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IEEE/IAFE Computational Intelligence
in Financial Engineering
March 24-26 1996
Crowne Plaza Manhattan, New York
Sponsored by
- The Institute of Electrical & Electronic Engineers (IEEE):
Neural Networks Council
- International Association of Financial Engineering (IAFE)
Contents:
- Conference Scope
- Sponsors
- Conference & Tutorial Fees
- Hotel Reservation Information
- Technical Program
- Tutorial Information
- Exhibit Information
- Further Information
- Program Committee
----------------
Conference Scope
----------------
The IEEE/IAFE CIFEr Conference is the second annual collaboration between
the professional engineering and financial communities, and is one of the
leading forums for new technologies and applications in the intersection of
computational intelligence and financial engineering. Intelligent
computational systems have become indispensable in virtually all financial
applications, from portfolio selection to proprietary trading to risk
management.
--------
Sponsors
--------
Sponsorship for the CIFEr Conference is being provided by the IAFE
(International Association of Financial Engineers) and the IEEE Neural
Networks Council. The IEEE (Institute of Electrical and Electronics
Engineers) is the world's largest engineering and computer science
professional non-profit association and sponsors hundreds of technical
conferences and publications annually. The IAFE is a professional
non-profit financial association with members worldwide specializing in new
financial product design, derivative structures, risk management
strategies, arbitrage techniques, and application of computational
techniques to finance.
----------------------------
CONFERENCE AND TUTORIAL FEES
----------------------------
REGISTRATION FEES
EARLY BIRD CONFERENCE REGISTRATION THROUGH MARCH 8, 1996
IEEE & IAFE MEMBERS ............................ $400
NON-MEMBERS .................................... $550
FULL-TIME STUDENTS* ............................ $190
KEYNOTE SPEECH LUNCHEON MEAL TICKET
(Monday, March 25) ........................ $ 10
AFTER MARCH 8, 1996
IEEE & IAFE MEMBERS ............................ $450
NON-MEMBERS .................................... $600
FULL-TIME STUDENTS* ............................ $240
KEYNOTE SPEECH LUNCHEON MEAL TICKET
(Monday, March 25) ........................ $ 30
*Students must submit evidence of full-time enrollment on
University letterhead.
Conference registration fee includes refreshments, the
cocktail reception (on Sunday, March 24 at 5:15 P.M.) and
the conference proceedings. Be sure to attend the keynote
speech luncheon. You may send a check or money order for
your registration fee, or pay by credit card. Please make
your check payable to "IEEE & IAFE CIFEr '96 Conference" and
print the attendee(s) name(s) on the face of the check.
--------------------------------
CIFEr TUTORIAL REGISTRATION FEES
--------------------------------
Tutorial Registration includes one morning and one afternoon
tutorial. Tutorial registration fee includes refreshments,
the cocktail reception (on Sunday, March 24 at 5:15 P.M.)
and a copy of the tutorial presentation.
EARLY BIRD TUTORIAL REGISTRATION THROUGH MARCH 8, 1996
IEEE & IAFE MEMBERS .............................. $350
NON-MEMBERS ...................................... $400
FULL-TIME STUDENTS ............................... $175
AFTER MARCH 8, 1996
IEEE & IAFE MEMBERS .............................. $400
NON-MEMBERS ...................................... $500
FULL-TIME STUDENTS ............................... $200
---------------------------------------------
HOTEL RESERVATION FORM CIFEr '96, MARCH 24-26
---------------------------------------------
Please reserve before the MARCH 1, 1996 DEADLINE. After
March 1st rooms are subject to availability.
Mail to: Crowne Plaza Manhattan, Reservations Dept.
1605 Broadway
New York, N.Y. 10019
Phone: Res. (212) 977-4000
or (800) 243-6969; Fax: (212) 333-7393
Arrival Date __________
Arrival Time* __________
Departure Time __________
Name________________________________________________________
Company_____________________________________________________
Address_____________________________________________________
____________________________________________________________
City/State/Zip/Country______________________________________
Telephone ( )_________________________
*Reservations subject to cancellation after 4 P.M. unless
held by one night's deposit or credit card guarantee.
Check-in time is 3:00 pm. Check-out time is 12:00 Noon.
