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SUMMARY:Bernoulli Lecture - Continuous-time random matching
DTSTART:20170529T171500
DTEND:20170529T181500
DTSTAMP:20260407T183858Z
UID:8ea947c1bc7f820bdf87b2d3936c9e9d8745592d5ec5b7de284b5b57
CATEGORIES:Conferences - Seminars
DESCRIPTION:Darrell Duffie (Stanford University)\nWe show the existence of
  independent random matching of a large population in a continuous-time dy
 namical system\, where the matching intensities could be general non-negat
 ive jointly continuous functions on the space of type distributions and th
 e time line. In particular\, we construct a continuum of independent conti
 nuous-time Markov processes that is derived from random mutation\, random 
 matching\, random type changing and random break up with time-dependent an
 d distribution dependent parameters. It follows from the exact law of larg
 e numbers that the deterministic evolution of the agents' realized type di
 stribution for such a continuous-time dynamical system can be determined b
 y a system of differential equations. The results provide a mathematical f
 oundation for a large literature on search-based models of labor markets\,
  money\, and over-the-counter markets for financial products.\nJoint work 
 with Lei Qiao and Yeneng Sun.
LOCATION:BI A0 448 https://plan.epfl.ch/?room==BI%20A0%20448
STATUS:CONFIRMED
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