A world-leading economist is visiting UQ as a guest researcher of the School of Economics and will present a half-day workshop in late June.
Professor Ali Khan from Johns Hopkins University in the USA is an internationally recognised economics expert in large games (strategic situations where the number of players is very large) and will present a workshop entitled Perfect Competition and Large Games: A Mini Course on Thursday, June 25.
Head of the School of Economics Professor Flavio Menezes said the School was pleased to have Professor Khan as its guest until the end of July.
"We’re delighted to be hosting a workshop in association with the Australian Research Council Economic Design Network exploring such an important area of economics," he said.
"The workshop will address recent work that has given more-or-less final shape to the theory of perfect competition and its natural evolution into the theory of large games, a trajectory that goes at least from Adam Smith via Cournot and Walras to Nash and Aumann."
During the visit, Professor Menezes and Professor Khan will also take the opportunity to establish a new joint research project together.
"This project will explore the implications of discrete-time capital theory to regulatory price settings," Professor Menezes said.
"Regulated infrastructure businesses are typically characterised by the presence of large sunken assets; investments that are by and large irreversible.
"Existing regulatory price settings are based on concepts derived from continuous-time investment decision models which have been shown not to appropriate when time is discrete. This will lead to a better understanding of how prices for services such as water and electricity should be set by regulators."
For further information:
Workshop and research information: Professor Flavio Menezes. Phone (07) 3365 6242, mobile 0409 154 656 or email f.menezes@uq.edu.au
Workshop bookings: Ms Louise West. Phone (07) 3365 4482 or email louise.west@uq.edu.au
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