Reservations must include a first night's depositplus 13.25%
State and City Taxes and $2.00 per night Occupancy Tax.
Indicate Accommodations:
Hotel Level Club Level Room Type Request
___ Single - $155 ___ Single - $180 ___King
___ Double - $155 ___ Double - $180 ___Double/Double
Sharing Room With:_________________________________________
Check if Handicapped Accommodations required: ___
Credit Card: VISA ___ MC ___ AMEX ___ DISCOVER ___
DINER CLUB ___
CC#________________________________________________________
Exp. Date __________
Authorized Signature _______________________________________
___ One night deposit enclosed: $___________
Make check payable and mail to "The Crowne Plaza Manhattan"
-----------------------------
CIFEr CONFERENCE REGISTRATION
-----------------------------
Last Name _______________________________________________
First Name/Middle _______________________________________
__ IAFE __ IEEE Membership
#____________________________(Must be included for discount)
Mailing Address ____________________________________________
____________________________________________________________
City _________________________________ State _______________
ZIP ___________ Country _____________________________
E-Mail_________________________________
Telephone
- Office ( )_____________________
- Fax ( ) _____________________
TO APPEAR ON BADGE
Name ___________________________________________
Affiliation ____________________________________
City/State _________________
CONFERENCE REGISTRATION FEES ENCLOSED: (Includes one set of
Proceedings)
Before Mar. 8, 1996 After March 8, 1996
IEEE/IAFE Member __ $400 __ $450
Non Members __ $550 __ $600
*Students __ $190 __ $240
*(Students must include letter from Department Head stating
full-time student status)
MAIL TO: CIFEr Conference Office Tel. (800) 321-6338
2603 Main Street, Suite 600 Tel. (714) 752-8205
Irvine, CA 92714 USA Fax (714) 752-7444
--------------------------
TUTORIAL REGISTRATION FEES
--------------------------
Tutorial will be held on Sunday, March 24. Tutorials may be
canceled for insufficient number of registrants.
Registration will be on a first-come, first-served basis.
Through March 8 After March 8
IEEE & IAFE MEMBERS __ $350 __ $400
NON-MEMBERS __ $400 __ $450
FULL-TIME STUDENTS __ $175 __ $200
TUTORIAL SELECTION Please indicate tutorials #'s
Tutorial # Alternative Selection
A.M. Tutorial __________ ___________
P. M. Tutorial __________ ___________
PAYMENT ENCLOSED
REGISTRATION FEES $ __________
TUTORIAL FEES $ __________
KEYNOTE LUNCHEON $ __________
GRAND TOTAL ENCLOSED $ __________
ENCLOSE CHECK PAYABLE TO CIFEr '96
Check # ____________________ Amount $_________________
Credit Card: VISA _____ MC _____ AMEX _____
Credit Card Number __________________________________
Exp. Date ___________________________________________
Authorized Signature _________________________________
*************************
FOREIGN PAYMENTS MUST BE MADE BY DRAFT ON A US BANK IN US
DOLLARS
---------------
PROGRAM OUTLINE
---------------
SUNDAY, MARCH 24
----------------
8:00-9:30 AM Tutorial Registration
8:30 AM-12:30 PM Optional Tutorials:
1) Tutorial E1 (Engineering Track) -
"Robust Statistical Methods for Analyzing
and Modeling Financial Data" - R. Douglas Martin,
University of Washington
2) Tutorial F1 (Finance Track) -
"Exotic Options" - Peter Zhang, Chemical Bank
3) Tutorial F2 (Finance Track) -
"Term Structure Modeling" - Richard H. Stanton,
University of California, Berkeley
10:30-10:45 AM Tutorials Refreshment Break
12:30-1:30 PM Lunch on Own
1:30-5:30 PM Optional Tutorials:
1) Tutorial F3 (Finance Track) -
"Risk Management" - Jan W. Dash,
Global Risk Management, Smith Barney
2) Tutorial E2 (Engineering Track) -
"Data-Driven Methods for Modeling
Nonlinear Financial Time Series" - Bonnie K. Ray,
New Jersey Institute of Technology
3) Tutorial E3 (Engineering Track) -
"Neural Networks, Genetic Algorithms and Case-Based
Reasoning for Financial Engineering Applications" -
Roy S. Freedman,
Inductive Solutions, Inc.
