- Tyche, Goddess of Chance and Fortune. Courtesy of Tatjana Heinz
Stochastic Dynamics in Economics and Finance
Hausdorff Trimester Program
May 2 - August 23, 2013
Organizers: R. Amir, I. V. Evstigneev, K. R. Schenk-Hoppé
The trimester program offered a unique framework for research in the area of stochastic dynamics in economics and finance. It combined modern mathematics (probability, optimization, game theory, control, dynamical systems) with innovative modeling approaches in the social sciences. A central theme was the development of new models of market dynamics and equilibrium going beyond the classical Walrasian equilibrium paradigm and relying upon recent advances in strategic (game-theoretic) analysis, along with behavioral and evolutionary principles.
Four workshops contributed to the realization of the research program:
- 27-29 May 2013
Stochastic Optimization: Models and Algorithms
Organizers: Jofré, Rockafellar and Ziemba - 17-20 June 2013
Stochastic Dynamic Games with Applications in Economics and Finance
Organizers: Amir, Kifer, Riedel and Vieille - 15-18 July 2013
Evolutionary Dynamics and Market Behavior
Organizers: Hofbauer and Sorin - 19-22 August 2013
Modeling Market Dynamics and Equilibrium: New Challenges, New Horizons
Organizers: Evstigneev and Schenk-Hoppé
Confirmed Senior Participants: E. J. Balder, I. Ekeland, S. D. Flåm, H. Föllmer, P. Hammond, T. Hens, W. Hildenbrand, J. Hofbauer, U. Horst, A. Jofré, M. Ali Khan, Yu. Kifer, S. Kusuoka, T. Lensberg, B. Moldovanu, A. Neyman, G. Peskir, F. Riedel, R. T. Rockafellar, A. N. Shiryaev, S. Sorin, Y. Sun, N. Vieille, J. Weibull, R. J.-B. Wets, N. Yannelis, H. Peyton Young, W. T. Ziemba