ROBERTO DIECI e-mail:  rdieci@rimini.unibo.it Dipartimento di Matematica per le Scienze Economiche e Sociali, University of Bologna Address: Università degli Studi di Bologna Facoltà di Economia del Polo di Rimini Via D. Angherà, 22 I-47900 Rimini, Italy Tel (+39) 0541-434143

Short CV

Born in Piacenza on 22. 11. 1963. Married to Lidia, father of Lorenzo.
1989: graduated in Economics, cum laude, at the University of Parma, with a thesis on mathematical models for inventory control.

1994: PhD in Mathematics for Financial Markets at the University of Brescia, with a final dissertation on optimization of corporate policies

1993-1994: Professor of Mathematics, Faculty of Economics, University of Sassari

1994-1995: Professor of Business Mathematics, Faculty of Economics, University of Parma
1995 – 2002: Researcher in Mathematics for Economics and Finance at the Faculty of Economics - University of Parma
2002 to present: Associate Professor of Mathematics for Economics and Finance, Faculty of Economics - Rimini, University of Bologna.

Recent Research Fields

Dynamical systems (stability, bifurcations and analysis of complex behaviour) and their applications to the modelling of the evolution of economic and social systems

Discrete dynamical systems represented by the iteration of noninvertible maps: study of their global properties and bifurcations through the method of critical manifolds; bifurcations leading to basins of attraction with a complex topological structure.

Non linear discrete-time dynamic models of financial fluctuations and business cycle

Evolutionary models of financial markets with heterogeneous interacting agents

Behavioural Finance

SELECTED PUBLICATIONS

Journals

C. Chiarella, R. Dieci, Laura Gardini, “Asset price and wealth dynamics in a financial market with heterogeneous agents”, Journal of Economic Dynamics and Control, forthcoming. download pdf

C. Chiarella, R. Dieci, X.-H. He, “Heterogeneous expectations and speculative behavior in a multi-asset dynamic framework”, Journal of Economic Behavior and Organization, forthcoming. download pdf

A. Agliari, R. Dieci, L, Gardini, “Homoclinic tangles in a Kaldor-like business cycle model”, Journal of Economic Behavior and Organization, forthcoming. download pdf

R. Dieci, I. Foroni, L. Gardini, X.-Z. He: “Market mood, adaptive beliefs and asset price dynamics”, Chaos, Solitons and Fractals, in press. download pdf

R. Dieci, S. Sordi, A. Vercelli, “Financial fragility and global dynamics”, Chaos, Solitons and Fractals, in press. download pdf

F. Westerhoff, R. Dieci, “The effectiveness of Keynes-Tobin transaction taxes when heterogeneous agents can trade in different markets: a behavioural finance approach”, Journal of Economic Dynamics and Control, in press (available on line http://www.sciencedirect.com/science/journal/01651889, Articles in Press)

C. Chiarella, R. Dieci, L. Gardini, “The dynamic interaction of speculation and diversification”, Applied Mathematical Finance 12(1), 2005, 17-52.

A. Agliari, G.I. Bischi, R. Dieci, L. Gardini, “Global bifurcations of closed invariant curves in two-dimensional maps: a computer assisted study”, International Journal of Bifurcation and Chaos, 15(4), 2005, 1285-1328.

R. Dieci, G.I. Bischi, L. Gardini, “Routes to complexity in a macroeconomic model described by a noninvertible triangular map”, Cubo A Mathematical Journal 5 (3), 2003.

Chiarella, R. Dieci, L. Gardini, “Speculative behaviour and complex asset price dynamics: a global analysis”, Journal of Economic Behavior and Organization 49, 2002, 173-197.

G.I. Bischi, R. Dieci, G. Rodano, E. Saltari, “Multiple attractors and global bifurcations in a Kaldor-type business cycle model”, Journal of Evolutionary Economics 11, 2001, 527-554.

R. Dieci, G.I. Bischi, L. Gardini, “Multistability and role of noninvertibility in a discrete-time business cycle model”, Central European Journal of Operational Research 9 (1-2), 2001, 71-96.

