Position

Head of Department
Distinguished Research Professor
Director of SRS Consortium for Advanced Study

Contact

E-mail: dwkyeung@hksyu.edu
Office: RHB 407
Telephone number: +(852) 2804 8506

More Details

  • Full CV can be found here.
  • Mathematical Formulae developed by D.W.K. Yeung can be found here.

Brief Biography

Prof. Dr. Dr.h.c. David W. K. Yeung is Distinguished Research Professor and Head of Department of Economics and Finance 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.”
 

Academic Qualifications

  • B.Soc.Sc. (Economics & Statistics) University of Hong Kong
  • M.A. (Economics) York University
  • Ph.D. (Mathematical Economics) York University
  • Dr.h.c. (Applied mathematics) Saint Petersburg State University - Studied in the Doktor Nauk Program (higher doctorate above PhD) and was awarded the highest degree Dr.h.c.

Working Experience

Jan 2010 –

Distinguished Research Professor

Head of Department of Economics and Finance (Sept 2020-

Head of Department of Business Administration (Jan 2010 - Aug 2020)

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 Universityy
 
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

York University
 
July 1984 – June 1986          

Visiting Assistant Professor, Department of Economics

Queen's University
 

Scholarships

1983 1984 Doctoral Fellowship
Social Sciences and Humanities Research Council of Canada
 
1982 1983 Doctoral Fellowship
Social Sciences and Humanities Research Council of Canada
 
1981 1982 York Graduate Scholarship
 
1973 Grantham Scholarship
Scholarships awarded but declined due to the holding of other fellowship concurrently
 
1982 Doctoral Scholarship
Canada Mortgage and Housing Corporation
 
1982 Ontario Graduate Scholarship
 
1981 Queen’s Scholarship
 

Honors and Awards

  • Saint Petersburg State University’s highest degree, Dr.h.c., for contributions in differential game theory (while studying D.Sc. (Doktor Nauk) in Applied Mathematics)
  • Distinguished Honorary Professor, Qingdao University – appointed along with Nobel Laureates John Nash and Reinhard Selten and Robert Aumann.
  • Plenary Speaker at the International Congress of Mathematicians 2002 historic first Satellite Conference on Game Theory and Applications – other plenary speakers included Nobel Laureates John Nash, Reinhard Selten and Robert Aumann
  • Kantorovich Research Chair in Stochastic Differential Games, Saint Petersburg State University – for signal research contributions in stochastic differential games.
  • Invited Nominator for the Nobel Memorial Prize in Economic Sciences
  • Editorial Advisory Council Member of Pacific Economic Review
  • Honorary Adviser - The Institute of Business Administrants (IBA)

Fields of Specialization and Research Interests

  • Game Theory
  • Operations Research
  • Stochastic Processes
  • Stochastic Control
  • Probability Theory
  • Financial Engineering and Modelling
  • Mathematical Economics
  • Microeconomics
  • Resource Economics
  • Environmental Economics
  • Economics of E-Commerce

