Carbon pricing and its impacts on the productivity growth of Australian industries. This project seeks to investigate the effects of carbon pricing on the productivity of Australian industries. It will provide important insights into the issues of productivity growth and technical efficiency for Australian industries following the imposition of a price on carbon, implemented either through a carbon tax or a carbon trading scheme.
Australian Laureate Fellowships - Grant ID: FL120100034
Funder
Australian Research Council
Funding Amount
$2,002,560.00
Summary
Black swans and unknown unknowns: financial markets and their interaction with the macroeconomy in the presence of unanticipated contingencies. Unforeseen contingencies, also called 'black swans' or 'unknown unknowns' pose serious difficulties for decisionmakers. This project will examine how financial regulation can be improved to reduce the vulnerability of the financial system and the macroeconomy to unforeseen shocks.
'Fixed points': extending and deepening our understanding of mathematical and computational aspects of game theory. This work will extend and deepen our understanding of mathematical and computational aspects of game theory. It will produce computer code embodying new methods of solving systems of nonlinear equations, which is useful in many areas of applied research in economics, in other disciplines such as chemistry, and potentially in the analysis of business operations. The project will a ....'Fixed points': extending and deepening our understanding of mathematical and computational aspects of game theory. This work will extend and deepen our understanding of mathematical and computational aspects of game theory. It will produce computer code embodying new methods of solving systems of nonlinear equations, which is useful in many areas of applied research in economics, in other disciplines such as chemistry, and potentially in the analysis of business operations. The project will also deepen our understanding of the underlying mathematics of such systems, and of other mathematical foundations of economic research. One application will be a new measure of the relative power resulting from voting rules. Such measures assist the design of democratic institutions by allowing the designer to assess the fairness of the outcomes they produce.Read moreRead less
Honesty and efficiency in the provision of expert services: doctors and other experts as participants in economic experiments. Experts serve us when we see the doctor, the financial planner or the car mechanic. In all these case the expert can take advantage of his superior knowledge and sell us something we do not need. This research will inform policy makers about the underlying motives of real world experts and allow them to design better institutions.
Understanding and Modeling Individual Choices in Applied Economics. The fellowship will create a critical mass of researchers in choice modeling theory and methods in areas that Australia needs to sustain economic progress and plan for the future. It will significantly advance knowledge in several major areas: design of health insurance markets; tests for adverse selection in insurance markets; ability of people to plan for retirement (superannuation choices); ability of people to plan and choos ....Understanding and Modeling Individual Choices in Applied Economics. The fellowship will create a critical mass of researchers in choice modeling theory and methods in areas that Australia needs to sustain economic progress and plan for the future. It will significantly advance knowledge in several major areas: design of health insurance markets; tests for adverse selection in insurance markets; ability of people to plan for retirement (superannuation choices); ability of people to plan and choose in dynamic environments; and decisions to adopt new technologies/products in evolving technology markets. The outcome will be new ways to understand and predict choices that can significantly improve practices in business and other organisations.Read moreRead less
Welfare Economic Issues in the New Classical Economic Framework of Inframarginal Analysis (renewal application). The CIs have developed a framework analysing the classical but largely ignored problems of division of labour. The 2001-2 project extends the framework to examine welfare issues and public policies, including government encouragement of infrastructure, organisational effects of externality-corrective taxes, work ethics and the optimal working week. The proposed extension to this res ....Welfare Economic Issues in the New Classical Economic Framework of Inframarginal Analysis (renewal application). The CIs have developed a framework analysing the classical but largely ignored problems of division of labour. The 2001-2 project extends the framework to examine welfare issues and public policies, including government encouragement of infrastructure, organisational effects of externality-corrective taxes, work ethics and the optimal working week. The proposed extension to this research will address the more fundamental issue of the Pareto optimality of general equilibrium in the new framework and extend the existing analyses to be of more practical relevance with more immediate policy implications.Read moreRead less
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
Are claims of transparency to be believed? This project tests if leaders, when given a choice, actually reveal a preference for transparency (that is to share all relevant information with their followers). This project analyses the circumstances under which leaders choose transparency and how their decisions and their reputations for transparency affect followers' behaviour and overall group cooperation.
Productivity Measurement, Drivers and Trends: A New Analytical Framework. Significant problems exist in the measurement of productivity and hence its understanding, impeding informed policy formulation. This project aims to advance new concepts and methods for productivity measurement that have the potential to improve policy and national welfare, with special attention to: productivity in the mining industry, which has been a particular problem for Australia; the increased holding of precaution ....Productivity Measurement, Drivers and Trends: A New Analytical Framework. Significant problems exist in the measurement of productivity and hence its understanding, impeding informed policy formulation. This project aims to advance new concepts and methods for productivity measurement that have the potential to improve policy and national welfare, with special attention to: productivity in the mining industry, which has been a particular problem for Australia; the increased holding of precautionary cash balances by firms during financial crises, representing underutilised resources; examination of firm productivity dynamics, without assuming the possibility of disappearing technology capability that is used in standard models; and a more realistic approach to capitalisation of research and development and other intangible investments.Read moreRead less
Microeconomics of Professional Sporting Competitions and Labour Markets. This project will undertake theoretical and empirical research on the operation of labour markets in professional sporting competitions. It will examine two main topics - the effects of labour market regulations in sporting competitions; and the determinants of job tenure and job mobility of players and coaches. The main expected outcomes are new theories of how sporting competitions operate, and for the determinants of j ....Microeconomics of Professional Sporting Competitions and Labour Markets. This project will undertake theoretical and empirical research on the operation of labour markets in professional sporting competitions. It will examine two main topics - the effects of labour market regulations in sporting competitions; and the determinants of job tenure and job mobility of players and coaches. The main expected outcomes are new theories of how sporting competitions operate, and for the determinants of job tenure; and original empirical evidence on these issues. The significance of the research derives from its potential contribution to international knowledge of how labour markets operate, and to the improved operation of sporting competitions.Read moreRead less