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Tuesday 22 October 2019, 16:00-17:00
Ethics for the working mathematician, lecture 2: Financial Mathematics and Modelling
- đ¤ Speaker: Maurice Chiodo (University of Cambridge)
- đ Date & Time: Tuesday 22 October 2019, 16:00 - 17:00
- đ Venue: MR4, Centre for Mathematical Sciences
Abstract
We all know about examples of mathematicians misbehaving in finance, and even being jailed as a result: Tom Hayes and Ke Xu are two examples. But more subtle are the modelling tools mathematicians produce. Mathematical modelling is ubiquitous in understanding the way the world works, from finance to physics to climate patterns. Understanding how to develop and use a model, as well as its limitations, and the way it interacts with the world, is indispensable in preventing it from causing harm. Unfortunately, as we saw in the financial crash of 2007, such models are sometimes poorly understood, with devastating consequences.
Series This talk is part of the C.U. Ethics in Mathematics Society (CUEiMS) series.
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