An intelligent machine modelling assistant for combinatorial optimisation. This project aims to discover key fundamental technologies for automating assistance to non-expert users in the formulation of mathematical models. Through automating the modelling of combinatorial optimization problems, this research will generate new knowledge to address the fundamental challenges of automatic mathematical modelling. This intelligent assistant will enable synthesis of new mathematical models through th ....An intelligent machine modelling assistant for combinatorial optimisation. This project aims to discover key fundamental technologies for automating assistance to non-expert users in the formulation of mathematical models. Through automating the modelling of combinatorial optimization problems, this research will generate new knowledge to address the fundamental challenges of automatic mathematical modelling. This intelligent assistant will enable synthesis of new mathematical models through the utilisation of pioneering natural language processing components and novel custom-made machine-readable knowledge bases. The outcome of this research will broaden access to high-quality models by non-expert workforce and alleviate the shortage of expert mathematicians, bringing significant social and economic benefits.Read moreRead less
Quantitative and qualitative aspects of Asian and Australian options. While Asian options are highly popular and traded over the counter all over the world, they are traded on an institutional basis in only very few countries. Australia is one of them. Variable purchase options (VPO's), where the payoff is determined by the quotient of a stock and its average price, are traded on the Australian stock exchange since 1992. They build an important component of the Australian derivatives market and ....Quantitative and qualitative aspects of Asian and Australian options. While Asian options are highly popular and traded over the counter all over the world, they are traded on an institutional basis in only very few countries. Australia is one of them. Variable purchase options (VPO's), where the payoff is determined by the quotient of a stock and its average price, are traded on the Australian stock exchange since 1992. They build an important component of the Australian derivatives market and are particularly interesting for foreign investors, who are not able to find this sort of financial product on their domestic markets. A better understanding of these products is necessary to maximize the benefits for Australia's financial markets and economy. Read moreRead less
Decomposition and Duality: New Approaches to Integer and Stochastic Integer Programming. Because of their rich modelling capabilities, integer programs are widely used in industry for decision making and planning. However their solution algorithms do not have the maturity of their cousins in convex optimisation, where the theory of strong duality is ubiquitous. Efficient methods for convex optimisation under uncertainty do not apply to the integer case, which is highly non-convex. Furthermore, i ....Decomposition and Duality: New Approaches to Integer and Stochastic Integer Programming. Because of their rich modelling capabilities, integer programs are widely used in industry for decision making and planning. However their solution algorithms do not have the maturity of their cousins in convex optimisation, where the theory of strong duality is ubiquitous. Efficient methods for convex optimisation under uncertainty do not apply to the integer case, which is highly non-convex. Furthermore, integer models usually assume the data is known with certainty, which is often not the case in the real world. This project will develop new theory and algorithms to enhance the analysis of integer models, including those that incorporating uncertainty, while also enabling the use of parallel computing paradigms. Read moreRead less
New theory and methods for robust global optimisation: modern decision-making under uncertain conditions. The project will produce enhanced optimisation methodologies for solving a wide range of industrial and scientific problems that are affected by data uncertainty and are currently too complex to be solved. The work has the potential to improve the quality and the performance of various Australian industries and many areas of scientific research.