3:00-6:00 PM CIFEr'96 Conference Registration
5:15-6:15 PM CIFEr'96 Reception
-=-=-=-=-=-=-=-=-=-=-=-=-=-
MONDAY, MARCH 25
----------------
6:30 AM-5:00 PM Conference Registration
7:00 AM-6:00 PM EXHIBITS OPEN
7:45-8:00 AM CIFEr WELCOME - General Session
8:00-9:30 AM #1: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Financial Computing Environments" -
Session Chair: Patrick Jaillet
2) FINANCE TRACK: "Simulation Techniques for Derivatives
Pricing" - Session Chair: Erik Ordentlich
9:30-10:00 AM Refreshment Break
10:00-11:30 AM #2: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Market Behavior Models" - Session
Chair: Sam Leven
2) FINANCE TRACK: "Financial Time Series Prediction I" -
Session Chair: Hillol Kargupta
11:30 AM-Noon POSTER SESSION IN EXHIBIT HALL
12:00-1:30 PM LUNCHEON
1:30-2:30 PM #3: FINANCE KEYNOTE SPEECH - Professor Stephen Figlewski -
"Finance, Engineering, and Financial Engineering"
2:30-3:30 PM POSTER SESSION IN EXHIBIT HALL
3:30-5:00 PM #4: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Chaos and Time Series for
Financial Systems"
Session Chair: Paul Werbos
2) FINANCE TRACK: "Financial Market Volatility" -
Session Chair: Alan Tucker
-=-=-=-=-=-=-=-=-=-=-=-=-=-
TUESDAY, MARCH 26
-----------------
7:00 AM-3:30 PM EXHIBITS OPEN
8:00-9:30 AM #5: ENGINEERING KEYNOTE SPEECH - John M. Mulvey - "Solving
Robust Optimization Models in Finance" & PANEL DISCUSSION
9:30-10:15 AM POSTER SESSION IN EXHIBIT HALL
10:15-11:45 AM #6: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Neural Nets for Financial
Applications" - Session Chair: Yuval Lirov
2) FINANCE TRACK: "Financial Time Series
Prediction II" - Session Chair: Maloje Makivic
11:45 AM-1:30 PM EXHIBITS OPEN & LUNCH ON OWN
1:30-3:00 PM #7: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Fuzzy Logic for Financial
Applications" - Session Chair: Yuval Lirov
2) FINANCE TRACK: "Term Structure Modeling" - Session
Chair: David Vaccari
3:00-3:30 PM POSTER SESSION IN EXHIBIT HALL
3:30-5:00 PM #8: SPLIT SESSIONS:
1) ENGINEERING TRACK: "Financial Data Mining" - Session
Chair: Mohamed Hambaba
2) FINANCE TRACK: "Business Decision Tools" - Session
Chair: Alan Tucker
IEEE/IAFE 1996
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http://www.ieee.org/nnc/conferences/cfp/cifer96.html
------------------
ORAL PRESENTATIONS
------------------
Financial Computing Environments
--------------------------------
"New Computational Architectures for Pricing Derivatives"
R. Freedman, R. DiGiorgio
"CAFE: A Complex Adaptive Financial Environment"
R. Even, B. Mishra
"Financial Trading Center at the University of Texas"
P. Jaillet
Market Behavior Models
----------------------
"Neural Networks Prediction of Multivariate Financial Time Series: The Swiss
Bond Case"
T. Ankenbrand, M. Tomassini
"Bridging the Gap Between Nonlinearity Tests and the Efficient Market
Hypothesis by Genetic Programming"
S. Chen, C. Yeh
"Models of Market Behavior: Bringing Realistic Games to Market"
S. Leven
Chaos and Time Series for Financial Systems
-------------------------------------------
"Impetus for Future Growth in the Globalization of Stock Investments:
An Evidence from Joint Time Series and Chaos Analyses"
M. Hoque
"Finding Time Series Among the Chaos: Stochastics, Deseasonalization, and
Texture-Detection using Neural Nets"
P. Werbos
"Financial Time Series Analysis and Forecasting Using Computer Simulation
and Methods of Nonlinear Adaptive Control of Chaotic Systems"
A. Fradhov, S. Fradhov, A. Markov, D. Oliva
Neural Nets for Financial Applications
--------------------------------------
"Experiments in Predicting the German Stock Index DAX with Density Estimating
Neural Networks"
D. Ormoneit, R. Neuneier
"Stock Market Prediction Using Different Neural Network Classification
Architectures"
C. Dagli, K. Schierholt
"Modelling Stock Return Sensitivities to Economic Factors with the Kalman
Filter and Neural Networks"
Y. Bentz, L. Boone, J. Connor
