Professor Giulia Iori


City University
Economics Department
Northampton Square, London, EC1V 0HB
TEL: 020 7040 4575



Jan 2005- present : Professor of Economics City University London, UK.
Sep 2004 - Dec 2004 : Reader of Applied Mathematics King's College London, UK.
Aug 2000 - Aug 2004 : Lecturer of Financial Mathematics King's College London, UK.
Sep 1998 - Jul 2000 : Lecturer of Finance University of Essex Colchester, UK.
Jan 1997 - Sep 1998 : TMR Postdoctoral Fellow Universitat de Barcelona Spain.
Oct 1995 - Dec 1996 : Postdoctoral Fellow Università di Roma, La Sapienza Italy.
Nov 1993 - Oct 1995 : Marie Curie Postdoctoral Fellow SPHT, Cea-Saclay (Paris) France
Mar 1993 - Aug 1993 : Visiting Researcher UCSC Santa Cruz California


Invited Lectures




Research Grants
EPSRC Fast Stream Grant: 'Complexity in Economic Networks, 2001-2003, 65K pounds. European Central Bank: Lamfalussy Fellowship, 2003, 10K Euro. British Council: Researcher Exchange Programme Grant, 2008-2009, 3940 pounds. European Science Foundation: COST Action P10 ``Physics of Risk'' and COST Action MP0801 "Physics of Competition and Conflicts"; I have been and am the UK representative to the management Committee for these actions. European Commission: FET Open Project “FOC, Forecasting Crisis" nr. 255987 (300K Euro), 2010-2013. European Commission: Collaborative Project “CRISIS, Complexity Research Initiative for Systemic InstabilitieS" nr. 288501 (285K Euro), 2011-2014.
Membership of Scientific Committees
8th International Conference on Computing in Economics and Finance, Aix- Marselle June 27-29 2002; 11th Annual Symposium of the Society for Non-linear Dynamics and Econometrics, Florence, March 11-13 2003; 2nd conference on Complex Behaviour in Economics: Modeling, Computing, and Mastering Complexity, Aix en Provence, 8-11 May 2003; WEHIA 2005, June 12-15, University of Essex; GRID in Finance, Palermo, February 3-4, 2006; WEHIA 2006, June 15-17 University of Bologna; 12th International Conference on Computation in Economics and Finance, Cyprus, June 22-24, 2006; Noise and Fluctuations in Complex Systems and Finance, Florence, May 20-24, 2007. Econophysics Colloquium, Ancona, 27-29 September, 2007.Workshop on Heterogeneous Agent Systems and Complex Networks, Dresden, 4 October 2007. Wehia/Eshia, Warsaw, June, 2008. Econophysics Colloquium, Kiel, 28-30 August, 2008. Econophysics Colloquium, Erice, September,2009, 2nd International Workshop on Managing Financial Instability in Capitalist Economies (MAFIN 2010) on September 23rd - 25th, 2010. “International Conference on Econophysics”, Shanghai June 4-6, 2011
Recent Academic research visits and collaborations:
IMPA, Rio de Janeiro Brasil, March 15-June 11, 2009. University of Innsbruck, January 21-28, 2009. European Central Bank, Frankfurt, 27-29 October 2003. University of Technology Sydney, 1-15 August 2003 and 14 November 2000 - 1 January 2001, research collaboration with Professor C. Chiarella. Helsinki University of Technology, 19-22 July 2003, research visit to Professor K. Kaski. University of Siena, 9-10 June 2003 and 20-22 June 2002, research collaboration with Professor G. Gabbi. ICTP, Trieste, 1-12 April 2003, 1-15 April 2002, 12-15 April 2005, research visit to Dr. S. Franz, Dr. A. Vespignani and Dr. M. Marsili. Palermo University, 6-17 January 2003, research visit to Professor R. Mantegna. Santa Fe Institute, New Mexico (2-8 July 2001, 9 August- 3 September 2001), research collaboration with Professor D. Farmer.
Conference Organization
Local co-organizer of the 13th Annual Symposium of the Society for Non-linear Dynamics and Econometrics, City University, London, March 31-April 1, 2005; Co-organizer of the 3rd Conference on Complex Behaviour in Economics: Modeling, Computing, and Mastering Complexity, Aix en Provence, 17-21 May 2006. Chair of the organizing committe of the 16th Conference in Computational Economics and Finance, London July 2010.
Editorial Activity
Associate Editor for Journal of Economic Behaviour and Organization (since 2005). Associate Editor for Journal of Economic Dynamics and Control (since 2013). Guest Editor (with Professor C. Deissenberg) for a special issue of Journal of Economic Behaviour and Organization (forthcoming, 2006) and a special issue of Computa- tional Economics (Vol 24, N 4, 2005) devoted to the 2nd Conference on Complex Behaviour in Economics: Modeling, Computing, and Mastering Complexity.
Referee activity
Referee service for Physical Review Letters, Physical Review E, Physica A, European Physical Journal, Journal of Economic Behaviour and Organization, Computational Economics, Quantitative Finance, International Journal of Theoretical and Applied Finance, Advances in Complex Systems, Studies in Non-linear Dynamics and Econometrics, and Proceedings of the Royal Society. Outstanding referee reward from Journal of Economics Dynamic and Control in 2009.
Expert evaluator activity
Grant evaluator for the EPSRC,the ESRC, the Leverhulme Trust, the British Council; Expert Evaluator for European Commission (Programmes Marie Curie and NEST, 2004, 2005, 2006).
Member of the Society for Computational Economics Advisory Council (since January 2009). Member of the London Mathematical Society. Member of the Bachelier Finance Society.


