CUDE is a Research Training Group (RTG 2865) located at Bielefeld University and funded by the DFG. It consits of 10 principal investigators and welcomes its forst cohort of doctoral researchers in October 2023. The core research idea splits in three Research Areas.
The RTG’s innovation is to explore a new subfield in economic theory that merges two features central to current and future economies: uncertainty and dynamics. We understand uncertainty in the sense of Frank Knight, in that decision makers struggle to assign reliable estimates of probabilities to future events. This Knightian uncertainty is widely believed to capture our world’s mega trends such as climate change, energy crisis, migration, pandemics, and technological development. Its analysis has been a central research topic in decision theory for the last two decades, and increasingly in microeconomic theory more generally, currently being explored at research centers around the world.