A theory of systemic risk is outlined for the global financial system, with practical implications for systemic risk mitigation, based on evolutionary economics viewed from an operational behaviour perspective. The paper begins with an introduction to systemic crises and what motivates this...

This paper uses the ECOB (Evolving Collective Operational Behaviour) model of participant interactions in the global financial system, with Design Science Research Methods and Survey Research Methods, to contribute a regulatory instrument for directing attention to potential areas of increasing...

This article responds to calls in the literature for a major shift in approaches to explaining systemic risk. It applies insights from multiple disciplines, but departs from the monistic positivist research orientations of many previous contributions by taking a carefully argued pragmatic...