Junoon presents 'Modeling Uncertainty- A Tale of Tails' at its Mumbai Local session this week...
January 13, 2016 4:39:12 PM IST MTG editorial
Crystal balls, fortune-tellers, tarot cards and talking parrots; haven't we all wished we could peek into the future and control our lives and circumstances? But, the world never seems to be quite in our hands. What if the one thing that could help us make sense of it all was mathematics?
Meet Sandeep Juneja - applied probabilist and finance mathematician from TIFR - at Mumbai Local this week. And his key area of interest is modeling uncertainty and outlier events.
What is that, you ask? It's a branch of mathematics that deals with what we consider 'rare events' - events that we think occur as anomalies, but may have a catastrophic impact on our lives. These fascinating techniques are applied across various fields like finance, insurance, geology, hydrology and even communications technology to control future situations a little better.
So why are these events so important? Are they really as rare as we think they are? Do they affect our decision-making? How?
Sandeep's talk will bring up and examine all these questions as he uses real world examples to demonstrate modeling uncertainty to us. He will also share with us why this area of mathematics is his passion and what makes him follow it relentlessly.
This talk is going to incredibly interesting as the world of mathematics will unfold in quite a new avatar.
Bio:
Prof. Sandeep Juneja is an applied probabilist who spends a great deal of time working on random walks. He not only walks the random walk but also, as the audience will see, talks the random talk. His other research interest includes queuing and he has lately focused on modeling queue arrivals as a strategic game between users. He also works on modelling financial and insurance tail risk.
Sandeep did his B. Tech. from IIT Delhi in Mechanical Engineering in 1989. He did his Masters in Statistics and PhD in Operations Research both from Stanford University in 1993. He worked with a finance insurance firm American Credit Indemnity in Baltimore from 1993 to 95 and then with Andersen Consulting in India as a management consultant till 1996. In 1997 he returned to academia and joined IIT Delhi as a faculty. He has been at the Tata Institute of Fundamental Research since 2003.
Sandeep has held visiting positions at Stanford University, Columbia University and Indian School of Business. On leave from TIFR, he headed quantitative operations for Bank of America in India in 2008. Last few months he has been visiting a research wing, CAFRAL, of Reserve Bank of India.
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