EURANDOM is a European Research Institute for Statistics, Probability, Stochastic Operations Research and their Applications. The mission of EURANDOM is to foster research in Europe in the stochastic sciences and their applications. It achieves this mission: i) by recruiting and training talented young researchers and helping them to find their way to tenured positions in academia and industry; ii) by carrying out and facilitating research through postdoctoral and graduate appointments, visitor exchange and workshops; iii) by taking initiatives for collaborative research at the European level. EURANDOM was founded as an international institute on 30 June 1997 by the Netherlands Organisation for Scientific Research (NWO) and Eindhoven University of Technology (TU/e) and has been operational since the summer of 1998. EURANDOM is embedded in the Department of Mathematics and Computer Science, TU/e. Stochastics (Statistics, Probability theory, and Stochastic Operations Research) is a mathematical discipline that plays an important role in our technological society. We are more and more faced with organisations, systems and processes so complex that a description and analysis in terms of random elements is more appropriate and effective than a fully deterministic approach. Accordingly, stochastics is becoming increasingly important in other disciplines, like physics, chemistry, biology, economics and telecommunication. Stochastics is internationally flourishing. Consequently, there is a great need to train a new generation of mathematicians with a strong knowledge of the foundations of stochastics, a good insight into the applicability of stochastics in diverse areas, and an open attitude toward newly developing theories and applications. EURANDOM aims to contribute to this.
Research programmes: The scientific activities of EURANDOM are organised in four research programmes, which all are central in the area of stochastics. Most programmes have 2-4 themes. A. Multivariate Risk Modelling (MRM): i) New Rating Models for Asset Backed Securities (ABSs); ii) Alternative Volatility Models; iii) Credit Derivatives and their risk management; B. Queueing and Performance Analysis (QPA): i) Queueing Theory; ii) Performance Analysis of Production Systems; iii) Performance Analysis of Communication Systems; C. Random Spatial Structures (RSS): i) Critical Phenomena; ii) Disordered Media; iii) Random Networks; iv) Population dynamics; D. Statistical Information and Modelling (SIM): i) Statistical Signal and Image Analysis; ii)Statistics in Biology.