Prof. Mishael Milakovic, PhD
96052 Bamberg (GER)
Tel: [+49] (951) 863-2582
Fax: [+49] (951) 863-2581
Office hours: Tuesday 12-1pm (during the lecture period, otherwise by appointment)
Mishael Milaković's work focuses on statistical equilibrium economic modeling. The concept of statistical equilibrium rests on the observation that economies are made up of a large number of heterogeneous agents whose interactions give rise to aggregate regularities in the form of statistical distributions, which routinely are neither foreseen nor intended by individual ("optimizing") agents. The aim of his research is to understand which agent interactions are macroeconomically crucial in the sense that they do not cancel out in the process of aggregation.
Milaković has addressed these questions in the fields of finance, industrial dynamics, and income and wealth, where all key variables exhibit remarkable non-Gaussian regularities. He also investigates how the topology of interactions influences market outcomes and distributions. (Publications)