Professor Emmanuel Haven

ProfessorEmmanuel Haven

Contact Details

  • Tel: +44 (0) 116 252 3955
  • Email:
  • Office: Room 612, Level 6, Ken Edwards Building
  • Office Hours: Monday 10:00am - 12:00noon


Emmanuel is an Associate College member of the EPSRC (Engineering and Physical Sciences Research Council) Peer Review College. He is a member of the ESRC (Economic & Social Research Council) Peer Review College. He has refereed for the National Science Foundation (NSF-USA); the Leverhulme Trust; and the FWO (Belgium).

He is a member of The Association of Business Schools (ABS) Programmes Steering Committee. He is director of the Institute of Finance and is a co-editor for 'Economics - The Open-Access, Open-Assessment E-Journal'.

Emmanuel does research on how concepts from physics can be used in the social sciences (mainly economics and finance). Together with Dr Sandro Sozzo he created the new 'Institute for Quantum Social and Cognitive Science (IQSCS)' He is a member of the board of the International Center for Mathematical Modelling (ICMM) at Linnaeus University (Sweden). He also is a researcher at the ‘Leicester Judgment and Decision Making Research Group.' He also is a member of the ‘Purdue Research Center "Probability and Contextuality Across Disciplines’, at Purdue University, USA.

He also has an interest in other interdisciplinary applications. His social science publications have appeared (amongst others) in the Journal of Mathematical Psychology and the Journal of Economic Dynamics and Control. His physics based  publications have appeared (amongst others) in Foundations of Physics; International Journal of Theoretical Physics and Physica Scripta.

Emmanuel was nominated for the 'I love my Academic Award' by the Students' Union. He also received both in 2013 and in 2014 a Superstar Award by the Students' Union for his teaching.

Together with Dr Fethi and Professors Phil Molyneux (Bangor); John Wilson (St. Andrews University) and Sergei Fedotov (University of Manchester), an ESRC seminar grant was won on the topic of: Financial Modelling Post 2008: Where Next? With Dideriek Aerts and Bart D’Hooghe, Emmanuel received funding of Euro 236,000 (approximatively £230,000 ($340,000) from the Fund for Scientific Research (FWO, Government of Flanders, Belgium) to test a general economic theory for financial option pricing based on the mathematical formalisms of quantum mechanics. Together with Dr Caraini, Emmanuel received funding from the British Academy (£7,000) to work on non-linear modelling of macroeconomic dynamics. With Dr Hiromu Ishio, Emmanuel was awarded £3,000 from The Daiwa Anglo-Japanese Foundation for the funding of a reciprocal visit between Japan and the UK "to collaborate on research linking quantum physics and finance leading to a new joint project in financial engineering for practical application".

The 'Quantum Interaction 2013' conference was hosted at the University of Leicester on 25-27 July 2013. Derek Raine and Emmanuel Haven were the local chairs of this event.  The proceedings of accepted papers are published in the LNCS (Springer).

Emmanuel was also co-organiser with Andrei Khrennikov and Jerome Busemeyer; Ehtibar Dzhafarov; Arkady Plotnitsky and Emmanuel Pothos of the conference 'Quantum Probability and the mathematical modelling of decision making' (9-11 March 2015). This event was financially supported by the 'Fields Institute' - University of Toronto.

Emmanuel was co-organizer (with Sandro Sozzo) of the Thirteenth Biennial IQSA Quantum Structures Conference (July 2016), at the University of Leicester.

Emmanuel was also co-organizer with Mike Oaksford (Birkbeck College) of the special invited symposium ‘Quantum Probability’ at the ICT conference (August 4-6 – 2016) at Brown University, Providence, USA

Emmanuel has been invited to give talks at the University of Oxford; University of California – Irvine (USA); Purdue University (USA) (in the ‘Winer memorial lectures’); Imperial College; City University (London); Durham University; University of Essex; Aston University; Brunel University; Romanian Academy (Institute for Economic Forecasting); University of Northern Arizona (USA); Fudan University (Shanghai, China); University of Nottingham (Ningbo, China) and other universities.

Research Interests

Applications of physics concepts in social science; applications of wavelet analysis; uses of differential equations in economics and finance

PhD Supervision

Emmanuel would be interested in supervising PhD students in the following areas:

  • Interdisciplinary applications in economics and finance.

Emmanuel currently supervises the following research students: Dr Fan Li; Dr Michael Lau MD; Polina Khrennikova; Chen Shen; and Chan Wai.


Derivative Pricing I (BA Management Studies and BSc Accounting and Finance year three)

Derivative Pricing II (BA Management Studies  and BSc Accounting and Finance  year three)

Advanced Option Pricing  (BSc Accounting and Finance  year three)

Financial Market Products: Futures and Forwards (BSc Accounting and Finance year two)

Foundations of Financial Analysis and Investment (MSc Finance; MSc Accounting and Finance; MSc Management, Finance and Accounting)

Financial Option Pricing (MSc Finance)

Economics (MSc Actuarial Science, Department of Mathematics)

Quantum Finance and Social Sciences (Department of Physics and Astronomy)

Administrative Responsibilities

Division Head: Accounting and Finance

Programme Leader BSc Accounting and Finance (Year Two)


Main Books
Haven, E.; Khrennikov, A. (2017). The Palgrave Handbook of Quantum Models in Social Science. Palgrave MacMillan Handbook Series. Forthcoming.

