Stochastic target hitting time and the problem of early retirement

We consider a problem of optimal control of a “retirement investment fund” over a finite time horizon with a target hitting time criteria. That is, we wish to decide, at each stage, what percentage of the current retirement fund to allocate into the limited number of investment options so that a decision maker can maximize the probability that his or her wealth exceeds a target prior to his or her retirement. We use Markov decision processes with probability criteria to model this problem and give an example based on data from certain options available in an Australian retirement fund

Math saves the forest

Wireless sensor networks are decentralised networks consisting of sensors that can detect events and transmit data to neighbouring sensors. Ideally, this data is eventually gathered in a central base station. Wireless sensor networks have many possible applications. For example, they can be used to detect gas leaks in houses or fires in a forest.\ud In this report, we study data gathering in wireless sensor networks with the objective of minimising the time to send event data to the base station. We focus on sensors with a limited cache and take into account both node and transmission failures. We present two cache strategies and analyse the performance of these strategies for specific networks. For the case without node failures we give the expected arrival time of event data at the base station for both a line and a 2D grid network. For the case with node failures we study the expected arrival time on two-dimensional networks through simulation, as well as the influence of the broadcast range