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Research Interests: ÌýInsurance, Risk Measurement & Management, Decision Theory, Ambiguity and Model Uncertainty, Behavioral Economics, Quantitative Behavioral Finance, Mathematical Finance, Risk Theory

Professional Designations:ÌýÌý

• Fellow of the Society of Actuaries (FSA)
• Fellow of the Canadian Institute of Actuaries (FCIA)
• Chartered Enterprise Risk Analyst (CERA)
• Financial Risk Manager (FRM) - Certified by the Global Association of Risk Professionals

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Academic Experience:

• University of À¶Ý®ÊÓƵ - Department of Statistics and Actuarial Science - Sun Life Fellow in International Actuarial Science (As of Sept. 2023)
• University of À¶Ý®ÊÓƵ - Department of Statistics and Actuarial Science - Associate Professor, with tenure (As of July 2022)
• University of À¶Ý®ÊÓƵ - Department of Statistics and Actuarial Science - Assistant Professor (May 2017 - June 2022)
• Concordia University - Department of Mathematics and Statistics - Affiliate Assistant Professor (As of Sept. 2016)
• Imperial College London - Assistant Professor of FinanceÌý (Aug. 2013 - Aug. 2016)
• ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé de Montréal - SSHRC Postdoctoral Fellow - Department of EconomicsÌý (Aug. 2011 - Jul. 2013)

Education:

• University of À¶Ý®ÊÓƵ, Ph.D. - Actuarial ScienceÌý (2008 - 2011)
• University of Michigan, M.S. - MathematicsÌý (2005 - 2006)
• Institut d'Études Politiques de Paris (Sciences Po), Cycle International d'Études PolitiquesÌý (2004 - 2005)
• Notre Dame University, B.S. - Actuarial Science -ÌýSumma Cum LaudeÌý (2000 - 2004)

Ìý

Honors and Awards:

• Sun LifeÌýFellow in International Actuarial ScienceÌý(Sept. 2023 - Aug. 2028) - University of À¶Ý®ÊÓƵ
• Math Golden Jubilee Research Excellence Award (2023) - University of À¶Ý®ÊÓƵ
• Excellence in Revieweing AwardÌý (2023) - Journal of Risk and Insurance
• Excellent Teaching Performance PrizeÌý (2014 - 2015) - Imperial College London
• SSHRC Postdoctoral FellowshipÌý (2011 - 2013) - Social Sciences and Humanities Research Council of Canada (SSHRC)
• Ìý (2010 - 2011) - Society of Actuaries (SOA)
• NSERC Doctoral ScholarshipÌý (2008 - 2011) - Natural Sciences and Engineering Research Council of Canada (NSERC)
• President's Scholarship Ìý(2008-2011) - University of À¶Ý®ÊÓƵ
• WatRISQ Doctoral ScholarshipÌý (2010 - 2011) - University of À¶Ý®ÊÓƵ's Research Institute in Insurance, Securities and Quantitative Finance
• Mathematics Graduate Experience AwardÌý (Fall 2010) - University of À¶Ý®ÊÓƵ
• Graduate ScholarshipÌý (Winter 2010) - University of À¶Ý®ÊÓƵ
• Statistics and Actuarial Science Chair's AwardÌý (Fall 2009) - University of À¶Ý®ÊÓƵ
• IQFI Doctoral ScholarshipÌý (2009) - University of À¶Ý®ÊÓƵ's Institute for Quantitative Finance and Insurance
• Ìý (2005 - 2006) - U.S. Department of State - Bureau of Cultural Affairs
• ÌýÌý(2004 - 2005) - Institut d'Études Politiques de Paris - Academic Excellence Scholarship
• Dean's List of Distinguished Students and Tuition ScholarshipÌý (2000 - 2004) - Notre Dame University

Visiting Positions:

• Conservatoire National des Arts et Métiers, Paris - Actuariat et Science du RisqueÌý(JuneÌý2024)

• University of Melbourne,Ìý Faculty of Business and Economics - Department of Economics (November 2023)

• Australian National University,Ìý College of Business and Economics - Research School of Economics (October & November 2023)

