PhD studentship: Statistical analysis of risk, failure, and extreme event propagation in the airline industry using multi-level networks

Supervised by Dr Reuben O’Dea and Prof Frank Ball. External supervision: Dr
Gilles Stupfler (ENSAI & CREST) and Dr Yves van Gennip (TU Delft).

This PhD project will be based at the University of Nottingham in the
School of Mathematical Sciences.

The goal of this PhD project is to build a mathematical model for the
spread of risk due to extreme events on multi-level networks and use
advanced mathematical tools such as extreme value theory, modern results of
mathematical statistics, and network theory, to analyse the model and
compare the quantitative outcomes to real data. In particular, we will
study this in the setting of the airline industry where failure of an
electronic or mechanical component of an aircraft has an impact at the
level of the component supply network, the airline network, and the
airlines’ insurer network. In the airline industry, each airline forms
relationships with component manufacturers and insurers.

The key goals of this project are to

– estimate the probability that an extreme event on one level of the
network has significant consequences on another level;
– model the costs of such extreme events for the different actors in the
various layers of the network.

Of particular interest is the estimation of the probability of failure of a
critical component in an aircraft and the frequency with which such a
failure results in a catastrophic event for an airline and ultimately in an
extreme loss for insurers.

The work will be conducted in close collaboration with Russell Group, a
company providing leading risk management software and service to insurers
and reinsurers, especially in the airline industry. The company will
provide data from the airline industry to incorporate in this project.

*Summary*: The project is open to UK students as well as non-UK EU students
under certain conditions (enquire at the email addresses below) – Tuition
fees paid, and an enhanced stipend of £19,500 per annum. There will also be
some support available for you to claim for travel and computing equipment
costs. The scholarship length will be 4 years.

*Apply:* The studentship is to start as soon as possible or at the latest
by 1 October 2020. To apply please visit the University of Nottingham
application page:
http://www.nottingham.ac.uk/pgstudy/apply/apply-online.aspx

For any enquiries please email: reuben.odea@nottingham.ac.uk and/or
frank.ball@nottingham.ac.uk.

A more complete description of the project can be found at

https://www.findaphd.com/phds/project/statistical-analysis-of-risk-failure-and-extreme-event-propagation-in-the-airline-industry-using-multi-level-networks/?p119795