COMISEF · Computational optimization methods in Statistics, Econometrics, and Finance
FP6 — Marie Curie Actions (Human Resources and Mobility)
- Duration
- 2006-12-15 → 2010-12-14
- EU contribution
- €2,966,540
- Participants
- 13
- Scheme
- RTN
Lines connect the coordinator with its partners. CORDIS does not always give exact coordinates for projects before 2014. These points are placed at city or country level.
Results in brief
Final Activity Report Summary - COMISEF (Computational Optimization Methods in Statistics, Econometrics, and Finance)
A highly active and successful cohort of young researchers could be recruited for COMISEF. These young researchers received special training in the field of heuristic optimization methods and among other things, successfully contributed to the network's publication output. 7 out of 15 ESR/ER received their PhD degree and the rest is expected to follow suit. It is expected that the specific techniques developed in the network and acquired by the fellows will disseminate fast into new applications in many fields of science and practice. All in all, there were almost 500 COMISEF related publications over 90 of which involved young researchers. Over the course of the duration of COMISEF many different research activities took place at the respective institutions and there were several collaborations among the partners. The packages specified in the contract were successfully implemented, and all the main goals were achieved. No major problems have occurred with regard to the cost management, staff selection and research/training output. As far as the Gender Balance is concerned, the COMISEF-network had 4 female and 11 male ESR/ER.
Data: CORDIS, © European Union
Project objective
The scope of quantitative research broadens due to the increasing availability of large data sets. In order to extract relevant information new statistical procedures are developed. Often, these procedures result in complex optimization problems which cannot be tackled by standard algorithms. Thus, there is an urgent need for the further dissemination of recent advances in heuristic optimization. These tools are still rarely used in statistics, econometrics, and quantitative finance. This neglect is due to missing information about the complexity of the problems, missing knowledge about the tools, and a missing standard for the analysis of the additional stochastic component introduced. COMISEF will close these gaps by consolidating European research activities and by providing a research training framework for young scientists. COMISEF will generate synergies between researchers from different disciplines and overcome the fragmentation of the European Research Area. It will bundle resources to establish a new optimization paradigm in statistics, econometrics and finance. COMISEF focuses on new optimization methods, their implementation (including parallel, distributed, and grid computing), their applications in statistics, econometrics and quantitative finance, and the statistical analysis of procedures and implementations. A cohort of young scientists will acquire the relevant knowledge for the development and implementation of innovative computational tools. These experts are required in academia and in industry in Europe, e.g., in the finance and related sectors. Thus, educating these experts will provide European value added. Based on the scientific results, in particular a well established formal framework for the analysis of convergence of optimization heuristics, and the successful training of a cohort of researchers, it is expected that the new methods will become a standard in the disciplines covered by the network and the related industry.
Original text from CORDIS.
Participants
- JUSTUS-LIEBIG-UNIVERSITAET GIESSEN · GIESSENCoordinatorGermany
- BIRKBECK COLLEGE, UNIVERSITY OF LONDON · LONDONUnited Kingdom
- DEUTSCHE BANK AG · FRANKFURT AM MAINCity levelGermany
- HUMBOLDT UNIVERSITAET ZU BERLIN · BERLINGermany
- IMPERIAL COLLEGE OF SCIENCE, TECHNOLOGY AND MEDICINE · LONDONUnited Kingdom
- Københavns Universitet · KOBENHAVNDenmark
- UNIVERSITAET KLAGENFURT · KLAGENFURTAustria
- UNIVERSITAET ZUERICH · ZURICHCity levelSwitzerland
- UNIVERSITE DE GENEVE · GENEVE 4Switzerland
- UNIVERSITY OF CYPRUS · NICOSIACyprus
- UNIWERSYTET LODZKI · LODZPoland
- University of Essex · COLCHESTERUnited Kingdom
- Università degli Studi di Roma La Sapienza · RomaItaly
Links
Data: CORDIS, © European Union