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
How do macroeconomic fluctuations affect the educational choices of young Australians? The 1990-1991 recession, recent evidence, and econometric issues. The educational choices of young people are crucial for any nation's future. The project's empirical findings will inform public policy, particularly in the areas of education and training and youth unemployment. The research will help policy makers target people who need extra support in tough times and help determine the demand for different k ....How do macroeconomic fluctuations affect the educational choices of young Australians? The 1990-1991 recession, recent evidence, and econometric issues. The educational choices of young people are crucial for any nation's future. The project's empirical findings will inform public policy, particularly in the areas of education and training and youth unemployment. The research will help policy makers target people who need extra support in tough times and help determine the demand for different kinds of education. The findings have implications for future policies aimed at reducing inequality. The project's methodological contributions will lead to better and more reliable research in economics and other fields such as biology and engineering. The findings will be suitable for the top economics journals and contribute to Australia's standing in the academic community.Read moreRead less
The geometry of impossible, or contradictory objects and its applications to computing and cognition. The principal aim is pure research, the increase of knowledge within the Theory of Inconsistency and particularly its mathematical aspects, to be available to the national and world community. Additionally, a new stock of hitherto-unseen images (still, moving and three-dimensional) will be constructed in a virtual reality environment. In addition to enhancing Australia's strong reputation in log ....The geometry of impossible, or contradictory objects and its applications to computing and cognition. The principal aim is pure research, the increase of knowledge within the Theory of Inconsistency and particularly its mathematical aspects, to be available to the national and world community. Additionally, a new stock of hitherto-unseen images (still, moving and three-dimensional) will be constructed in a virtual reality environment. In addition to enhancing Australia's strong reputation in logic, there are spin-offs for mathematics, cognitive science, computer studies, and the arts and entertainment industries.Read moreRead less
Analysing Instabilities in Complex Combustion Models for Different Geometrical Configurations. Anyone who has gazed into a fire will appreciate the complexity of combustion. To date only the simplest of models have been comprehensively analysed. This project, which aims to analyse more complex combustion models, will address some of the fundamental issues of combustion theory. Results from this project will lead to a better understanding of combustion processes, with the potential to prevent exp ....Analysing Instabilities in Complex Combustion Models for Different Geometrical Configurations. Anyone who has gazed into a fire will appreciate the complexity of combustion. To date only the simplest of models have been comprehensively analysed. This project, which aims to analyse more complex combustion models, will address some of the fundamental issues of combustion theory. Results from this project will lead to a better understanding of combustion processes, with the potential to prevent explosions in reactors and storage tanks. Other potential applications range from bushfires to the manufacture of exotic materials. Furthermore, the novel mathematical techniques developed in this project can be easily adapted to other types of systems such as those used in biology (eg. epidemiology and tumour growth), economics, physics etc. Read moreRead less
Quantum Information and Entanglement: a new framework for Science and Technology with quantum many-body systems. The expected outcome of the research program is a significant boost in the understanding of quantum many-body systems, which will reinforce Australia's competitiveness and international profile in aspects of breakthrough science and frontier technologies. By developing both the underpinning theory and innovative computational tools, and by applying them to problems of recognised impor ....Quantum Information and Entanglement: a new framework for Science and Technology with quantum many-body systems. The expected outcome of the research program is a significant boost in the understanding of quantum many-body systems, which will reinforce Australia's competitiveness and international profile in aspects of breakthrough science and frontier technologies. By developing both the underpinning theory and innovative computational tools, and by applying them to problems of recognised importance, this program will have direct implications in areas of condensed matter physics, quantum statistical mechanics, particle physics, complex systems, quantum information science and technology, quantum computation, engineered quantum systems and nanotechnology. Read moreRead less
Paraconsistent Foundations of Mathematics. In the English-speaking world, Australia is already the most prominent centre for paraconsistent research, known for development of radical new ideas advanced here in the last few decades. The program is ready to mature into its next phase, making important and lasting contributions to logic, philosophy, and mathematics. The Australian academy will derive international recognition for impressive new mathematics, and innovative philosophical explanations ....Paraconsistent Foundations of Mathematics. In the English-speaking world, Australia is already the most prominent centre for paraconsistent research, known for development of radical new ideas advanced here in the last few decades. The program is ready to mature into its next phase, making important and lasting contributions to logic, philosophy, and mathematics. The Australian academy will derive international recognition for impressive new mathematics, and innovative philosophical explanations of truth and proof. Read moreRead less
