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.
Emissions trading and the design and operation of Australia's energy markets. Past research has applied the methods of experimental economics to focus on capacity markets, futures markets, and demand side response management options for electricity markets in the United States of America. This project will examine research priorities for Australia's energy markets. These include market impacts on investment decision-making, trade in Renewable Energy Certificates, and the consequences of carbon e ....Emissions trading and the design and operation of Australia's energy markets. Past research has applied the methods of experimental economics to focus on capacity markets, futures markets, and demand side response management options for electricity markets in the United States of America. This project will examine research priorities for Australia's energy markets. These include market impacts on investment decision-making, trade in Renewable Energy Certificates, and the consequences of carbon emissions trading for energy market outcomes. Australia's electricity markets are primarily financial markets and new policy developments present both risks and opportunities. By designing and testing markets, experiments will be used to test market performance and for unforeseen consequences of new market policies.Read moreRead less