Real-time scheduling of trains to control peak electricity demand. This project aims to develop new scheduling and control methods that will enable railways to reduce their demand for electricity during peak demand periods, without undue disruption to the timetable.
These new methods and systems will integrate with—and expand the capabilities of—an Australian train control system that is used by railways around the world. This will enable better management of electricity within a region and be ....Real-time scheduling of trains to control peak electricity demand. This project aims to develop new scheduling and control methods that will enable railways to reduce their demand for electricity during peak demand periods, without undue disruption to the timetable.
These new methods and systems will integrate with—and expand the capabilities of—an Australian train control system that is used by railways around the world. This will enable better management of electricity within a region and better use of renewable energy sources, with significant cost savings for railways and the wider community.Read moreRead less
Two-price quantitative finance. This project aims to establish a novel field, namely two-price quantitative finance, and explore its applications. The new field will integrate two major schools for modelling and explain the presence of two prices, the buying and selling prices, widely observed in the real-world markets, and the equilibrium approach from the fundamental law of one price. The outcomes would deepen our understanding of the fundamental relationship among liquidity, prices, risk and ....Two-price quantitative finance. This project aims to establish a novel field, namely two-price quantitative finance, and explore its applications. The new field will integrate two major schools for modelling and explain the presence of two prices, the buying and selling prices, widely observed in the real-world markets, and the equilibrium approach from the fundamental law of one price. The outcomes would deepen our understanding of the fundamental relationship among liquidity, prices, risk and the economy. This project expects to bring about long-term impact on quantitative finance and related applications through providing a deep understanding of, and a new perspective for, the design, risk and fairness of the finance, property and insurance markets.Read moreRead less
G-expectation and its applications to nonlinear risk management. This project will develop novel theories and methods for nonlinear risk management based on nonlinear expectations and Backward Stochastic Differential Equations. The expected outcomes of the project will place Australia in the forefront and the leading position of these fields.