• CREST - ENSAE,Ìý Department of Finance and Insurance (June & July 2022)

• Centre d'Economie de la Sorbonne, Department of Microeconomic Theory (June 2022)

• KU Leuven - Faculty of Economics and Business, Department of Accountancy, Finance & Insurance,Ìý Actuarial Research Group (May & June 2022)

• ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé Catholique de Louvain - Institute of Statistics, Biostatistics and Actuarial Sciences (April and May 2022)

• University of Montreal - CIREQÌý(October & NovemberÌý2019)

• University of Amsterdam -ÌýFaculty of Economics and Business - Section Quantitative Economics (September 2019)

• Chinese University of Hong Kong -ÌýDept. of Systems Engineering and Engineering Management (April 2019)

• Northwestern University - Visiting PostdoctoralÌýFellow -ÌýCenter of Mathematical Studies in Economics and Management - Dept. of Managerial Economics and Decision Sciences - Kellogg School of ManagementÌýÌý(Fall 2012)

• ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé de MontréalÌý- Dept. of EconomicsÌý(Sept. 2010)

• Bocconi UniversityÌý- Dept. of Decision SciencesÌý(Jul. 2010)

Talks and Seminars:

• Efficiency in Pure-Exchange Economies with Monotone Concave Schur-Concave UtilitiesÌý- BIRS Workshop on Optimal Transport and Distributional Robustness (March 2024), Foundations and Applications of Decentralized Risk Sharing (May 2024),ÌýBayes Business School (June 2024), 27th International Congress on Insurance: Mathematics and Economics (JulyÌý2024)

• Equilibria inÌýCentralized InsuranceÌýMarkets: Monopolistic vs. Competitive Pricing -ÌýAustralian National University, Research School of Economics (Oct. 2023),ÌýUniversity ofÌýMelbourne, DepartmentÌýof Economics (Nov. 2023), GERAD - HEC Montréal (Dec. 2023)

• Risk Sharing Rules with Frictions - Foundations and Applications of Decentralized Risk Sharing (May 2023), 26th International Congress on Insurance: Mathematics and Economics (July 2023)

• Equilibria in Reinsurance Markets: Monopolistic vs. Competitive Pricing - Concordia University (Dec. 2022)

• Bowley vs. Pareto Optima in Reinsurance Contracting - 24th International Congress on Insurance: Mathematics and Economics (Jul. 2021), Centre Interdisciplinaire en Modélisation Mathématique de l'±«²Ô¾±±¹±ð°ù²õ¾±³Ùé Laval (Feb. 2022), Workshop on Risk Measures andÌý Uncertainty in Insurance at the House of Insurance of the University of Hannover (May 2022), 11th Conference in Actuarial Science & Finance on Samos (May 2022), KU Leuven (June 2022), Amsterdam School of Economics (June 2022)

• No-Betting Pareto OptimaÌý- Bielefeld Stochastic Afternoon: Math Finance session, University of Bielefeld (Apr. 2021), 2021 Annual Meeting of the American Risk and Insurance Association (Aug. 2021), 48th Annual Seminar of the European Group of Risk and Insurance Economists (Sept. 2021)

• Bilateral Risk Sharing with Heterogeneous Beliefs and Exposure ConstraintsÌý- 4th World Risk and Insurance Economics Congress (WRIEC 2020),Ìý55th Actuarial Research Conference (ARC 2020), Ryerson University (October 2020), University of Connecticut (November 2020)

• OptimalÌýReinsurance with Multiple Reinsurers:ÌýDistortion Risk Measures,ÌýDistortion Premium Principles, and Heterogeneous BeliefsÌý- 6th Annual Workshop on Insurance Mathematics (February 2020), Online International Conference in Actuarial Science, Data Science and Finance (April 2020)

• Optimal Insurance with an Upper Limit on the Retained LossÌý-Ìý23rd InternationalÌýCongress on Insurance: Mathematics and Economics (July 2019)

• Bilateral Risk Sharing with Heterogeneous Beliefs and Exposure Constraints - ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé Laval (March 2019), Hong Kong University (April 2019),Ìý46th Annual Seminar of the European Group of Risk & Insurance Economists (September 2019 -ÌýNominated for the SCOR/EGRIEÌýBest Paper Award), Quantact Research Seminar atÌý±«²Ô¾±±¹±ð°ù²õ¾±³Ùé du Québec à MontréalÌý(October 2019)

