Institute for Mathematical Economic Research

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The Institute for Mathematical Economic Research (IMW) is a central scientific institution at Bielefeld University . It was founded on November 10, 1970 as the third scientific institution at Bielefeld University; Until the completion of the main university building in Bielefeld, the institute was housed in Rheda Castle . In 2013, the full-time scientific staff of the IMW comprised seven university professors, six doctoral researchers and more than twenty doctoral students; there are also three associate professors and two emeriti . The main areas of work are game theory , general equilibrium theory , operations research and decision- making-based financial mathematics .

One of the well-known personalities who have taught and researched at the IMW is the former director of the institute Reinhard Selten , who was the only German-speaking economist to be awarded the Nobel Prize for Economics in 1994 for his work on game theory (largely created during his time in Bielefeld) has been. For example, the approach of trembling-hand-perfect balance was published during the time at the institute. The American economist Roger B. Myerson spent a year researching in Bielefeld (at the Center for Interdisciplinary Research and at the IMW), where he wrote a fundamental thesis on the theory of auction design, for the development of which he and Leonid Hurwicz (honorary doctorate from the Faculty for economics from Bielefeld University) and Eric Maskin received the Nobel Prize for economics .

The business mathematician Frank Riedel has been Managing Director of the IMW since 2009 .

Research performance

The research performance of the members of the IMW is documented by numerous frequently cited publications in important international journals from economics and mathematics . There are also refereed publications in related areas such as statistics , theoretical biology or theoretical philosophy .

Members of the institute work on an honorary basis on the editorial boards of ten specialist journals, including the Journal of Mathematical Economics (co-editor: Frank Riedel and Walter Trockel ), Economic Theory (co-editor: Frank Riedel) and the Journal of Economic Dynamics and Control (co-editor: Herbert Dawid ) . As an award for his life's work in economic theory, Walter Trockel was accepted into the circle of leading economic theorists worldwide, the Economic Theory Fellows , by the Society for the Advancement of Economic Theory .

One of the research activities of the IMW since the early 1970s has been the publication of the institute's own series of discussion papers . According to all common bibliometric indicators, this belongs to the more important half of international economic publication organs (defined as economic discussion paper series, handbooks, specialist book series and specialist journals).

PhD training

As early as 1991, the IMW received approval for a graduate college in business mathematics from the German Research Foundation . The IMW is currently participating in the International Graduate Schools Economic Behavior and Interaction Models (with the Université Paris 1 Panthéon-Sorbonne ) and Stochastics and Real World Models (with the Chinese Academy of Sciences ) as well as at the European Doctorate in Economics - Erasmus Mundus (EDE-EM ) involved. In addition, there is participation in the Bielefeld Graduate School in Theoretical Sciences, which is funded by the German Academic Exchange Service . Several current professors for economic theory from German-speaking countries have written their dissertation and / or habilitation thesis at the IMW.

Diploma and Master’s courses

The IMW played a leading role in the creation of several courses. As early as the end of 1980, the degree course in business mathematics was introduced in close cooperation, particularly with the Faculty of Mathematics. Its focus on the interface between mathematics and economics, supplemented by computer science, closed a gap in the training of research-oriented economists in German-speaking countries. The diploma course, which expired in 2013, was replaced by bachelor and master courses as part of the Bologna process.

Together with the University of Paris I , the Autonomous University of Barcelona and the University of Venice (Ca'Foscari) , the structured degree course Models and Methods of Quantitative Economics (QEM) was developed, funded by the European Union through the Erasmus Mundus scholarship program with over 600,000 euros is promoted. The participants in this master’s degree, which has been offered since the 2006/07 winter semester, complete stays at at least two universities as part of their training, which is intended to prepare them for a subsequent doctorate, which award the degree together. Since 2013, QEM has been integrated into the research-oriented Master’s program Quantitative Economics (QE), which is offered exclusively in Bielefeld.

The three exchange programs initiated by Walter Trockel with universities in the USA should be mentioned among the institute's previous collaborations. Funded by DAAD scholarships, six Bielefeld students were able to complete the first year of the doctoral programs at the University of Georgia in Athens (Georgia, until 2004) and Purdue University in West Lafayette (Indiana, until 2007), including Dirk Krüger and Michèle Tertilt . There was also an exchange with Arizona State University for a few years .

Directors

Trivia

At the initiative of professors from the institute, the Faculty of Economics at Bielefeld University awarded two researchers honorary doctorates: Reinhard Selten, one of the founding members of the IMW, was honored as early as 1989; Leonid Hurwicz received this award in 2004 . Both scientists were later awarded the Nobel Prize in Economics (Selten 1994, Hurwicz 2007).

literature

Web links

Individual evidence

  1. ↑ Overview of the scientific facilities and institutes at Bielefeld University , accessed on October 25, 2013
  2. ↑ Brief description of the history of the IMW , accessed on February 28, 2016
  3. ↑ Research magazine of Bielefeld University 35/2009 ( Memento of the original from November 3, 2013 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 7.5 MB), p. 109 @1@ 2Template: Webachiv / IABot / www.uni-bielefeld.de
  4. ↑ Research magazine of Bielefeld University 35/2009 ( Memento of the original from November 3, 2013 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 7.5 MB), p. 18 @1@ 2Template: Webachiv / IABot / www.uni-bielefeld.de
  5. ↑ a b Homepage with areas of work and employees , accessed on October 25, 2013
  6. ^ Autobiographical article by Reinhard Selten on the nobelprize.org website , accessed on October 25, 2013
  7. ↑ Reinhard Tietz : Frankfurt Years from the Perspective of a Co-player , in: Axel Ockenfels, Abdolkarim Sadrieh (editor): The Selten school of behavioral economics: a collection of essays in honor of Reinhard Selten , page 23
  8. ↑ Roger B. Myerson's autobiographical article on nobelprize.org , accessed October 30, 2013
  9. ↑ IMW publication list , accessed on February 28, 2016
  10. ^ Editorial Board of the Journal of Mathematical Economics , accessed October 31, 2013
  11. ↑ Economic Theory Editorial Board , accessed October 31, 2013
  12. ↑ Editorial Board of the Journal of Economic Dynamics and Control , accessed October 31, 2013
  13. ↑ List of Economic Theory Fellows ( Memento of the original from June 4, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed October 31, 2013 @1@ 2Template: Webachiv / IABot / www.saet.uiowa.edu
  14. ^ (Incomplete) list of IMW discussion papers at EconBiz , accessed on November 1, 2013
  15. ↑ Ranking of international economic publications , determined by Research Papers in Economics based on the IDEAS database (hosted by the Federal Reserve Bank St. Louis ), accessed on October 31, 2013
  16. ↑ List of Almuni and Alumnae of the IMW ( Memento of the original from February 28, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed February 28, 2016 @1@ 2Template: Webachiv / IABot / www.uni-bielefeld.de
  17. ↑ Research magazine of Bielefeld University 35/2009 ( Memento of the original from November 3, 2013 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 7.5 MB), p. 113 @1@ 2Template: Webachiv / IABot / www.uni-bielefeld.de