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Behavioral Analysis guard against Financial Crisis

Mathematical Economist Cars Hommes wins Distinguished Lorentz Prize & Fellowship

8 January 2014

Press release:

Cars Hommes wins Distinguished Lorentz Prize & Fellowship investigating ‘Bounded rational’ Behaviour in Complex Economic Systems.


Mathematical economist, Cars Hommes, Professor of Economic Dynamics at the University of Amsterdam, wins the sixth Distinguished Lorentz Prize. The Distinguished Lorentz Prize and Fellowship are awarded to eminent researchers whose research is interdisciplinary, socially relevant and bridges the gap between the Humanities, the Social Sciences and Natural Sciences.

The Distinguished Lorentz Fellowship, Prize and workshop are part of the NIAS-Lorentz Program - a collaboration between the Netherlands Institute for Advanced Study in the Humanities and Social Sciences (NIAS, Wassenaar) and the Lorentz Center (Leiden).

During his ten-month fellowship Cars Hommes will investigate predictive models of economic behaviour .

Socio-economic systems are influenced by people’s differing expectations and adaptive behaviour. Professor Cars Hommes is an internationally recognized expert in using mathematics to model 'bounded rational' behaviour.

The need for new conceptual frameworks and improved predictive models has been expressed on several occasions by policy makers, especially in the wake of the recent financial crisis.

Professor Hommes will research complexity modelling in the socio-economic domain and explore methodologies that have been developed and successfully applied in the natural sciences.

Professor Hommes will take up his residential fellowship at the Netherlands Institute for Advanced Study in the Humanities and Social Sciences (NIAS, Wassenaar), from September 2014 to June 2015. During that period, he will also organize an interdisciplinary workshop at the Lorentz Center that brings together senior and junior researchers from various disciplines and different methodologies  to work together on creating new ways to model complexity in the socio-economic domain.

Professor Dr Cars Hommes is especially known for his fundamental and influential work with William Brock on building a new behavioral heterogeneous expectations paradigm.

The work of Professor Hommes and his research group Center for Nonlinear Dynamics in Economics and Finance (CeNDEF, founded 15 years ago by a Pioneer-grant from NWO) sets global standards. Students of CeNDEF hold academic positions throughout the world.

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The Distinguished Lorentz Prize of €10,000 will be presented by Professor Sijbolt Noorda, Chair of the NIAS-Lorentz Advisory Board, at a ceremony on 27 May 2014 at NIAS, Wassenaar.

The Distinguished Lorentz Fellowship, Prize and workshop are part of the NIAS-Lorentz Program, a collaboration between the Netherlands Institute of Advanced Study in the Humanities and Social Sciences (Wassenaar) and the Lorentz Center (Leiden).

The NIAS-Lorentz Program promotes cutting-edge interdisciplinary research that brings together perspectives from the social sciences, humanities and the exact sciences.

NIAS, Netherlands Institute for Advanced Study in the Humanities and Social Sciences, supported by the Royal Netherlands Academy of Arts and Sciences, provides residential fellowships and research facilities for an international group of selected scholars who engage in advanced research in the humanities and social sciences.

The Lorentz Center organizes weekly international workshops in the fields of science and technology, supported by Leiden University, the Ministry of Education, Culture and Science, FOM (Dutch Physics Association) and NWO (Dutch Research Council).

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For further information, see links below:

Professor Cars Hommes:
  http://is.gd/weyoya (University of Amsterdam)

  http://is.gd/oluyuj (University of Amsterdam)


Distinguished Lorentz Fellowship:  
  http://is.gd/rayeja (NIAS-KNAW)


NIAS-Lorentz Programma:
  http://is.gd/equcec (NIAS-Lorentz)


NIAS:
  http://is.gd/udalov (NIAS-KNAW)


Lorentz Center:
  http://is.gd/cawiku (Lorentz)
 

Photo:
  http://is.gd/avezeg

 

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