• Optimal Insurance with Belief HeterogeneityÌý(July-OctoberÌý2018) - 22ndÌýInternational Congress on Insurance: Mathematics and Economics (IME 2018), 2nd International Workshop on Optimal (Re)Insurance at the Central University of Finance and Economics in Beijing, 53rdÌýActuarial Research Conference (ARC 2018), University of Amsterdam, Western University

• Optimal Insurance without the Nonnegativity Constraint on Indemnities: Ambiguity and Belief HeterogeneityÌý(December 2017)Ìý-Ìý2017 CEAR/MRIC Behavioral Insurance Workshop

• Optimal Insurance: Belief Heterogeneity, Ambiguity, and Arrow's TheoremÌý- University of À¶Ý®ÊÓƵ, Dept. of Statistics & Actuarial Science (January 2017),ÌýWestern University, Dept. of Statistical & Actuarial SciencesÌý(December 2016),ÌýUniversity of Michigan, Financial & Actuarial Mathematics SeminarÌý(April 2016)

• Insurer Ambiguity and the Demand for InsuranceÌý- 2014 CEAR/MRIC Behavioral Insurance WorkshopÌý(December 2014)

• Cost-Efficient Contingent Claims underÌýNonlinear PricingÌý (JuneÌý2014) - University of Manchester, Economic Theory Seminar (April 2014),ÌýRisk, Uncertainty and Decisions Conference (May 2014),ÌýFoundations of Utility and Risk ConferenceÌý(June 2014),Ìý8th World Congress of the Bachelier FinanceÌýSociety (June 2014),Ìý20th Conference of the International Federation of Operational Research SocietiesÌý(July 2014),Ìý2014 European Meeting of the Econometric SocietyÌý(August 2014)

• Arrow's Theorem of the Deductible with Heterogeneous BeliefsÌý- Cass Business School, Faculty of Actuarial Science and Insurance (March 2014)

• Belief Heterogeneity in the Arrow-Borch-Raviv Insurance ModelÌý- University of British Columbia (April 2012),Ìý2013 EGRIE Meeting (September 2013)

• Cost-Efficient Contingent Claims under Knightian Uncertainty: A Distributional AnalysisÌý- 2013 Quantitative Behavioural Finance Conference - University of À¶Ý®ÊÓƵ (April 2013),Ìý2013 Mathematical Finance Days - Institut de Finance Mathématique de Montréal (May 2013),Ìý13th SAET Conference on Current Trends in Economics (July 2013)

• Belief Heterogeneity in the Arrow-Borch-Raviv Insurance Model, and Some ExtensionsÌý- RUD 2012, Northwestern University (June 2012),ÌýHECÌýMontréal -ÌýFinance (September 2012),ÌýImperial College Business School -ÌýFinance Group (December 2012),ÌýRisk Theory Society Annual Seminar (April 2013)

• On a Class of Monotone Comparative Statics Problems under Heterogeneous Uncertainty, with an Application to InsuranceÌý- University of Michigan (February 2012),ÌýConcordia University (March 2012),Ìý±«²Ô¾±±¹±ð°ù²õ¾±³Ùé de Montréal (November 2011)

• Contracting for Innovation under Knightian UncertaintyÌý (Oct. 2011) - ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé de Montréal

• Contracting under Heterogeneous BeliefsÌý (Apr. 2011) - University of À¶Ý®ÊÓƵ

• Cooperative Game Theory: A Mathematical IntroductionÌý (Mar. 2010) - Graduate Student Seminar - University of À¶Ý®ÊÓƵ

• Free Will, Uncertainty and the Foundations of Utility: An Introduction to Decision TheoryÌý (Oct. 2009) - Graduate Student Seminar - University of À¶Ý®ÊÓƵ

• Static Portfolio Choice under Cumulative Prospect TheoryÌý (Apr. 2009) - University of À¶Ý®ÊÓƵ (April 2009),ÌýIAREP/SABE 2009 conference (July 2009)

