Cournot Centre

Spring 2017

What’s Happening on World Energy Markets?

Speakers (to be confirmed) : Raimund Bleischwitz (UCL Institute for Sustainable Resources), Josselin Garnier (University Paris Diderot), Aurélien Saussay (OFCE), Knut Sølna (University of California, Irvine), Robert Solow (MIT, Centre Cournot)

After 18 months of decline, the price of hydrocarbons seems to have stabilized at the end of 2015. How can we interpret this recent development and the preceding periods?
The conference will present empirical groundwork on the new price regime that is taking shape. What do the data tell us? How have spot prices, relative prices evolved?
The conference will focus on macroeconomic and geopolitical theoretical developments: Which elements determine market prices? What are the expectations in global growth? How have representations changed, in particular on financial markets?

Online Registration soon

26-27 november 2015
Conference celebrating the centennial of the birth of Kiyosi Itô

Kiyosi Itô’s Legacy from a Franco-Japanese Perspective

Ambassade de France au Japon - Tokyo

Ambassade de France au Japon, salle de réunion de l’atrium, 1F 4-11-44 Minami Azabu, Minato-ku, Tōkyō, 106-8514
- 7 minutes from the metro station Hiroo (Exit 1) - Access map :

Organized by L'Institut des Hautes Études Scientifiques and Fondation et Centre Cournot

Contributors: Jean-Pierre Bourguignon (Institut des Hautes Études Scientifiques), Nicole El Karoui (École polytechnique), Masatoshi Fukushima (Osaka University), Tadahisa Funaki (University of Tokyo), Josselin Garnier (Université Paris Diderot), Daniel Goroff (Alfred P. Sloan Foundation), Shigeo Kusuoka (University of Tokyo), Glenn Shafer (Rutgers Business School), Jean-Philippe Touffut (Cournot Centre)

Due to security checks at the Embassy, please bring a photo I.D. and plan to arrive 20 minutes before the conference begins.

REGISTRATION CLOSED Presentations in English.

The work of Kiyosi Itô and the Japanese school of stochastic processes that he founded is exceptional both in its beauty as pure mathematics and in the insights it has provided in biology, chemistry, quantum physics, electrical engineering, and finance. As the International Mathematical Union attested in awarding Itô its first Carl Friedrich Gauss prize in 2006, his work ranks as part of the world’s cultural heritage.

From its outset, however, Itô’s work has stood in a special relationship to French mathematicians. The first citation in Itô’s published work, in fact, the first sentence of his first article, was to Paul Lévy’s, Théorie de l’addition des variables aléatoires. As Itô later wrote, he learned stochastic processes from this book. His goal was to make fully mathematical the beautiful structure the book depicted, and he succeeded. It is often said that other French mathematicians understood Lévy only after Itô had explained his contribution. Thirty years later, in the 1970s, Itô was still interacting with French mathematicians, embracing and further developing Paul-André Meyer’s semimartingale-based version of Itô’s theory of stochastic integration. Today, French mathematicians remain among those most keen to develop the applications of Itô’s calculus in physics and finance.

This conference examines Itô’s legacy from the perspective of this relationship. Is the theory of stochastic processes now truly a theory of sample paths as Lévy had envisioned? What has made Lévy processes and Itô’s understanding of stochastic integration so fruitful for applications in physics and finance? Where is Itô’s legacy taking us today?

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Thursday, 26 November 2015

10:30 am – Opening Session
Glenn SHAFER (Rutgers Business School)
Whither Kiyosi Itô’s reconciliation of Lévy (betting) and Doob (measure)?
Shafer Presentation - Nov 2015.pdf

12:00 pm – Lunch

1:30 pm – Session 1: Itô’s Heritage
Masatoshi FUKUSHIMA (Osaka University)
The Life and Mathematical Legacy of Itô Sensei
Fukushima Presentation - Nov 2015.pdf

Daniel GOROFF (Sloan Foundation)
Abstraction vs. Application: Itô’s Calculus, Wiener’s Chaos, and Poincaré’s Tangle
Goroff Presentation - Nov 2015.pdf

3:00 pm – Coffee break

3:30 pm – Session 2: Itô and Stochastic Analysis
Tadahisa FUNAKI (University of Tokyo)
Some Topics in Stochastic Partial Differential Equations
Funaki Presentation - Nov 2015.pdf

Josselin GARNIER (Université Paris Diderot - Centre Cournot)
Itô's Calculus in Physics and Stochastic Partial Differential Equations
Garnier Presentation - Nov 2015.pdf

Friday, 27 November 2015

10:30 am – Session 3: Itô’s Calculus and Financial Applications
Nicole EL KAROUI (École polytechnique)
What Makes Kiyosi Itô Famous on Trading Floors?
El Karoui Presentation - Nov 2015.pdf

Shigeo KUSUOKA (University of Tokyo)
Itô Calculus, Malliavin Calculus and Finance
Kusuoka Presentation - Nov 2015.pdf

12:00 pm – Closing Remarks

• With the support of:
Ambassade de France au Japon
Japan Science and Technology Agency (CREST)
The Mathematical Society of Japan (MSJ)

29 September 2014

Financing Science, or Innovation? Lessons from Europe, Japan and the U.S.

