Arial view of lower Manhattan

Letter From the Chair

Awi Federgruen, Chair of Accounting Division
Awi Federgruen, Chair of Decision, Risk, and Operations Division


The Quantitative Advantage

The Decision, Risk, and Operations Division is a world leader in research and instruction in quantitative, data-driven decision-making through the use modeling, optimization and the management of uncertainty, and all aspects of the operations and analytics functions in firms.

Application areas in which the division has strong expertise include business analytics; e-commerce; revenue management; logistics, distribution and supply-chain management; resource networks and service systems; healthcare operations; market design; quantitative finance with emphasis on the valuation of derivative securities, modern market microstructure, and risk management; and econometrics.

An important aspect of the mission of the division is to foster collaboration with industry and impact society by solving important practical problems such as helping hospitals care for their patients in a more efficient and cost effective manner; coordination and risk mitigation in global supply chains; design of dynamic and responsive pricing algorithms in a variety of industries; creation of innovative securities trading algorithms; design of frameworks to measure systemic risk; and optimization of the operations of online marketplaces.

The division is actively involved in teaching in the MBA and PhD programs. In the MBA program, the division teaches the core courses on Managerial Statistics, Business Analytics, and Operations Management, and offers a suite of electives in various topics in Operations, Analytics, and Technology.

Awi Federgruen

Charles E. Exley Professor of Management;
Chair of Decision, Risk, and Operations Division

About Decision, Risk, and Operations

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Affiliated Departments and Research Centers

The Computational Optimization Research Center carries out advanced studies in the solution of difficult, large-scale optimization problems, with special focus on state-of-the-art implementation of modern algorithms.

Center for Applied Probability provides an umbrella under which diverse research and educational activities in probability and its applications can be focused and supported.

Industrial Engineering and Operations Research is the home to Financial Engineering, a multidisciplinary field that requests familiarity with financial theory, the methods of engineering, the tools of mathematics and the practice of programming.

The Center for Financial Engineering is part of an interdisciplinary field of research where contributions from applied mathematics, economics, operations research, statistics and computer science have given birth to remarkable developments in market practice.