322699","doi":"https://doi.org/10.1145/3391403.3399538","title":"Portfolio Compression in Financial Networks: Incentives and Systemic Risk","display_name":"Portfolio Compression in Financial Networks: Incentives and Systemic Risk","publication_year":2020,"publication_date":"2020-07-09","ids":{"openalex":"https://openalex.org/W3124322699","doi":"https://doi.org/10.1145/3391403.3399538","mag":"3124322699"},"language":"en","primary_location":{"id":"doi:10.1145/3391403.3399538","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3391403.3399538","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 21st ACM Conference on Economics and Computation","raw_type":"proceedings-article"},"type":"conference-abstract","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5080206652","display_name":"Steffen Schuldenzucker","orcid":"https://orcid.org/0000-0003-2161-9948"},"institutions":[{"id":"https://openalex.org/I114090438","display_name":"Goethe University Frankfurt","ror":"https://ror.org/04cvxnb49","country_code":"DE","type":"education","lineage":["https://openalex.org/I114090438"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Steffen Schuldenzucker","raw_affiliation_strings":["Goethe University Frankfurt, Frankfurt am Main, Germany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Goethe University Frankfurt, Frankfurt am Main, Germany","institution_ids":["https://openalex.org/I114090438"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5045325634","display_name":"Sven Seuken","orcid":"https://orcid.org/0000-0001-8525-8120"},"institutions":[{"id":"https://openalex.org/I202697423","display_name":"University of Zurich","ror":"https://ror.org/02crff812","country_code":"CH","type":"education","lineage":["https://openalex.org/I202697423"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Sven Seuken","raw_affiliation_strings":["University of Zurich, Zurich, Switzerland"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Zurich, Zurich, Switzerland","institution_ids":["https://openalex.org/I202697423"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":13,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"79","last_page":"79"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9975000023841858,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9975000023841858,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9879999756813049,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.9646999835968018,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.8144001960754395},{"id":"https://openalex.org/keywords/portfolio","display_name":"Portfolio","score":0.8003033399581909},{"id":"https://openalex.org/keywords/systemic-risk","display_name":"Systemic risk","score":0.5372791886329651},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.5247259736061096},{"id":"https://openalex.org/keywords/compression","display_name":"Compression (physics)","score":0.4390132427215576},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.40400195121765137},{"id":"https://openalex.org/keywords/actuarial-science","display_name":"Actuarial science","score":0.3404267430305481},{"id":"https://openalex.org/keywords/financial-crisis","display_name":"Financial crisis","score":0.33070844411849976},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.30435556173324585},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.29433125257492065},{"id":"https://openalex.org/keywords/macroeconomics","display_name":"Macroeconomics","score":0.055189162492752075}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.8144001960754395},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.8003033399581909},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.5372791886329651},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5247259736061096},{"id":"https://openalex.org/C180016635","wikidata":"https://www.wikidata.org/wiki/Q2712821","display_name":"Compression (physics)","level":2,"score":0.4390132427215576},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.40400195121765137},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3404267430305481},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.33070844411849976},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.30435556173324585},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.29433125257492065},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.055189162492752075},{"id":"https://openalex.org/C159985019","wikidata":"https://www.wikidata.org/wiki/Q181790","display_name":"Composite material","level":1,"score":0.0},{"id":"https://openalex.org/C192562407","wikidata":"https://www.wikidata.org/wiki/Q228736","display_name":"Materials science","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3391403.3399538","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3391403.3399538","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 21st ACM Conference on Economics and Computation","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G6469239440","display_name":null,"funder_award_id":"640772","funder_id":"https://openalex.org/F4320335254","funder_display_name":"Horizon 2020"}],"funders":[{"id":"https://openalex.org/F4320335254","display_name":"Horizon 2020","ror":null}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W613889982","https://openalex.org/W2892044735","https://openalex.org/W2347071282","https://openalex.org/W348488691","https://openalex.org/W3124300971","https://openalex.org/W2953117877","https://openalex.org/W4301357666","https://openalex.org/W3124654348","https://openalex.org/W3083992059","https://openalex.org/W3206284067"],"abstract_inverted_index":{"We":[0,15,35,59],"study":[1],"portfolio":[2,42],"compression,":[3],"a":[4,12,85,95],"procedure":[5],"that":[6],"removes":[7],"cycles":[8],"of":[9,31,98,101],"liabilities":[10],"in":[11,23,29,68],"financial":[13],"network.":[14],"analyze":[16],"the":[17,69,81,99],"incentives":[18,52],"for":[19,88],"banks":[20,66],"to":[21,39,74,76,94],"engage":[22],"compression":[24,43,70,82],"and":[25,47,50],"its":[26],"systemic":[27],"effects":[28],"terms":[30],"all":[32,89],"banks'":[33,51],"equities.":[34],"show":[36],"that,":[37],"contrary":[38],"conventional":[40],"wisdom,":[41],"may":[44,53],"be":[45,54],"socially":[46],"individually":[48],"detrimental":[49],"misaligned":[55],"with":[56],"social":[57],"welfare.":[58],"then":[60],"present":[61],"sufficient":[62],"conditions":[63],"under":[64,79],"which":[65,80],"involved":[67],"have":[71],"an":[72],"incentive":[73],"agree":[75],"it":[77],"or":[78],"is":[83],"even":[84],"Pareto":[86],"improvement":[87],"banks.":[90],"Our":[91],"results":[92],"contribute":[93],"better":[96],"understanding":[97],"implications":[100],"recent":[102],"regulatory":[103],"policy.":[104]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":3}],"updated_date":"2026-07-14T23:27:15.235271","created_date":"2025-10-10T00:00:00"}