• The Omega Measure and its GeneralizationÌý (Nov. 2008) - University of À¶Ý®ÊÓƵ

• Dual Duration and Liability-Matching PortfoliosÌý (Mar. 2007) - Investment Consulting Group, Hewitt Associates, Toronto

Teaching:

• University of À¶Ý®ÊÓƵ (Spring 2021), Topics in Risk Sharing and (Re)Insurance (Graduate)

• University of À¶Ý®ÊÓƵ (FallÌý2024),ÌýEfficiency and Equilibria in (Re)Insurance MarketsÌý(Graduate)

• University of À¶Ý®ÊÓƵ (Winter 2021, Winter 2023, Winter 2024), Finance II (Graduate)

• University of À¶Ý®ÊÓƵ (Spring 2019, Spring 2020, Spring 2021), Financial Mathematics IIIÌý (Graduate)

• University of À¶Ý®ÊÓƵ (Winter 2019), Topics in Robust Optimal (Re)Insurance DesignÌý (Graduate)

• University of À¶Ý®ÊÓƵ Ìý(Winter 2018,ÌýFall 2018, Winter 2020, Spring 2020, Winter 2023), Mathematics of Financial Markets Ìý(Undergraduate)

• University of À¶Ý®ÊÓƵ Ìý(Fall 2017), Economics Ìý(Master's of Actuarial Science program)

• Imperial College LondonÌý (Autumn 2013 & Autumn 2014), Stochastic Calculus for FinanceÌý (Master's)

• Imperial College LondonÌý (Autumn 2013 & Autumn 2014), Stochastic CalculusÌý (Master's)

• Imperial College London, (September 2014), Application of MATLAB for FinanceÌý (Master's)Ìý

• Imperial College LondonÌý (Summer 2014), DerivativesÌý (Master's)

• Imperial College LondonÌý (Autumn 2013), Quantitative MethodsÌý (Master's)

• ±«²Ô¾±±¹±ð°ù²õ¾±³Ùé de MontréalÌý (Spring 2012), Theory of Interest / Mathématiques FinancièresÌý (Undergraduate)

• University of À¶Ý®ÊÓƵÌý (Fall 2009 and Fall 2010), Teaching Assistant (TA) - Theory of ProbabilityÌý (PhD)

• University of À¶Ý®ÊÓƵÌý (Spring 2009), TA - Loss Models IIÌý (PhD)

• University of À¶Ý®ÊÓƵÌý (Winter 2008), TA - Corporate FinanceÌý (Master’s)

• University of À¶Ý®ÊÓƵÌý (Winter 2008), TA - Mathematical Models in FinanceÌý (PhD)

• University of MichiganÌý (Fall 2006) - Support class on Financial Mathematics for Exam FM of the Society of Actuaries

• University of MichiganÌý (Winter 2006) - Support class on Probability and Statistics for Exam P of the Society of Actuaries

Student Supervision:

• Shuangjian Zhang - Past Postdoctoral Fellow, University of À¶Ý®ÊÓƵ

• Corina Birghila - Past Postdoctoral Fellow, University of À¶Ý®ÊÓƵ

• Michael Zhu - Current PhD student, University of À¶Ý®ÊÓƵ

• Benxuan Shi - Current PhD student, University of À¶Ý®ÊÓƵ

• Hongda Hu - Current PhD student, University of À¶Ý®ÊÓƵ

• Qinghua Ren - Current PhD student, University of À¶Ý®ÊÓƵ

• Vincent Racine - Current Master's student - Thesis option, University of À¶Ý®ÊÓƵ

• Tim Hao - Current Master's student - Thesis option, University of À¶Ý®ÊÓƵ

• Ziwei Pan - Current Master's student - Thesis option, University of À¶Ý®ÊÓƵ

• Zhenyu Chen - Current Master's student - Thesis option, University of À¶Ý®ÊÓƵ

• Oma Coke - Budget-Constrained Optimal Insurance with an Upper Limit on the Insurer's Exposure -ÌýMaster's Thesis, University of À¶Ý®ÊÓƵ

