Professor Dr. Dr.h.c. David YEUNG
|Prof. Dr. Dr.h.c. David W. K. Yeung is Distinguished Research Professor and Head of Business Administration at Hong Kong Shue Yan University, and Kantorovich Research Chair in Stochastic Differential Games and Co-director of Centre of Game Theory at Saint Petersburg State University. He is also Distinguished Honorary Professor of Qingdao University - an honor he received along with Nobel laureates John Nash, Reinhard Selten, Robert Aumann and Lloyd Shapley.
Yeung also serves as Director of the SRS Consortium for Advanced Study in Dynamic Cooperative Games -- a joint research initiative under the auspices of Saint Petersburg State University, Russian Academy of Sciences and Shue Yan University. He has held Faculty positions at Queen’s University, University of Hong Kong and National University of Singapore.
Yeung obtained his BSocSc in economics and statistics from University of Hong Kong and his PhD in mathematical economics from York University. He studied in the Doctor of Sciences (Doktor Nauk – Continental European higher doctorate above PhD) program in applied mathematics at Saint Petersburg State University and was awarded the University’s highest degree of Dr.h.c. for his outstanding contributions in differential games. The Doktor Nauk program requires an average of 15 years to complete and the development of a new scientific field (in contrast with the PhD program which requires the development of a new topic). Saint Petersburg State University’s Dr h.c. has traditionally been conferred upon highly distinguished scientists and Nobel laureates.
Yeung’s main areas of research are game theory, optimization and stochastic processes. He serves as Managing Editor of International Game Theory Review, Guest Editor of Annals of Operations Research, Associate Editor of Dynamic Games & Applications, Associate Editor of Operations Research Letters, Editor of the Routledge (Taylor & Francis) Series on Economics and Optimization, and Board of Editors of Mathematical Game Theory & Applications. Yeung has published extensively in world renowned science journals, in particular, Automatica, Journal of Optimization Theory and Applications, Annals of Operations Research, European Journal of Operational Research, International Game Theory Review and Mathematical Biosciences.
Among Yeung’s pioneering academic work is the origination of the notion of subgame consistency and a generalized theorem for the derivation of analytically tractable subgame consistent solutions which made possible the rigorous study of dynamic stochastic cooperation. Other pioneering academic work accredited to Yeung include – random horizon subgame consistent cooperative solution, randomly furcating differential games, Yeung’s Condition on irrational behaviour proof, stochastic differential games with overlapping generations of uncertain types of players, dynamically consistent solution for cooperative games with asynchronous players’ horizons, solution theorem for feedback Nash equilibria in endogenous horizons differential games, Yeung’s Lemma which demonstrates the correspondence of degenerate and non-degenerate FNE, the Yeung Number which identifies the number of embedded coalitions, discrete-time random-horizon Bellman equation and HJB equations, stochastic dynamic Slutsky equations, inter-temporal Roy’s identities and the Lotka-Volterra-Yeung density function.
In management sciences, Yeung’s pioneering work include subgame consistent schemes for global pollution management, dynamic games in management science with interest rate uncertainty, analysis on institutional investor speculation in stochastic differential games framework, time-consistent corporate joint ventures and subgame consistent cooperative solution mechanism for randomly furcating stochastic differential games to handle complex uncertainties in business syndicates. In economics, Yeung extended the Saint Petersburg tradition led by Leonid Kantorovich’s Nobel Prize winning work in optimal resource allocation to multiple-agent subgame consistent economic optimization.
Yeung and Leon Petrosyan co-authored the world’s first book on Cooperative Stochastic Differential Games. In the book’s advanced praise George Leitmann (Berkeley) stated that this book will be the ‘bible’ of the field for years to come. Vladimir Mazalov (Russian Academy of Sciences) praised the book’s advancements in dynamic stability as a continuation of the great tradition of A. Lyapunov, L. S. Pontryagin and V. Zubov.
Yeung and Petrosyan co-authored the world’s first treatise on Subgame Consistent Economic Optimization. Vladimir Mazalov praised the text as a Russian classic in mathematics and economics and it expanded L.V. Kantorovich’s award-winning work in economic optimization significantly in the new directions of game-theoretic interaction, dynamic evolution, stochasticity and subgame consistency.
Yeung also authored a premier treatise on dynamic consumer theory with stochastic dynamic Slutsky equations. This book is the world’s first text on consumer theory in a stochastic dynamic framework. It expands the static consumer theory into stochastic dynamic consumer theory. Prominent highlights of the book include a series of stochastic dynamic Slutsky equations and inter-temporal Roy’s identity.“The stochastic dynamic Slutsky equations in this book formed a new milestone in consumer theory after the classic work of Slutsky.” (Vladimir Mazalov, Russian Academy of Sciences)
Yeung and Leon Petrosyan co-authored the world’s first book on Subgame Consistent Cooperation, which is a comprehensive treatise on the concepts and solution mechanisms of their pioneering work on cooperative subgame consistency. In the book’s back-cover praise Vladimir Mazalov stated, “The 2004 Nobel Economics Prize was given to works in economic policies under the concept of time consistency with mathematical construction less general, rigorous and precise than that later developed in this book. …. In terms of advancement in practical applications this book is highly important theoretically and technically on top of economic interpretation.”
Jan 2010 –
Head of Department of Business Administration
Hong Kong Shue Yan University
Feb 2000 –
Co-Director, Centre for Game Theory
Saint Petersburg State University
July 2006 – Jan 2010
Chair Professor in Game Theory, Department of Finance and Decision Sciences
Hong Kong Baptist University
Jan 1999 – June 2006
Professor, Department of Finance and Decision Sciences
Hong Kong Baptist University
Sept 1997 – Aug 1999
Associate Professor, School of Economics and Finance
The University of Hong Kong
Jan 1996 – Aug 1997
Senior Lecturer, Department of Economics and Statistics
The National University of Singapore
Sept 1989 – Dec 1995
Lecturer, School of Economics and Finance
The University of Hong Kong
July 1987 – Sept 1989
Associate Professor, Department of Economics
University of Windsor
July 1986 – June 1987
Lecturer, Department of Economics
July 1984 – June 1986
Visiting Assistant Professor, Department of Economics
1983 1984 Doctoral Fellowship
Social Sciences and Humanities Research Council of Canada
1982 1983 Doctoral Fellowship
1981 1982 York Graduate Scholarship
1973 Grantham Scholarship
1982 Doctoral Scholarship
1982 Ontario Graduate Scholarship
1981 Queen’s Scholarship
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