Operations research in consumer finance: challenges for operational research

Consumer finance has become one of the most important areas of banking both because of the amount of money being lent and the impact of such credit on the global economy and the realisation that the credit crunch of 2008 was partly due to incorrect modelling of the risks in such lending. This paper reviews the development of credit scoring,-the way of assessing risk in consumer finance- and what is meant by a credit score. It then outlines ten challenges for Operational Research to support modelling in consumer finance. Some of these are to developing more robust risk assessment systems while others are to expand the use of such modelling to deal with the current objectives of lenders and the new decisions they have to make in consumer financ

Collections policy comparison in LGD modelling

This paper discusses the similarities and the differences in the collection process between in house and 3rd Party collection. The objective is to show that although the same type of modelling approach to estimating Loss Given Default (LGD) can be used in both cases the details will be significantly different. In particular the form of the LGD distribution suggests one needs to split the distribution in different easy in the two cases as well as using different variables. The comparisons are made use two data sets of the collections outcomes from two sets of unsecured consumer defaulters<br/

Proton transport in biological systems can be probed by two-dimensional infrared spectroscopy

We propose a new method to determine the proton transfer (PT) rate in channel proteins by two-dimensional infrared (2DIR) spectroscopy. Proton transport processes in biological systems, such as proton channels, trigger numerous fundamental biochemical reactions. Due to the limitation in both spatial and time resolution of the traditional experimental approaches, describing the whole proton transport process and identifying the rate limiting steps at the molecular level is challenging. In the present paper, we focus on proton transport through the Gramicidin A channel. Using a kinetic PT model derived from all-atom molecular dynamics simulations, we model the amide I region of the 2DIR spectrum of the channel protein to examine its sensitivity to the proton transport process. We demonstrate that the 2DIR spectrum of the isotope-labeled channel contain information on the PT rate, which may be extracted by analyzing the antidiagonal linewidth of the spectral feature related to the labeled site. Such experiments in combination with detailed numerical simulations should allow the extraction of site dependent PT rates, providing a method for identifying possible rate limiting steps for proton channel transfer.

Computational spectroscopy of complex systems

Numerous linear and non-linear spectroscopic techniques have been developed to elucidate structural and functional information of complex systems ranging from natural systems, such as proteins and light-harvesting systems, to synthetic systems, such as solar cell materials and light-emitting diodes. The obtained experimental data can be challenging to interpret due to the complexity and potential overlapping spectral signatures. Therefore, computational spectroscopy plays a crucial role in the interpretation and understanding of spectral observables of complex systems. Computational modeling of various spectroscopic techniques has seen significant developments in the past decade, when it comes to the systems that can be addressed, the size and complexity of the sample types, the accuracy of the methods, and the spectroscopic techniques that can be addressed. In this Perspective, I will review the computational spectroscopy methods that have been developed and applied for infrared and visible spectroscopies in the condensed phase. I will discuss some of the questions that this has allowed answering. Finally, I will discuss current and future challenges and how these may be addressed

Productivity Growth is Key to Achieving Long Run Agricultural Sustainability

We explore, in-depth, the role of public spending on agricultural Research and Development (R&D) and linkages to on-farm productivity, resource use, environmental quality and competitiveness of U.S. agriculture. Productivity growth in U.S. agriculture since the 1950’s has permitted total output to grow rapidly with very limited growth in farm inputs. However, this growth has been closely tied to public and private investments in R&D. And the payoff from public R&D takes decades to be fully realized. Therefore, it is the investments being made today that will determine the sustainability and competitiveness of U.S. agriculture at mid-century. In this Policy Brief, we explore the consequences of alternative R&D trajectories – both in the U.S. and abroad – for the environmental sustainability and economic competitiveness of U.S. agriculture in 2050

Reviewing the International Year of Deserts and Desertification 2006: What contribution towards combating global desertification and implementing the united nations convention to combat desertification?

During the United Nations General Assembly's 58th Ordinary Session in 2003, a decision was adopted declaring 2006 the International Year of Deserts and Desertification (IYDD). This paper critically reviews this International Year. It draws on the key outputs from IYDD events from across the globe to highlight the challenges and ways forward in both combating desertification and implementing the United Nations Convention to Combat Desertification (UNCCD). The paper considers what the IYDD outputs mean for the current and historical controversies surrounding the desertification issue and presents an overall evaluation of the successes of IYDD for the different stakeholder groups within the desertification regime. It is concluded that while the International Year can be considered to have met the United Nations's four objectives: to address the long-term oriented implementation of the UNCCD; raise awareness of the implications of desertification; facilitate networking with all stakeholders; and disseminate information relating to the UNCCD, the real challenge lies in moving the IYDD outcomes away from the conferences, meetings and networks that contributed to their generation, towards a more concrete, tangible effort to conserve deserts and effectively monitor and control desertification and land degradation on the ground

A new dryland development paradigm grounded in empirical analysis of dryland systems science

Global drylands face a host of urgent human and environmental challenges with far-reaching impacts. Improving smallholder agriculture remains a key development pathway to tackle these challenges. The Dryland Development Paradigm (DDP), introduced in 2007, presented a highly influential framework for dryland development based on systems research. This paper empirically derives a new, updated DDP. It assesses recent, cutting-edge dryland science, combining literature review with qualitative and quantitative analysis of research published by the world's largest dryland science and development research initiative. The new DDP comprises eight characteristics that are distilled into three integrative principles: Unpack, Traverse and Share. The new DDP is applied and tested to identify key dryland knowledge and development gaps. A future research agenda is then elucidated, grounded in a research in development approach, in which research anchored in the three integrative principles is embedded within the context it seeks to improve. Supported by greater transdisciplinarity and knowledge co-production, operationalization of the new DDP can deliver both novel scientific insights and development impact in line with the aspirations of the 2030 Sustainable Development Goals

Multidimensional Signal Restoration and Band-Limited Extrapolation, I

Coordinated Science Laboratory was formerly known as Control Systems LaboratoryOffice of Naval Research / N00014-79-C-042

Does Neuromuscular Electrical Stimulation Improve Recovery Following Acute Ankle Sprain? A Pilot Randomised Controlled Trial

Aim: Following soft tissue ankle injury, patients are often referred for out-patient physiotherapy and present symptoms including pain, reduced range of movement and function, and oedema. In this study, we assess the use of a neuromuscular electrical stimulation (NMES) device as an adjunctive therapy to reduce oedema in patients recovering from grade I and II ankle sprains. Methods: This was a single-centre, pilot randomised controlled study, recruiting patients referred to physiotherapy following an ankle sprain. Participants presenting with oedema were randomised to one of two treatment groups: (1) the current standard of care and (2) the current standard of care plus NMES use. Participants were identified in an emergency department and referred to a physiotherapy department for treatment 1 to 5 days following the injury and returned to clinic 7 days later. Results: Twenty-two participants completed the study and had full data sets for analysis (11 in each group). Mean volumetric displacement was reduced in the intervention group in comparison to the standard care group (P = .011); however, there were no between-group differences in figure of eight measurements, function or pain scores. The device was well tolerated, with no device-related adverse events recorded. Conclusions: In this pilot, randomised controlled trial, NMES was well tolerated by patients following ankle sprain and demonstrated statistically significant improvements in oedema reduction as measured by fluid displacement. No other changes were observed. Further work will need to confirm the clinical significance and effect on longer term recovery post-ankle sprain