The ForMaRE Project - Formal Mathematical Reasoning in Economics

TL;DR

The ForMaRE project integrates formal mathematical reasoning into economics to enhance confidence, discover new results, and promote formal methods among economists, focusing on game theory, auctions, matching, and financial risk.

Contribution

It introduces formal methods into economics, provides user feedback, develops formalization toolboxes, and fosters community engagement between economists and formal methods researchers.

Findings

Extended game theory studies with formal methods

Developed formalization toolbox for auctions

Initiated formal analysis of matching and financial risk

Abstract

The ForMaRE project applies formal mathematical reasoning to economics. We seek to increase confidence in economics' theoretical results, to aid in discovering new results, and to foster interest in formal methods, i.e. computer-aided reasoning, within economics. To formal methods, we seek to contribute user experience feedback from new audiences, as well as new challenge problems. In the first project year, we continued earlier game theory studies but then focused on auctions, where we are building a toolbox of formalisations, and have started to study matching and financial risk. In parallel to conducting research that connects economics and formal methods, we organise events and provide infrastructure to connect both communities, from fostering mutual awareness to targeted matchmaking. These efforts extend beyond economics, towards generally enabling domain experts to use mechanised reasoning.