Most Recent Refereed Articles and Books

  1. D.W.K. Yeung, L.A. Petrosyan and Y.X. Zhang: Trade with Technology Spillover: A Dynamic Network Game Analysis, forthcoming in International Game Theory Review, 2021.
  2. L.A. Petrosyan and D.W.K. Yeung: Cooperative Dynamic Games with Durable Controls: Theory and Application, forthcoming in Dynamic Games and Applications, 2020.
  3. D.W.K. Yeung, Y.X. Zhang, H.T. Bai, S. Islam: Collaborative Environmental Management for Transboundary Air Pollution Problems: A Differential Levies Game, forthcoming in Journal of Industrial and Management Optimization, 2020.
  4. D.W.K. Yeung, S. Luckraz and C.K. Leong (Eds): Frontiers in Games and Dynamic Games - Theory, Applications, and Numerical Methods, Birkhauser, 194pp., forthcoming in 2020, ISBN 978-3-030-39788-3.
  5. D.W.K. Yeung: Dynamically stable cooperative provision of public goods under non-transferable utility, in D.W.K. Yeung, S. Luckraz and C.K. Leong (Eds): Frontiers in Games and Dynamic Games - Theory, Applications, and Numerical Methods, Birkhauser, forthcoming in 2020.
  6. L.A. Petrosyan and D.W.K. Yeung: Shapley Value for Differential Network Games: Theory and Application, forthcoming in Journal of Dynamics and Games, 2020./span>
  7. L.A. Petrosyan and D.W.K. Yeung: Dynamically Consistent Bi-level Cooperation of a Dynamic Game with Coalitional Blocs, in L.A. Petrosyan, V.V. Mazalov and N. A. Zenkevich (eds) Frontiers of Dynamic Games, Birkhauser, Switzerland, 2019, pp. 209-230.
  8. L.A. Petorsuan and D.W.K. Yeung, (eds.): Handbook on Game Theoretic Analysis, World Scientific, ISBN: 978-981-12-0200-1, forthcoming.
  9. D.W.K. Yeung and A.W.C. Lui (2019) China’s Belt-Road Initiative: The Political Economy of Coordinated Coalition Cooperation, in Handbook on Contemporary Issues in International Political Economy (eds. Tony Yu and Dianna Kwan), Palgrave, pp. 197-226.
  10. D.W.K. Yeung, L.A. Petrosyan (2019): Cooperative Dynamic Games with Control Lags, Dynamic Games and Applications, 9(2), 550-567, 2019, https://doi.org/10.1007/s13235-018-0266-6.
  11. D.W.K. Yeung and L.A. Petrosyan: Nontransferable Utility Cooperative Dynamic Games, in T. Basar and G. Zaccour (eds.) Handbook of Dynamic Game Theory, Birkhauser, 2017, https://doi.org/10.1007/978-3-319-27335-8_13-1.
  12. D.W.K. Yeung, L.A. Petrosyan, Y.X. Zhang and F. Cheung: BEST SCORES Solution to the Catastrophe Bound Environment, Nova Science, New York, 2017, ISBN 978-1-53610-924-5./span>
  13. D.W.K. Yeung, O. Petrosian: Infinite Horizon Dynamic Games: A New Approach via Information Updating. International Game Theory Review, Vol.19, No. 4, December 2017, DOI 10.1142/S0219198917500268.
  14. D.W.K. Yeung: An Equilibrium Cooperative Optimization Solution for Two-person Non-transferrable Utility Games, Applied Mathematical Sciences, Vol 11, No. 2, 2017, pp.1413-1422.
  15. D.W.K. Yeung and L.A. Petrosyan: Subgame Consistent Cooperation – A Comprehensive Treatise, Springer, 2016, 520pp, ISBN 987-981-10-1544-1.
  16. D.W.K. Yeung and L.A. Petrosyan: A Cooperative Dynamic Environmental Game of Subgame Consistent Clean Technology Development, International Game Theory Review, Vol 18, No 2, 2016, pp.164008.01-164008.23.
  17. D.W.K. Yeung, Y.X. Zhang and P.M. Yeung: A Recursive Sequence of Sums of Consecutive Embedded Coalitions, International Journal of Mathematical Analysis, Vol. 10, 2016, pp. 9-14.
  18. D.W.K. Yeung and L.A. Petrosyan: Subgame Consistent Cooperative Solution for NTU Dynamic Games via Variable Weights, Automatica, Vol. 50, 2015, pp. 84-89.
  19. D.W.K. Yeung: Dynamic Consumer Theory – A Premier Treatise with Stochastic Dynamic Slutsky Equations, Nova Science Publishers, New York, ISBN 978-1-63321-796-6, 392pp, 2015.
  20. D.W.K. Yeung and P.M. Yeung: A Mathematical Model of Dynamic Interaction Between Virus and Deleterious Immunity Response. Journal of Applied Mathematics & Bioinformatics, Vol.5, no.1, 2015, 25-44.
  21. D.W.K. Yeung and L.A. Petrosyan: On Subgame Consistent Solution on NTU Stochastic Dynamic Games, Contributions to Game Theory and Management, 2015, Vol. 8, pp.347-360.
  22. D.W.K. Yeung: Dynamically Consistent Collaborative Environmental Management with Production Technique Choices, Annals of Operations Research, 2014, Vol.220, Issue 1, pp 181-204. DOI: 10.1007/s10479-011-0844-0.
  23. A. Haurie, D.W.K. Yeung, and G. Zaccour (Guest Editors): Special Issue on Collaborative Environmental Management and Modelling, Annals of Operations Research, 2014, Vol.220, Issue 1.
  24. D.W.K. Yeung: Optimal Consumption under Uncertainties: Random Horizon Stochastic Dynamic Roy’s Identity and Slutsky Equation, Applied Mathematics, Vol.5, January 2014, pp.263-284.
  25. D.W.K. Yeung: Random Horizon Stocahstic dynamic Slutsky Equation under Preference Uncertainty, Applied Mathematical Sciences, Vol. 8, 2014, pp.7311-7340.
  26. D.W.K. Yeung and L.A. Petrosyan: Subgame Consistent Cooperative Solutions For Randomly Furcating Stochastic Dynamic Games With Uncertain Horizon. International Game Theory Review, Vol. 16, Issue 2, 2014, pp.1440012.01-1440012.29.
