Stationarity and regularity in variational analysis with applications to optimization. This project will significantly develop the theoretical basis of variational analysis and optimization. Improving the understanding of regularity and stationarity issues in optimization theory will lead to major national benefits in increasing efficiencies and reducing costs in many fields of human endeavour on a national and international level.
Design and Construction Error Mitigation in Infrastructure Projects. Human errors committed during the design and construction process of infrastructure projects increase costs by as much as 25 per cent. The costs associated with such errors would be significantly higher in the event of an engineering failure and loss of life. This research will develop a model that can be used to mitigate errors and improve the performance and safety of infrastructure projects. A reduction in errors will reduce ....Design and Construction Error Mitigation in Infrastructure Projects. Human errors committed during the design and construction process of infrastructure projects increase costs by as much as 25 per cent. The costs associated with such errors would be significantly higher in the event of an engineering failure and loss of life. This research will develop a model that can be used to mitigate errors and improve the performance and safety of infrastructure projects. A reduction in errors will reduce the financial burden placed on taxpayers for cost overruns experienced as well as improve the profitability of organisations. This will lead to greater investment, and contribution to gross domestic product.Read moreRead less
Optimising progress towards elimination of malaria. The project aims to advance mathematical knowledge by developing novel tools appropriate for modelling disease elimination. We will apply these new mathematical tools to the significant problem of malaria elimination in Vietnam. The expected outcomes are new tools for modelling disease elimination on a fine spatial resolution with heterogeneities in individual patient characteristics, calibrating models to household level data on disease transm ....Optimising progress towards elimination of malaria. The project aims to advance mathematical knowledge by developing novel tools appropriate for modelling disease elimination. We will apply these new mathematical tools to the significant problem of malaria elimination in Vietnam. The expected outcomes are new tools for modelling disease elimination on a fine spatial resolution with heterogeneities in individual patient characteristics, calibrating models to household level data on disease transmission and designing intervention strategies for maximum effect on disease transmission. The innovative combination of modelling, inference and optimisation ensures that the mathematical methods developed will be broadly applicable to modelling elimination strategies for other infectious diseases.
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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
Risk and Reliability in Stochastic Optimisation and Equilibrium. This project seeks to develop theory and methodology in optimisation which take advantage of recent progress in understanding and treating risk in decision making. Problems of optimisation in the face of uncertainty must confront the risk inherent in having to make reliable decisions before knowing the outcomes of crucial random variables on which costs and constraints may depend. Recent theoretical developments, featuring ‘measure ....Risk and Reliability in Stochastic Optimisation and Equilibrium. This project seeks to develop theory and methodology in optimisation which take advantage of recent progress in understanding and treating risk in decision making. Problems of optimisation in the face of uncertainty must confront the risk inherent in having to make reliable decisions before knowing the outcomes of crucial random variables on which costs and constraints may depend. Recent theoretical developments, featuring ‘measures of risk’ beyond just-expected values and quantiles offer hope of major new advances. This project aims to achieve such advances not only in optimisation but also in models of equilibrium that likewise have to deal with uncertainty. Extending current theory and methodology to such multi-stage stochastic models is a challenge. Besides taking up this challenge for its own sake, a major goal of this research will be to use the results in solution algorithms.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
Large scale nonsmooth, nonconvex optimisation. This project aims to develop, analyse, test and apply (sub) gradient-based methods for solving large scale nonsmooth, nonconvex optimisation problems. Large scale problems with complex nonconvex objective and/or constraint functions are among the most difficult in optimisation. This project will generate new knowledge in numerical optimisation and machine learning. The use of structures and sparsity of large scale problems will lead to the developme ....Large scale nonsmooth, nonconvex optimisation. This project aims to develop, analyse, test and apply (sub) gradient-based methods for solving large scale nonsmooth, nonconvex optimisation problems. Large scale problems with complex nonconvex objective and/or constraint functions are among the most difficult in optimisation. This project will generate new knowledge in numerical optimisation and machine learning. The use of structures and sparsity of large scale problems will lead to the development of better models, and more accurate and robust methods. The expected outcomes of the project are ready-to-implement and apply numerical methods for solving large-scale, nonsmooth, nonconvex optimisation problems, as well as problems in machine learning and regression analysis.Read moreRead less
WaterLog - A mathematical model to implement recommendations of The Wentworth Group. In 2003, The Wentworth Group of Concerned Scientists released their 'Blueprint for a national water plan' with the primary objective to 'protect river health and the rights of all Australians to clean usable water'. Currently, there are significant water restrictions in all the Australian mainland capital cities. In January 2007, the Prime Minister of Australia, announced a bold plan to rescue the Murray-Darling ....WaterLog - A mathematical model to implement recommendations of The Wentworth Group. In 2003, The Wentworth Group of Concerned Scientists released their 'Blueprint for a national water plan' with the primary objective to 'protect river health and the rights of all Australians to clean usable water'. Currently, there are significant water restrictions in all the Australian mainland capital cities. In January 2007, the Prime Minister of Australia, announced a bold plan to rescue the Murray-Darling Basin. The plan incorporates political management changes, and an investment of $10Bn. Now is the time to develop improved techniques for management of water storage systems. This project will develop the fundamental mathematical principles required for this improved management.Read moreRead less
Optimal control of nonlinear delay systems: theory, algorithms, and applications. Time delays are present in many engineering systems, including robots, irrigation canals, and chemical reactors. This project aims to develop state-of-the-art techniques for controlling systems with time delays in an optimal manner.
Problems of identification and inference for 'non-standard' models in complex systems with special reference to finance and teletraffic. The project is concerned with 'non-standard' models needed to deal with complex systems, such as those exhibiting scaling and fractal properties. There is a focus on methods for dealing with heavy tailed distributions and long range dependent observations, for which most standard statistical methods break down, and on applications in finance and telecommunicati ....Problems of identification and inference for 'non-standard' models in complex systems with special reference to finance and teletraffic. The project is concerned with 'non-standard' models needed to deal with complex systems, such as those exhibiting scaling and fractal properties. There is a focus on methods for dealing with heavy tailed distributions and long range dependent observations, for which most standard statistical methods break down, and on applications in finance and telecommunications. An important part of the project concerns model validation for Heyde's fractal activity time geometric Brownian motion model, a candidate minimal description risky asset model to replace the geometric Brownian motion paradigm.Read moreRead less