dr. B. Roorda (Berend)

Associate Professor

About Me

Berend Roorda graduated in Mathematics at the University of Groningen in 1989, after which he spent a year at the PTT Research Telematics Laboratory in Groningen. In 1995 he obtained his PhD in Econometrics at the Tinbergen Institute, Erasmus University Rotterdam. He held a post-doc position at Groningen University, sponsored by the Dutch Institute for Systems and Control. He was affiliated with the department of Econometrics of Tilburg University from 1996 to 2001, mainly as post-doc for a project on model uncertainty of dynamical models in economics. Since September 2001, he is at the University of Twente.


Business & Economics
Evolutionarily Stable Strategy
Fixed Point
Prospect Theory
Rational Choice
Value At Risk


I focus on value, risk and time in decision making:

  • discounted cash flow methods for projects and firms, as in Corporate Finance and Management Accounting
  • valuation of derivatives and (real) options, as in Financial Engineering and Financial Mathematics
  • measurement of extreme risk, and its application in the financial sector, as in BIS and Solvency regulation  
  • behavioral aspects of decision making under uncertainty, as in e.g. Prospect Theory
  • rationality in game theory, without sub-game perfectness. 

Key points of my current research:

  • axiomatic frameworks for non-recursive valuation, with a normative interpretation
  • models for value and risk in which local (stepwise) properties no longer dictate the long-term features 
  • reconciliation of the impact of long- and short-term risk on value, by an extended form of Dynamic Programming
  • fixed point updating as a simple universal update principle without reference to probability or utility, including Bayesian updating as special case.

UT Research Information System

Courses Academic Year  2023/2024

Courses in the current academic year are added at the moment they are finalised in the Osiris system. Therefore it is possible that the list is not yet complete for the whole academic year.

Courses Academic Year  2022/2023

Contact Details

Visiting Address

University of Twente
Faculty of Behavioural, Management and Social Sciences
Ravelijn (building no. 10), room 3349
Hallenweg 17
7522NH  Enschede
The Netherlands

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Mailing Address

University of Twente
Faculty of Behavioural, Management and Social Sciences
Ravelijn  3349
P.O. Box 217
7500 AE Enschede
The Netherlands