Didier Sornette: Catalogue data in Spring Semester 2021
|Name||Prof. em. Dr. Didier Sornette|
Professur f. Entrepreneurial Risks
ETH Zürich, SEC F 7
|Department||Management, Technology, and Economics|
|363-0564-00L||Entrepreneurial Risks||3 credits||2G||D. Sornette|
|Abstract||Dimensions of risks with emphasis on entrepreneurial, financial and social risks.|
What young entrepreneurs need to know from start-up creation to investment in innovation.
Perspectives on the future of innovation and how to better invent and create.
How to innovate and scale up and work with China.
Dynamical risk management and learning from the failure of others.
|Objective||We live a in complex world with many nonlinear|
negative and positive feedbacks. Entrepreneurship is one of
the leading human activity based on innovation to create
new wealth and new social developments. This course will
analyze the risks (upside and downside) associated with
entrepreneurship and more generally human activity
in the firms, in social networks and in society.
The goal is to present what we believe are the key concepts
and the quantitative tools to understand and manage risks.
An emphasis will be on large and extreme risks, known
to control many systems, and which require novel ways
of thinking and of managing. We will examine the questions
of (i) how much one can manage and control these risks,
(ii) how these actions may feedback positively or negatively
and (iii) how to foster human cooperation for the creation
of wealth and social well-being.
The exam will be in the format of multiple choice questions.
|Content||PART I: INTRODUCTION|
Lecture 1 (19/02): Risks (and opportunities) in the economic, entrepreneurial and social spheres
PART II: START-UPS AND INVESTMENT IN INNOVATION
Lecture 2 (26/02): Setting the landscape on entrepreneurship and private investment
Lecture 3 (04/03 and 11/03): Corporate finance
Lecture 4 (18/03): Legal, governance and management
Lecture 5 (25/03): Investors in the innovation economy
PART III: HOW TO PREDICT THE FUTURE
Lecture 6 (01/04): Historical perspective
Lecture 7 (08/04): The logistic equation of growth and saturation
Lecture 8 (22/04): Future perspective
Lecture 9 (29/04): The fair reward problem, the illusion of success and how to solve it
PART IV: HOW TO WORK WITH CHINA
“if China succeeds, the world succeeds; if China fails, the world fails” (D. Sornette).
Lecture 10 (06/05): The macro status in China and the potential opportunity and risks for the world
Lecture 11 (13/05): The collision of the two opposite mindsets: Innovation and Entrepreneurship in China and Switzerland
PART V: ESSENTIALS ON DYNAMICAL RISK MANAGEMENT
Lecture 12 (20/05): Principles of Risk Management for entrepreneurship
Lecture 13 (27/05): The biology of risks and war principles applied to management
|Lecture notes||The lecture notes will be distributed a the beginning of |
|Literature||I will use elements taken from my books |
Critical Phenomena in Natural Sciences,
Chaos, Fractals, Self-organization and Disorder: Concepts and Tools,
2nd ed. (Springer Series in Synergetics, Heidelberg, 2004)
-Y. Malevergne and D. Sornette
Extreme Financial Risks (From Dependence to Risk Management)
(Springer, Heidelberg, 2006).
Why Stock Markets Crash
(Critical Events in Complex Financial Systems),
(Princeton University Press, 2003)
as well as from a variety of other sources, which will be
indicated to the students during each lecture.
|Prerequisites / Notice||-A deep curiosity and interest in asking questions and in attempting to |
understand and manage the complexity of the corporate, financial
and social world
-quantitative skills in mathematical analysis and algebra
for the modeling part.
|364-1058-00L||Risk Center Seminar Series||0 credits||2S||G. Sansavini, D. Basin, A. Bommier, D. N. Bresch, L.‑E. Cederman, P. Cheridito, H. Gersbach, F. Schweitzer, D. Sornette, B. Stojadinovic, B. Sudret, U. A. Weidmann, S. Wiemer, M. Zeilinger, R. Zenklusen|
|Abstract||This course is a mixture between a seminar primarily for PhD and postdoc students and a colloquium involving invited speakers. It consists of presentations and subsequent discussions in the area of modeling and governing complex socio-economic systems, and managing risks and crises. Students and other guests are welcome.|
|Objective||Participants should learn to get an overview of the state of the art in the field, to present it in a well understandable way to an interdisciplinary scientific audience, to develop novel mathematical models and approaches for open problems, to analyze them with computers or other means, and to defend their results in response to critical questions. In essence, participants should improve their scientific skills and learn to work scientifically on an internationally competitive level.|
|Content||This course is a mixture between a seminar primarily for PhD and postdoc students and a colloquium involving invited speakers. It consists of presentations and subsequent discussions in the area of modeling complex socio-economic systems and crises. For details of the program see the webpage of the seminar. Students and other guests are welcome.|
|Lecture notes||There is no script, but the sessions will be recorded and be made available. Transparencies of the presentations may be put on the course webpage.|
|Literature||Literature will be provided by the speakers in their respective presentations.|
|Prerequisites / Notice||Participants should have relatively good scientific, in particular mathematical skills and some experience of how scientific work is performed.|