Improving Choice Models: Multiple Goal Pursuit and Multi-Stage Decision Processes. This project aims to develop new econometric models of choice behaviour that recognise individuals adopt “how to decide” strategies when choosing between alternatives. Existing models simplistically assume that people evaluate all goods and choose the best of them, when in fact they ignore some goods, select what information is relevant, pursue multiple goals, and otherwise deviate from the assumptions commonly ma ....Improving Choice Models: Multiple Goal Pursuit and Multi-Stage Decision Processes. This project aims to develop new econometric models of choice behaviour that recognise individuals adopt “how to decide” strategies when choosing between alternatives. Existing models simplistically assume that people evaluate all goods and choose the best of them, when in fact they ignore some goods, select what information is relevant, pursue multiple goals, and otherwise deviate from the assumptions commonly made in econometric models. Filling in this significant gap in the choice modelling literature constitutes a significant contribution to improving our understanding of human decision making and policy analysis in every area of human endeavour.Read moreRead less
Transitioning to a water-secure future in the Basin. Increased water scarcity threatens the viability of the Murray-Darling Basin. There has been little analysis conducted of the consequences of water market impediments. The economic dimensions of trade impediments, water management, water market intervention and the net social benefits of water markets are at the core of this project. In particular, this project aims to explore: the impact of impediments and policy in water markets; how further ....Transitioning to a water-secure future in the Basin. Increased water scarcity threatens the viability of the Murray-Darling Basin. There has been little analysis conducted of the consequences of water market impediments. The economic dimensions of trade impediments, water management, water market intervention and the net social benefits of water markets are at the core of this project. In particular, this project aims to explore: the impact of impediments and policy in water markets; how further water market products may increase water market efficiency; and, the nature and sources of transactions costs in markets. Benefits from this project will enhance resilience and adaptation of irrigators to future climate change and water shortages, as well as providing future policy guidance.Read moreRead less
Accounting for preference seperability in stated choice experiments. This project aims to unite three separate streams of applied economic research into a single framework in order to develop a micro-economically consistent framework for demand forecasting and analysis. Forecasting demand to improve product performance or policy impacts requires realistic representations of how humans actually make choices. Combining theories of preference separability with recent developments in both activity a ....Accounting for preference seperability in stated choice experiments. This project aims to unite three separate streams of applied economic research into a single framework in order to develop a micro-economically consistent framework for demand forecasting and analysis. Forecasting demand to improve product performance or policy impacts requires realistic representations of how humans actually make choices. Combining theories of preference separability with recent developments in both activity and time use modelling and stated choice techniques, the project plans to develop new insights into consumer equilibrium as well as new econometric methods to test for the assumption of preference separability. Project outcomes would lead to an improved understanding of consumer behaviour as well as demand forecasting, with benefits to studies involving the need for benefit cost comparisons.Read moreRead less
Implications of Global Economic Forces for Domestic Monetary Policy. The project aims to quantify and understand the extent to which international factors affect key macroeconomic variables such as inflation and interest rates in open economies. The aims will be achieved through the development and application of new macroeconomic and econometric models. Expected outcomes are new insights and policy recommendations on how to appropriately conduct monetary policy for an open economy such as Austr ....Implications of Global Economic Forces for Domestic Monetary Policy. The project aims to quantify and understand the extent to which international factors affect key macroeconomic variables such as inflation and interest rates in open economies. The aims will be achieved through the development and application of new macroeconomic and econometric models. Expected outcomes are new insights and policy recommendations on how to appropriately conduct monetary policy for an open economy such as Australia. This should provide significant benefits to the broader Australian economy through the conduct of suitable policy by institutions such as the Reserve Bank of Australia.Read moreRead less
The implications for greying Australia of international property market interlinkages. Recent events in global financial markets have had a major effect on the retirement plans of Australians and the living standards of retirees. This research will permit pension fund managers to better gauge the fundamental links that exist across international property markets, as well as provide a better understanding for both academics and practitioners on the driving forces that link international real est ....The implications for greying Australia of international property market interlinkages. Recent events in global financial markets have had a major effect on the retirement plans of Australians and the living standards of retirees. This research will permit pension fund managers to better gauge the fundamental links that exist across international property markets, as well as provide a better understanding for both academics and practitioners on the driving forces that link international real estate markets together. The research will benefit all Australians as the outcomes will result in improved risk and return performance for superannuation funds, leading to a better standard of living for all retirees.Read moreRead less
