A New framework to improve human-robot interaction in financial markets. This project aims to investigate the interaction of humans with robots (automated, algorithmic traders) in financial markets. It will build a novel environment based on controlled experiments within the context of financial markets. It is expected to discover how market participants choose to engage robots, and when and why robots are disengaged. The project will also investigate how the use of robots affects price behavio ....A New framework to improve human-robot interaction in financial markets. This project aims to investigate the interaction of humans with robots (automated, algorithmic traders) in financial markets. It will build a novel environment based on controlled experiments within the context of financial markets. It is expected to discover how market participants choose to engage robots, and when and why robots are disengaged. The project will also investigate how the use of robots affects price behaviour, and efficiency of allocation. This will provide significant benefits, such as enhancing Australia’s capacity for the scientific study of financial markets and for developing financial technology using an experimental method.Read moreRead less
Price-Setting Rules and Allocative Efficiency in Oligopolies. This project aims to investigate under which circumstances restrictions on how often firms can change prices increase competition in an oligopoly and bring down prices. For this, we propose the use of laboratory experiments with a novel design followed by field experiments and a real price-data analysis for external validation. This study will result in both the advancement of theory describing how firms compete in dynamic oligopolies ....Price-Setting Rules and Allocative Efficiency in Oligopolies. This project aims to investigate under which circumstances restrictions on how often firms can change prices increase competition in an oligopoly and bring down prices. For this, we propose the use of laboratory experiments with a novel design followed by field experiments and a real price-data analysis for external validation. This study will result in both the advancement of theory describing how firms compete in dynamic oligopolies and practical policy advice on how price setting rules can be used to improve consumer welfare. This project has the potential to generate sizable benefits to Australian consumers, as the resulting policy advice would be applicable to large markets such as those for petrol, groceries and online retail.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE190100887
Funder
Australian Research Council
Funding Amount
$375,000.00
Summary
Economic analysis of time constraints on decision-making in health. This project aims to determine whether and how time constraints affect decision-making. Time constraints can impair the quality of decisions in health, resulting in serious medical and financial consequences. This project will employ experimental economic methods to examine how misaligned preferences and incentives influence decision-making under time constraints. The project will offer scientific evidence and accurate measureme ....Economic analysis of time constraints on decision-making in health. This project aims to determine whether and how time constraints affect decision-making. Time constraints can impair the quality of decisions in health, resulting in serious medical and financial consequences. This project will employ experimental economic methods to examine how misaligned preferences and incentives influence decision-making under time constraints. The project will offer scientific evidence and accurate measurements, provide insights into interventions to align the preferences of doctors and patients, and to lower the overtreatment of patients in the health-care market. The project expects to benefit society and contribute to a more efficient healthcare system.Read moreRead less
Neuroeconomic foundations of probability and value perception. This project aims to investigate well-known behavioural “biases” in probability and value perception through the lens of neurobiology. This project will generate new knowledge on how the value of rewards, and the likelihood of receiving them, are incorporated in the decision-making process. Using an interdisciplinary approach, this project will be of interest to researchers from several domains of social science, which focus on how a ....Neuroeconomic foundations of probability and value perception. This project aims to investigate well-known behavioural “biases” in probability and value perception through the lens of neurobiology. This project will generate new knowledge on how the value of rewards, and the likelihood of receiving them, are incorporated in the decision-making process. Using an interdisciplinary approach, this project will be of interest to researchers from several domains of social science, which focus on how and why people make their decisions and how we could improve people’s wellbeing by improving their choices. The findings will provide insights into effective, behaviour-related policy design that aims to improve peoples’ well-being.Read moreRead less
Information design, cognitive abilities and macro-economic stability. This project aims to improve our understanding of individual decision making in financial markets and its implications for macro-economic stability. Using laboratory and internet experiments, models of adaptive choice behaviour will be developed and validated. The project will help to gain insight into how past information, and the way it is presented, affects investment decisions, which individual characteristics matter for d ....Information design, cognitive abilities and macro-economic stability. This project aims to improve our understanding of individual decision making in financial markets and its implications for macro-economic stability. Using laboratory and internet experiments, models of adaptive choice behaviour will be developed and validated. The project will help to gain insight into how past information, and the way it is presented, affects investment decisions, which individual characteristics matter for decisions, and how this behaviour translates into the evolution of aggregate macro-economic variables. The expected outcomes of the project will have the potential to improve the design of tools for better individual financial decision making, to stabilize volatile markets and to enhance economic welfare.Read moreRead less