  27. L. A. Petrosyan and D.W.K. Yeung (Guest Eds): Special Issue on Dynamic Games and Control Theory Dedicated to the Memory of Nikolay Nikolayevich Krasovskii. International Game Theory Review, Vol. 16, Issue 2, 2014.
  28. L. A. Petrosyan and D.W.K. Yeung: A Time-Consistent Solution Formula For Bargaining Problem In Differential Games. International Game Theory Review, Vol. 16, Issue 4, 2014, pp. 1450016.01- 1450016.11.
  29. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Cooperative Provision of Public Goods Under Accumulation and Payoff Uncertainties. In J. Haunschmied, V.M. Veliov and S. Wrzaczek (eds), Dynamic Games in Economics, 2014, pp. 289-315. Springer-Verlag Berlin Heidelberg.
  30. L.A. Petrosyan, J.V. Romanovsky and D.W.K. Yeung (eds): Advances in Economics and Optimization: Collected Scientific Studies Dedicated to the Memory of L.V. Kantorovich, New Nova Science Publishers, ISBN 978-1-63117-073-7, 252pp., 2014.
  31. D.W.K. Yeung and L.A. Petrosyan: Subgame Consistent Solution for a Dynamic Game of Pollution Management. In L.A. Petrosyan, J.V. Romanovsky and D.W.K. Yeung (eds): Advances in Economics and Optimization: Collected Scientific Studies Dedicated to the Memory of L.V. Kantorovich, New Nova Science Publishers, 2014, pp. 95-112.
  32. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Cooperative Solution of Stochastic Dynamic Game of Public Goods Provision, Contributions to Game Theory and Management, Volume 7, 2014, pp. 404-414.
  33. D.W.K. Yeung and L. A. Petrosyan: Subgame-consistent Cooperative Solutions in Randomly Furcating Stochastic Dynamic Games. Mathematical and Computer Modelling, Vol 57, Issues 3-4, 2013, pp.976–991.
  34. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Cooperative Provision of Public Goods. Dynamic Games and Applications, September 2013, Volume 3, Issue 3, pp. 419-442. DOI: 10.1007/s13235-012-0062-7.
  35. D.W.K. Yeung: Nontransferable Individual Payoffs in Cooperative Stochastic Dynamic Games, International Journal of Algebra, Vol. 7, No. 13, 2013, pp. 597-606.
  36. D.W.K. Yeung: Optimal Consumption under an Uncertain Inter-temporal Budget: Stochastic Dynamic Slutsky Equations, Vestnik St Petersburg University: Mathematics (Springer), Vol. 10, No.3, 2013, pp.121-141.
  37. D.W.K. Yeung, L.A. Petrosyan, R. Szeto and L. Lam: A Cooperative Stochastic Differential Game of Knowledge Technology Development, International Journal of Computer and Information Technology, Vol. 2 (5), 2013, pp. 934-941.
  38. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Economic Optimization: An Advanced Cooperative Dynamic Game Analysis, Boston: Birkhäuser. ISBN 978-0-8176-8261-3, 395pp, 2012.
  39. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Solution for Cooperative Stochastic Dynamic Games with Random Horizon, International Game Theory Review, Vol. 14, Issue 2, 2012, DOI: 10.1142/S0219198912500120.
  40. D.W.K. Yeung and L. A. Petrosyan: A Notational Note on Agreeable Solutions in Cooperative Differential Games, Game Theory and Applications, Vol. 15, 2012, pp.203-206.
  41. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Solution for a Cooperative Differential Game of Climate Change Control, Contributions to Game Theory and Management, Vol. 5, 2012, p 356-386.
  42. D.W.K. Yeung: Subgame Consistent Cooperative Solutions in Stochastic Differential Games with Asynchronous Horizons and Uncertain Types of Players, Contributions to Game Theory and Management, Vol. 5, 2012, p 334-355.
  43. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Cooperative Solution of Dynamic Games with Random Horizon. Journal of Optimization Theory and Applications, Vol. 150, pp78-97, 2011.
  44. D.W.K. Yeung: Dynamically Consistent Cooperative Solutions in Differential Games with Asynchronous Players’ Horizons, Annals of the International Society of Dynamic Games, Vol. 11, pp.375-395, 2011.
  45. D.W.K. Yeung: Stochastic Differential Games with Structural Uncertainties: A Paradigm for Interactive Stochastic Optimization, in Handbook of Optimization Theory: Decision Analysis and Application, Juan Varela and Sergio Acuna (eds), NOVA Publishers: New York, ISBN 978-1-60876-500-3, pp.89-116, 2011.
  46. D.W.K. Yeung and L. A. Petrosyan: Subgame Consistent Solutions for Cooperative Stochastic Dynamic Games. Journal of Optimization Theory and Applications, Vol. 145, Issue 3, 2010, pp.579-596.
  47. D.W.K. Yeung: Subgame Consistent Shapley Value Imputation for Cost-Saving Joint Ventures, Mathematical Game Theory and Applications, Vol. 2(3), 2010, pp.137-149.
  48. D.W.K. Yeung: A Class of Stochastic Predation Ecosystems with Nonlinear Predation Rates and Closed-form Densities, International Journal of Ecological Economics & Statistics, Vol.16, Issue No. W10, 2010, pp.1-13.
  49. D.W.K. Yeung, Y.X. Zhang. P.M. Yeung and D. Mak: Dynamic Game of Offending and Law Enforcement: A Stochastic Extension, International Game Theory Review, Vol. 12, No.4, 2010, pp.380-381.
  50. V. Mazalov, D.W.K. Yeung and N. Zenkevich (Guest Eds): Special Issue in Honor of Leon A. Petrosyan, International Game Theory Review, Vol. 12, No.4, 2010.
  51. D.W.K. Yeung: Exact Densities for a Class of Stochastic Circular Food Chain, International Journal of Algebra, Vol. 4, No. 12, 2010, pp.561 - 568.