Background and activities

Doctor of Philosopy (PhD) degree (2017-    ): 

Master of Science (MSc) degree (2013-2016): Applied Mathematics / Financial Mathematics from Institue of Applied Mathematics / Middle East Technical University (METU)-Ankara/Turkey.

Master Thesis topic: Robust Conditional Value-at-Risk Under Parallelepiped Uncertainty: An Application to Portfolio Optimization.

Bachelor of Science (BSc) degree (2008-2013): Industrial Engineering from Engineering Faculty / Gazi University-Ankara/Turkey. 

Scientific Work Experience (May 2015 – October 2016): Financial Mathematician–Research Project Member:

During my Master study, I was involved and worked as a research project member in Republic of Turkey, Ministry of Energy and Natural Resources for a TUBITAK 1001 project: "Financial Modeling of Hourly Day Ahead Electricity Prices: A Case of Turkey".

This project is a peer reviewed by the Scientific and Technological Research Council of Turkey (TUBİTAK). The main aim of the project was understanding behaviours of market participants in Turkish Electricity Market and obtaining meaningful financial and econometrical models for price and load forecasts.

Currently I am doing my PhD in Department of Industrial Economics and Technology Management in Norwegian University of Science and Technology, Trondheim, Norway. 

My research project and thesis includes stochastic optimization, energy systems, energy markets and demand side flexibility in these markets.

Since I have Engineering and Applied Mathematics background, my research interests are distributed among this two scientific areas (but not limited).

Briefly I am interesting in:

  • Optimization (mostly Stochastic Optimization and its applications)
  • Operations Research
  • Energy Systems and Markets
  • Risk Management in Financial and Energy Markets
  • Forecasting

Scientific, academic and artistic work

Displaying a selection of activities. See all publications in the database

Journal publications


  • Hackett, Stian Blackstad; Kvaal, Bernhard; Runnerstrøm, Magnus Fure; Grøttum, Hanne Høie; Økstad, Nina; Livik, Klaus; Danielsen, Stein; Wright, Stephen John; van Vuuren, L. M.; Stewart, Dudley; Antolic, Mladen; Backe, Stian; Kara, Güray; Granado, Pedro Crespo Del; Fossum, Morten Einar Nyrø; Lauvland, Marius; Frøyen, Hans Erik Fylling; Helde, Joakim; Skoglund, Tor Rune; Eljueidi, Mamdouh. (2019) D2.3: Report on the Flexibility Market. 2019.


  • Kara, Güray. (2019) Nettet kan driftes bedre. Energiteknikk [Fagblad]. 2019-12-01.