Chiarella, R. Dieci, L. Gardini, “Asset price dynamics in a financial market with fundamentalists and chartists”, Discrete Dynamics in Nature and Society 6, 2001, 69-99.

R. Dieci, “Critical curves and bifurcation of absorbing areas in a financial model”, Nonlinear Analysis: Theory, Methods and Applications 47, 2001, 5265-5276.

R. Dieci, G.I. Bischi, L. Gardini, “From bi-stability to chaotic oscillations in a macroeconomic model”, Chaos, Solitons & Fractals 12, 2001, 805-822.

M. Galeotti, R. Dieci, “A model of optimal financing decisions in a stochastic framework”, Journal of Statistics and Management Systems vol. 3, n. 1, 2000, 43-66.

Contributions in Multi-Author Books and Proceedings

C. Chiarella, R. Dieci, L. Gardini: “A dynamic analysis of speculation across two markets”, in Gallegati, M., Kirman, A., Marsili, M. (eds.), The Complex Dynamics of Economic Interaction - Essays in Economics and Econophysics, Lecture Notes in Economics & Mathematical Systems, Springer, Vol. 531, 2004, 197-212.

C. Chiarella, R. Dieci, L. Gardini: “Asset price dynamics and diversification with heterogeneous agents”, in Lux T., Reitz S., Samanidou E., (eds.), Nonlinear Dynamics and Heterogeneous Interacting Agents, Lecture Notes in Economics & Mathematical Systems, Springer, Vol. 546, 2005, 251-267.

Recent Working Papers and Research Reports

R. Dieci, I. Foroni, L. Gardini, X.-H. He: “Market mood, adaptive beliefs and asset price dynamics”, Quantitative Finance Research Paper Series, n. 162, School of Finance and Economics, University of Technology, Sydney, August 2005 (also available on-line http://www.business.uts.edu.au/qfrc/research/rp2005.html).

P. De Grauwe, R. Dieci, M. Grimaldi: “Fundamental and non-fundamental equilibria in the foreign exchange market: a behavioural finance framework”, CESifo Working Paper No. 1431, March 2005 (also available on-line http://www.CESifo.de/wp)

C. Chiarella, R. Dieci, L. Gardini, “Asset price and wealth dynamics in a financial market with heterogeneous agents”, Research Paper 134, Quantitative Finance Research Centre, School of Finance and Economics, University of Technology Sydney, October 2004 (also available on-line http://www.business.uts.edu.au/qfrc/research/rp2004.html)

G. Candela, M. Castellani, R. Dieci, “Non Pigovian externalities and economic policy”, Appunti e Ricerche, Biblioteca del Polo Scientifico-Didattico di Rimini, Università di Bologna, n. 1, 2004.

M. Ciaschini, R. Dieci, L. Gardini, “Nonlinearity in a multi-sector dynamic model”, Quaderni di Economia, Matematica e Statistica della Facolta' di Economia di Urbino, n. 84, ottobre 2003.

C. Chiarella, R. Dieci, L. Gardini, “A dynamic analysis of speculation across two markets”, Quantitative Finance Research Group, Research Paper Series, n. 89, School of Finance and Economics, University of Technology Sydney, January 2003 (also available on-line http://www.business.uts.edu.au/qfrc/research/rp2003.html).

Submitted papers and work in progress

· P. De Grauwe, R. Dieci, M. Grimaldi: “Fundamental and non-fundamental equilibria in the foreign exchange market: a behavioural finance framework”

· A. Agliari, R. Dieci: “Coexistence of attractors and homoclinic loops in a Kaldor-like business cycle model”

· Agliari, G.I. Bischi, R. Dieci, L. Gardini: “Homoclinic tangles associated with closed invariant curves in families of 2D maps”

· R. Dieci, F. H. Westerhoff: “Interacting cobweb markets”

· C. Chiarella, R. Dieci, L. Gardini, L. Sbragia: “A dynamic asset pricing model with rational fundamentalists and trend chasing chartists”

Conference papers and presentations

· R. Dieci, F. H. Westerhoff, “Interacting cobweb markets”. International Conference on Nonlinear Economic Dynamics (NED 05), Urbino, July 28-30, 2005.