Fuzzy Logic for Financial Applications
--------------------------------------
"Computer Supported Determination of Bank Credit Conditions"
S. Schwarze
"Fuzzy Logic and Genetic Algorithms for Financial Risk Management"
T. Rubinson, R. Yager
"Foreign Exchange Rate Prediction by Fuzzy Inferencing on Deterministic
Chaos"
S. Ghoshray
Financial Data Mining
---------------------
"Stock Selection Combining Rule Generation and Risk/Reward Portfolio
Optimization"
C. Apte, S. Hong, A. King
"Data Driven Risk Management System"
R. Grossman
"Intelligent Hybrid System for Data Mining"
M. Hambaba
Simulation Techniques for Derivatives Pricing
---------------------------------------------
"Path Integral Monte Carlo Method and Maximum Entropy: A Complete Solution
for the Derivative Valuation Problem"
M. Makivic
Problems with Monte Carlo Simulation in the Pricing of Contingent Claims"
J. Molle, F. Zapatero
"Faster Simulation of the Prices of Derivative Securities"
S. Paskov
Financial Time Series Prediction I
----------------------------------
"Automated Mathematical Modelling for Financial Time Series Prediction Using
Fuzzy Logic, Dynamical Systems and Fractal Theory"
O. Castillo, P. Melin
"Max-Min Optimal Investing"
E. Ordentlich, T. Cover
"Building Long/Short Portfolios Using Rule Induction"
G. John, P. Miller
Financial Time Series Prediction II
-----------------------------------
"Adaptive Rival Penalized Competitive Learning and Combined Linear
Predictor with Application to Financial Investment"
Y. Cheung, Z. Lai, L. Xu
"A Rule-based Neural Stock Trading Decision Support System"
S. Chou, C. Chen, C. Yang, F. Lai
"The Gene Expression Messy Genetic Algorithm for Financial
Applications"
H. Kargupta, K. Buescher
Term Structure Modeling
-----------------------
"Analysing Shocks on the Interest Rates Structure with Kohonen Map"
M. Cottrell, E. De Bodt, P. Gregoire, E. Henrion
"Interest Rate Futures: Estimation of Volatility Parameters in an
Arbitrage-Free Framework"
R. Bhar, C. Chiarella
"Prediction of Individual Bond Prices Via the TDM Model"
T. Kariya, H. Tsuda
Financial Market Volatility
---------------------------
"Robust Estimation Analytics for Financial Risk Management"
H. Green, R. Martin, M. Pearson
"Implied Volatility Functions: Empirical Tests"
B. Dumas, J. Fleming, R. Whaley
"Evaluation of Common Models Used in the Estimation of
Historical Volatility"
J. Dalle Molle
Business Decision Tools
-----------------------
"Fuzzy Queries for Top-Management Succession Planning"
T. Sutter, M. Schroder, R. Kruse, J. Gebhardt
"Density Based Clustering and Radial Basis Function Modeling
to Generate Credit Card Fraud Scores"
V. Hanagandi, A. Dhar, K. Buescher
"Nonlinear Analysis of Retail Performance"
D. Vaccari
--------------------
POSTER PRESENTATIONS
--------------------
"Fuzzy Set Methods for Uncertainty Representation in Risky
Financial Decisions"
R. Yager
"Trading Mechanisms and Return Volatility: Empirical Investigation on
Shang Hai Stock Exchange Based on a Neural Network Model"
Z. Lai, Y. Chuang, L. Xu
"Application of Fuzzy Regression Models to Predict Exchange Rates for
Composite Currencies"
S. Ghoshray
"Risk Management in an Uncertain Environment by Fuzzy Statistical Methods"
S. Ghoshray
"Heuristic Techniques in Tax Structuring for Multinationals"
D. Fatouros, G. Salkin, N. Christofides
"MLP and Fuzzy Approaches to Prediction of the SEC's Investigative Targets"
E. Feroz, T. Kwon
"A Corporate Solvency Map Through Self-Organizing Neural Networks"
Y. Alici
"The Applicability of Information Criteria for Neural Network Architecture
Selection"
C. Haefke, C. Helmenstein
"Stock Prediction Using Different Neural Network Classification Architectures"
C. Dagli, K. Schierholt
IEEE/IAFE 1996
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TUTORIALS
---------
Sunday, March 24
There are two tracks for the tutorials. Both the Engineering Track and
the Finance Track offer three choices each of 4-hour presentations.
