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    Department of Systems Engineering and Engineering Management

                       The Chinese University of Hong Kong

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Date: Friday, March 1, 4:30 pm – 5:30 pm

Venue: ERB 513, The Chinese University of Hong Kong

Title: Equilibrium transport with time-inconsistent costs: An application to matching problems in the job market

Speaker: Prof. Bingyan Han, The Hong Kong University of Science and Technology (Guangzhou)

Abstract:

Given two probability measures on sequential data, we investigate the transport problem with time-inconsistent preferences under a discrete-time setting. Motivating examples are nonlinear objectives, state-dependent costs, and regularized optimal transport with general f-divergence. Under the bicausal constraint, we introduce the concept of equilibrium transport. The existence is proved in the semi-discrete Markovian case and the continuous non-Markovian case with strict quasiconvexity, while the uniqueness also holds in the second case. We apply our framework to study inertia of two job markets, top-ranking executives and academia. The empirical analysis shows that a job market with stronger inertia is less efficient. The University of California (UC) postdoc job market has the strongest inertia even than that of executives, while there is no evidence of inertia in the UC faculty job market. This is a joint work with Prof. Erhan Bayraktar.

Biography:

Bingyan Han is an Assistant Professor in the Thrust of Financial Technology, The Hong Kong University of Science and Technology (Guangzhou). Previously, he was a Postdoctoral Assistant Professor (non-tenure track) in the Department of Mathematics at the University of Michigan. He obtained a Ph.D. in Statistics from The Chinese University of Hong Kong and a B.S. in Applied Mathematics from the University of Science and Technology of China. He is interested in optimal transport, stochastic control, and their applications in mathematical finance.

Everyone is welcome to attend the talk!

SEEM-5202 Website: http://seminar.se.cuhk.edu.hk

Email: seem5202@se.cuhk.edu.hk