When a company has excess power generation at its disposal, a natural course of action will be to seek to market that power. However, power markets are notoriously volatile, and this makes the cash flows that result from selling the power unpredictable and hard to plan for. The aim of this project is to help develop models for power forward prices that can be used to help manage this risk.
This project will partner a student intern in graduate mathematics with the development team at Mathtoons Media Inc., an educational technology company in the business of creating mobile learning applications. Learning and academic practice is migrating away from traditional textbooks and webwork and toward mobile devices. The varying physical constraints of these devices post a significant challenge to the creators of mobile digital math practice applications.
Operations Research — often referred to as the “Science of Better” — uses Mathematics to improve the efficiency of everything from the operation of airlines to hospitals. In collaboration with the BC Centre for Excellence in HIV/AIDS at St. Paul’s Hospital and Merck Frosst, this project will use Operations Research to improve the treatment and care of HIV/AIDS patients in British Columbia. The delivery of care to HIV/AIDS patients is a complex process.
A hedge is an investment position intended to offset potential losses, or in our case to pay off potential liabilities. Interest rates play an important role in hedging strategies and risk management for variable annuities and other long-term products. Financial institutions have an urgent need for practical and affordable dynamic hedging strategies. We propose a realistic interest rates model and the so-called risk minimization hedging strategy.