Using Heart Rate Variability measurements to identify the effects of stress on decision making. Rationality and the willingness to cooperate is an important aspect of human decision making. Research shows that certain decisions not only cause stress but are also affected by it. Using modern mobile heart rate monitors, we are able to measure causes and consequences of stress in a controlled and natural environment. This research will help to provide better workplace environments by helping to des ....Using Heart Rate Variability measurements to identify the effects of stress on decision making. Rationality and the willingness to cooperate is an important aspect of human decision making. Research shows that certain decisions not only cause stress but are also affected by it. Using modern mobile heart rate monitors, we are able to measure causes and consequences of stress in a controlled and natural environment. This research will help to provide better workplace environments by helping to design better organisations, decreasing the probability of workplace accidents, and advising employees how to better use their talents. This research also helps put Australia on the forefront of modern economic research that aims to open the ultimate "black box" of human decision making.Read moreRead less
The Economic Measurement of Property Markets: Prices, Bubbles, Economic Growth and Productivity. In collaboration with property fund manager and investor CorVal, and with the participation of the industry leader in benchmarking, property research and metrics, IPD Australia and New Zealand, this project aims to examine the economic measurement of property markets. Mathematical and statistical models aim to be developed for exploiting a large quantity of data made available at aggregate (economy w ....The Economic Measurement of Property Markets: Prices, Bubbles, Economic Growth and Productivity. In collaboration with property fund manager and investor CorVal, and with the participation of the industry leader in benchmarking, property research and metrics, IPD Australia and New Zealand, this project aims to examine the economic measurement of property markets. Mathematical and statistical models aim to be developed for exploiting a large quantity of data made available at aggregate (economy wide) and disaggregate (local area government) levels. The findings aim to contribute to an improved understanding of property price bubbles, concepts of market disequilibrium, and the role of the property market as a source of economic growth and productivity.Read moreRead less
Economic Analysis of an Environmental Challenge: Salinity, Uncertainty and Property. The applicability of standard property-rights solutions to complex environmental issues such as salinity is examined. Water and carbon trading, as well as issues relating to agricultural land management are addressed. In particular, the use of price instruments as a potentially more attractive mechanism than standard quantity instruments for achieving desirable outcomes is examined. The project will exploit and ....Economic Analysis of an Environmental Challenge: Salinity, Uncertainty and Property. The applicability of standard property-rights solutions to complex environmental issues such as salinity is examined. Water and carbon trading, as well as issues relating to agricultural land management are addressed. In particular, the use of price instruments as a potentially more attractive mechanism than standard quantity instruments for achieving desirable outcomes is examined. The project will exploit and extend recent theoretical developments in modelling under conditions of uncertainty, and the use of price and quantity instruments in regulatory contexts.Read moreRead less
New Directions in Information Economics and Environmental Policy. Recent developments in economic theory, experimental economics, information systems and biophysical modelling have made possible a new generation of policy instruments that can be applied in environmental economics. A recent pilot study of biodiversity preservation auctions in Victoria has demonstrated the practicality in principle of these techniques. We will build on this pilot study to develop practical policy instruments based ....New Directions in Information Economics and Environmental Policy. Recent developments in economic theory, experimental economics, information systems and biophysical modelling have made possible a new generation of policy instruments that can be applied in environmental economics. A recent pilot study of biodiversity preservation auctions in Victoria has demonstrated the practicality in principle of these techniques. We will build on this pilot study to develop practical policy instruments based on these principles.Read moreRead less
Designing Innovative Allocation Mechanisms for Public Policy. This project applies modern techniques of game theory, auction theory, and experimental economics to public policy design. It can deliver public benefits across a broad front by introducing and demonstrating a new policy design methodology to Australia, by delivering better policy design on specific projects, by building capacity, and by creating a network of collaborators including both University researchers and public sector policy ....Designing Innovative Allocation Mechanisms for Public Policy. This project applies modern techniques of game theory, auction theory, and experimental economics to public policy design. It can deliver public benefits across a broad front by introducing and demonstrating a new policy design methodology to Australia, by delivering better policy design on specific projects, by building capacity, and by creating a network of collaborators including both University researchers and public sector policy experts.Read moreRead less
Tackling the Tough Problems in Productivity Measurement: Infrastructure, Services and R&D. Productivity is seen as a main driver of economic growth and welfare improvements. Productivity indexes are used in a variety of policy contexts, in particular in determining the effectiveness (or otherwise) of government policies. Most industrialized countries have productivity accounts, but measurement problems persist and may even be more problematic in the future given an expansion in new goods and ser ....Tackling the Tough Problems in Productivity Measurement: Infrastructure, Services and R&D. Productivity is seen as a main driver of economic growth and welfare improvements. Productivity indexes are used in a variety of policy contexts, in particular in determining the effectiveness (or otherwise) of government policies. Most industrialized countries have productivity accounts, but measurement problems persist and may even be more problematic in the future given an expansion in new goods and services. Improved productivity measurement and an improved understanding of its sources can inform aggregate and regional policy. The project includes collaboration with the Australian Bureau of Statistics and the Productivity Commission, with the participation of the Reserve Bank of Australia.Read moreRead less