Developing a robust model for pricing inter-related volatility-based financial derivative contracts. Volatility-based financial contracts were developed in the late 1990s to provide an easy way for investors to gain exposure to the future level of volatility and thus provide a means by which they could speculate on its future levels and also hedge unpredictable volatility risk. This would potentially save them from losing vast quantities of money. However these products can only be efficient pr ....Developing a robust model for pricing inter-related volatility-based financial derivative contracts. Volatility-based financial contracts were developed in the late 1990s to provide an easy way for investors to gain exposure to the future level of volatility and thus provide a means by which they could speculate on its future levels and also hedge unpredictable volatility risk. This would potentially save them from losing vast quantities of money. However these products can only be efficient products for trading and risk management if they are priced correctly. This project will benefit investors by providing empirically viable models that will be able to be easily implemented to provide accurate and fast pricing solutions.Read moreRead less
Multi-Group Stochastic Modelling of Population Balance for Gas-Liquid Flows. Multiphase flow systems are encountered in many process industries such as chemical, petroleum, mining, nuclear, energy, food and pharmaceutical, which are fundamental to the Australian economy. Commercially available computer codes for simulating such systems are currently widely used in many Australian industrial sectors. This research project will address the prevalent deficiency in many of these computer codes and ....Multi-Group Stochastic Modelling of Population Balance for Gas-Liquid Flows. Multiphase flow systems are encountered in many process industries such as chemical, petroleum, mining, nuclear, energy, food and pharmaceutical, which are fundamental to the Australian economy. Commercially available computer codes for simulating such systems are currently widely used in many Australian industrial sectors. This research project will address the prevalent deficiency in many of these computer codes and develop new models capable of predicting a wide range of industrial bubbly flow problems. The resultant improved computer codes will provide industries with significant benefits and, in particular, reduce times and costs in their design and production. Read moreRead less
Multiscale stochastic modelling of genetic regulatory mechanisms. The completion of the human genome marked the culmination of one hundred years of reductionist science in cell biology. Although further bioinformatics analysis will continue, the focus is shifting towards synthesis and understanding how the regulatory genetic components dynamically interact to form functional phenotypes. The key to this is the understanding of the roles of stochasticity in cellular processes. This project will ex ....Multiscale stochastic modelling of genetic regulatory mechanisms. The completion of the human genome marked the culmination of one hundred years of reductionist science in cell biology. Although further bioinformatics analysis will continue, the focus is shifting towards synthesis and understanding how the regulatory genetic components dynamically interact to form functional phenotypes. The key to this is the understanding of the roles of stochasticity in cellular processes. This project will explore these roles and will develop an integrated complex systems modelling, simulation and visualisation framework for exploring and validating genetic regulatory models in general. This will be used on an exemplar application for understanding the induction process in lambda phage.Read moreRead less
Stochastic Modelling of Genetic Regulatory Networks: Subtitle - Genetic Regulation is a Noisy Business. The completion of the human genome marked the culmination of one hundred years of reductionist science in cell biology. Although further bioinformatics analysis will continue, the focus is shifting towards synthesis and understanding how the regulatory genetic components dynamically interact to form functional phenotypes. The key to this is the understanding of the roles of stochasticity in ....Stochastic Modelling of Genetic Regulatory Networks: Subtitle - Genetic Regulation is a Noisy Business. The completion of the human genome marked the culmination of one hundred years of reductionist science in cell biology. Although further bioinformatics analysis will continue, the focus is shifting towards synthesis and understanding how the regulatory genetic components dynamically interact to form functional phenotypes. The key to this is the understanding of the roles of stochasticity in cellular processes. This project will explore these roles and will develop an integrated complex systems modelling, simulation and visualisation framework. This will be used on an exemplar application for lineage commitment in haematopoiesis and for exploring and validating genetic regulatory models in general.Read moreRead less
Option pricing via path integrals: a new perspective. The risk management of derivative securities is a very exciting challenge for financial market researchers. The knowledge base resulting from this proposal will benefit both large financial institutions and Australia's financial system by creating a more competitive and efficient economic environment, which will inevitably lead to more gross domestic product (GDP) gains.Furthermore a large amount of software and numerical analysis work to be ....Option pricing via path integrals: a new perspective. The risk management of derivative securities is a very exciting challenge for financial market researchers. The knowledge base resulting from this proposal will benefit both large financial institutions and Australia's financial system by creating a more competitive and efficient economic environment, which will inevitably lead to more gross domestic product (GDP) gains.Furthermore a large amount of software and numerical analysis work to be developed during the project can be turned into IP for Australia. This will contribute to catalysing development of internationally competitive financial risk management software industry.Read moreRead less
Innovative Methods for Very High Dimensional Problems. Real world problems tend to involve an enormous number of variables. This "curse of dimensionality" poses great difficulty in application areas such as statistics, finance, economics, and physics. These high dimensional problems are not confined to Australia, and there is great demand worldwide for effective and efficient methods to tackle these problems. The novel methods developed here will lead to improvements in prevailing computational ....Innovative Methods for Very High Dimensional Problems. Real world problems tend to involve an enormous number of variables. This "curse of dimensionality" poses great difficulty in application areas such as statistics, finance, economics, and physics. These high dimensional problems are not confined to Australia, and there is great demand worldwide for effective and efficient methods to tackle these problems. The novel methods developed here will lead to improvements in prevailing computational technologies, which will help to enhance Australia's reputation as a leading scientific innovator. The international collaborations will increase the research output of the country, build up the knowledge base in the discipline, draw international interest, and initiate linkages.Read moreRead less