» Published on
19. Oktober 2017
Taming uncertainties, profiting from randomness
Opening ceremony of the Collaborative Research Centre at Bielefeld University
Uncertainty,
chaos, and randomness are ubiquitous in modern societies. In recent
decades, probability theory has made major advances in understanding
randomness. This has been of great use in biology and physics and has
led to new applications in financial markets. Nonetheless, as shown
specifically by developments on the financial markets, there are
uncertainties that mathematics has yet to grasp exactly, and these can
result in great turmoil. Taming this uncertainty, but also gaining a
better understanding of randomness in economics, physics, and biology,
is the topic of a Collaborative Research Centre that was approved by the
German Research Foundation (DFG) in May this year. On the 25th of
October, the CRC will be celebrating its kick off with international
guests.
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