He received his PhD from Cornell University in 1978. His areas of research activity include mathematical finance and economics, quantitative behavioral finance, free boundary problems, computational and analytical phase field models, renormalization and multi-scaling methods, and nonlinear hyperbolic differential equations.
He has been Editor of the Journal of Behavioral Finance from 2000 through 2004, and has been an Associate Editor of Applied Mathematical Finance He has worked on designing and modeling of economics experiments, particularly asset market experiments for over ten years. Among his nearly 100 journal publications are nine with Nobel Laureate Vernon Smith.
He has significant contributions to academic literature in the following areas:
Quantitative Behavioral Finance is a new discipline that uses mathematical and statistical methodology to understand behavioral biases in conjunction with valuation.. Some of this endeavor has been lead by Gunduz Caginalp (Professor of Mathematics and Editor of Journal of Behavioral Finance during 2001-2004) and collaborators including Vernon Smith (2002 Nobel Laureate in Economics), David Porter, Don Balenovich, Vladimira Ilieva, Ahmet Duran, Huseyin Merdan). Studies by Jeff Madura, Ray Sturm and others have demonstrated significant behavioral effects in stocks and exchange traded funds.
The research can be grouped into the following areas:
1. Empirical studies that demonstrate significant deviations from classical theories .
2. Modeling using the concepts of behavioral effects together with the non-classical assumption of the finiteness of assets.
3. Forecasting based on these methods.
4. Studies of experimental asset markets and use of models to forecast experiments.
PITT RESEARCHERS FIND RECENT PRICE TRENDS AFFECT FINANCIAL TRADING PRICES TO A MAGNITUDE OF ALMOST HALF THAT OF VALUATION.
Jan 14, 2011; PITTSBURGH, PA -- The following information was released by the University of Pittsburgh: While savvy investors might say that a...
PITT RESEARCHERS FIND RECENT PRICE TRENDS AFFECT FINANCIAL TRADING PRICES TO MAGNITUDE OF ALMOST HALF THAT OF VALUATION
Jan 14, 2011; PITTSBURG, Pa., Jan. 14 -- University of Pittsburgh issued the following news release: While savvy investors might say that a...