Guest lecturers include Professors Jasmina Arifovic, Simon Fraser University, Doyne Farmer, Santa Fe Institute, Klaus Reiner Schenk-Hoppe'', University of Leeds, Shyam Sunder, Yale University.
Financial markets are complex systems whose frequent volatile eruptions, bubbles and crashes are often described by terms such as out-of-equilibrium-dynamics, self- organized criticality and life at the edge of chaos even in the popular press.
The huge numbers of agents interacting and competing within modern financial markets indeed suggests to treat them as large systems of autonomous sub-units whose macroscopic features might be seen as unintended emergent phenomena of the bustling microscopic activity. The fact, that practically all markets that belong to the financial sphere (stock markets, foreign exchange markets, derivatives, precious metals) share a set of extremely robust and quantitatively uniform statistical regularities lends additional credibility to this viewpoint.
The Eighth Summer School in the Trento Program in Adaptive Economic Dynamics focuses on Agent-Based Finance (ABF) and is designed to familiarize students with the phenomenology of financial markets and recent agent-based and computational approaches to financial markets. Students will be introduced to the relevant tools of dynamics system theory, econophysics and agent-based modeling and will be guided to their own independent applications of these tools. Topics of the summerschool include:
* deterministic and stochastic interacting agent asset pricing models
* complexity, nonlinear dynamics, bifurcations, chaos
* mean field approximation, master equations and Focker Planck equations
* artificial intelligence and artificial markets
* evolutionary strategy selection and herding behavior
* simulation of stylized facts and estimation of heterogeneousagent models
* laboratory experiments with human subjects
Prior knowledge on these topics is helfful, but not required. The Eighth Summer School will run for two weeks and consists of an intensive course on recent developments in ABF as well as invited lectures by international experts in the field.
The Trento Summer Schools are intended for advanced graduate students and post-doctoral scholars.People interested in participating in the Summer School are encouraged to apply by submitting a curriculum vitae, a two-page essay describing their interest in agent-based finance, a course transcript from their PhD program, including advanced examinations passed, and two letters of recommendation.
Applications are due by March 30, 2007. We encourage electronic submissions. You can submit all the required documents by e-mail (ccschool@economia.unitn.it) or fax (0039-0461-882222).
Admissions decisions will be announced by April 30, 2007. All applicants will be informed by e-mail about the results.
The mini-school will be held at Sardagna Trento, Italy, a beautiful retreat, accessed by cable car, in the Dolomite Mountains. All participants are required to stay for the entire duration of the event. Food and accommodation will be completely covered (participants will have to cover travel expenses and meals during the weekend).
Venue: Conference Center Panorama, Trento - Italy
Please direct logistical questions to the Summer School secretary (ccschool@economia.unitn.it).
This is the Eighth of a series of intensive courses offered by the Computable and Experimental Economics Laboratory (CEEL).
Previous courses were offered in Computable Economics (2000, Professor K. Vela Velupillai), Experimental Economics (2001, Professor Daniel Friedman), Adaptive Economic Processes (2002, Professor Peter Howitt), Behavioral Economics (2003, Professors Daniel Friedman and David Laibson), Institutional Economics (2004, Professor Richard N. Langlois), Evolutionary Economic Dynamics (2005, Ken Binmore and Larry Samuelson), and Agent-Based Computational Economics (2006, Leigh Tesfatsion and Robert Axtell)
URL: http://www-ceel.economia.unitn.it/summer_school/eighth/index.html
CEEL PROGRAM IN ADAPTIVE ECONOMIC DYNAMICS
