Maximum likelihood estimation of the parameters of stochastic differential equations. The primary objective of this project is to develop efficient algorithms for estimating the parameters of stochastic differential equations (SDEs) by simulated and exact maximum likelihood. The research will draw on both parametric and non-parametric analysis in novel ways to construct estimation procedures that are computationally feasible. These methods will then be applied in the area of finance and used to ....Maximum likelihood estimation of the parameters of stochastic differential equations. The primary objective of this project is to develop efficient algorithms for estimating the parameters of stochastic differential equations (SDEs) by simulated and exact maximum likelihood. The research will draw on both parametric and non-parametric analysis in novel ways to construct estimation procedures that are computationally feasible. These methods will then be applied in the area of finance and used to estimate the parameters of stochastic-volatility models, thus contributing to knowledge in a prominent area of complex systems, namely financial risk. The execution of this collaborative project will deliver quality research training in the topical area of mathematical finance and produce high-calibre postgraduates.
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What are the determinants and effects of school choice? An international comparison between Australia and the UK. The project will provide a clearer picture of the determinants of school choice, most notably the impact of economic phenomena on that choice. For Australia, this will mean we have a better understanding of the competing explanations of the growth of students at private schools over the past three decades: the role of government subsidies; the role of demographic changes; the effec ....What are the determinants and effects of school choice? An international comparison between Australia and the UK. The project will provide a clearer picture of the determinants of school choice, most notably the impact of economic phenomena on that choice. For Australia, this will mean we have a better understanding of the competing explanations of the growth of students at private schools over the past three decades: the role of government subsidies; the role of demographic changes; the effects of increased income inequality; and the role of changes in preferences towards private schools. This information will provide a better evidence base for future policy development in this area.Read moreRead less
Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once t ....Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once they have occurred, how long they will last. A better understanding of the electricity price process will enable more sophisticated plans and strategies to be put in place to hedge against unfavourable, unexpected or extreme price events.Read moreRead less
Internal capital markets, divisional rent-seeking and optimal incentives: theory and evidence. There exists a considerable gap between real-world economic organizations and the economic theory of the firm. This project provides formal theories of resource allocation within multidivisional corporations and the nature of optimal incentives, thereby contributing to fill this gap. The project is expected to produce highest-quality research publishable in top-tier journals. This will, among others, e ....Internal capital markets, divisional rent-seeking and optimal incentives: theory and evidence. There exists a considerable gap between real-world economic organizations and the economic theory of the firm. This project provides formal theories of resource allocation within multidivisional corporations and the nature of optimal incentives, thereby contributing to fill this gap. The project is expected to produce highest-quality research publishable in top-tier journals. This will, among others, enhance Australia's standing as a knowledge nation. Additional benefit comes from the possibility of longer term collaborative research between Monash University and the University of Bristol, and possible research collaboration between Australian and British economists that goes beyond the two institutions. Read moreRead less
Development of Knowledge Discovery for High Dimensional Biomedical Data. The recent progress in experimental techniques of molecular genetics has made available a wealth of genome data and raised the interest for analysis of DNA sequences. As the human and mouse genome projects are in a phase of systematic sequencing, computational tools based on concepts used in science fields have recently played a prominent role. Significant contributions to this project will increasingly depend upon original ....Development of Knowledge Discovery for High Dimensional Biomedical Data. The recent progress in experimental techniques of molecular genetics has made available a wealth of genome data and raised the interest for analysis of DNA sequences. As the human and mouse genome projects are in a phase of systematic sequencing, computational tools based on concepts used in science fields have recently played a prominent role. Significant contributions to this project will increasingly depend upon original application and development of algorithms for the analysis of genomic data, and of the computational systems that support them. These challenges have fostered major progress in computer science, leading to collaborative research of global significance.Read moreRead less
