Paolo Zeppini

I write mathematical models describing complex economic systems, especially phenomena of self-organisation, `emergence' and tipping points originating from non-linearities of human behaviour and interactions within social structure.

The subjects of ]my research are financial markets and environmental problems. In particular the economics and policy analysis of sustainable transitions studied as phase transitions, and the evolutionary dynamics of financial markets as an explanation of markets instability and efficiency.

The main tool of my study are simple tractable models of human behaviour with heterogeneous agents, social interactions and multiple equilibria, in a multidisciplinary approach that builds on game theory, network theory, statistical mechanics and, more recently, experimental economics.

The main results of my analysis are a classification of transitions and social tipping points based on the concept of phase transitions from physics, and the new concept of elasticity of social substitution that explains scenarios where effects at individual and aggregate levels may be opposite to each other.

On the policy side, my research aims at uncovering situations where the endogenous emergence of cooperation is a viable bottom-up alternative to binding political agreements and stringent regulations.