Cars Hommes wins Distinguished Lorentz Prize and Fellowship
TI Fellow Cars Hommes, professor of Nonlinear Economics Dynamics at the University of Amsterdam, has been awarded with the 6th Distinguished Lorentz Fellowship 2014.
The Distinguished Lorentz Prize and Fellowship are awarded to eminent researchers whose research is interdisciplinary, socially relevant and bridges the gap between the humanities, the social sciences and natural sciences. The Distinguished Lorentz Fellowship, Prize of € 10,000 and workshop are part of the NIAS-Lorentz Program – a collaboration between the Netherlands Institute for Advanced Study in the Humanities and Social Sciences (NIAS, Wassenaar) and the Lorentz Center (Leiden).
During his ten-month fellowship, Cars Hommes will investigate predictive models of economic behaviour. In his research Hommes will use methods that have already been successfully used in the natural sciences. Unlike natural systems, socio-economic systems are influenced by expectations and the behavioural adjustments of individuals. The need for a new conceptual framework, interdisciplinary collaboration and improved forecasting models is an issue that has been raised repeatedly by international policy makers.
The Distinguished Lorentz Fellowship is an annual award for researchers who carry out interdisciplinary research linking studies in humanities, natural sciences and social sciences. The award consists of a residential fellowship at NIAS in Wassenaar, an international workshop at the Lorentz Center, and a prize of €10,000. Sijbolt Noorda, chair of the NIAS-Lorentz Advisory Board will present the award to Hommes on May 27 th, 2014 in Wassenaar. Professor Hommes will take up his residential fellowship at the Netherlands Institute for Advanced Study in the Humanities and Social Sciences, from September 2014 to June 2015. During that period, he will also organize an interdisciplinary workshop at the Lorentz Center that brings together senior and junior researchers from various disciplines and different methodologies to work together on creating new ways to model complexity in the socio-economic domain.
Professor Cars Hommes is particularly known for his fundamental and influential work with William Brock (University of Wisconsin, United States) on building a new behavioral heterogeneous expectations paradigm. The work of Hommes and his research group Center for Nonlinear Dynamics in Economics and Finance (CeNDEF, he founded 15 years ago by a Pioneer-grant from NWO) sets global standards. Since 2002, Cars Hommes is one of the editors of the Journal of Economic Dynamics and Control, and is on the editorial boards of Macroeconomic Dynamics, Journal of Nonlinear Science, Computational Economics, Journal of Economic Behavior & Organization and the Journal of Economic Interaction and Coordination. He has published in journals such as Econometrica, Review of Financial Studies, and the Journal of Mathematical Economics.