Time Consistency: Concept and Techniques

Posted by Institutional Development Scheme for HKSYU

Event Type: Research Workshop

Event Them/irp/media-library/detail?album=399e: Decision Making


Speaker: Prof. Leon Petrosyan (Head of Department of Mathematical Game Theory and Statistical Decisions, St. Petersburg State University)

Date: 9 December 2015 (Wednesday)

Time: 11:30am - 1:30pm

Venue: Meeting Room, 7/F Library Complex, HKSYU

Language: English

 

Remarks:
1) Free Admission
2) We recommend registration in advance for seat-reservation and news update.

Introduction

Though group optimality and individual rationality constitute two essential properties for cooperation, their fulfillment does not necessarily guarantee a dynamically stable solution in cooperation because there is no guarantee that the agreed-upon optimality principle is fulfilled throughout the cooperative duration. To ensure stability in cooperative decisions over time, a stringent condition is required: the agreed-upon optimality principle must be maintained at any instant of time throughout the game along the optimal state trajectory. This condition is the notion of time consistency.  This Workshop examines the notion of time consistency and ways to resolve time inconsistent problems.

Contact Information

Should you have any enquiries, Please feel free to contact: irpids@hksyu.edu