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Michalis works as a Senior Lecturer in Actuarial Science at the Faculty of Actuarial Science and Insurance (FASI), Cass Business School, City University London. In addition, Michalis also serves as an Adjunct Associate Professor in Management Science at the Department of Business and Management Science at the Norwegian School of Economics (NHH). He obtained a PhD in Statistics from University College London, an MSc in Statistics from Western Michigan University and a BSc in Mathematics from the University of Ioannina, Greece. In 2018, Michalis was awarded a Postgraduate Certificate of Learning and Teaching in Higher Education, and, in August 2018, he became a Fellow of the Higher Education Academy, UK.
His research is in Management and Actuarial science, specifically in statistics, operations research, industrial economics, game theory, real options and mathematical finance. In particular, he has worked on the application of statistical, mathematical finance and operations research methods for risk management and for analysing investment incentives under uncertainty. Currently, he is using predictive analytics, signal processing and real options to support decision making and risk management under uncertainty for investment and operations, research and development (R&D) programmes in alternative energy technologies, and demand-side management.
Previously, he was involved with the NRC project in Bergen, Norway, which sought to develop analytical and empirical methods for decision making under uncertainty and risk assessment, relevant for financial, economic and environmental problems. His most recent research roles include: P.I. of H2020 SPIDER project on econometric models for risk assessment and optimal methods for cybersecurity investments to protect 5G infrastructures.
- Postgraduate Certificate in Learning and Teaching in Higher Education (PGCert), University of Brighton, Jun 2018
- PhD in Statistics, University College London, United Kingdom
- MSc in Statistics, Western Michigan University, United States
- BSc in Mathematics, University of Ioannina, Greece
- Senior Lecturer in Actuarial Science, City, University of London, Sep 2018 – present
- Senior Lecturer in Mathematical Sciences, University of Brighton, Sep 2015 – Aug 2018
- Adj. Associate Professor in Management Science, Norwegian School of Economics, Aug 2015 – present
- Assistant Professor in Management Science, Norwegian School of Economics, Sep 2012 – Aug 2015
Memberships of professional organisations
- Fellow, Higher Education Academy
- Management Science
- Operations Research
- Quantitative Finance
- Risk Modelling
Enhancement of capital budgeting models to allow for risk aversion, thus facilitating the development of advanced risk-management methods for complex investment opportunities associated with R&D, infrastructure projects, transportation, information technologies and emerging markets.
Advancement and application of state-of-the-art, agent-based simulation and econometric techniques, used to model energy prices, forecast demand, optimise risk management and understand investment drivers for green growth under imperfect competition.
Development of cutting-edge, decision-making frameworks based on methods of mathematical finance to support policy-makers, organisations and relevant stakeholders in making cybersecurity
investment decisions that ensure the resilience of sectors such as healthcare, energy and IT.
Attendance: Sep 2019 – present, full-time
Role: 1st Supervisor
Lars Hegnes Sendstad
Thesis title: Essays on Investments in Emerging Technologies: A Real Option Approach
Role: 2nd Supervisor
Journal articles (13)
- Sendstad, L.H. and Chronopoulos, M. (2020). Sequential investment in renewable energy technologies under policy uncertainty. Energy Policy, 137. doi:10.1016/j.enpol.2019.111152.
- Sendstad, L.H. and Chronopoulos, M. (2020). Strategic technology switching under risk aversion and uncertainty. Journal of Economic Dynamics and Control. doi:10.1016/j.jedc.2020.103918.
- Chronopoulos, M., Panaousis, E. and Grossklags, J. (2017). An Options Approach to Cybersecurity Investment. IEEE Access, 6, pp. 12175–12186. doi:10.1109/ACCESS.2017.2773366.
- Chronopoulos, M., Hagspiel, V. and Fleten, S.E. (2017). Stepwise investment and capacity sizing under uncertainty. OR Spectrum, 39(2), pp. 447–472. doi:10.1007/s00291-016-0460-0.
- Chronopoulos, M. and Lumbreras, S. (2017). Optimal regime switching under risk aversion and uncertainty. European Journal of Operational Research, 256(2), pp. 543–555. doi:10.1016/j.ejor.2016.06.027.
- Chronopoulos, M., Hagspiel, V. and Fleten, S.E. (2016). Stepwise green investment under policy uncertainty. Energy Journal, 37(4), pp. 87–108. doi:10.5547/01956574.37.4.mchr.
- Blyth, W., Bunn, D., Chronopoulos, M. and Munoz, J. (2016). Systematic analysis of the evolution of electricity and carbon markets under deep decarbonization. Journal of Energy Markets, 9(3), pp. 59–94. doi:10.21314/JEM.2016.150.
- Lumbreras, S., Bunn, D.W., Ramos, A. and Chronopoulos, M. (2016). Real options valuation applied to transmission expansion planning. Quantitative Finance, 16(2), pp. 231–246. doi:10.1080/14697688.2015.1114362.
- Chronopoulos, M. and Siddiqui, A. (2015). When is it better to wait for a new version? Optimal replacement of an emerging technology under uncertainty. Annals of Operations Research, 235(1), pp. 177–201. doi:10.1007/s10479-015-2010-6.
- Chronopoulos, M., De Reyck, B. and Siddiqui, A. (2014). Duopolistic competition under risk aversion and uncertainty. European Journal of Operational Research, 236(2), pp. 643–656. doi:10.1016/j.ejor.2014.01.018.
- Chronopoulos, M., Bunn, D. and Siddiqui, A. (2014). Optionality and policymaking in re-transforming the British power market. Economics of Energy and Environmental Policy, 3(2), pp. 79–100. doi:10.5547/2160-5890.3.2.mchr.
- Chronopoulos, M., De Reyck, B. and Siddiqui, A. (2013). The value of capacity sizing under risk aversion and operational flexibility. IEEE Transactions on Engineering Management, 60(2), pp. 272–288. doi:10.1109/TEM.2012.2211363.
- Chronopoulos, M., De Reyck, B. and Siddiqui, A. (2011). Optimal investment under operational flexibility, risk aversion, and uncertainty. European Journal of Operational Research, 213(1), pp. 221–237. doi:10.1016/j.ejor.2011.03.007.