Understanding and Modelling Weather Derivatives in Australia for the Purpose of their Accurate Pricing: a Statistical and Econometric Investigation. Australia suffers some of the most adverse and extreme weather globally. Its government and industries, especially agriculture and electricity, stand to benefit from improved understanding of weather derivatives and capability to price them accurately. Tailored to Australian weather scenarios, weather derivatives will be tools to manage local risk f ....Understanding and Modelling Weather Derivatives in Australia for the Purpose of their Accurate Pricing: a Statistical and Econometric Investigation. Australia suffers some of the most adverse and extreme weather globally. Its government and industries, especially agriculture and electricity, stand to benefit from improved understanding of weather derivatives and capability to price them accurately. Tailored to Australian weather scenarios, weather derivatives will be tools to manage local risk factors, and increase global competitiveness by hedging against competitors' good weather-related advantage. The US weather derivative market, capitalised at over US$7.5b, began just 7 years ago; there is no organised Australian market. This project's smart techniques for improving pricing accuracy will support the development and vigorous growth of a local market.Read moreRead less
Linkage Infrastructure, Equipment And Facilities - Grant ID: LE120100129
Funder
Australian Research Council
Funding Amount
$270,000.00
Summary
Internet of things testbed for creating a Smart City. The Internet of Things Testbed facility replicates the conditions of a city-wide distribution of sensors and data collection applications to model in real time the functioning urban sensing elements of a smart city, translating vast amounts of sensor data into meaningful information and ultimately action.
Coupling tropical cyclone and climate physics with ocean waves. It is argued that without accounting for the wave effects directly, the physics of large-scale air-sea interactions is inaccurate and incomplete. The project will introduce explicit coupling of large-scale atmospheric and oceanic phenomena with the physics of surface waves which should lead to improved predictions of tropical cyclones and climate.
Improving the physical understanding, numerical simulation and forecasts of severe storms and precipitation events over major Australian cities. This strategic research project will improve our physical understanding and numerical simulation of severe storms over major Australia cities, which underpins future improvements in the forecasts of such storms. It will add to the capability of households, local government and industry to better prepare for major rainfall, hail, wind and flood events.