On January 8, the CPC Central Committee and the State Council held the 2015 State Science and Technology Awards Ceremony in Beijing. Xi Jinping, the General Secretary of the CPC Central Committee, the State President and the Chairman of the Central Military Commission and other state leaders attended the ceremony and awarded the prize winners. SDU won a total of six State Science and Technology Awards.

Professor Chen Zengjing from the School of Mathematics of SDU won the State Nature Science Second-Class Prize for his accomplishing the project “the Nonlinear Expectation Method in Asset Pricing Theory”independently. The State Nature Science Second-Class Prize also went to the research project on Identification and Control of Uncertain Systems, in which Liu Yungang, Professor from School of Control Science and Engineering was involved as a second completer.

Besides, the State Science and Technology Second-Class Progress Prize was awarded to four projects, three of which SDU was involved as the second completer, including projects on Extrusion Moulding and Application Technology of Aluminum Alloy Profiles with High Performance, Large Scale and Complex Sections, completed by Professor Zhao Guoqun, Professor Guan Yanjin and Associate Professor Zhang Cunsheng, on Basic Research and Application of the Influence of Environmental and Genetic Factors on Male Productive Function, completed by Professor Chen Zijiang, and on Poly-generation Key Technology and Equipment for Agricultural and Forestry Residues Cleaning, Pyrolysis and Gasification, completed by Professor Dong Yuping, and the project on Key Technology Development for the Industrialization and Internalization of Omeprazole Series Products in which SDU was the fourth completer.

Supported by National 973 program and National Outstanding Youth Science Fund, based on Nonlinear Expectation which is introduced by academician of Chinese Academy of Science Peng Shige, Professor Chen Zengjing studied asset pricing theory in incomplete market. He obtained a new kind of asset pricing model, Chen-Epstein formula, which developed the rational expectation asset pricing model introduce by Noble Prize winner Lucas. This contribution has a great influence on Mathematics and Finance. This result is widely recommended by researchers from Harvard University, Princeton University, Cambridge University, Stanford University, Chicago University and Oxford University, etc. Especially, the 2011 Noble Prize winner Sargent and 2013 Noble Prize winner Hansen highly praised it in 9 papers and monograph. In Hansen’s Noble lecture, he said, “Another insightful formulation is given by Chen and Epstein (2002)”.

Source: www.view.sdu.edu.cn, School of Mathematics

Translated by Zong Gaofeng, Lang Cuicui

Photo by Zhou Jingxin

Edited by Xie Tingting