Title:Efficiency and Learning in Dynamic Environments

Speaker:John Birge, Chicago Booth

Time: 2025年10月21日15:30

Place:  国际金融研究院2号楼201

Abstract: 

In many dynamic systems, the actions of multiple agents collectively determine theirinformation states and rewards. Both their actions and observed outcomes affectother agents' information and their future actions. Existing market mechanisms canlimit agents’ actions and lead to sub-optimal behavior, potentially for all. This talkwill describe examples of such situations in online consumer markets, electricitymarkets, and digital products, and potential mechanisms to improve overall marketefficiency and social welfare.

Bio:

John Birge is the Hobart W. Williams Distinguished ServiceProfessor ofOperationsManagement at the University of Chicago Booth School of Business. He earned abachelor's degree in mathematics from Princeton University in 1977 and a master'sdegree and a PhD in operations research from Stanford University in 1979and1980,respectively. He joined the Chicago Booth faculty in 2004.

Before he joined Chicago Booth, he was a former dean of the Robert R.McCormickSchool of Engineering and Applied Sciences at Northwestern University. He hasalso worked as a consultant for a variety of firms including the University of Michigan Hospitals, Deutsche Bank, Allstate Insurance Company ,and Morgan Stanley, and he uses cases from these experiences in his teaching.

His work focuses on application, theory, and computation for decision making underuncertainty with applications in the management of operations in finance,energy,health care, manufacturing, public policy, and transportation. He is an INFORMSFellow, MSOM Society Distinguished Fellow, member of the US National Academyof Engineering, and a former Editor-in-Chief of Operations Research.

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