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Curriculum Vitae of Dr. Ai WU
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Curriculum Vitae of Dr. Ai WU
Theoretical Contributions
Constructed a new model of economic rationality and modeled optimal choice process, which may be the new foundations of Microeconomics.
Constructed a new system of value theory, which can be adopted to model buyers and sellers in everyday transactions in market economy.
Constructed a new equilibrium: transaction equilibrium, and the solution of value equilibrium of a transaction is computed.
Constructed a new chart, in which the sequential bargaining process between two rational agents -a seller and a buyer is modeled in a time series by analytical geometry.
Constructed new models for auction and bidding, and three dynamic mechanisms of price formation may be the core of evolutionary economics.
Constructed a new explanatory reason for “the Invisible Hand” and market economy why we all live with this mechanism, for no other reason than that the market mechanism or transaction mechanism is reasonable in natural rationality’s demands.
Personal
Name: Ai WU
Organization: School of Management, Dalian University of Technology
Title: Post-doctoral research fellow
Born: Oct-1969
Birthplace: The Inner Mongolia Autonomous Region, China
Gender: Male
Nationality: P.R.China
E-mail: aiwu5@sina.com
Address:
School of Management, Dalian University of Technology
Dalian, 116023
China
Fields:
rationality model, value theory, transaction model,
market mechanism, cooperative game theory, mathematical economics, evolutionary economics, foundations of behavior economics,
“the Invisible Hand”of Adam Smith and social system dynamics
Education
Now: Post-doctoral study, School of Management, Dalian University of Technology.
2008: Ph.D., Economics, Department of Economics, Dalian University of Technology.
1995: S.M., Composite Materials, Dalian University of Technology.
1992: B.S., Materials Science and Engineering, Dalian University of Technology.
Selected Publications
Ai WU, Rationality model and choice optimization: One answer to Aumann’s “open problem” and one introduction to a new mathematical tool, The International Conference on Computational Intelligence and Software Engineering (CISE)，has been accepted.（indexed by Ei Compendex and ISTP）, December 11~13, 2009.
Ai WU, Social cooperation game model between rational agents: The basic exploration on the mechanism of market economy (in Chinese), reported in The Institute of Sociology of the Chinese Academy of Social Sciences (CASS), pp.10-16, August 24, 2009.
Ai WU, Neutrality value system for market economy. Globalization and Economics in China 2009 (in Chinese), Economic Management Press, pp. 190-130. April 2009.
Ai WU, The Mechanism of Transaction：Value Equilibrium Model of A Bargaining Game Between Two Rational Agents, Management Track within WiCOM: Engineering, Services and Knowledge Management, Dalian, China, October 14-16, 2008.
http://ieeexplore.ieee.org/xpl/freeabs_all.jsp?arnumber=4680808
Ai Wu, “Value equilibrium theory for a transaction”, Research on Financial and Economic Issues(in Chinese), No.2,pp.18-21,2008.
http://www.cnki.com.cn/Article/CJFDTOTAL-CJWT200802002.htm
Ai Wu, “Mathematical model of natural rationality——one answer to Aumann’s ‘open problem’”, Research on Financial and Economic Issues(in Chinese), No.7, pp.9-11,2007.
http://www.cnki.com.cn/Article/CJFDTOTAL-CJWT200707001.htm
Ai WU, The Methodological Specificity of Evolutionary Economics: From Ontogenesis to Systematic Self-organization (in Chinese), Journal of Dalian University of Technology(Social Sciences),No.1,pp.46-50,2003.
http://www.cnki.com.cn/Article/CJFDTOTAL-DLGD200301010.htm
Ai WU, Culture Accumulation, Institute Evolution and Industrial Development——Positive Analysis of Systematic Evolutionary Path of Software Industry in India(in Chinese), Journal of Dalian Maritime University (Social Sciences), No.4, pp.40-43,2002.
Ai WU, The Relationship between Business Cycles and Finance Policy in China: from 1979 to 1999(in Chinese), The Second China Economics Annual Conference, Northwest University, Xi’An, China,Oct.15-16,2002.
http://down.cenet.org.cn/view.asp?id=47417
Ai WU, The Complexity of Economic System, Reductionism and Evolutionary Economics (in Chinese), Proceedings of International Symposium on Complexity Science & The Second China Symposium on Complex Science, pp.189-193, Shanghai Jiao Tong University, Shanghai, China, Aug.6-7, 2002.
Doctoral Dissertation Abstract
The topic of Ai WU’s doctoral dissertation is: Research on the Principle of Transactions for Understanding Dynamical Complexity of Industrial System. Below is its abstract.
Research on the Principle of Transactions for
Understanding Dynamical Complexity of Industrial System
The dynamical complexity of industrial system can be simplified to the dynamical complexity of a transaction. Transactions are the most common phenomenon in market economy. A transaction is not only simple exchange buyer’s money with seller’s commodity, but also cooperation between the buyer and the seller. But in theoretical research, modeling a transaction is a complex problem unsolved.
Economic rationality is the key to solve the dynamical complexity of a transaction or an exchange. The rationality postulate is generally considered as the core of modern economics, to develop a meaningful formal definition of rationality is perhaps the most challenging conceptual problem in the area today.
In this paper, our research can draw the conclusions as six points:
(1) Natural rationality (A) is defined as nonlinear function of agent’s benefit (B) and cost(C), and . Compared to unbounded rationality and bounded rationality, natural rationality can express the dynamic process of rational choice and bargaining transaction. The mathematical model of natural rationality can be considered as one answer to Aumann’s “open problem”.
