Michael Cain

He is a Chartered Mathematician, has worked in University Departments of Mathematics, Probability and Statistics, Economics and Finance & Management Science; and he has held faculty positions in Universities in Australia (UNSW),  Canada (Alberta) and Vietnam (HCMC). His research interests are varied in the areas of Mathematical Economics/Finance, Operational Research and Statistics; and he has published in major international journals in those areas. He was Professor of Finance and Management Science at the International University of  Vietnam National University, Ho Chi Minh City, and he is also Professor Emeritus of the University of Wales, Bangor, UK.  Previously he was Professor of Management Science in the BusinessSchool of the University of Wales, Bangor, Reader in Economics and Professorial Fellow of the University of Salford, Associate Professor of Management Science in the BusinessSchool of the University of Alberta, Edmonton, Alberta, Canada, and Lecturer in Economics and Lecturer in Statistics at the University of Wales, Aberystwyth, UK.  His  research has involved the Utility of Gambling/Finance,  Bookmaking, Statistical Auditing, Sports Economics, Property Valuation under Asymmetric Loss and Stochastic Optimisation. His publications include articles in the Journal of the American Statistical Association, JASA, Risk and Uncertainty, Naval Research Logistics, The American Statistician, The Indian Journal of Statistics, Sankhya, The Annals of the Institute of Statistical Mathematics, The Journal of Quality Technology, The Journal of the Royal Statistical Society, Geneva Papers in Risk and Insurance Theory, Bulletin of Economic Research, European Journal of Finance, The Manchester School, Scottish Journal of Political Economy, Economica, Journal of Forecasting, Journal of the Operational Research Society, The Mathematical Scientist, Materials and Society, IMA Journal of Mathematics Applied in Business and Industry, Computational Statistics and Data Analysis, Information Systems and Operational Research, Applied Economics, Applied Economics Letters, The Economics of Gambling, Applied Financial Letters, Advances in Econometrics, The International Journal of Middle East Studies, The Middle East Business and Economic Review, the Review of Law and Economics, and the Journal of Financial Crime. He has supervised numerous PhD and Masters students, presented papers at international conferences at both home and abroad, and acted as a journal referee and as an external assessor for higher degrees and readership/professorships.

Recent courses: Financial Modelling, Business Statistics, Quantitative Methods in Finance,  Optimisation, Management Science, Quantitative Methods for Business, Financial Engineering.

Statistical Auditing, Sports Performance, Crime Prevention, Quantitative Finance. To use his expertise in Probability & Distribution Theory, Mathematical Programming and Economic Optimisation,  to explore such things as the possibility of any incoherence in Portfolio Analysis and Financial Economics, with reference to mean-variance and higher moment models, and arbitrage pricing; and to also promote an awareness of the incidence and consequences of Gambling in Finance. To try to add value to the empirical work of other staff colleagues by using his particular expertise to model, estimate and optimise any underlying economic or financial decision making processes, with a view to placing papers in good journals. This mainly would use three threads of his work: on asymmetric loss applied to real-estate property valuation and technology management; stochastic optimisation; the utility of gambling.

Financial Modelling/Financial Gambling and Bookmaking and Betting, given at either undergraduate or postgraduate level. This would consider such things as Casino Gaming, Financial Derivatives, Brownian Motion, Stochastic Calculus, Arbitrage Pricing, Binomial Approximations and Simulation for pricing Options, Financial Engineering; and the particular financial market of Bookmaking & Betting.    

Professor Emeritus, University of Wales, Bangor, Wales, UK.  

Professor of Finance & Management Science, VietnamNationalUniversity, Ho Chi Minh City.