It is delighted for ACBES 2019 to welcome distinguished Keynote Speakers:

Dr. Christopher Waller

Executive Vice President and Director of Research at the Federal Reserve Bank of St. Louis, US


Dr. Christopher Waller is Executive Vice President and Director of Research at the Federal Reserve Bank of St. Louis. He has been in his current position since 2009 and serves as the main policy advisor to the President of the FRB St. Louis. He earned a BA from Bemidji State University (1981) followed by an MA (1984) and a PhD (1985) in economics from Washington State University. He is also a Professional Research Fellow at Deakin University in Melbourne, Australia.
Dr. Waller’s responsibilities are to serve as the main advisor to the President of the Bank on monetary policy issues, manage the research division and its data services (FRED) and serve on the bank’s management committee which sets the direction for the bank as whole.
He began his career as a member of the economics faculty at Indiana University-Bloomington from 1985-1998. He then moved to the University of Kentucky, where he served as a professor and C. M. Gatton Chair of Monetary Economics. In 2003, he joined the University of Notre Dame as a professor and Gilbert F. Schaefer Chair of Economics. He was one of the founding members of the new economics department at the University of Notre Dame and was instrumental in its development. He also served as a research fellow with the Nanovic Institute for European Studies and the Kellogg Institute for International Studies during his time at Notre Dame. Since coming to the Federal Reserve Bank of St. Louis he has rebuilt the research division and raised the research reputation of the FRB St. Louis.
Other academic assignments include visiting professorships at the University of Bonn, Germany; University of Canterbury, New Zealand; Kiev-Mohyla National University, Ukraine; and the University of Mannheim, Germany. Waller’s research focuses on monetary theory and political economy. His work has been published in a variety of top scholarly journals such as the American Economic Review and the Quarterly Journal of Economics.

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Dr. Sandro Sozzo

School of Business, the University of Leicester (UK)

 Title: The Modelling of Human Decision Making Under Uncertainty


Expected utility theory (EUT) is the predominant model of decision making under uncertainty, and it is widely used in economic theory. However, its subjectiveprobability formulation, first elaborated by Savage, is linked to Ellsberg-likeparadoxes and ambiguity aversion. This has led various scholars to work outnon-Bayesian extensions of EUT which cope with its paradoxes and incorporate individualattitudes toward ambiguity. A variant of the Ellsberg paradox, recently proposed by Mark Machina and confirmed experimentally, challenges existing non-Bayesianmodels of decision making under uncertainty. Relying on a decade of researchwhich has successfully applied the mathematical formalism of quantum theory tomodel the so-called “fallacies of human reasoning”, we put forward anon-Bayesian extension of EUT in which subjective probabilities, preferencesand decisions are represented within a quantum formalism. We show that thebenefits of using the quantum theoretical framework enable the modelling of theEllsberg and Machina paradoxes, as the representation of ambiguity and behaviouralattitudes toward it. The theoretical framework presented here is a first steptoward the development of a “state-dependent non-Bayesian extension of EUT”,and has potential applications in economic and financial modelling, which aresketched too.


Dr Sandro Sozzo is Associate Professor at the School of Business of the University of Leicester (UK). His research interests mainly concern the development of novel mathematical modelsin decision making under uncertainty, with applications in cognition,behavioural economics and finance.

Sandro Sozzo authored more than 80 publications, organized international conferences, coordinated specialissues, and was invited to give keynote lectures in the UK (notably at theUniversity of Oxford), EU, Russia, US, Canada, and China. He is the secretaryof the US-based “International Quantum Structures Association” and the managingeditor of the Springer Nature journal “Foundations of Science”.

In 2014, Sandro Sozzo founded the “Centre for Quantum Social and Cognitive Science” (IQSCS), which hecurrently directs. He also participates as investigator in the research consortium“QUARTZ”, which is funding a Marie Curie Innovative Training Network to theamount of €3.5M. He is a peer-reviewexpert for the UK Leverhulme Trust Fund and the ESRC, the EU Cost Action, theUS-Israel BSF, and the Italian Ministry of University & Research.

At the School of Business,Sandro Sozzo acts as deputy director of internationalization and research andprogramme leader for the Finance Division.

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