This award supports Professor Doraiswamy Ramachandran of California State University at Sacramento to collaborate in mathematics research with Professor Ludger Rueschendorf of the Institute of Mathematical Stochastics of the University of Freiburg, Germany. Together they will pursue the connections between perfect probabilities and duality, develop new duality theory under marginal inequality constraints and derive stochastic and economic applications of the new theory. Their joint research in this area will benefit from Dr. Ramachandran's expertise in perfect probability spaces and Dr. Rueschendorf's complementary expertise in stochastic optimization. This research focuses on some very fundamental aspects of measure theory and probability, while holding the possibility of a variety of practical applications in fields such as mathematical economics, mass transportation and more theoretical areas such as duality theory. Despite the long and fruitful history of work in this field by others, the ideal complementarity of expertise and the track record of these two collaborators suggests that significant new insights may result from their joint effort.