Participants should select one morning tutorial and one afternoon
tutorial, as the tutorial registration fee covers the full day (two
tutorials). Tutorials will be held from 8:30 AM to 5:30 PM on Sunday,
March 24th at the Crowne Plaza Manhattan. Registration is on a
first-come, first-served basis for tutorial selection, so send your
registration form in as soon as possible.
ENGINEERING TRACK TUTORIALS
---------------------------
E-1 - Robust Statistical Methods for Analyzing
and Modeling Financial Data
8:30 am-12:30 pm
R. Douglas Martin, Professor
Department of Statistics
University of Washington
The tutorial shows how and why the classical statistical methods
underlying financial analysis and modeling, such as the sample standard
deviation, the sample correlation coefficient and linear regression
methods, are non-robust toward outliers and sometimes give misleading or
useless results. Basic theoretical foundations of robust statistical
methods are outlined, and robust alternatives to the classical methods are
introduced and illustrated in the context of important financial data
applications, such as volatility and risk metric calculations.
-=-=-=-=-=-=-=-=-=-=-=-=-=-
E-2 - Data-Driven Methods for Non-Linear Time Series Modeling:
Multivariate Adaptive Regression Splines (MARS) and
Autoregressive Modular (ARM)
1:30-5:30 pm
Bonnie K. Ray, Professor
Department of Mathematics and Center
for Applied Math and Statistics
New Jersey Institute of Technology
This two-part tutorial covers in detail two new classes of computationally
intensive algorithms for modeling nonlinear time series. The first part
covers the application of Multivariate Adaptive Regression Splines (MARS)
to model univariate nonlinear time series having threshold autoregressive
behavior. Extensions will then be presented to Semi-Multivariate Adaptive
Spline Threshold Autoregressive (SMASTAR) models. The second part
presents the class of Autoregressive Modular (ARM) models and will
concentrate on the special case of Transform-Expand-Sample (TES)
processes.
-=-=-=-=-=-=-=-=-=-=-=-=-=-
E-3 - Neural Networks, Genetic Algorithms and Case-Based Reasoning
for Financial Engineering Applications
1:30-5:30 pm
Dr. Roy S. Freedman
President
Inductive Solutions, Inc.
This tutorial shows how these quantitative techniques are used in
practice, with topics covered including: 1) Comparing linear, nonlinear,
and time-varying regression to neural networks, 2) Using neural network
techniques to adaptively learn how to price options, 3) Using genetic
algorithms in portfolio optimization problems, 4) Designing derivative
securities with genetic algorithms, 5) The news on news: how case-based
expert systems integrate subjective knowledge into fundamental models.
FINANCE TRACK TUTORIALS
-----------------------
F-1 - Exotic Options
8:30AM-12:30 pm
Peter Zhang
Vice President
Chemical Bank
This tutorial examines the valuation, use and hedging of second-generation
option products including various types of path-dependent options,
correlation options, compound options, digitals, deferred-start options,
and others. The tutorial illustrates how exotic options are employed to
create structured note products like corridor bonds. Issues like multiple
and exploding greeks are addressed, as well as correlation risk. Hedging
techniques like mirror imaging/ static replication and ramp building are
examined.
-=-=-=-=-=-=-=-=-=-=-=-=-=-
F-2 - Term Structure Modeling
8:30 am -12:30 pm
Richard H. Stanton
Assistant Professor
Haas School of Business
University of California - Berkeley
This tutorial details the development, parameterization and implementation
of equilibrium and no-arbitrage style term structure models. Single and
multi-factor models are examined. Issues covered include duration and
convexity measurement and the valuation of various forms of interest-rate
derivatives including pure discount bonds, bond options, caps, and the
like.
