Adaptive economic management of Australia's urban water. This project responds to the so-called 'wicked problem' of ensuring an adequate supply of water to urban consumers at the lowest price even during long-term droughts. The project will generate, for the first time in the world, an integrated, dynamic, and adaptive supply and demand model to manage urban water optimally over time.
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
Understanding, measuring and managing the benefits of urban waterways. This project aims to improve understanding of the contribution of urban waterways to enhanced liveability in cities. Australia needs better water resource management and the rapid growth of Australia’s cities places increased importance on managing natural assets in metropolitan areas. The project focuses on clarifying the link between the benefits of waterways and the measurement techniques used by economists, which in turn ....Understanding, measuring and managing the benefits of urban waterways. This project aims to improve understanding of the contribution of urban waterways to enhanced liveability in cities. Australia needs better water resource management and the rapid growth of Australia’s cities places increased importance on managing natural assets in metropolitan areas. The project focuses on clarifying the link between the benefits of waterways and the measurement techniques used by economists, which in turn inform management choices. The project aims to fill an important gap between the psychology and economics disciplines and outputs should significantly improve the way waterways are valued and managed. This is intended to offer benefits for urban residents and to improve the methodologies used for environmental valuation.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
Technology Transforming Markets: Large-Scale Field Experiments in Electricity Use. Advances in information technology are transforming electricity markets. Victoria is rolling out ‘smart’ meters, which record half-hourly consumption data. Some retailers also provide web portals that facilitate customer access to this information. Together with an innovative start-up company, this project aims to use large-scale field experiments to evaluate the impact of these technologies on how consumers: use ....Technology Transforming Markets: Large-Scale Field Experiments in Electricity Use. Advances in information technology are transforming electricity markets. Victoria is rolling out ‘smart’ meters, which record half-hourly consumption data. Some retailers also provide web portals that facilitate customer access to this information. Together with an innovative start-up company, this project aims to use large-scale field experiments to evaluate the impact of these technologies on how consumers: use electricity; opt for new pricing plans; and switch retailers. The aims have important implications for environmental policies designed to conserve energy, for consumer choice and welfare, and for retail market competitiveness.Read moreRead less
Understanding cycles in mineral commodity price, a market model with uncertainty. Mining accounts for more than 8% of Australia's GDP, and almost 50% of Australia's total merchandise exports. Understanding phenomenological mechanisms for price fluctuations and using our dynamic price model can help determine better timing of investments in mining infrastructure. This knowledge will help Australia benefit from the upside of commodity 'cycles', super or not. The market model that will be develope ....Understanding cycles in mineral commodity price, a market model with uncertainty. Mining accounts for more than 8% of Australia's GDP, and almost 50% of Australia's total merchandise exports. Understanding phenomenological mechanisms for price fluctuations and using our dynamic price model can help determine better timing of investments in mining infrastructure. This knowledge will help Australia benefit from the upside of commodity 'cycles', super or not. The market model that will be developed in this project can be used to assist in better planning for commodity cycle upside, improving the overall efficiency of capital utilisation in the long term.Read moreRead less
Special Research Initiatives - Grant ID: SR0354852
Funder
Australian Research Council
Funding Amount
$10,000.00
Summary
Sustainable Regions for a Competitive Australia. How can metropolitan, rural and remote regions balance economic and job growth, with environmental and social sustainability? This Initiative establishes a Network of researchers to work collaboratively on questions of environmental best practice, community development, regional governance, labour markets, economic development and technology transfer. The Network's vision is to find ways to use existing and future research to help make Australia ....Sustainable Regions for a Competitive Australia. How can metropolitan, rural and remote regions balance economic and job growth, with environmental and social sustainability? This Initiative establishes a Network of researchers to work collaboratively on questions of environmental best practice, community development, regional governance, labour markets, economic development and technology transfer. The Network's vision is to find ways to use existing and future research to help make Australia's regions more competitive on world markets and more environmentally sustainable, and to help build stronger regional communities. The Network cuts across traditional discipline boundaries to find integrated solutions to the real problems confronting Australian regions.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