Erhan Çinlar
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Erhan Çinlar
Erhan Çınlar (born May 28, 1941, Divriği, Sivas-Turkey) is a probabilist and Professor Emeritus at Princeton University. He was the Norman J. Sollenberger Professor of the department of Operations Research and Financial Engineering (ORFE) at Princeton University. Academic life He received a B.S. in Mathematics and a M.S. and Ph.D. in Industrial Engineering and Operations Research, all from the University of Michigan in 1963, 1964 and 1965, respectively. His dissertation, ''Analysis of Systems of Queues in Parallel'', was supervised by Ralph L. Disney, the academic grandson of logician Bjarni Jónsson. In 1965, he joined the department of Industrial Engineering and Management Sciences as an assistant professor at Northwestern University. During 1971-1972, he was a visiting professor in the department of Management Science and Engineering at Stanford University, and became full professor of Operations Research in 1972 at Northwestern. He then joined the department of Civil En ...
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Divriği
Divriği (formerly Tephrike, Greek: Τεφρική) is a small town and district of Sivas Province of Turkey. The town lies on gentle slope on the south bank of the Çaltısuyu river, a tributary of the Karasu river. The Great Mosque and Hospital of Divriği, along with the adjoining hospital (''Darüşşifa''), are on UNESCO's World Heritage List by virtue of the exquisite carvings and architecture of both buildings. Hakan Gök is the current mayor. History Middle Ages Tephrike was recaptured by the Byzantine Empire during the reign of Emperor Basil I and was temporarily named Leontokome (after Emperor Leo VI) and made into a '' thema''. It had been founded ca. 850 by Karbeas, the leader of the Paulicians, a heretical Armenian sect that adhered to a dualistic cosmology. The Paulicians fortified it and used it as refuge and the capital of their state during the ninth century.Foss, Clive. "Tephrike". ''Oxford Dictionary of Byzantium''. vol. 3. Oxford: Oxford University Press, ...
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Industrial Engineering
Industrial engineering is an engineering profession that is concerned with the optimization of complex process (engineering), processes, systems, or organizations by developing, improving and implementing integrated systems of people, money, knowledge, information and equipment. Industrial engineering is central to manufacturing operations. Industrial engineers use specialized knowledge and skills in the mathematical, physical and social sciences, together with the principles and methods of engineering analysis and design, to specify, predict, and evaluate the results obtained from systems and processes.Salvendy, Gabriel. Handbook of Industrial Engineering. John Wiley & Sons, Inc; 3rd edition p. 5 There are several industrial engineering principles followed in the manufacturing industry to ensure the effective flow of the systems, processes and operations. This includes Lean Manufacturing, Six Sigma, Information Systems, Process Capability and Define, Measure, Analyze, Improve a ...
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Living People
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Fellow
A fellow is a concept whose exact meaning depends on context. In learned or professional societies, it refers to a privileged member who is specially elected in recognition of their work and achievements. Within the context of higher educational institutions, a fellow can be a member of a highly ranked group of teachers at a particular college or university or a member of the governing body in some universities (such as the Fellows of Harvard College); it can also be a specially selected postgraduate student who has been appointed to a post (called a fellowship) granting a stipend, research facilities and other privileges for a fixed period (usually one year or more) in order to undertake some advanced study or research, often in return for teaching services. In the context of research and development-intensive large companies or corporations, the title "fellow" is sometimes given to a small number of senior scientists and engineers. In the context of medical education in No ...
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Mathematical Finance
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets. In general, there exist two separate branches of finance that require advanced quantitative techniques: derivatives pricing on the one hand, and risk and portfolio management on the other. Mathematical finance overlaps heavily with the fields of computational finance and financial engineering. The latter focuses on applications and modeling, often by help of stochastic asset models, while the former focuses, in addition to analysis, on building tools of implementation for the models. Also related is quantitative investing, which relies on statistical and numerical models (and lately machine learning) as opposed to traditional fundamental analysis when managing portfolios. French mathematician Louis Bachelier's doctoral thesis, defended in 1900, is considered the first scholarly work on mathematical fina ...
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Stochastic Analysis
Stochastic calculus is a branch of mathematics that operates on stochastic processes. It allows a consistent theory of integration to be defined for integrals of stochastic processes with respect to stochastic processes. This field was created and started by the Japanese people, Japanese mathematician Kiyoshi Itô during World War II. The best-known stochastic process to which stochastic calculus is applied is the Wiener process (named in honor of Norbert Wiener), which is used for modeling Brownian motion as described by Louis Bachelier in 1900 and by Albert Einstein in 1905 and other physical diffusion processes in space of particles subject to random forces. Since the 1970s, the Wiener process has been widely applied in financial mathematics and economics to model the evolution in time of stock prices and bond interest rates. The main flavours of stochastic calculus are the Itô calculus and its variational relative the Malliavin calculus. For technical reasons the Itô inte ...
