Pierre Devolder

 
Pierre Devolder is professor at the Institute of Actuarial Sciences at UCL and is member of the Royal Association of Belgian Actuaries (ARAB). He’s the author of different books on pensions and stochastic finances.

In this ResearchTalks, Pierre Devolder will talk about risk modelling. The concept of risk is at the heart of the banking and insurance industries and has motivated these last 30 years the development of a huge number of mathematical models mainly based on probability and statistics. These models have then permitted to create new financial products, more and more sophisticated, in order to satisfy the increasing needs of speculation and protection of the private and institutional investors. But more and more doubts have emerged with the recent financial crisis about the responsibility of these mathematical models on the financial collapse and the increasing distance between the financial world and the real economy. So we will try to see if it is still reasonable to play with quantitative finance! In particular, we will compare the techniques and the underlying assumptions generally used in insurance and finance modeling.

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