Working Papers

 – Vanessa Mattiussi, Michele Tumminello, Giulia Iori and Rosario N. Mantegna Comparing correlation matrix estimators via Kullback-Leibler divergence

Book Chapters

 – Vanessa Mattiussi and Giulia Iori Currency futures volatility during the 1997 East Asian crisis: an application of Fourier analysis in Debt, Risk and Liquidity in Futures Markets, London and New York: Routledge, B.A. Goss (ed) (2008)
 – G. Iori and C. Deissenberg An analysis of Settlement Risk Contagion in Alternative Securities Settlement Architectures in E.J. Konotghiorghes, B. Rustem and P. Winker (Eds.): "Computational Methods in Financial Engineering", Springer, Heidelberg, 2008
 – De Masi, Giulia and Iori, Giulia and Caldarelli, Guido : The Italian interbank network: statistical properties and a simple model. Noise and stochastics in complex systems and finance, SPIE, pp. 210-223. ISBN 978-0819467386
 – J. D. Farmer, L. Gillemot, G. Iori , S. Krishnamaurty, E. Smith, and M.G. Daniel A random order placement model of price formation in the continuos double auction in The Economy as an evolving complex system III, Blume and Durlauf (Eds), 175-206,Oxford University press, (2006)
 – G. Iori and V. Koulovassilopoulos Patterns of consumption in a discrete choice model with asymmetric interactions in William Barnett, Christophe Deissenberg, and Gustav Feichtinger (Eds.), "Economic Complexity: Non-linear Dynamics, Multi-agents Economies, and Learning", ISETE Vol 14, Elsevier, Amsterdam (2004).
 – G.Iori Scaling and Multiscaling in Financial Markets in Disordered and Complex Systems, ed. P.Sollich et al., AIP Conference Proceedings, Vol 553, 297-302 (2001).


 – G. Iori A close look at market microstructure Quantitative Finance, Vol 3, No 2, C23-C25 (2003)