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Brownian Motion
Brownian motion, or pedesis (from grc, πήδησις "leaping"), is the random motion of particles suspended in a medium (a liquid or a gas). This pattern of motion typically consists of random fluctuations in a particle's position inside a fluid sub-domain, followed by a relocation to another sub-domain. Each relocation is followed by more fluctuations within the new closed volume. This pattern describes a fluid at thermal equilibrium, defined by a given temperature. Within such a fluid, there exists no preferential direction of flow (as in transport phenomena). More specifically, the fluid's overall linear and angular momenta remain null over time. The kinetic energies of the molecular Brownian motions, together with those of molecular rotations and vibrations, sum up to the caloric component of a fluid's internal energy (the equipartition theorem). This motion is named after the botanist Robert Brown, who first described the phenomenon in 1827, while looking throu ...
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Markov Process
A Markov chain or Markov process is a stochastic model describing a sequence of possible events in which the probability of each event depends only on the state attained in the previous event. Informally, this may be thought of as, "What happens next depends only on the state of affairs ''now''." A countably infinite sequence, in which the chain moves state at discrete time steps, gives a discrete-time Markov chain (DTMC). A continuous-time process is called a continuous-time Markov chain (CTMC). It is named after the Russian mathematician Andrey Markov. Markov chains have many applications as statistical models of real-world processes, such as studying cruise control systems in motor vehicles, queues or lines of customers arriving at an airport, currency exchange rates and animal population dynamics. Markov processes are the basis for general stochastic simulation methods known as Markov chain Monte Carlo, which are used for simulating sampling from complex probability distr ...
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University Of Washington
The University of Washington (UW, simply Washington, or informally U-Dub) is a public research university in Seattle, Washington. Founded in 1861, Washington is one of the oldest universities on the West Coast; it was established in Seattle approximately a decade after the city's founding. The university has a 703 acre main campus located in the city's University District, as well as campuses in Tacoma and Bothell. Overall, UW encompasses over 500 buildings and over 20 million gross square footage of space, including one of the largest library systems in the world with more than 26 university libraries, art centers, museums, laboratories, lecture halls, and stadiums. The university offers degrees through 140 departments, and functions on a quarter system. Washington is the flagship institution of the six public universities in Washington state. It is known for its medical, engineering, and scientific research. Washington is a member of the Association of American Universiti ...
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Stochastic Process
In probability theory and related fields, a stochastic () or random process is a mathematical object usually defined as a family of random variables. Stochastic processes are widely used as mathematical models of systems and phenomena that appear to vary in a random manner. Examples include the growth of a bacterial population, an electrical current fluctuating due to thermal noise, or the movement of a gas molecule. Stochastic processes have applications in many disciplines such as biology, chemistry, ecology, neuroscience, physics, image processing, signal processing, control theory, information theory, computer science, cryptography and telecommunications. Furthermore, seemingly random changes in financial markets have motivated the extensive use of stochastic processes in finance. Applications and the study of phenomena have in turn inspired the proposal of new stochastic processes. Examples of such stochastic processes include the Wiener process or Brownian motion process, ...
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Chung Kai-lai
Kai Lai Chung (traditional Chinese: 鍾開萊; simplified Chinese: 钟开莱; September 19, 1917 – June 2, 2009) was a Chinese-American mathematician known for his significant contributions to modern probability theory. Biography Chung was a native of Hangzhou, the capital city of Zhejiang Province. Chung entered Tsinghua University in 1936, and initially studied physics at its Department of Physics. In 1940, Chung graduated from the Department of Mathematics of the National Southwestern Associated University, where he later worked as a teaching assistant. During this period, he first studied number theory with Lo-Keng Hua and then probability theory with Pao-Lu Hsu. In 1944, Chung was chosen to be one of the recipients of the 6th Boxer Indemnity Scholarship Program for study in the United States. He arrived at Princeton University in December 1945 and obtained his PhD in 1947. Chung's dissertation was titled “On the maximum partial sum of sequences of independent ran ...
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Operations Research
Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. It is considered to be a subfield of mathematical sciences. The term management science is occasionally used as a synonym. Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization, operations research arrives at optimal or near-optimal solutions to decision-making problems. Because of its emphasis on practical applications, operations research has overlap with many other disciplines, notably industrial engineering. Operations research is often concerned with determining the extreme values of some real-world objective: the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost). Originating in military efforts before World War II, its techniques have grown to ...
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