Designing Weather Derivatives and Yield Index Contracts for Rural Australia. This project addresses the security of communities in rural areas. Successful risk management based on weather derivatives and yield index contracts will stabilise the income of rural industries and improve the financial viability of rural communities. It will allow systemic risks from climate change to be reinsured with financial institutions, maintain some of Australia's most important export industries and help maint ....Designing Weather Derivatives and Yield Index Contracts for Rural Australia. This project addresses the security of communities in rural areas. Successful risk management based on weather derivatives and yield index contracts will stabilise the income of rural industries and improve the financial viability of rural communities. It will allow systemic risks from climate change to be reinsured with financial institutions, maintain some of Australia's most important export industries and help maintain leadership in climate risk research. It will use state of the art methods to derive and estimate nonlinear yield indexes, and develop new option pricing methods to value the premium that farmers should pay for a yield index contract. Finally it will evaluate the likely adoption by farmers using nonlinear portfolio theory.Read moreRead less
HYBRID METHODS FOR SOLVING LARGE-SCALE OPTIMISATION PROBLEMS. Mathematical modelling and optimisation plays a crucial role in the advancement of modern business, science and technology. A significant benefit of this project is the development of a range of powerful computational tools for improving the productivity of Australian industry, including: agriculture; communications; defence; manufacturing; mining and petroleum; transport and logistics. These tools will be built upon advances in the f ....HYBRID METHODS FOR SOLVING LARGE-SCALE OPTIMISATION PROBLEMS. Mathematical modelling and optimisation plays a crucial role in the advancement of modern business, science and technology. A significant benefit of this project is the development of a range of powerful computational tools for improving the productivity of Australian industry, including: agriculture; communications; defence; manufacturing; mining and petroleum; transport and logistics. These tools will be built upon advances in the fundamental theory developed by the research team. The resulting high quality publications and associated algorithms will greatly enhance Australia's international scientific reputation and provide Australian industry with new cutting-edge optimisation technology.Read moreRead less
Robust methods for hard optimization problems. Highly advanced industrial and information-based societies depend on complex systems that underpin their infrastructure and technologies. Mathematical modelling and optimization techniques are most frequently deployed for the development and refinement of these systems. This project focuses on an important class of difficult optimization problems that arise in many applications. A significant benefit of this project is the development of a number of ....Robust methods for hard optimization problems. Highly advanced industrial and information-based societies depend on complex systems that underpin their infrastructure and technologies. Mathematical modelling and optimization techniques are most frequently deployed for the development and refinement of these systems. This project focuses on an important class of difficult optimization problems that arise in many applications. A significant benefit of this project is the development of a number of robust methods for these hard optimization problems. These methods will be built upon advances in the fundamental theory developed by the research team. The resulting high quality publications and associated algorithms will greatly enhance Australia's international scientific reputation.Read moreRead less