This National Science Foundation Project Grant of $568,493 will support research at Northwestern University from April 1, 2022 to March 31, 2027 under the Engineering (47.041) federal grant program. The research will develop a comprehensive theoretical framework for analyzing rare catastrophic events driven by heavy-tailed distributions, which can model disparate phenomena like pandemics, blackouts, and financial crises. The framework will extend techniques in extreme value theory, optimization, control, and stochastic simulation to enable more robust modeling and risk management of systems subject to potential high-impact failures. This includes applications in actuarial science and ensuring accountable and reliable artificial intelligence applicable to high-risk decision making. The award will also support related education efforts to broaden participation in science, technology, engineering, and mathematics fields.
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