Stochastic models provide frameworks for understanding phenomena in which random factors play a role. In this project we study two new families of stochastic processes. The knowledge gained by this investigation has strong ramifications in the overall study of stochastic processes as the new families exemplify ill understood random phenomena. The insight, into the largely uncharted territories they represent, will greatly advance our understanding of the general theory of stochastic processes. From the application point of view, these new models are analytically tractable, make practical sense and have a real potential for use in a vast field of practical problems.
|Effective start/end date||31/07/09 → 31/12/13|
- Australian Research Council (ARC): AUD240,000.00
- Australian Research Council (ARC)
- Monash University