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Latest Projects

Research project (§ 26 & § 27)
Duration : 2015-03-01 - 2016-11-30

In a one-years-extension of our previous project “Robust Risk Estimation”, we focus on multivariate aspects and dynamics of extreme events so far not yet covered in this detail. In all our reference applications, i.e., in financial risks of a bank, public health (hospital length of stay and costs), and hydrology (river discharge), there are important questions where these aspects cannot be ignored but rather have to be accounted for. With thin empirical evidence available to this end, misspecification becomes a central issue in the corresponding applications. As a remedy to some extent, we propose to enhance our robust procedures applying robust likelihood techniques to adjust our procedures in a way that they can adapt to minor to moderate model misspecifications. This continues our successful work on theoretical foundation, development and application of robust procedures for risk management of complex systems in the presence of extreme events. In particular this extends the applicability of our software infrastructure in R developed in the current project with its powerful set of diagnostic tools to assess influence and outlyingness of data.
Research project (§ 26 & § 27)
Duration : 2015-03-01 - 2018-12-31

The aim of the project is a comprehensive analysis of drought and low flows in Central Europe (Austria and neighbour regions) under past, present and future conditions. The approach aims to overcome the limitations of current trend analysis and climate projections by a joint analysis of streamflow anomalies with meteorological drivers and tree ring records in the longer past, including the pre-instrumental period. This new understanding of drought generation in the climate and hydrological system will be used (i) to put current extreme low flow conditions into the context of climate change during the past millennium, and (ii) to develop improved models for predicting future drought conditions. The results target government agencies at both state and federal levels and private businesses and the main benefit will come from reduced costs to the government budgets as well as to private stakeholders due to more efficient management decisions.
Research project (§ 26 & § 27)
Duration : 2011-04-01 - 2016-07-31

Market segmentation is a key business strategy. Yet many fundamental problems in segmentation analysis remain unresolved. For example, whether segmentation reveals true segments or constructs artificial ones, which technique recommends the ideal number of clusters, and which visualisation tool best conveys segmentation results to users. Despite half a century of segmentation research, these problems remain in the “too hard” basket. Meanwhile, users apply segmentation analysis without understanding the fundamentals, leading to serious misinterpretations of results. We will develop a toolbox for all stages of the segmentation process addressing these problems and thus increasing the validity and user friendliness of segmentation studies.

Supervised Theses and Dissertations