Haven, E.; Khrennikov, A.; Robinson, T. (2017). A First Course in Applying Quantum Physics to Social Science. Imperial College Press. Forthcoming.

Haven, E.; Molyneux, Ph. ; Wilson, J.; Fedotov, S.; Duygun, M. (2016). The Handbook of Post Crisis Financial Modelling. Palgrave MacMillan Handbook Series. DOI: 10.1007/978-1-137-49449-8. 316 pages.

Haven, E.; Khrennikov, A. (2013). Quantum Social Science. Cambridge University Press – Cambridge (UK). 

d'Ariano, M.; Fei, S.M.; Haven, E.; Hiesmayr, B.;  Jaeger, G.; Khrennikov, A.; Larsson, J.A. (Editors) (2012) Foundations of Probability and Physics - 6; American Institute of Physics Proceedings; 1424.

Popular Media
Haven, E.; Khrennikov, A. (2013). How the rules of quantum mechanics can help make sense of complex social systems. New Scientist. July 6 Issue, 26-27.

Haven, E.; Khrennikov, A. (2013). Quantum mechanica en de sociale wetenschappen, New Scientist (Dutch Version). September 2013 Issue, 80-81.

Selected Refereed Journal Articles

Publications in Economics and Finance

Brandenburger, A.; Haven, E.; Khrennikov, A.; Ma, C.; Machina, M.; Sozzo, S. (2017). Quantum Probability Theory and its Economic Applications. Special Issue. Journal of Mathematical Economics. Forthcoming.

Haven, E.; Khrennikov, A. (2016). Statistical and subjective interpretations of probability in quantum-like models of cognition and decision making. Journal of Mathematical Psychology. Accepted. doi:10.1016/

Haven, E.; Khrennikov, A. (2016). The use of action functionals within the quantum-like paradigm. Journal of Mathematical Psychology. Accepted. 10.1016/

Haven, E., Sozzo, S. (2015). A Generalized Probability Framework to Model Economic Agents’ Decisions under Uncertainty. International Review of Financial Analysis. Forthcoming.

Haven, E.; Liu, X.; Shen, L. (2012). ‘De-noising Option Prices with the Wavelet Method’. European Journal of Operational Research, 222 (104-112).

Stradi, B.; Haven, E. (2010). ‘The use of interval arithmetic in solving a nonlinear rational expectation based multiperiod output-inflation process model: the case of the IN/GB method’. European Journal of Operational Research, 203 (1) (222-229).

Haven, E.; Ma, C. ; Liu, H.; Shen, L. (2009). ‘Revealing the implied risk-neutral MGF with the wavelet method’. Journal of Economic Dynamics and Control, 33 (3) (692-709).

Haven, E. (2008). ‘Private Information and the ‘Information function’’. Theory and Decision, 64 (2-3)( 193-228)/

Stradi, B. Haven, E. (2005). ‘Optimal Investment Strategy via Interval Arithmetic’. International Journal of Theoretical and Applied Finance, 8 (185-206).

Publications in Psychology

Dzhafarov, E; Haven, E., Khrennikov, A., Sozzo, S. (2016). Editors of the Special issue: ‘Quantum Theory: from Foundations to Technologies’. Journal of Mathematical Psychology. Forthcoming

Haven , E. (2015). Two Types of Potential Functions and their Use in the Modeling of Information: Two Applications from the Social Sciences. Frontiers in Psychology. Doi: 10.3389/fpsyg.2015.01513

Khrennikov, A.; Haven, E. (2009). ‘Quantum mechanics and violations of the sure-thing principle: the use of probability interference and other concepts’. Journal of Mathematical Psychology, 53 (5) (378-388)

Interdisciplinary Publications in Physics - Social Science

Haven, E. (2016). Links between fluid mechanics and quantum mechanics: a model for information in economics? Philosophical Transactions of the Royal Society A. In special Issue: “Quantum Foundations: information approach.” (G.M. d’Ariano and A. Khrennikov; Eds.). DOI: 10.1098/rsta.2015.0237

Haven ,E.; Sozzo, S. (2016). Editors of the Special Issue dedicated to the Thirteenth Biennial IQSA Quantum Structures Conference (July 2016), at the University of Leicester. International Journal of Theoretical Physics. Forthcoming

Bagarello, F. , Haven, E. (2016). First Results on Applying a non-linear Effect Formalism to Alliances between Political Parties and Buy and Sell Dynamics. Physica A, 444 (403-414)

Haven , E; Khrennikov, A. (2015). Editors of the special issue: ‘Selected Papers from the Fields Institute Conference ‘Quantum Probability and the Mathematical Modelling of Decision Making’’. The Royal Society. Philosophical Transactions A. Volume 374. Issue 2058. With an Editorial from David Garner, FRS – Editor-in-Chief of Philosophical Transactions of the Royal Society A.

