Applications of Agent-based Models (ABM) to analyse finance growth in a sustainable manner over a long-term period
Kaunas University of Technology is looking for a highly motivated and creative PhD candidate interested in sustainable finance and agent-based models. Sustainable finance and agent-based models are important for industry as they can help to align business decisions with ESG criteria and to understand and predict the complex and dynamic outcomes of their actions. This PhD project aims to use agent-based models to simulate different market scenarios in which industry agents take sustainable actions. During the project, you will closely collaborate with industry and a doctoral training network spread throughout Europe, including extended research stays abroad.
The successful applicant will join the department of Mathematical Modelling at the faculty of Mathematics and Natural Sciences.
Background
This PhD position is the only one at the Kaunas University of Technology in the context of the international Marie Skłodowska-Curie Actions project DIGITAL. For the general description of DIGITAL and the PhD positions, please check https://www.euraxess.gov.ro/jobs/214154.
DIGITAL’ main goal? To significantly advance the methodologies and business models for Digital Finance through the use of five interconnected research objectives https://www.digital-finance-msca.com/applications-of-agent-based-models:
- Ensure sufficient data quality to contribute to the EU’s efforts of building a single digital market for data
- Address deployment issues of complex artificial intelligence models for real-world financial problems
- Validate the utility of state-of-the-art explainable artificial intelligence (XAI) algorithms to financial applications and extend existing frameworks
- Design risk management tools concerning the applications of Blockchain technology in Finance
- Simulate financial markets and evaluate products with a sustainability component
The description here focuses on the specific position “Applications of Agent-based Models (ABM) to analyse finance growth in a sustainable manner over a long-term period” (mainly included in objective #WP5), outlining the project’s key takeaways and desired skillset of prospective candidates.
The challenge
Agent-based systems are computer models that simulate the behaviours and interactions of autonomous agents, either as individuals or in groups, to gain a deeper understanding of how a system behaves and what factors influence its outcomes. In agent-based modelling, a system is represented as a collection of autonomous decision-making units, or agents (ABM). Each agent evaluates its own situation and makes decisions according to a set of rules. Agents are capable of a variety of appropriate behaviours for the system they represent. ABM has been utilised in numerous financial investigations. The literature contains few ABM studies that model economies and markets while assuming the industry’s adoption of sustainable finance.
This study aims to use agent-based models to simulate different market scenarios in which industry agents take sustainable actions. Long-term financial growth will be analysed, and the findings will aid in the development and modification of industry policies and strategies. A public repository containing a library of the developed agent-based models is another anticipated outcome. The WP will place a strong emphasis on disseminating and the anticipated outcomes. Several channels, including peer-reviewed articles in high-impact journals, research talks at national and international conferences, and use case presentations at industry workshops, will be utilised to accomplish this objective.
Your profile
We look for a highly motivated, enthusiastic researcher who is driven by curiosity and has/is:
General skills:
- Master’s degree in Business, Economics, Engineering, Information Technology, Computational Science, Applied Mathematics or related fields;
- A strong passion and outstanding skills in data science and experience working with programming languages and statistical software such as Python, R, Stata or SAS;
- Knowledge on quantitative modelling of financial markets, econometric techniques, machine learning or quantitative empirical research methods;
- The ability to work on real-world problems in an interdisciplinary and internationally oriented environment;
- Good communication skills and an excellent command of English.
Project-specific skills:
- Good programming skills. Experience with machine learning libraries (e.g., TensorFlow, PyTorch, Jax) is helpful.
- Good understanding of the terms sustainability and agent-based models
- Good understanding of financial risk measures and decision-making
- Good knowledge of forecasting and modeling techniques
Interested and motivated candidates are encouraged to apply, even when not yet possessing all the desired skills. Through self-driven learning and doctoral training, you will be able to develop relevant skills on the job.
Our offer
We offer PhD position at the Kaunas University of Technology in the field of Informatics.
- The PhD studies at KTU last 4 years, most of the PhD exams must be passed within the first two years, all PhD students get state stipends and state insurance, PhD students get discounts for transportation in Kaunas city and in Lithuania as well, University offer dormitory in the campus.
- Become a member of the research group “Mathematical Modelling of Stochastic, Economical and Medical Systems” and conduct research in the FinTech area with other members of the group and international partners from various international projects (see https://fintech.ktu.edu).
- This PhD position includes two research stays at industrial partners. First, you will spend 18 months in Deloitte Italia (https://www2.deloitte.com/it/it.html). The stay will start at month 12 of your project. Second, you will spend 4 months at ATHENA Research Center, Greece https://www.athenarc.gr/en/. The stay will start at month 33 of your project.
How to apply
Are you interested to be part of our team? Please submit your application, and include:
- A cover letter (maximum 2 pages A4), emphasizing your specific interest, qualifications, and motivations to apply for this position;
- A Curriculum Vitae, including a list of all courses attended and grades obtained, and, if applicable, a list of publications and references;
- An IELTS-test, Internet TOEFL test (TOEFL-iBT), or a Cambridge CAE-C (CPE). Applicants with a non-Dutch qualification and who have not had secondary and tertiary education in English can only be admitted with an IELTS-test showing a total band score of at least 6.5, internet. TOEFL test (TOEFL-iBT) showing a score of at least 90, or a Cambridge CAE-C (CPE).
For more details on admitting KTU please find at: https://admissions.ktu.edu/programme/d-mathematics/. Please ensure that your application is submitted by the deadline and note that we will start conducting interviews with short listed candidates starting from April 2024; however, the application deadline is May 31, 2024. Do not make submissions via e-mail as they will not be considered.
Additional information can be acquired via email from Audrius Kabašinskas (audrius.kabasinskas@ktu.lt) with a cc to dr. Jorg R. Osterrieder (jorg.osterrieder@utwente.nl).
About the department
The Department of Mathematical Modelling at Kaunas University of Technology was founded in 1962 and is part of the Faculty of Mathematics and Natural Sciences. The Department offers courses and research in various fields of applied mathematics, such as applications of artificial intelligence, mathematical analysis, probability and statistics, optimization, game theory, financial mathematics, and mathematical modelling of systems. The Department has a staff of 18 professors and researchers and cooperates with national and international partners. For more information, please visit https://fmns.ktu.edu/department-of-mathematical-modelling/
About the organization
Kaunas University of Technology is a public research university located in Kaunas, Lithuania. It was established in 1922 and is one of the leading technological universities in the Baltic states. KTU offers various programs in science, engineering, business, social sciences, arts, and humanities. KTU is also involved in various research projects and collaborations in fields such as artificial intelligence, environmental engineering, biomedical engineering, materials science, and mathematical modelling. KTU has a staff of about 1,000 and a student body of about 10,000