Redundant oversight networks can either cushion or cascade failures
Evidence
In some instances, this rich overlapping texture of social-control strategies provides a safety net when one guardian fails. In other instances, a single failure of trust or social control can touch off a geometrically escalating chain reaction of associated failures among interdependent institutions (Shapiro 1987). — Shapiro, Susan P., The Social Control of Impersonal Trust, 110
Categorization
- XREF: The cascade side echoes network-failure and contagion arguments in finance (e.g., Long Term Capital Management, 2008) and epidemiological models of correlated risk. — connects to: A system of interdependent networks is significantly more vulnerable to shocks and damages, leading to cascading failures across networks. — Cascading Failures in Interdependent Economic Networks