Intelligence, Completion and Viability of Systems: The Case of the Financial Industry

• Autores: Corrado Gatti, Gianluca Vagnani
• Localización: Creativity and survival of the firm under uncertainty / coord. por Attilio Celant, Txomin Iturralde, 2009, ISBN 978-84-692-5174-4
• Idioma: inglés
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• Resumen

  • Stemming from the observation of the evolution of the financial industry, and assuming the viable system approach, our paper aims to shed light on some of the determinants of a system�s viability. Among others, individual intelligence of its components � based on technologies of rationality (i.e. ICTs and legal technologies) � and its overall degree of completion as a system � deriving from both top-down regulation and self-organization � appear to be salient and are thus deepened. Although technologies of rationality, topdown regulation and self-organization all seem clearly to be effective antecedents of survival in simple situations, their effect in more complex contexts appears uncertain.

    Since complexity has a moderating role on the determinants of a system�s viability, in the quest for stability and survival of the financial industry increasing investments in technologies of rationality as well as vigorous enforcement of top-down regulation should be carefully examined and confronted with investments in components� values and culture, deep understanding of agents and operations, relationship lending approaches, as well as virtuous self-organization processes.