Effect of Chemo-Mechanical Grinding on Surface Integrity of Single Crystal Silicon Substrates. Silicon substrates or wafers are extensively used in electronic and optic/photonic industries. A long-time standing problem in silicon wafer machining is the surface and subsurface damage induced by machining. This may significantly affect the mechanical, optical and electronic characteristics of wafer-based components. The issue becomes increasingly more critical as the application of silicon wafers i ....Effect of Chemo-Mechanical Grinding on Surface Integrity of Single Crystal Silicon Substrates. Silicon substrates or wafers are extensively used in electronic and optic/photonic industries. A long-time standing problem in silicon wafer machining is the surface and subsurface damage induced by machining. This may significantly affect the mechanical, optical and electronic characteristics of wafer-based components. The issue becomes increasingly more critical as the application of silicon wafers is extending further as structural components. The research outcomes will contribute an improved understanding of Chemo Mechanical Grinding process and help to develop innovative technologies for silicon industries.Read moreRead less
Regional Economic Development and Performance: Roles of Leadership and Institutional Factors in Endogenous Growth. Contemporary regional economic development theory emphasises endogenous factors as key determinants of difference in regional economic performance. Leadership and institutional issues require special attention for analysis and in strategy formulation and implementation of regional development plans. This project develops model frameworks for analysing the impact of those endogenous ....Regional Economic Development and Performance: Roles of Leadership and Institutional Factors in Endogenous Growth. Contemporary regional economic development theory emphasises endogenous factors as key determinants of difference in regional economic performance. Leadership and institutional issues require special attention for analysis and in strategy formulation and implementation of regional development plans. This project develops model frameworks for analysing the impact of those endogenous factors on regional economic performance and develops methodologies for their incorporation into regional development strategy, using illustrative case studies. A major book on this topic will result. The collaboration is between researchers at the University of Queensland and George Mason University.Read moreRead less
Japan, Australia and the Southern Bluefin Tuna (SBT) Fishery: Social and Political Perspectives. In 1999 negotiations over the annual tonnage of the SBT fishery allocated to Japan broke down over disagreements about how much fishing effort SBT stocks could survive. Australia resorted to the international legal system and, although Australia eventually accepted Japan's position, bilateral relations have remained troubled over SBT. Australian public perceptions of the fishery tend to be hostile, e ....Japan, Australia and the Southern Bluefin Tuna (SBT) Fishery: Social and Political Perspectives. In 1999 negotiations over the annual tonnage of the SBT fishery allocated to Japan broke down over disagreements about how much fishing effort SBT stocks could survive. Australia resorted to the international legal system and, although Australia eventually accepted Japan's position, bilateral relations have remained troubled over SBT. Australian public perceptions of the fishery tend to be hostile, especially towards the Japanese side. IN order to achieve a balance between economics and sustainability, fisheries must be managed, and management may be hampered by social and political problems. This project provides social science research to facilitate effective management of SBT.Read moreRead less
Testing, modelling and engineering applications of topologically interlocking structures. The CI and his international collaborator have recently proposed a new principle of design of materials and structures based on topological interlocking of constituent elements. Elements of simple shape, such as tetrahedra, are assembled in structures that keep their integrity without any binder or connectors. Unusual properties, such as high fracture toughness and damage tolerance were found. The project a ....Testing, modelling and engineering applications of topologically interlocking structures. The CI and his international collaborator have recently proposed a new principle of design of materials and structures based on topological interlocking of constituent elements. Elements of simple shape, such as tetrahedra, are assembled in structures that keep their integrity without any binder or connectors. Unusual properties, such as high fracture toughness and damage tolerance were found. The project aims at investigating the mechanical and acoustic properties of the newly discovered interlockable geometries (cubes, octahedra, dodecahedra and icosahedra) and identifying the areas of application. The project will promote the international leading role of the collaborating institutions in this novel field.Read moreRead less
Next generation global navigation satellite systems ambiguity resolution. In the next five years, four new satellite-based navigation and positioning systems, called Global Navigation Satellite Systems (GNSS), will come to challenge/complement the well-known US global positioning system (GPS). In order to get the highest accuracy and most reliable results from these GNSSs, a procedure known as ambiguity resolution (AR) is essential. This collaborative project will bring Professor Peter Teuniss ....Next generation global navigation satellite systems ambiguity resolution. In the next five years, four new satellite-based navigation and positioning systems, called Global Navigation Satellite Systems (GNSS), will come to challenge/complement the well-known US global positioning system (GPS). In order to get the highest accuracy and most reliable results from these GNSSs, a procedure known as ambiguity resolution (AR) is essential. This collaborative project will bring Professor Peter Teunissen, the inventor of the famous LAMBDA method that is currently used in all GPS AR software, to Australia to work on AR for a combined new GNSS AR solution that is also optimised for Australian users. Read moreRead less