Market Model of Implied Volatility. The outcomes of the project will constitute a new methodology with a wide range of tools to handle the market uncertainties with practical applications in the finance industry. Consequently, the benefits of this project to the nation include enhancing its scientific standing in the international community, the training of Australian researchers in forefront methods of modelling of complex stochastic systems and the benefits resulting from its commercially rele ....Market Model of Implied Volatility. The outcomes of the project will constitute a new methodology with a wide range of tools to handle the market uncertainties with practical applications in the finance industry. Consequently, the benefits of this project to the nation include enhancing its scientific standing in the international community, the training of Australian researchers in forefront methods of modelling of complex stochastic systems and the benefits resulting from its commercially relevant elements. Read moreRead less
Optimal Control Computation and Analysis of Switched Systems with State and Control Constraints. DC/DC converters are widely used in power supply systems and hybrid power systems generate cleaner energy. Achieving optimum performance in these applications has high commercial and environmental impacts. New optimal control problems for such practical problems will be formulated and new unified optimization theory and methods for these optimal control problems will be obtained. The outcomes will en ....Optimal Control Computation and Analysis of Switched Systems with State and Control Constraints. DC/DC converters are widely used in power supply systems and hybrid power systems generate cleaner energy. Achieving optimum performance in these applications has high commercial and environmental impacts. New optimal control problems for such practical problems will be formulated and new unified optimization theory and methods for these optimal control problems will be obtained. The outcomes will enhance Australia's reputation in this cutting edge research, and contribute to achieving optimal performance of high commercial and environmental value applications. It will also facilitate international collaboration, and provide an excellent opportunity for research training.Read moreRead less
Conceptualizing and Measuring Regional Endogenous Growth: A Collaborative International Comparative Investigation. Policy for regional economic development in Australia is placing more emphasis on facilitating regional self-help. For the first time this project will provide an actual measure of regional endogenous performance. It identifies those features of regional economies and local populations are most important in explaining differences in the performance of regions, and it shows how inst ....Conceptualizing and Measuring Regional Endogenous Growth: A Collaborative International Comparative Investigation. Policy for regional economic development in Australia is placing more emphasis on facilitating regional self-help. For the first time this project will provide an actual measure of regional endogenous performance. It identifies those features of regional economies and local populations are most important in explaining differences in the performance of regions, and it shows how institutional arrangements and leadership can enhance or detract from regional development performance. This will help public agencies formulate better policies and mechanisms to help regions maximise their capacities to achieve enhanced endogenous growth. International comparative studies provide wider significance for policy formulation in regional development.Read moreRead less
Biogeography and evolution of Australia's fossil reptiles: A global perspective. Large marine reptiles such as plesiosaurs, and missing links such as legged snakes, are spectacular animals that have captured public attention. This collaboration will directly enhance public museum displays by collecting and preparing these spectacular fossils; many of the fossils found by the CIs are now centerpieces of museum displays (e.g. the SA museum). Also, it will also promote awareness and sustainable u ....Biogeography and evolution of Australia's fossil reptiles: A global perspective. Large marine reptiles such as plesiosaurs, and missing links such as legged snakes, are spectacular animals that have captured public attention. This collaboration will directly enhance public museum displays by collecting and preparing these spectacular fossils; many of the fossils found by the CIs are now centerpieces of museum displays (e.g. the SA museum). Also, it will also promote awareness and sustainable use of the environment: it will facilitate CI Kear in running earthwatch-style ecotourism field trips which promote sustainable use of finite fossil resources by making them commercially valuable to local communities as a source of tourism revenue.Read moreRead less
Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of ....Investment Approaches and Applications in Financial Markets: Evolutionary Kernel Based Subset Time-Series Using Semi-Parametric Approaches. The project will develop new investment assessments based on subset time-series modeling. Innovative evolutionary kernel smoothing algorithms using semi-parametric approaches will be introduced. The project will make three important applications of this modeling in financial markets: a) benchmarking and evaluation of inflation-indexed bonds; b) evaluation of the performance of global diversified investment funds; and c) prediction to provide early warning of the emergence of destabilising deflation or inflation. These three applications will lead to improved risk management practices and investment performance. Recursive algorithms will provide new statistical methods to study investment asset price movements and market volatility.
