Discovery Early Career Researcher Award - Grant ID: DE230100557
Funder
Australian Research Council
Funding Amount
$445,880.00
Summary
The Behavioural Economics of Inheritance Litigation. Australians are witnessing the greatest intergenerational wealth transfer in history. Unfortunately, more and more families are going to court over inheritance. These disputes tear families apart and impose excessive costs on families and the courts. This project applies legal, behavioural economic and statistical methods to study inheritance battles. It seeks to generate new knowledge about the drivers of inheritance litigation, in order to m ....The Behavioural Economics of Inheritance Litigation. Australians are witnessing the greatest intergenerational wealth transfer in history. Unfortunately, more and more families are going to court over inheritance. These disputes tear families apart and impose excessive costs on families and the courts. This project applies legal, behavioural economic and statistical methods to study inheritance battles. It seeks to generate new knowledge about the drivers of inheritance litigation, in order to make it cost-effective. Its expected outcomes include behavioural economic models of inheritance litigation to predict what cost-reduction strategies will work; a large database of real-world inheritance cases to test these predictions; and robust law-reform recommendations to reduce litigation costs.Read moreRead less
Multidisciplinary analysis of financial reference points and wellbeing. The aim is to find how to improve financial decisions (i) during unexpected economic shocks, and (ii) by the socially disadvantaged. The project will produce the first large-scale evidence on heterogeneity in benchmarks (reference points) against which people evaluate financial alternatives and the role of such benchmarks in financial risk-taking and in creating and perpetuating economic inequality. The expected outcomes inc ....Multidisciplinary analysis of financial reference points and wellbeing. The aim is to find how to improve financial decisions (i) during unexpected economic shocks, and (ii) by the socially disadvantaged. The project will produce the first large-scale evidence on heterogeneity in benchmarks (reference points) against which people evaluate financial alternatives and the role of such benchmarks in financial risk-taking and in creating and perpetuating economic inequality. The expected outcomes include transformed interdisciplinary understanding of financial decisions and significantly greater capacity for multidisciplinary collaboration. The findings will inform policy on promoting financial wellbeing and to mitigate the devastating effects of sudden economic shocks such as that of COVID-19.Read moreRead less