Associate Professor

Telephone: 010-82541622

Research Areas

Financial Engineering and Risk Management, Operation Management, Decision Science, Engineering Management


2000-2003, Ph.D. in Management Science and Engineering, Academy of Mathematics and Systems Science, CAS

1997-2000, Master of Science, Operation Research, Shandong University

1993-1997, Bachelor of Science, Operation Research, Shandong University


2003.10-2004.9, 21COE Research Follow, Kyoto University

2003.7-Now,  Academy of Mathematics and Systems Science, CAS

Honors & Distinctions

2019, Excellent Paper award of Youth System Engineering and Management Science Annual Meeting

2017, Excellent Paper Award of Management Science Annual Conference

2012, Second Prize of Humanities and Social Sciences in Shandong Province


[1] Zhao, Daping, Bai, Lin, Fang, Yong, Wang, Shouyang. Multi-period portfolio selection with investor views based on scenario tree. Applied Mathematics and Computation[J]. 2022, 418(1): 126813.

[2] Li, HongQuan, Yi, ZhiHong, Fang, Yong. Portfolio selection under uncertainty by the ordered modular average operator. Fuzzy Optimization and Decision Making[J]. 2019, 18(1): 1-14.

[3] Chen, Xi, Wang, Zongrun, Deng, Songhai, Fang, Yong. Risk Measure Optimization: Perceived Risk And Overconfidence Of Structured Product Investors. Journal of Industrial And Management Optimization. 2019, 15(3): 1473-1492.

[4] Fang, Yong, Bo, Lin, Zhao, Daping, Wang, Shouyang. Fuzzy Views on Black-Litterman Portfolio Selection Model. Journal of Systems Science & Complexity[J]. 2018, 31(4): 975-987.

[5] Daping Zhao and Yong Fang,Representation Bias, Return Forecast, and Portfolio Selection in the Stock Market of China,Mathematical Problems in Engineering,Volume 2014, Article ID 686201, 8 pages,

[6]  Jifa Gu, Shanying Xu, Yong Fang, et al., Three aspects on solving queuing service system in Shanghai World Expo, Journal of Systems Science and Systems Engineering, 22(3), pp 340-361, 2013.

[7]  Daping Zhao, Yong Fang, Can representation bias help the returns forecast and portfolio selection, Procedia Computer Science, Vol.17, pp 603-610, 2013.

[8] Yong Fang, Lihua Chen, Masao Fukushima, A mixed R&D projects and securities portfolio selection model, European Journal of Operational Research, Vol. 185, pp.700-715, 2008.

[9] Fang, Y., Lai, K.K. and Wang, S.Y., Portfolio rebalancing models with transaction costs based on the fuzzy decision theory, European Journal of Operational Research, Vol. 175, Issue 2, pp.879-893, 2006.

[10] Fang, Y., Lai, K.K. and Wang, S.Y., Portfolio rebalancing with transaction costs and a minimal purchase unit, Dynamics of Continuous, Discrete and Impulsive Systems, Series B (Algorithm and Applications), Vol. 12, No. 3, pp. 499-515, 2005.

[11] Lai, K.K., Wang, S.Y., Xu, J.P., Zhu, S.S. and Fang Y., A class of linear interval programming problems and its application to portfolio selection, IEEE Transactions on Fuzzy Systems, Vol. 10, No. 6, pp. 698-704, 2002.