CAMEF (2007-8) ::
Press Release
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!Computers and Algorithms in Mathematical Economics and Finance ''Algoritmusok és számítógépek a Pénzügyekben és a Matematikai közgazdaságtanban'' The Department of Decision Sciences at the University of South Africa (Unisa) and the Department of Mathematics at the Corvinus University in Budapest (CUB) have jointly organised two workshops entitled Computers and Algorithms in Mathematical Economics and Finance, with the aim of * promoting mathematical economics and mathematical finance, in both countries; * highlighting recent developments in various aspects of economics and finance; * furthering the application of the formal study of algorithms, computability and computable analysis in economics and finance; * understanding the role of fundamental problems, for instance the ontology and epistemology of probability in economics and finance; and * facilitating the use of modern software tools in economics and finance.
Participants in the Pretoria workshop at Unisa
Participants in the Budapest workshop, dining at the Hungarian Academy of Sciences
The specific topics addressed by speakers included: social choice functions; wage subsidies in transition economics; the mathematics of voting systems and districting; economic mechanism design; computable analysis; the Wiener process; linear difference systems; the European electricity trading market; tail dependence of financial returns; cash management with dynamic programming; arbitrage theory; GARCH processes; the SAFEX-JIBAR model; gambling against a random sequence; viability theory and economic modelling; Afriat's theorem and the Farkas lemma. Student participation contributed to the lively atmosphere of both workshops, with a particularly active participation in Budapest, where the CUB showcased its graduate students, especially in finance, by scheduling a number of excellent student talks. The Budapest workshop, held in January 2008 - just prior to the start of the Hungarian spring semester, made use of the excellent facilities of the CUB main campus on the banks of the Danube. The Pretoria workshop, held in November 2007 - at the end of the second semester in SA, used facilities on the Unisa main campus as well as at the Innovation Hub science park in the east of the city. Both workshops were also attended by colleagues from other local universities and departments. The leaders of the project were Professors PH Potgieter (Unisa) and P Tallos (CUB). The University of Cape Town (UCT) also took part in the project through the involvement of Professor V Brattka of UCT's Department of Mathematics & Applied Mathematics and his students. Funding for the project was provided through the Hungarian-SA Intergovernmental Science & Technology Programme (administered by the National Research Foundation, UID: 62110) and the resources of the departments at Unisa and at the CUB as well as grants administered by UCT that allowed two students from Cape Town to attend the Pretoria workshop. The organisers are compiling a special issue of the journal Pure Mathematics and Applications, to contain papers and extended abstracts from workshop participants - scheduled to appear in the second half of 2008.
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