Universiteit van Amsterdam (UvA) - The Netherlands
The Universiteit van Amsterdam is one of the largest universities in Europe. In 1998, Cars Hommes obtained a prestigious Pionieer-grant from the Netherlands Organization of Scientific Research (NWO) to start the Centre for Nonlinear Dynamics in Economics and Finance (CeNDEF), which rapidly became a leading international research centre on nonlinear dynamics, evolutionary dynamics, behavioral economics and finance. In particular the centre has specialized in theoretical understanding and empirical and experimental testing of heterogeneous expectations. CeNDEF researchers all have interdisciplinary scientific backgrounds, combining expertise in mathematics, physics, economics and computer science. The group has a remarkable international reputation in experimental economics.
Main tasks in the project: UvA will carry out laboratory and internet experiments with human paid subjects in order to study their decisions, behavioural patterns and expectations in complex macro-economic and financial nonlinear feedback systems. This will lead to the creation of a model of expectation formation and bounded rationality that will be at the basis of the two (financial and macroeconomic) agent based models.
UvA will also collaborate with CITY in the creation of the financial ABM starting from the
harmonization and unification of previous ABMs.
Key UvA personnel working on this project:
Cars HOMMES, Full Professor of Economic Dynamics
He is Director of CeNDEF and holds a MSc in Mathematics and obtained his PhD in Economics in 1991 at the University of Groningen. His publication record is excellent and focused on the role of expectations, learning and bounded rationality in dynamic economic models. Together with William Brock he developed a theory of heterogeneous expectation based upon evolutionary selection and applied this framework to financial market models and more recently also to dynamic macro modeling. Since 2002 Cars Hommes is one of the editors of the Journal of Economic Dynamics and Control
Cees DIKS, Full Professor of Data Analysis and Economic Statistics
MSc in Theoretical Physics, University of Utrecht (1991). PhD in Mathematics, University of Leiden (1996). Associate Professor at the Department of Quantitative Economics, University of Amsterdam.
Jan TUINSTRA, Associate Professor of Economic Theory
MSc in Econometrics, University of Groningen (1995). PhD in Economics, UvA (1999).
Florian WAGENER, Associate Professor of Mathematical Economics
PhD in Mathematics, University of Groningen (1998). In 2005 he was awarded a prestigious 5-year NWO VIDI research grant on complex dynamic systems.
Domenico Massaro
MSc in Economics and Social Sciences, Bocconi University (Milan), Italy, 2007, PhD in Economic Dynamics, University of Amsterdam
Te Bao
M.Phil in Economics, Tinbergen Institute, The Netherlands, 2009 M.Sc. in Economics, Hong Kong University of Science and Technology, Hong Kong SAR, China, 2007, Ph.D Student at CeNDEF, University of Amsterdam