Presumed Guilty: An Economics Analysis of the Efficiency of Environmental Bonds for the WA Mining Sector. Environmental bonds have two important economic effects. First they give an incentive for mining firms to manage environmental damage and second they prevent excessive costs falling on the regulator in the case of bankruptcy. The aim of this project is to assess if this policy can be redesigned to increase its economic efficiency.
Bioeconomic Modelling of Marine Reserves. Australian waters contain a huge range of biodiversity, but are under threat from human activities. To face this challenge and resolve the problems of depleted fisheries and habitat destruction, innovative approaches are required to integrate marine biology with fisheries economics. The research meets this immediate need by developing bioeconomic models of marine reserves to determine reserve location and size, and analyse interactions between reserves a ....Bioeconomic Modelling of Marine Reserves. Australian waters contain a huge range of biodiversity, but are under threat from human activities. To face this challenge and resolve the problems of depleted fisheries and habitat destruction, innovative approaches are required to integrate marine biology with fisheries economics. The research meets this immediate need by developing bioeconomic models of marine reserves to determine reserve location and size, and analyse interactions between reserves and harvested areas under environmental uncertainty. The models will be developed using the latest developments in economics, biology and numerical methods and will be used to conserve Australia's marine biodiversity and improve fisheries management.Read moreRead less
Determining urban water conservation and management strategies: a novel approach using field experiment and survey data. The project's national benefits are consistent with the research priorities that evaluate an environmentally sustainable Australia through efficient and sustainable water use. The project explores how households react to different demand side instruments and identifies water saving strategies preferred by the public. The findings can be used by decision-makers to select eff ....Determining urban water conservation and management strategies: a novel approach using field experiment and survey data. The project's national benefits are consistent with the research priorities that evaluate an environmentally sustainable Australia through efficient and sustainable water use. The project explores how households react to different demand side instruments and identifies water saving strategies preferred by the public. The findings can be used by decision-makers to select effective instruments to enhance water conservation, reduce water consumption and therefore use water sustainably according to Australia's ecological means. Read moreRead less
Combining hydrological information with a multi-regional, computable general equilibrium model. The model to be created will combine a unique amount of economic detail at the statistical division level with hydrological detail. Users will obtain better estimates than previously available on the regional and industrial impacts of different water scenarios. This will produce economic and social returns to the community through improved water policies in the following areas: urban-rural water alloc ....Combining hydrological information with a multi-regional, computable general equilibrium model. The model to be created will combine a unique amount of economic detail at the statistical division level with hydrological detail. Users will obtain better estimates than previously available on the regional and industrial impacts of different water scenarios. This will produce economic and social returns to the community through improved water policies in the following areas: urban-rural water allocation; climate change impact assessment; water reform and water trading; and the economic impacts of meeting environmental objectives. The model will thus provide a path-breaking tool for examining issues arising from COAG reforms and broader policy goals. Read moreRead less
ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environment ....ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environmental policy. By linking Australian mid and early career researchers into multidisciplinary teams based around the world's top experimental economics laboratories, it will create a world class economic design capacity in Australia.Read moreRead less
Development of a Value of Life Framework to Assist Priority Setting Decision Making Across Sectors. The techniques used to evaluate life-saving interventions differ between health and other sectors. In health cost-effectiveness or cost-utility anlaysis is common, avoiding specification of a value for life. In contrast the transport and environment sectors use cost-benefit analysis and value life in monetary terms. This duality of approaches has resulted in a lower implicit value of life in th ....Development of a Value of Life Framework to Assist Priority Setting Decision Making Across Sectors. The techniques used to evaluate life-saving interventions differ between health and other sectors. In health cost-effectiveness or cost-utility anlaysis is common, avoiding specification of a value for life. In contrast the transport and environment sectors use cost-benefit analysis and value life in monetary terms. This duality of approaches has resulted in a lower implicit value of life in the health sector. The research will explore these differences and attempt to identify key attributes that influence how life is valued, to provide a framework for a single approach to the valuation of life, and the more efficient allocation of resources cross-sectorally.Read moreRead less
A framework for prioritising investment in natural resource management. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in We ....A framework for prioritising investment in natural resource management. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in Western Australia, although it is anticipated that the lessons learned could be applied to other NRM policies. The outcome will be a contribution to aid participatory decision making.Read moreRead less
Storage and the Hotelling Valuation Principle: Understanding the Dynamics of the Oil Industry. Understanding the economics of the oil market is important for understanding the shift toward smaller, more fuel-efficient motor vehicles and less fuel-intensive farming techniques. A better understanding of fundamental oil price processes will lead to more accurate oil price forecasting and hence more accurate pricing of oil derivatives (options, futures and swaps) and improved risk management (e.g. ....Storage and the Hotelling Valuation Principle: Understanding the Dynamics of the Oil Industry. Understanding the economics of the oil market is important for understanding the shift toward smaller, more fuel-efficient motor vehicles and less fuel-intensive farming techniques. A better understanding of fundamental oil price processes will lead to more accurate oil price forecasting and hence more accurate pricing of oil derivatives (options, futures and swaps) and improved risk management (e.g. airlines hedging the cost of their jet fuel needs). Read moreRead less
Implementation of a strategic framework for investment for Natural Resource Management: evaluation and development. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a par ....Implementation of a strategic framework for investment for Natural Resource Management: evaluation and development. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in Western Australia, although it is anticipated that the lessons learned could be applied to other NRM policies. The outcome will be a contribution to aid participatory decision making.Read moreRead less
China's Industrialisation and Demand for Energy and Minerals. Understanding China's medium and long-term growth prospects and the implications for both demand and supply of resources are critically important to Australian economic policy and performance, as well as to investment decisions of Australian resource producers, and professional decisions of Australians in a wide range of occupations. Analysis of the medium and long-term demand for resources from China would be beneficial for Australia ....China's Industrialisation and Demand for Energy and Minerals. Understanding China's medium and long-term growth prospects and the implications for both demand and supply of resources are critically important to Australian economic policy and performance, as well as to investment decisions of Australian resource producers, and professional decisions of Australians in a wide range of occupations. Analysis of the medium and long-term demand for resources from China would be beneficial for Australian resource industries. It is also important to Australian budget, education and infrastructure policy. Increasing Chinese demand for resources will be critical in shaping global environmental policies.Read moreRead less