Asst. Prof. Kemal Yıldız of the Department of Economics has received an MSCA-IF (Marie Skłodowska–Curie Action Individual Fellowship), the eighth such grant to have been awarded to a Bilkent University faculty member. The MSCA grants are a program of the European Commission, with fellowships awarded for research projects either within or outside Europe and associated countries.
Dr. Yıldız’s grant is a three-year global fellowship; his project will be conducted at both Bilkent University and Princeton University in the USA. The project’s aim is to understand, from the perspectives of choice theory and game theory, the impact that the limitations of finite memory have on dynamic decision making.
The research is of potential significance because, as Dr. Yıldız notes, formal economic models that incorporate the finite memory restriction are rather limited, even though memory limitations in the form of finite memory naturally arise in many facets of economic life. The results may have implications for a wide range of objectives, ranging from better understanding agents’ choices and making sense of observed choice patterns, to regulating markets so as to maximize social welfare.