讲座主题：The Expected Time Approach to Optimal Adjustment Problems: Application to Domestic Energy Prices

　　主讲人：胡耀忠教授( University of Alberta )

　　讲座时间：12月28日(周五)上午10:00

　　讲座地点：999策略白菜手机论坛A208

　　主办单位：999策略白菜手机论坛管理科学与工程系

　　主持人：王先甲教授

　　讲座摘要：Several countries use the administratively set fuel prices (which are off erred in domestic currency) close to their international free market counterparts. However, chasing a global market price of energy/fuel has the disadvantage that domestic prices need to fluctuate daily. This creates uncertainties for households and firms and exposes them to global price shocks. Other s use a fixed price regardless of the international free market price changes.

　　As a solution between the two extremes, one totally floating and the other one being completely detached from global prices, is to fix prices for a certain time interval (e.g., a season or a year) and then readjust and announce new prices at the beginning of the new period. In this talk we shall give an optimal strategy by solving an optimal stopping time problem.

　　主讲人简介：胡耀忠，Institute of Mathematical Statistics会士、加拿大阿尔伯塔大学数学与统计科学系教授，国际著名学术期刊《Stochastics》和《Acta Mathematica Scientia》的副主编。长期从事Malliavin分析、白噪声分析理论以及数理金融等领域的研究，在《Annals of Probability》、《Journal of Theoretical Probability》、《Stochastic Processes and their Applications》、《Probability Theory and Related Fields》以及《SIAM Journal of Control and Optimization》等国际顶尖杂志发表学术论文100余篇，是无穷维随机分析领域国际知名的学者。