Many decisions we make repeatedly not only affect our present but also the future. In economics, such decision problems are referred to as dynamic because they involve a time dimension. For example, should I repair my old car again, or should I buy a new one because the old one might need repairs again tomorrow?
In many fields, it is helpful to develop models for such decision problems. For instance, if subsidies are meant to promote the purchase of newer, environmentally friendly cars, one can model the decisions of various car owners and their effects to allocate subsidy funds as efficiently as possible.
Economist Dr. Gregor Reich, in his research, develops algorithms that help model such decision problems more realistically and calculate them with greater precision. Gregor Reich completed his dissertation at the Institute of Business Administration at the University of Zurich. For his outstanding research contributions, Gregor Reich was awarded the Mercator Award in 2015 in the field of law and economics.