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
Designing a Holistic Model of Advice to Improve Retirement Planning. We aim to improve retirement planning through the design and application of a new model integrating financial advice with career and health planning to optimise financial and psychological outcomes. We will test a multidisciplinary, holistic model of advice combining specialist knowledge in careers, health, and finances. Expected outcomes of the project include evaluating the use of a broader range of experts during retirement ....Designing a Holistic Model of Advice to Improve Retirement Planning. We aim to improve retirement planning through the design and application of a new model integrating financial advice with career and health planning to optimise financial and psychological outcomes. We will test a multidisciplinary, holistic model of advice combining specialist knowledge in careers, health, and finances. Expected outcomes of the project include evaluating the use of a broader range of experts during retirement planning and developing a model for the future training and development of financial advisers.By optimising the timing of workplace exit, we aim to decrease reliance on pensions and encourage earlier and on-going engagement in the retirement planning process. This will provide significant social and economic benefits.Read moreRead less