(2) On the basis of the mathematical model of natural rationality, we construct rational model of neutrality value, neutrality value (V) is defined as nonlinear function of agent’s benefit (B) and cost(C), and , natural rationality is equal to value rationality. Three basic definitions are constructed: commodity value, seller value and buyer value, and in this system value definitions are formulized to nonlinear formula with four variables: C (the cost of commodity), F (the function of commodity), P (the price of commodity),π(the profit of commodity).
(3) On the basis of the mathematical model of natural rationality and neutrality value system, we construct new concepts: seller value, buyer value, and value equilibrium of a seller and a buyer. A transaction in market economy can be nonlinearly modeled as that buyer exchanges his money with commodity of seller. The solution of value equilibrium of a transaction is computed.
(4) On this basis, the sequential bargaining process between two rational agents -a seller and a buyer is modeled in a time series by analytical geometry. This dynamic model of bargaining transaction is truly an alternating offers bargaining model, is really sequential equilibrium model in evolutionary bargaining game, and the solution is rationality equilibrium and value equilibrium.
(5) Three dynamic mechanisms of price formation are researched on the base of value equilibrium model of a transaction, the three mechanisms are: 1-1 mode, M-1 mode and N-1 mode. A bargaining transaction is 1-1mode, an auction is 1-N mode, a bidding is M-1 mode.
(6) At last an explanation on “the Invisible Hand” of Adam Smith is constructed. In a transaction, the seller and the buyer are rational, the commodity has value, and its value is neutral. The equality between seller value and buyer value in a transaction is exchange money with commodity, value equilibrium makes the utility-maximizing of each seller and buyer is supposed to be pursuing independently his or her own private interest. Selfish and altruism of a buyer and a seller are coordinative in a transaction model. Coordination and cooperation between buyer and seller are obtained at last.
Key Words：Industrial System; Rationality; Value; Transaction; Price; Bargaining; Invisible Hand
Post-Doctoral Report Abstract
The dynamics of socio-economic systems：
The interdisciplinary exploration based on the complex trade networks
Socio-economic systems are complex evolutionary systems. Interdisciplinary research is trend of methods. We combine complex network with the theoretical model of transaction based on the rational model, establish new ideas on complex trade networks, carry out the research of social and economic complex systems. Followed the bottom-up principle, interdisciplinary researches combine economics and management science with political science, sociology, anthropology, history, biology. Five Innovation points can be summed up as follows:
(1) Different with the application of game theory, we construct new complex trade network model of social-economic systems based on trade model. Trade model is due to its dynamic nature, which is expected to overcome the static defects of game theory and explain the complex social-economic phenomena.
(2) From the point of management on complex trade networks, we establish the triangular structure model among the government and the market powers, market powers mainly consist of two powers: producers’ power and consumers’ power. The triangular structure model, which distinguishes from methodological individualism and Game theory, can be expected to become a new kind of social science methodology for interdisciplinary research.
(3) Based on complex trade network and cross-border economic interactions between individual nodes, we establish a new international trade theoretical model, which differs from the main emphasis of the traditional theories of international trade. New model of international trade can take into account the role of the direct impact of exchange rates, and can dynamically simulate the price negotiations of international trade.
(4) Based on the triangular structure model, we construct a new framework model of new institutional economics. The traditional research of new institutional economics focus game theory as a main research tool, we focus the triangular structure model based on transactions and contracts among producers’ power, consumers’ power and the Government as a main research tool. The meanings of transaction costs and institutional change are analyzed and explained in new system framework.
(5) Based on triangular structure model and new framework model of new institutional economics, we construct a new model of political economy to research gene sequences of countries’ evolution in human societies’ history, and divide property right and political power respectively into two types: public property and private property. The 4 basic types of national nature can be separately encoded as A,B,C,D, and the different basic type has genetic characteristics and can dynamically transformed from one type to the other type.
Key Words：Socio-economic systems；complex trade networks; triangular structure model; new international trade model; new model of political economy
Post-Doctoral Report Contents
The dynamics of socio-economic systems：
The interdisciplinary exploration based on the complex trade networks
Table of Contents
Abstract in Chinese
Abstract in English
1 Self-organized dynamics of complex economic networks
1．1 Introduction
1．1．1 Advances on trade models
1．1．2 Our research works
1．2 A transaction and economic networks
1．3 Free trade model and self-organized economic networks
1．4 Self-organized dynamics of economic networks
1．5 bounded Rationality and business cycle
1．6 Conclusion
2 The triangular structure model among government and market powers
2．1 Introduction
2．2 Market、government and transactions
2．3 Model
2．3．1 Transaction process
2．3．2 Puzzles in transaction process and functions of government
2．3．3 The triangular structure model
2．4 Comparisons and discussion
2．4．1 Methodological individualism
2．4．2 Game theory
2．4．3 Artificial societies and social simulation
2．5 Conclusion
3 A new international trade theoretical model based on transaction of agents
3．1 Introduction
3．2 Method
3．3 Transaction model in nation
3．4 New international trade model
3．4．1 International trade and national trade
3．4．2 Exchange ratesnd international money
3．4．3 Producer value in international trade
3．4．4 Consumer value in international trade
3．4．5 Equilibrium price in international trade
3．5 Transaction process model in international trade
3．6 Conclusion
4 Framework model of new institutional economics
4．1 Introduction
4．2 Government and institutional economics
4．3 Framework model
4．4 Institutional framework and transaction relations
4．5 Institutional change and transaction costs
4．6 Conclusion
5 New model of political economy of a nation
5．1 Introduction
5．2 Method
5．3 The triangular structure model and new political economy
5．4 Gene sequences of countries’ evolution in human societies’ history
5．5 Transform of gene sequences of countries’ evolution
5．6 Conclusion
References
https://blog.sciencenet.cn/blog-321317-261754.html
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