This paper develops a rigorous mathematical framework for analyzing trust dynamics and statistical properties in small-scale risk-sharing communities. We establish that small pools with interdependent risks exhibit fundamentally different mathematical properties than large insurance systems,...

This paper analyses the contagion effects of the Greek stock market to the European stock markets of the NYSE Euronext group (Belgium, France, the Netherlands and Portugal), in the context of the 2010 sovereign debt crisis. Three tests of contagion are performed using copula models. The first...