Probability Seminar: Yanzhao Yang - A New Solution to Time Inconsistent Stopping Problem
| Dates: | 27 May 2026 |
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| Times: | 15:00 - 16:00 |
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| What is it: | Seminar |
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| Organiser: | Department of Mathematics |
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Yanzhao Yang (University of Oxford) will speak at the Probability seminar.
Title: A New Solution to Time Inconsistent Stopping Problem
Abstract: Time inconsistency is a situation that a plan of actions to be taken in the future that is optimal for an agent according to today's preference may not be optimal for the same agent in the future according to corresponding preference. In this talk, we propose a new framework for solving a general dynamic optimal stopping problem without time consistency. A sophisticated solution is proposed and is well-defined for any time setting with general flows of objectives. A backward iteration is proposed to find the solution. The iteration works with an additional condition, which holds in interesting cases including the time inconsistency arising from non-exponential discounting. Even if the iteration does not work, the equilibrium solution can still be studied by a forward definition.
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Frank Adams 2
Alan Turing Building
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