The paradox of choice: Unravelling complex superannuation decisions. Australia has been a world-leader in retirement savings policy, but there remains a pervasive lack of understanding about how best to communicate complex financial information to decision-makers, along with a push by government for clearer disclosure and greater financial literacy. This project will inform regulators and the superannuation industry on how choices are made and how to present clearer, better-designed information ....The paradox of choice: Unravelling complex superannuation decisions. Australia has been a world-leader in retirement savings policy, but there remains a pervasive lack of understanding about how best to communicate complex financial information to decision-makers, along with a push by government for clearer disclosure and greater financial literacy. This project will inform regulators and the superannuation industry on how choices are made and how to present clearer, better-designed information to be understood by ordinary participants, thus encouraging active, well-informed participation rather than passive 'default' decisions. More efficient investment and benefit choices will improve the economic welfare of retirees, reduce the burden on the working-age population and improve fiscal sustainability.Read moreRead less
Distributional Consequences of Mass-Market Higher Education in Business. Increased access to tertiary education has not been evaluated for its effects on the full spectrum of individuals served by the tertiary sector. Using longitudinal data on entire student populations at university business faculties, this project will provide the first Australian evidence on the trade-offs amongst the educational success of students with different levels of preparation that occur when those with poorer prep ....Distributional Consequences of Mass-Market Higher Education in Business. Increased access to tertiary education has not been evaluated for its effects on the full spectrum of individuals served by the tertiary sector. Using longitudinal data on entire student populations at university business faculties, this project will provide the first Australian evidence on the trade-offs amongst the educational success of students with different levels of preparation that occur when those with poorer preparation are added to classrooms. Short-term performance and medium-term attrition, a recent educational policy focus, will be evaluated. Theoretically grounded recommendations will result for undergraduate program design to suit a student population with varying levels of university preparation.Read moreRead less
Intra-household resource allocations of older couples. This project aims to analyse processes and outcomes within older households using national, large-scale representative data and mixed methods research design. In an ageing population where households are becoming responsible for provisioning retirement needs, understanding what happens in older couple households is important. The project expects to influence policy by generating evidence relevant to the design of regulations governing the al ....Intra-household resource allocations of older couples. This project aims to analyse processes and outcomes within older households using national, large-scale representative data and mixed methods research design. In an ageing population where households are becoming responsible for provisioning retirement needs, understanding what happens in older couple households is important. The project expects to influence policy by generating evidence relevant to the design of regulations governing the allocation of superannuation assets, tax incentives for alternative forms of retirement savings, asset and income tests on the Age Pension, and initiatives targeting older Australians’ financial literacy.Read moreRead less
Supporting dynamic multidimensional entrepreneurial resilience in Australia. This project aims to model entrepreneurial resilience, its formation and its influence on how creative transformation occurs, and whether ex ante adaptive capacity is in turn enhanced by having mastered crises. The project proposes a theoretical model to holistically measure resilience across the life course. Using longitudinal data for self-employed individuals in Australia the project analyses the impact of crisis and ....Supporting dynamic multidimensional entrepreneurial resilience in Australia. This project aims to model entrepreneurial resilience, its formation and its influence on how creative transformation occurs, and whether ex ante adaptive capacity is in turn enhanced by having mastered crises. The project proposes a theoretical model to holistically measure resilience across the life course. Using longitudinal data for self-employed individuals in Australia the project analyses the impact of crisis and economic policy on entrepreneur’s behaviour and SMEs entry exit decisions. The project informs policy making through employing discrete choice experiments to elicit entrepreneur’s preferences for government policy and support post crisis. Read moreRead less
Climate Change and Burden of Disease: Current Risk and Future Burden. Climate change has had a negative impact on human health. However, few studies have assessed burden of diseases (BOD) for these climate-sensitive/heat attributable diseases. We will generate the first national picture of the climate attributable BOD in Australia, measured in Disability-Adjusted Life Year (DALY), the attribution from climate, and project future BOD under various climatic/demographic change scenarios. This proje ....Climate Change and Burden of Disease: Current Risk and Future Burden. Climate change has had a negative impact on human health. However, few studies have assessed burden of diseases (BOD) for these climate-sensitive/heat attributable diseases. We will generate the first national picture of the climate attributable BOD in Australia, measured in Disability-Adjusted Life Year (DALY), the attribution from climate, and project future BOD under various climatic/demographic change scenarios. This project will rank Australian climate-sensitive/heat attributable diseases by their current burden and projected increase under climate changes, and provide needed scientific evidence to policy-makers in the development, prioritization and implementation of current and future climate change and health adaptation strategies. Read moreRead less