- Michael Wellman (Computer Science & Engineering)
- Michael S. Barr (Public Policy, Law)
- Uday Rajan (Finance)
- Gabriel Rauterberg (Law)
This project is funded by JP Morgan Chase through their Faculty Research Awards Program.
The project will develop an agent-based simulation platform to study a variety of salient questions about the influence of innovations on the global financial payments system. The core idea is to operationalize payments on a computationally realized model of financial credit networks, which includes constructs to capture a broad range of financial obligations and capabilities across individuals, firms, and financial institutions. Alternative scenarios can be simulated to generate data describing a pattern of transactions, financial events, and network evolution. Through analysis of these patterns, we seek insights about systematic effects of policies and innovations, including new payment mechanisms, financial instruments, and regulatory interventions. This platform will facilitate interdisciplinary research across Computer Science, Finance, and Law at the University of Michigan, and with JP Morgan Chase AI researchers.