Ministère de la Recherche - Amphithéâtre Stourdzé - 1, rue Descartes, Paris 5e

Speakers: Jean-Louis Beffa (Centre Cournot), Jean-Pierre Bourguignon (European Research Council), Daniel Goroff (Sloan Foundation), Yuko Harayama (Japanese Council for Science, Technology and Innovation), Thibaut Kleiner (European Commission), Julia Lane (American Institutes for Research), Beth-Anne Schuelke-Leech (Ohio State University), Robert Solow (MIT)

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9:15 am: Welcome and Introduction to the Conference
9:30 am: The Financing and Allocation of Innovation: Directions, Indicators and Incentives

Thibaut Kleiner, European Commission

Julia Lane, AIR
Julia Lane Presentation 29-09-2014

11 am: Coffee break
11:30 am: Venture Capital, Philanthropy and Public Financing

Daniel Goroff, Sloan Foundation
Goroff Presentation 29-09-2014 (1.8 MiB)

Beth-Anne Schuelke-Leech, Ohio State University
Schuelke-Leech Presentation 29-09-2014 (1.7 MiB)

1 pm: Buffet lunch
2:30 pm: Implications and Policy Conclusions for Governments and for Private Actors

Jean-Pierre Bourguignon, European Research Council
Bourguignon Presentation 29-09-2014 (612.4 KiB)

Yuko Harayama, Japanese Council for Science, Technology and Innovation
Harayama Presentation 29-09-2014 (760.2 KiB))

2 December 2013

Are There Limits to the Probabilization of Science?

The Pappalardo Room, 4-349, Department of Physics, MIT, Cambridge, MA

Organized with Harvard Medical School

Speakers: Noureddine El Karoui (UC, Berkeley), Josselin Garnier (University Paris VII), Alice Guionnet (MIT), Andreas Hilfinger (Harvard), Jonathan Le Roux (MERL), Johan Paulsson (Harvard)

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This conference brings together renowned probabilists from diverse scientific fields – probability theory, biology, geophysics, linguistics. By comparing definitions and methods, they assess the advance of probability in their respective disciplines and throughout the sciences as a whole. How do these disciplines intersect or diverge? Is there a common research agenda? What are the next steps in the development of probability?

Part I 10 am – 12 pm: The Advance of Probability: How Far Has It Come?

Noureddine el Karoui (UC, Berkeley), The Relationship between Probability and Statistics

Alice Guionnet (M.I.T.), Progress in Random Matrices
Johan Paulsson (HMS), Defining a Stochastic Research Agenda in Systems Biology
Part II 1:30 – 3:30 pm: The Probability Approach

Jonathan Le Roux (MERL): The Probabilization of Machine Perception in Speech and Audio

Andreas Hilfinger (HMS): Understanding Biological Systems by Analyzing Stochastic Fluctuations

Josselin Garnier (Université Paris-VII): Is a Common Agenda for Applied Probabilists Possible?

17 December 2012

The Limits of the Probabilization of Science

Warren Alpert Building (room 536), 200 Longwood Avenue, Harvard Medical School, Boston (Longwood station)
Chaired by Robert Solow (MIT)

Speakers: Rémi Catellier (University of Paris IX), Meriem El Karoui (Harvard), Josselin Garnier (ENS), Andreas Hilfinger (Harvard), Johan Paulsson (Harvard).
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2 & 3 December 2010

What’s Right With Macroeconomics?

Les Miroirs - La Défense

Jean-Louis Beffa (Saint-Gobain), Robert Boyer (CEPREMAP) , Jean-Bernard Chatelain (Université Paris I), Wendy Carlin (University College London), Giancarlo Corsetti (University of Cambridge), Giovanni Dosi (Sant’Anna School of Advanced Studies, Pisa) , Robert Gordon (Northwestern University), Paul de Grauwe (Université de Louvain), Gerhard Illing (Ludwig-Maximilians-Universität, Munich) , Xavier Ragot (CNRS), Willi Semmler (New School for Social Research, New York) , Robert Solow (MIT), Xavier Timbeau (OFCE), Volker Wieland (Goethe Universität, Frankfurt)

Conference volume: What’s Right with Macroeconomics?

2010 Conference Programme (75.8 KiB)

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Thursday, 2 December

1. A Panorama of Concepts and Approaches

Jean-Bernard Chatelain (Université Paris I)
Presentation Jean-Bernard Chatelain (131.6 KiB)

Xavier Timbeau (OFCE)
Presentation Xavier Timbeau (327.4 KiB)

Giancarlo Corsetti (University of Cambridge)
Presentation Giancarlo Corsetti (290.0 KiB)

Commentator : Gerhard Illing (Ludwig-Maximilians-Universität, Munich)
Presentation Gerhard Illing (530.4 KiB)

Questions and Answers

2. Alternative Programmes: Renewing Macroeconomics

Giovanni Dosi (Sant’Anna School of Advanced Studies, Pisa)
Presentation Giovanni Dosi (578.5 KiB)

Xavier Ragot (CNRS)
Presentation Xavier Ragot (214.2 KiB)

Commentator : Willi Semmler (New School for Social Research, New York)
Presentation Willi Semmler (659.5 KiB)

Vendredi, 3 décembre

3. Rethinking the Role of Fiscal Policy

Volker Wieland (Goethe Universität, Frankfurt)
Presentation Volker Wieland (652.3 KiB)

Paul de Grauwe (Université de Louvain)
Presentation Paul de Grauwe (1.1 MiB)

Commentator : Robert Boyer (CEPREMAP)
Presentation Robert Boyer (390.3 KiB)

Questions and Anwers

4. Round Table: Where Do We Stand? chaired by Robert Solow (MIT)

Wendy Carlin (University College London)
Presentation Wendy Carlin (1000.6 KiB)

Robert Gordon (Northwestern University)
Presentation Robert Gordon (183.9 KiB)

Conclusion by Robert Solow (MIT) & Jean-Louis Beffa (Saint-Gobain)

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