· R. Dieci, S. Sordi, A. Vercelli, “Financial fragility and complex dynamics: analyzing the impact of stabilizing policy measures”, International Conference on Policy Modeling (EcoMod 2005), Istanbul, 29 June – 1 July 2005 (presented by S. Sordi)

· P. De Grauwe, R. Dieci, M. Grimaldi, “Bubbles and crashes in the foreign exchange market: a behavioural finance framework”. International Workshop on Complexity and Randomness in Economic Dynamical Systems ( CREDS 2005), Bielefeld, Germany, March 17-19, 2005.

· C. Chiarella, R. Dieci e X.-Z. He, “Heterogeneous Expectations and Speculative Behavior in a Multi-Asset Dynamic Framework”. Workshop “Volatility of financial markets: theoretical models, forecasting and trading”, Lorentz Center, Universiteit Leiden, October 18-29, 2004 (presented by C. Chiarella)

· C. Chiarella, R. Dieci, L. Gardini, “Asset price and wealth dynamics under heterogeneous beliefs”. Workshop MDEF 2004, Urbino, September 16-18, 2004.

· P. De Grauwe, R. Dieci, M. Grimaldi, “Asset price bubbles: rational or behavioural?”. Workshop MDEF 2004, Urbino, September 16-18, 2004.

· C. Chiarella, R. Dieci, X.-Z. He, “Heterogeneous Expectations and Speculative Behavior in a Multi-Asset Dynamic Framework”, International Conference on Nonlinear Economic Dynamics (NED 04), Chuo University, Tokyo, July 29-31, 2004.

· A. Agliari, R. Dieci, L. Gardini, “Homoclinic Loops in a Kaldor-like Business Cycle Model”. International Conference on Nonlinear Economic Dynamics (NED 04), Chuo University, Tokyo, July 29-31, 2004 (presented by A. Agliari).

· C. Chiarella, R. Dieci, L. Gardini, “Heterogeneous Beliefs, Diversification and Dynamics of Asset Prices”. Workshop on Nonlinear Dynamics in Economics, Trieste, June 5-6, 2004.

· C. Chiarella, R. Dieci e X.-Z. He. “Multi-Asset Market Dynamics under Heterogeneous Expectations”, 9th Workshop on Economics and Heterogeneous Interacting Agents (WEHIA 2004), Kyoto, May 27-29, 2004.

· C. Chiarella, R. Dieci, L. Gardini, “A model of asset price dynamics and diversification with heterogeneous agents”. 8th Workshop on Economics and Heterogeneous Interacting Agents (WEHIA 2003), Kiel, Germania, May 29-31, 2003.

· C. Chiarella, R. Dieci, L. Gardini, “Asset price and wealth dynamics in a financial market with heterogeneous agents”. 8th Viennese Workshop on Optimal Control, Dynamic Games and Nonlinear Dynamics: Theory and Applications in Economics and OR/MS, Vienna , May 14-16, 2003.

Coauthors

Anna Agliari, Università Cattolica, Piacenza (Italy)

Gian Italo Bischi, Università di Urbino (Italy)

Guido Candela, Università di Bologna (Italy)

Massimiliano Castellani, Università di Bologna (Italy)

Carl Chiarella, University of Technology, Sydney (Australia)

Maurizio Ciaschini, Università di Macerata (Italy)

Paul De Grauwe, K.U. Leuven (Belgium)

Ilaria Foroni, Università di Milano “Bicocca” (Italy)

Marcello Galeotti, Università di Firenze (Italy)

Laura Gardini, Università di Urbino (Italy)

Marianna Grimaldi, Sveriges Riksbank (Sweden)

Xue-Zhong (Tony) He, University of Technology, Sydney (Australia)

Giorgio Rodano, Università "La Sapienza", Roma (Italy)

Enrico Saltari, Università "La Sapienza", Roma (Italy)

Lucia Sbragia, Università di Urbino, Italy

Serena Sordi, Università di Siena, Italy

Alessandro Vercelli, Università di Siena, Italy

Frank H. Westerhoff, University of Osnabrueck, Germany