Switching Dynamics Approach for Distributed Global Optimisation . This project aims to create a breakthrough switching dynamics approach and new technology to speed up finding optimal solutions. It will develop a distributed switching dynamics based optimisation scheme for global optimisation problems in industrial big-data environments where timely decision making is required. It will result in a practical technology for industry optimisation problems such as economic energy dispatch in smart g ....Switching Dynamics Approach for Distributed Global Optimisation . This project aims to create a breakthrough switching dynamics approach and new technology to speed up finding optimal solutions. It will develop a distributed switching dynamics based optimisation scheme for global optimisation problems in industrial big-data environments where timely decision making is required. It will result in a practical technology for industry optimisation problems such as economic energy dispatch in smart grids and optimal charging and discharging tasks in a large network of electric vehicles, helping Australian power industry improve efficiency and security, as well as training the next generation scientists and engineers for Australia in this emerging field.Read moreRead less
New Theory and Algorithms for Nonsmooth Optimisation with Application to Integer Programming. Mathematical optimisation plays a key role in a wide variety of applications in business, industry, engineering and science. For example, airlines cannot fly and radiation treatment for cancer cannot be delivered without solving (a series of) optimisation problems. Some classes of optimisation problem are very well solved, with clear mathematical foundations, efficient algorithms, and reliable software ....New Theory and Algorithms for Nonsmooth Optimisation with Application to Integer Programming. Mathematical optimisation plays a key role in a wide variety of applications in business, industry, engineering and science. For example, airlines cannot fly and radiation treatment for cancer cannot be delivered without solving (a series of) optimisation problems. Some classes of optimisation problem are very well solved, with clear mathematical foundations, efficient algorithms, and reliable software implementations. Both nonsmooth and integer optimisation problems have a good mathematical basis, but there are "gaps"; existing methods cannot always solve real industrial problems. This project will deliver better methods, built on better theory, and so will yield better solutions for important applications.Read moreRead less
Determining features that separate groups of protein sequences. This project aims to develop mathematical approaches for determining features that distinguish one group of proteins from another, based on their amino acid sequences. The groups of sequences will reflect different outcomes, so that identifying the fundamental features can result in targeted interventions against the poorer outcome. A simple comparison at each position or of known features can fail to determine robust differentiator ....Determining features that separate groups of protein sequences. This project aims to develop mathematical approaches for determining features that distinguish one group of proteins from another, based on their amino acid sequences. The groups of sequences will reflect different outcomes, so that identifying the fundamental features can result in targeted interventions against the poorer outcome. A simple comparison at each position or of known features can fail to determine robust differentiators and so more complex methods are required. The project will, for example, help identify HIV vaccine targets by comparing early HIV transmission sequences from those in chronic infection. The methods will be applicable to viral proteins where high mutation rates make this task even more complex.Read moreRead less
Large Markov decision processes and combinatorial optimisation. Markov decision processes continue to gain in popularity for modelling a wide range of applications ranging from analysis of supply chains and queueing networks to cognitive science and control of autonomous vehicles. Nonetheless, they tend to become numerically intractable as the size of the model grows fast. Recent works use machine learning techniques to overcome this crucial issue, but with no convergence guarantee. This project ....Large Markov decision processes and combinatorial optimisation. Markov decision processes continue to gain in popularity for modelling a wide range of applications ranging from analysis of supply chains and queueing networks to cognitive science and control of autonomous vehicles. Nonetheless, they tend to become numerically intractable as the size of the model grows fast. Recent works use machine learning techniques to overcome this crucial issue, but with no convergence guarantee. This project aims to provide theoretically sound frameworks for solving large Markov decision processes, and exploit them to solve important combinatorial optimisation problems. This timely project can promote Australia's position in the development of such novel frameworks for many scientific and industrial applications.Read moreRead less
Understanding participant behaviour in wholesale electricity markets. Wholesale electricity spot markets now operate in many countries including Australia. The aim of this research project is to achieve a better understanding of the operation of electricity markets, through advancing our understanding of how the physical system, the industry structure, the market mechanism and the behaviour of the market participants jointly determine the overall system outcomes. A particular focus of the resear ....Understanding participant behaviour in wholesale electricity markets. Wholesale electricity spot markets now operate in many countries including Australia. The aim of this research project is to achieve a better understanding of the operation of electricity markets, through advancing our understanding of how the physical system, the industry structure, the market mechanism and the behaviour of the market participants jointly determine the overall system outcomes. A particular focus of the research is on competition within the market. We want to understand the ways in which market structure influences participant behaviour and, in particular, the circumstances that lead to non-competitive outcomes.Read moreRead less
Data-Driven Multistage Robust Optimization—the New Frontier in Optimization. Robust optimisation is a powerful technology for decision-making in uncertain environments. Yet, developing numerically certifiable optimisation principles and data-driven methods that can be readily implemented by common computer algorithms remains an elusive goal for multistage robust optimisation. But it is crucial for the practical use of multistage optimisation. This project aims to develop this novel mathematical ....Data-Driven Multistage Robust Optimization—the New Frontier in Optimization. Robust optimisation is a powerful technology for decision-making in uncertain environments. Yet, developing numerically certifiable optimisation principles and data-driven methods that can be readily implemented by common computer algorithms remains an elusive goal for multistage robust optimisation. But it is crucial for the practical use of multistage optimisation. This project aims to develop this novel mathematical theory and methods by extending the investigators' recent award winning advances, including the von Neumann-prizewinning Lasserre-hierarchy approach. Results will provide a foundation and technologies for making superior decisions in the pervasive presence of big data uncertainty, enhancing data-driven innovation in AustraliaRead moreRead less