Testing strategy-proofness in matching markets: an experimental study. This project seeks to test and improve matching algorithms by investigating the effect of advice on strategy-proofness. Matching algorithms are used to solve allocation problems in designed markets (eg school or house allocation problems). Many of the algorithms employed are strategy-proof: participants never gain from strategising, that is, from lying about their preferences. Strategy-proofness had been seemingly validated b ....Testing strategy-proofness in matching markets: an experimental study. This project seeks to test and improve matching algorithms by investigating the effect of advice on strategy-proofness. Matching algorithms are used to solve allocation problems in designed markets (eg school or house allocation problems). Many of the algorithms employed are strategy-proof: participants never gain from strategising, that is, from lying about their preferences. Strategy-proofness had been seemingly validated by experimental research, but new evidence suggests that participants could be prone to follow wrong advice and therefore lie. In order to improve the performance of designed markets, the project proposes to further test strategy-proofness by investigating how advice can affect truth-telling in strategy-proof algorithms and whether learning can counteract or complement the effect of advice.Read moreRead less
Market Design for the Reallocation of Land. This fellowship uses laboratory and lab-in-the-field experiments to explores how market design can be used to develop combinatorial exchanges that allow participants to exchange packages of land. Allowing for package bids can facilitate trade in situations where owning one piece of land increases the value of adjacent land and where assembling contiguous pieces of land is important. Combinatorial exchanges have the potential to increase the productivit ....Market Design for the Reallocation of Land. This fellowship uses laboratory and lab-in-the-field experiments to explores how market design can be used to develop combinatorial exchanges that allow participants to exchange packages of land. Allowing for package bids can facilitate trade in situations where owning one piece of land increases the value of adjacent land and where assembling contiguous pieces of land is important. Combinatorial exchanges have the potential to increase the productivity of agriculture land in both Australia and developing countries, encourage urban redevelopment, and help the government secure land for infrastructure and environmental protection in a cost-effective way.Read moreRead less
Behavioural Econ & Field Experiments to Improve Plasma & Bone Marrow Supply. Plasma and bone marrow save and improve the quality of many lives. Yet Australia's domestic volunteer supply fails to meet Australia's needs even when supplemented by costly imports. This project involves a series of field experiments, based on behavioural economic theories, designed to understand charitable behaviour and how to motivate and increase plasma and bone marrow supply. The project aims to test the value of m ....Behavioural Econ & Field Experiments to Improve Plasma & Bone Marrow Supply. Plasma and bone marrow save and improve the quality of many lives. Yet Australia's domestic volunteer supply fails to meet Australia's needs even when supplemented by costly imports. This project involves a series of field experiments, based on behavioural economic theories, designed to understand charitable behaviour and how to motivate and increase plasma and bone marrow supply. The project aims to test the value of motivational factors, including commitment devices, reciprocity and altruism, to increasing donations. The project aims to advance scientific knowledge of people's motivation to perform substantial altruistic actions (in terms of both time and pain), to provide effective methods to increase donations that save lives and to improve national health.Read moreRead less
Voter behaviour and polarisation: The role of social preferences. This project aims to investigate how peer pressure and other social concerns affect voter participation, vote choice, and political polarisation. It will marry behavioural experimental economics with political economics and make use of complementary experimental methods that will allow for the study of carefully controlled elections, followed by a large-scale real-world test of the results. Expected outcomes include improved under ....Voter behaviour and polarisation: The role of social preferences. This project aims to investigate how peer pressure and other social concerns affect voter participation, vote choice, and political polarisation. It will marry behavioural experimental economics with political economics and make use of complementary experimental methods that will allow for the study of carefully controlled elections, followed by a large-scale real-world test of the results. Expected outcomes include improved understanding of how social media and other social factors, and political institutions such as compulsory voting, distort election representation and outcomes. Major benefits include the ability to advise policies to reduce polarisation and improve political institutions to ensure they reflect true societal preferences.Read moreRead less
An economic study of charitable giving. This project aims to study the motivations for charitable giving and helping behaviour and how these motivations interact with external factors under different institutions.Recent data from 2015 show that charitable donations in Australia have fallen to a 30-year low. Although real GDP has increased, inequality has risen. Social norms and perceptions relating to disadvantaged people can influence donor motivations. The anticipated goal is to design initiat ....An economic study of charitable giving. This project aims to study the motivations for charitable giving and helping behaviour and how these motivations interact with external factors under different institutions.Recent data from 2015 show that charitable donations in Australia have fallen to a 30-year low. Although real GDP has increased, inequality has risen. Social norms and perceptions relating to disadvantaged people can influence donor motivations. The anticipated goal is to design initiatives that influence prosocial activities such as charitable giving, redistribution, refugee intake and migrant integration, and improve understanding of the underlying mechanisms of prosocial behaviour.Read moreRead less