Giray Ökten received an undergraduate degree in Mathematics from Bogazici University, Turkey, in 1991, a Master's in 1994, and a PhD in Mathematics in 1997 from Claremont Graduate University, California. He joined Florida State University in 2005 and served as Director of Financial Mathematics from 2008 to 2012, and Associate Chair for Graduate Studies from 2012 to 2015.

Prof. Ökten is interested in the theory of Monte Carlo and quasi-Monte Carlo methods, and computational finance. Monte Carlo methods are numerical tools that are used in sciences and engineering. They use random numbers to simulate a complex system, and the result of the simulation gives an approximate answer to the problem at hand. Quasi-Monte Carlo methods, on the other hand, try to solve similar problems as Monte Carlo, but with one important difference: quasi-Monte Carlo methods use some deterministically generated sequences, called low-discrepancy sequences, instead of random numbers in simulation. Usually, the quasi-Monte Carlo method provides more accurate estimates than Monte Carlo, however, it has its own limitations.

A substantial part of Dr. Ökten's research lies in the development of Monte Carlo algorithms, and the development of hybrid sequences that combine random and low-discrepancy sequences, in order to get the best features of Monte Carlo and quasi-Monte Carlo worlds. An example of such hybrid methods is the "mixed sequence", where a low-discrepancy sequence is concatenated with a random sequence. Another hybrid method is the development of the sequence "rasrap". Dr. Ökten has also published some papers in parallel (randomized) quasi-Monte Carlo sequences, and applications in engineering.

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