-=-=-=-=-=-=-=-=-=-=-=-=-=-
F-3 - Risk Management
1:30-5:30 pm
Jan W. Dash, Ph.D.
Director
Quantitative Analysis
Global Risk Management
Smith Barney
This tutorial will cover 1) characterization of risks in finance: market
risk (interest rates, FX rates, equity indices, spreads), trading risk,
systems risk (software, hardware, vendors), model risk, and 2)
quantitative measurement of risk: the Greeks (Delta, Gamma, Vega), the
partial Greeks (Ladders), the new Greeks (Exotics), dollars at risk
(n-Sigma analysis), correlations, static scenario analysis, dynamic
scenario analysis, Monte Carlo risk analysis, beginnings of risk
standards, DPG, Risk Metrics, and 3) case study of risk: the Viacom CVR
Options and 4) pricing and hedging for interest rate derivatives.
-------------------
EXHIBIT INFORMATION
-------------------
Businesses with activities related to financial engineering, including
software & hardware vendors, publishers and academic institutions, are
invited to participate in CIFEr's exhibits. Further information about the
exhibits can be obtained from the CIFEr-secretariat, Barbara Klemm.
(1-800-321-MEET)
-------------------
FURTHER INFORMATION
-------------------
CIFEr Secretariat:
Meeting Management
IEEE/IAFE Computational Intelligence
for Financial Engineering
2603 Main Street, Suite #690
Irvine, California 92714
Tel: (714) 752-8205 or (800) 321-6338
Fax: (714) 752-7444
Email: Meetingmgt@aol.com
--------------------
ORGANIZING COMMITTEE
--------------------
Conference Committee General Co-chairs:
John Marshall, Professor of Financial Engineering
Polytechnic University, New York, NY
Robert Marks, Professor of Electrical Engineering,
University of Washington, Seattle, WA
Program Committee Co-chairs:
Benjamin Melamed, Ph.D., Research Scientist
RUTCOR-Rutgers University's Center for Operations Research
Alan Tucker, Associate Professor of Finance
Pace University, New York, NY
International Liaison:
Arnold Jang, Vice President, Intelligent Trading Systems
Springfields Investments Advisory Company, Taipei, Taiwan
Organizational Chair:
Robert Golan, President
Rough Knowledge Discovery Inc.
Finance Chair:
Ingrid Marshall, Accountant
Marshall & Marshall, Stroudsburg, PA
Exhibits Chair:
Steve Piche, Lead Scientist
Pavillion Inc, Austin
Program Co-Chair:
Alan Tucker and Benjamin Melamed
Program Committee:
Phelim Boyle, Professor of Accounting
University of Waterloo, Waterloo, Ontario
Mark Broadie, Associate Professor of Finance
Graduate School of Business
Columbia University, New York, NY
Jan Dash, Ph.D, Managing Director
Smith Barney, New York, NY
Stephen Figlewski, Professor of Finance
New York University, New York, NY
Roy S. Freedman, Ph.D, President
Inductive Solutions, Inc, New York, NY
Peter L. Hammer, Professor and Director
RUTCOR-Rutgers University's Center for Operations Research,
New Brunswick, NJ
Jimmy E. Hilliard, Professor of Finance
University of Georgia, Athens, GA
John Hull, Professor of Management
University of Toronto, Toronto, Ontario
Yuval Lirov, Ph.D., Vice President
Lehman Brothers, Inc, New York, NY
David G. Luenberger, Professor of Electrical Engineering
Stanford University, Stanford, CA
John M. Mulvey, Professor and Director
Engineering Management Systems
Princeton University, Princeton, NJ
Jason Z. Wei, Associate Professor of Finance
University of Saskatchewan, Saskatoon
Robert E. Whaley, Professor of Business
Futures and Options Research Center
Duke University, Durham, NC
Publicity Chair
Michael Wolf, General Manager
Financial Products, The Mathworks, Inc., Natick, MA
Electronic Publicity Chair
Payman Arabshahi, Assistant Professor of Electrical Engineering
University of Alabama in Huntsville, Huntsville
Conference Liaison
Scott Mathews, Senior Associate
Marshall, Tucker, and Associates, Edmonds, WA