Haven, E. Khrennikov, A. (2015). Editors of the Special Issue: ‘Applications of Quantum Mechanical Techniques to Areas Outside of Quantum Mechanics.’Frontiers in Physics.

Robinson, T., Haven, E. (2015), Quantization and quantum-like phenomena: a number amplitude approach. International Journal of Theoretical Physics, Doi: 10.1007/s10773-015-2726-8.

Bagarello, F.; Haven, E. (2015) ‘Towards a formalization of a two traders market with information exchange’. Physica Scripta. 90 015203. This article was chosen as an 'IOP Select Article'.

Haven, E. (2015). Potential functions and the characterization of economics-based information. Foundations of Physics, Doi: 10.1007/s10701-015-9931-4.

Caraini, P.; Haven, E. (2015) ‘Evidence of Multifractality from CEE Exchange Rates against Euro’. Physica A, 419 (395-407).

Khrennikova, P.; Haven, E; Khrennikov, A. (2014) ‘An application of the theory of open quantum systems to model the dynamics of party governance in the US Political System’. International Journal of Theoretical Physics, 53 (4) (1346-1360).

Bagarello, F.; Haven, E. (2014) ‘The role of information in a two traders market’. Physica A, 404 (224-233).

Caraiani, P.; Haven, E. (2013) ‘The role of recurrence plots in characterizing the output-unemployment relationship: an analysis’. PLoS ONE, 8(2): e56767-e56767. Doi: 10.1371/journal.pone.0056767.

Haven, E.; Khrennikov, A. (2013). ‘Quantum-Like Tunnelling and Levels of Arbitrage’. International Journal of Theoretical Physics, 52 (4083-4099).

Haven, E. (2011) ‘Ito’s Lemma with Quantum Calculus: Some Implications’. Foundations of Physics, 41(3),529-.

Aerts, D.; d’Hooghe, B.; Haven, E. (2010). ‘Quantum Experimental Data in Psychology and Economics.’ International Journal of Theoretical Physics, 49(12) (2971-2990).

Ishio, H.; Haven, E. (2009). ‘Information in asset pricing: a wave function approach’. Annalen der Physik, 18(1) (33-44).

Haven, E. (2008). ‘The Variation of Financial Arbitrage via the Use of an Information Wave Function’. International Journal of Theoretical Physics, 47 (193-199).

Haven, E. (2006). ‘Pilot-wave theory and financial option pricing’. International Journal of Theoretical Physics, 44 (11) (1957-1962).

Interdisciplinary Publications in Applied Mathematics - Social Science

Haven, E. (2010). ‘The Blackwell and Dubins Theorem and Rényi’s Amount of Information Measure: Some Applications’. Acta Applicandae Mathematicae, 109 (3) (743-757).

Haven, E. (2005). ‘Analytical solutions to the backward Kolmogorov PDE via an adiabatic approximation to the Schrödinger PDE’. Journal of Mathematical Analysis and Applications, 311 (439-444).

Haven, E. (2002). ‘Fuzzy Interval and Semi-Orders’. European Journal of Operational Research 139, 302-316.

Haven E. (2005). ‘Emergence of Fuzzy Preference for Risk in a Birkhoff-von Neumann Logics Environment’. Fuzzy Sets and Systems 153(1), 29-43.

Haven E. (2005). ‘The financial relevance of fuzzy stochastic dominance: a brief note’. Fuzzy Sets and Systems 152 (3), 467-473.

Other publications
Haven, E. (2015). Why would you want to borrow from my discipline? In: Contextuality from quantum physics to psychology. E. Dzhafarov; R. Zhang; S. Jordan; V. Cervantes Eds. World Scientific Publishers

Haven E. (2014). ‘Financial payoff functions and potentials’; Lecture Notes in Computer Science (Springer); forthcoming.

Busca, G.; Haven, E.; Jovanonic, F.; Schinckus, C. (2014). ‘The optimal hedge ratio in option pricing: the case of exponentially truncated Levy stable distribution’. Theoretical Economics Letters, 4 (760-766).

Rangacharyulu C.; Haven, E.; Juurlink, B. H.J. (Editors) (2012) Proceedings of the Second Interdisciplinary CHESS Interactions Conference (held at the University of Saskatchewan - Canada (September 2012) - Canada); World Scientific Publishers.

C. Rangacharyulu; E. Haven (Editors) (2010); Proceedings of the First Interdisciplinary CHESS Interactions Conference” (held at the University of Saskatchewan – Canada (August 2009) – Canada) ;  World Scientific Publishers.

Haven , E. (2009). ‘Quantum calculus (q-calculus) and option pricing: a brief introduction’; Lecture Notes in Computer Science (Springer); 5494; 308-314.

Haven, E. (1998). ‘Preliminary aspects on the development of a choice method for determining a best fitting dependent fuzzy transitivity definition’. Fuzzy Economic Review, 3 (59-78).

Haven, E. (1996). ‘The use of revealed preference in a fuzzy setting, some preliminary results’. Fuzzy Economic Review, 1 (55-73).



Share this page: