The beneficial role of randomness: from physics to social systems
In this lecture I will review some recent studies on the beneficial use of randomness in many real situations beyond physics. In particular, by adopting random strategies, I will show how it is possible to face successfully the problems of the Peter principle in hierarchical organizations, to have a more efficient and democratic Parliament, to tame the wild fluctuations of financial markets, to counterbalance the unpredictable role of luck and foster innovation.
- The Peter principle revisited: a computational study , A. Pluchino, A. Rapisarda, C. Garofalo, Physica A 389 (2010) 467
- Efficient promotion strategies in hierarchical organizations, A. Pluchino, A. Rapisarda, C. Garofalo, Physica A 390 (2011) 3496
- Accidental politicians: how randomly selected legislators can improve Parliament efficiency, A. Pluchino, C. Garofalo, A. Rapisarda, S. Spagano, M. Caserta, Physica A 390 (2011) 3944.
- Reducing financial avalanches by random investments, A.E. Biondo, A. Pluchino, A. Rapisarda, D. Helbing, Phys Rev. E 88 (2013) 062814
- "Micro and Macro Benefits of Random Investments in Financial Markets", A.E. Biondo, A. Pluchino, A. Rapisarda, Contemporary Physics 55 (2014) 318
- Talent vs Luck: the role of randomness in success and failure, A. Pluchino, A.E. Biondo, A. Rapisarda, Advances in Complex Systems 21 (2018) 1850014