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Probability and Computational Finance Seminar
Timo Seppalainen
University of Wisconsin
Title: The corner growth model

Abstract: The corner growth model, or nearest-neighbor directed last-passage percolation on the planar square lattice, has a special place at the nexus of probability theory, applied probability, and statistical physics. It is related to queueing theory and interacting particle systems. The version with exponentially or geometrically distributed weights is exactly solvable, and was among the early models studied under hydrodynamic limits of particle systems and Kardar-Parisi-Zhang (KPZ) universality. This talk begins by tracing some themes from the past of the corner growth model, and then concentrates on recent work on the case with general distributions. The general case is not exactly solvable and has been very challenging to study. We will discuss recently discovered variational formulas for the limit shape, Busemann functions, geodesics, and the competition interface, and how these notions might be related to fluctuation exponents.

Date: Monday, November 23, 2015
Time: 4:30 pm
Location: Wean Hall 8220
Submitted by:  Steve Shreve