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The improvement of climate change investigations by developing and applying innovative evolutionary subset time series modelling using semi-parametric sparse-patterned approaches. With an estimated US$6.98 trillion loss indicated in the Stern review, severe climate change will make world climate conditions harsher and more likely include large natural climate disasters. The health of the Australian economy is critically dependent on decisions of environmental managers. However, most problems of ....The improvement of climate change investigations by developing and applying innovative evolutionary subset time series modelling using semi-parametric sparse-patterned approaches. With an estimated US$6.98 trillion loss indicated in the Stern review, severe climate change will make world climate conditions harsher and more likely include large natural climate disasters. The health of the Australian economy is critically dependent on decisions of environmental managers. However, most problems of complexity arising in climate change involve issues on which we do not possess a deep understanding. This project draws upon a set of inter-disciplinary concepts and models centred in neural networks that enable us to advance our understanding of complexity, leading to superior quantitative tools and models to allow for improved environmental decision-making.
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Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in th ....Investment approaches and opportunities in renewable energy and financial resource markets, using semi-parametric approaches to evolutionary subset time-series lattice-ladder modelling. The project findings will help Australian exporters and importers understand and manage energy and resource price risks more effectively. The investment community will benefit through selecting optimal asset allocations and enhancing value to investors. It will also benefit many other agencies, particularly in the service industries. It is not well recognised that in developed countries, including Australia, the financial service and related sectors account for more than 60 percent of economic activity and employment, so it is critical that more sophisticated statistical methods be established, and practical applications conducted, in order to advance the understanding of complexity management in the financial service and related sectors.Read moreRead less
The improvement of investment approaches by developing and applying bootstrap methods to innovative evolutionary kernel-based subset time-series modelling. With over $1 trillion of investors' monies in the hands of fund managers, the importance of efficient investment decisions across all industry sectors is self evident. Even if the modest target of systematically improving decision making by 1 or 2 % is set, the aggregate economic benefit achieved, given the compounding effects will be enormou ....The improvement of investment approaches by developing and applying bootstrap methods to innovative evolutionary kernel-based subset time-series modelling. With over $1 trillion of investors' monies in the hands of fund managers, the importance of efficient investment decisions across all industry sectors is self evident. Even if the modest target of systematically improving decision making by 1 or 2 % is set, the aggregate economic benefit achieved, given the compounding effects will be enormous. Any developed or developing country will profit from such advanced decision-making approaches. Therefore it is critical that more sophisticated statistical methods be established, and practical applications conducted, in order to advance the understanding of complexity management in the financial investment and other relevant sectors.Read moreRead less
The Mathematical and Philosophical Foundations of Probability. We find probability wherever we find uncertainty: virtually everywhere in our lives. Probability is essential to almost every technology. High-stakes decisions are routinely made on the basis of probability judgments and risk assessment-for example, in engineering, medicine, agriculture, environmental management, urban planning, public policy, public health, the law, and in our national defence. And some of those decisions have been ....The Mathematical and Philosophical Foundations of Probability. We find probability wherever we find uncertainty: virtually everywhere in our lives. Probability is essential to almost every technology. High-stakes decisions are routinely made on the basis of probability judgments and risk assessment-for example, in engineering, medicine, agriculture, environmental management, urban planning, public policy, public health, the law, and in our national defence. And some of those decisions have been made badly because of poor probability estimates-witness the 1986 space shuttle disaster. Our current methodologies for using probability are inadequate. This project will make an important contribution to the collective enterprise of enhancing our understanding of probability and its myriad applications.Read moreRead less
Strategies to reduce risk of heat induced illness during intermittent, high intensity activity in a tropical environment. Regular intermittent, high intensity physical activity (IHIA) affords protection against modern life-style diseases (type II diabetes, coronary heart disease and some cancers) but when conducted in the tropics, exposes persons to the risk of dehydration, heat cramps, hypotension, heat syncope, heat exhaustion and heat stroke. Australia has rapid population growth in the tropi ....Strategies to reduce risk of heat induced illness during intermittent, high intensity activity in a tropical environment. Regular intermittent, high intensity physical activity (IHIA) affords protection against modern life-style diseases (type II diabetes, coronary heart disease and some cancers) but when conducted in the tropics, exposes persons to the risk of dehydration, heat cramps, hypotension, heat syncope, heat exhaustion and heat stroke. Australia has rapid population growth in the tropics and key sporting fixtures have moved to the region. We have set up the research capability and must now move on a range of IHIA in sport, workplaces, armed and emergency services to provide strategies to reduce the risk of heat induced illness in a tropical environment.Read moreRead less