• Shon Czinner - Portfolio Choice under RDEU, Yaari, and EUT - Master's Thesis, University of À¶Ý®ÊÓƵ

• Yu Chen - Measuring Model Risk in Risk Analytics Ìý-ÌýMaster's Thesis, University of À¶Ý®ÊÓƵ

• Shenglong LiÌý- Pareto-Optima under Rank-Dependent Utility -ÌýMaster's Thesis, University of À¶Ý®ÊÓƵ

• Jiaye SuÌý- Portfolio Choice under Cumulative Prospective Theory -ÌýMaster's Thesis, University of À¶Ý®ÊÓƵ

• Michael ZhuÌý- Cost-Efficient Contingent Claims with Choquet pricingÌý-ÌýMaster's Thesis, University of À¶Ý®ÊÓƵ

• Harris ChenÌý- Undergraduate research student, University of À¶Ý®ÊÓƵ

• Qisi DengÌý- Undergraduate research student, University of À¶Ý®ÊÓƵ

• Michael Zhu, Loss Aversion for Decision under Risk - Undergraduate research project, University of À¶Ý®ÊÓƵ

• Hao Han,ÌýPricing American Options by Least Squares RegressionÌý- Master's Thesis, Imperial College London

• Grigory Budanov,ÌýComplex Adaptive SystemsÌý- Master's Thesis, Imperial College London

• Weiqiong Shi,ÌýCounterparty Risk and Collateralization of Longevity SwapsÌý- Master's Thesis, Imperial College London

• Martina Skerlik,ÌýSolvency IIÌý- Master's Thesis, Imperial College London

• Michael Tang,ÌýInflation Hedging Through Asset and Sector RotationÌý- Master's Thesis, Imperial College London

• Rebecca Stables,ÌýPensions as an Asset ClassÌý- Master's Thesis, Imperial College London

Industry Experience:

• The Great-West Life Assurance Company - Toronto, Canada (Oct. 2015 - Apr. 2017) - Director, ERM - Risk Modeling

• Hewitt Associates - Toronto, CanadaÌý (Feb. 2007 - Dec. 2007) - Actuarial Analyst

• Watson Wyatt Worldwide - New York City, USAÌý (Summer 2006) - Actuarial Analyst

• Hewitt Associates - Paris, FranceÌý (Feb. 2005 - June 2005) - Actuarial Analyst

Refereeing Activity:ÌýÌýEconometrica,ÌýEconomic Theory, Journal ofÌýEconomic Theory,ÌýJournal ofÌýEconomic Dynamics and Control,ÌýManagement Science,ÌýMathematics of Operations Research,ÌýOperations Research,ÌýOperations Research Letters,ÌýOperational Research, Information Systems and Operational Research (INFOR), Journal of Applied Probability, MathematicalÌýFinance, Finance and Stochastics, Mathematics and Financial Economics, Quantitative Finance,ÌýSIAM Journal on Financial Mathematics,ÌýApplied Mathematics and Optimization, Journal of Mathematical Economics,ÌýB.E Journal of Theoretical Economics, Journal of Risk andÌýInsurance,ÌýInsurance: Mathematics and Economics,ÌýASTIN Bulletin, Scandinavian Actuarial Journal,ÌýNorth AmericanÌýActuarial Journal, European Actuarial Journal,ÌýGeneva Risk and Insurance Review, Decisions in Economics and Finance,ÌýEconomics Bulletin, European Journal of Finance, International Review of Economics and Finance, Review of Behavioral Finance,ÌýMathematical Social Sciences, Handbook of Insurance, Journal of Applied Probability, Journal of Computational and Applied Mathematics,ÌýNatural Sciences and Engineering Research Council of Canada (NSERC), Swiss National Science Foundation

Erdös number: 5

• PaulÌýErdös ->ÌýPeter C. Fishbrun Ìý->ÌýEric S. Maskin Ìý->ÌýJohn G. Riley ->ÌýEdmund S. Phelps ->ÌýMario Ghossoub
• Paul Erdös ->ÌýZoltan Furedi ->ÌýFelix Lazebnik ->ÌýWembo V. Li -> Carole Bernard ->ÌýMario Ghossoub

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