The Objects of Probabilities. Probabilities impact almost every aspect of our lives. Actuaries calculate probabilities of property loss due to bushfires, while climatologists warn that such probabilities will increase alarmingly. Probabilities abound in engineering, medicine, the law, the sciences and social sciences, and much philosophy. Yet we lack a proper understanding of the kinds of things that receive probabilities: the objects of probabilities. This project will provide such understandin ....The Objects of Probabilities. Probabilities impact almost every aspect of our lives. Actuaries calculate probabilities of property loss due to bushfires, while climatologists warn that such probabilities will increase alarmingly. Probabilities abound in engineering, medicine, the law, the sciences and social sciences, and much philosophy. Yet we lack a proper understanding of the kinds of things that receive probabilities: the objects of probabilities. This project will provide such understanding. It will rethink the foundations of probability and decision theory, with potential ramifications for the philosophy, science, and public policy that are based on these theories. It thus aims to strengthen Australia's research profile and international standing in these areas.Read moreRead less
Global Lithospheric Architecture Mapping II. The continents have been rifted, or broken up, and collided, or re-assembled, along major zones of weakness many times throughout Earth's history. Boundaries between such continental domains focus large-scale movements of fluids that can produce giant ore deposits. This study will provide new perspectives on the localisation of world-class economic deposits, the Earth resources on which society depends. Innovations in imaging the deep Earth beneath co ....Global Lithospheric Architecture Mapping II. The continents have been rifted, or broken up, and collided, or re-assembled, along major zones of weakness many times throughout Earth's history. Boundaries between such continental domains focus large-scale movements of fluids that can produce giant ore deposits. This study will provide new perspectives on the localisation of world-class economic deposits, the Earth resources on which society depends. Innovations in imaging the deep Earth beneath continents, and in numerical modelling, will maintain our high international profile in research relevant to National Priority 1.6 (Developing Deep Earth Resources). Unique 3D geological maps of regions down to 250km will make the composition of deep Earth regions newly accessible to geoscientists and all potential endusers.Read moreRead less
Bayesian choice modelling. Discrete choice models are important as they provide tools to help understand choice processes of decision makers. It remains a challenge to specify models with covariance structures flexible enough to capture complex patterns of cross-substitution between choices while being able to capture heterogeneity present in individual behaviour. We will develop a Bayesian approach to choice modelling that uses covariance selection to overcome these problems. This will train re ....Bayesian choice modelling. Discrete choice models are important as they provide tools to help understand choice processes of decision makers. It remains a challenge to specify models with covariance structures flexible enough to capture complex patterns of cross-substitution between choices while being able to capture heterogeneity present in individual behaviour. We will develop a Bayesian approach to choice modelling that uses covariance selection to overcome these problems. This will train researchers and raise the profile of Australia in an active research area that is important in the social sciences; substantive applications will be in health economics, but developments will also be relevant to cognate areas of biostatistics, epidemiology, and ecology.Read moreRead less
Construction of utility functions from observations of consumer behaviour with application to resource modelling and water management strategies. The optimisation techniques developed will be on the forefront of applied mathematical sciences and will increase the prestige of the Australian mathematical community. The expected results will also be of value because they can be used to improve the CGE modelling technique. The implementation of the CGE model of one of Victoria's agricultural regions ....Construction of utility functions from observations of consumer behaviour with application to resource modelling and water management strategies. The optimisation techniques developed will be on the forefront of applied mathematical sciences and will increase the prestige of the Australian mathematical community. The expected results will also be of value because they can be used to improve the CGE modelling technique. The implementation of the CGE model of one of Victoria's agricultural regions will be used to improve the accuracy of regional economic models and will contribute to efficient regional resource management. This has the potential to positively affect the economic growth and employment in the region. The expected outcomes of the project are especially important taking into account the need for predicting the socio-economic consequences of the 1994 COAG water reforms. Read moreRead less