a3ae7c68b088d310VgnVCM100000c2b1d38dRCRDapproved/UMICH/stats/Home/Events/Michael Woodroofe Lecture SeriesIoannis Karatzas, Recent Approaches to Optimal Stopping, with Applications###@###(Tue, 3 Oct 2006)Ioannis Karatzas, Recent Approaches to Optimal Stopping, with Applications###@###(Tue, 3 Oct 2006)340 West Hallstats115990560000011599056000004:00 PM<p><b>Abstract: </b>The problem of Optimal Stopping is of fundamental importance for sequential analysis, for the detection of signals in a background of noise, and also for pricing American-type options in the modern theory of finance. We shall review in this talk two relatively recent approaches to this problem: the deterministic or “pathwise” approach of Davis &amp; Karatzas (1994), and the “integral representation” approach of Bank &amp; El Karoui (2003). Each of these approaches has its own mathematical and methodological interest, and is almost tailor-made for particular applications. We shall discuss in some detail various aspects of the two approaches. Whether one of them can be obtained directly from the other, remains a tantalizing open question.</p>Njjsantosjjsantos136683151140773ae7c68b088d310VgnVCM100000c2b1d38d____once11112newnewIoannis Karatzashttp://www.math.columbia.edu/~ik/