Journal Articles

 – C. Chiarella, G. Iori, J. Perello The impact of heterogeneous trading rules on the limit order book and order flows. Journal of Economic Dynamics and Control, Volume 33, Issue 3, March 2009, Pages 525-537.
 – G. Tedeschi, G. Iori and M. Gallegati The role of communication and imitation in limit order markets Eur. Phys. J. B, 1, 489-497 (2009)
 – G. Iori, G. de Masi, O. Precup, G. Gabbi G. Caldarelli, A network analysis of the Italian Overnight Money Market, Journal of Economic Dynamics and Control 32, 259-278 (2008).
 – M. Jeannin, G. Iori, D. Samuel The pinning effect: theory and a simulated microstructure model Quantitative Finance, Volume 8, Issue 8 December 2008, p. 823-831
 – R. Carvalho and G. Iori Socio-economic networks with long-range interactions Phys. Rev. E 78, 016110 (2008)
 – Giulia Iori and Ovidiu V. Precup, Weighted network analysis of high frequency cross-correlation measures, Physical Review E, Vol.75, No.3, (2007)
 – O. Precup and G. Iori, Cross-Correlation Measures in the High-Frequency Domain, European Journal of Finance, 13, 4, 319 - 331, (2007)
 – G. Iori, R. Reno', G. de Masi and G. Caldarelli, Correlation of trading strategies in the Italian interbank market, Physica A, 376, 467-479 (2007),
 – G. Iori, S. Jafarey, F. Padilla, Systemic Risk on the Interbank market, Journal of Economic Behaviour and Organization, Vol. 61, No. 4, 525-542 (2006),
 – G. De Masi, G. Iori and G. Caldarelli, A fitness model for the Italian Interbank Money Market, Phys. Rev. E 74, 066112 (2006),
 – C. Deissenberg and G. Iori EDITORIAL Journal of Economic Behavior & Organization, Vol. 61, No. 4, (2006) 521-524
 – O. Precup and G. Iori, A Comparison of High-Frequency Cross-Correlation Measures, Physica A, Vol 344/1-2, 252-256 (2004),
 – G. Iori, M.G.Daniel, J. D. Farmer, L.Gillemot, S. Krishnamurthy, E. Smith, An analysis of price impact function in order driven markets, Physica A, Vol 324, 146-151 (2003),
 – Marcus G. Daniels, J. Doyne Farmer, L. Gillemot, Giulia Iori, Eric Smith, Quantitative model of price diffusion and market friction based on trading as a mechanistic random process, Phys. Rev. Lett. Vol 90, No. 10, 108102 (2003),
 – G. Iori, A microsimulation of traders activity in the stock market: the role of heterogeneity, agents' interactions and trade frictions, Journal of Economic Behaviour and Organization, Vol. 49, no. 2, 269-285, (2002),
 – M.Q. Lopez-Salvans, G. Iori, J. Casademunt, and F. Sagues Dynamics of finger arrays in a diffusion-limited growth model in the presence of a drift Physica D, Vol. 164, 127-151, (2002).
 – C. Chiarella and G. Iori, A Simulation Analysis of the Microstructure of Double Auction Markets, Quantitative Finance, Vol. 2, No 5, 346-353 (2002),
 – G. Iori and S. Jafarey, Criticality in a model of banking crisis, Physica A, 299, 205-212 (2001),
 – C.Voeltz, M. Schroter, G.Iori, A. Betat, A. Lange, A. Engel and I.Rehberg, Finger-like patterns in sedimenting water-Sand suspentions. Phys. Rep. 337, 117-138 (2000).
 – E.P.K. Tsang, J. Ki, S. Markose, H. Er, A. Salhi, G.Iori EDDIE In Financial Decision Making The Journal of Management and Economics, Vol 4, No 4 (2000).
 – G. Iori A threshold model for stock return volatility and trading volume International Journal of Theoretical and Applied Finance, Vol. 3, No. 3 (2000) 467-472
 – G. Iori Avalanche Dynamics and Trading Friction Effects on Stock Market Returns. Int. J. Mod. Phys. C, 10, 6, 1149-1162, (1999).
 – G. Iori, E. Marinari On the stability of the mean-field spin glass broken phase under non-Hamiltonian perturbations J. Phys. A: Math. Gen. 30 4489-4511 (1997)
 – U.M. Bettolo, A. Crisanti, G. Iori A soluble Phase field model Phys. Rev. E. Vol 56, No 1, 77-87 (1997)
 – G. Iori, J. Ortin, L. Carrillo Linearly driven Random Field Ising Model: hysteresis and avalanches Anales de Fisica, 4, 245-246 (1997)
 – G. Iori, J. Casademunt DLA simulation of finger competition in an external driving field Anales de Fisica, 4, 243-244 (1997)
 – T.Garel, G.Iori. H.Orland A variational study of the random-field XY model Phys. Rev. B, Vol 53, No. 6, R2941-R2944 (1996)
 – J.P.Bouchaud, G.Iori, D.Sornette Real world options: smile and residual risk Risk Vol 9, No 3 (1996)
 – G.Iori, E.Marinari, G.Parisi Non exponential relaxation time scales in disordered systems: an application to protein dynamics Europhys. Lett. Vol 25, No. 7, (1994) 491-496
 – G.Iori, E.Marinari, G.Parisi Heteropolymer Folding on a APE-100 Supercomputer Int. J. of Mod. Phys. C, Vol 4, No. 6 (1993) 1333-1341
 – G.Iori Proteins and Random Heteropolymers: an Overview Int. J. of Neural Systems Vol. 3 (Supp. 1992) 201-207
 – G.Iori, E.Marinari, G.Parisi and M.V.Struglia, Statistical Mechanics of Heteropolymer Folding Physica A 185 (1992) 98-103
 – G.Iori, E.Marinari and G.Parisi Random self-interacting chains: a mechanism for protein folding J. Phys A 24 (1991) 5349-5362.
 – L.Narici, G.Iori, I.Modena, G.L.Romani, G.Torrioli, R.Traversa and P.M.Rossini Neuromagneting Imaging of Syncronized Mu Activity Advances in Biomagnetism, ed. by Williamson et al. Plenum Press, New York.