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
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
Innovation in agricultural sector Green House Gas abatement in NSW. This project aims to develop a land sector greenhouse gas abatement, food production and environmental economics model for NSW. We expect to identify innovation in carbon payment policy and brokerage business models to achieve agricultural GHG abatement, while simultaneously improving sustainability. Expected outcomes include evaluation of the innovations of expert landholders, related businesses and governments to find ways to ....Innovation in agricultural sector Green House Gas abatement in NSW. This project aims to develop a land sector greenhouse gas abatement, food production and environmental economics model for NSW. We expect to identify innovation in carbon payment policy and brokerage business models to achieve agricultural GHG abatement, while simultaneously improving sustainability. Expected outcomes include evaluation of the innovations of expert landholders, related businesses and governments to find ways to influence land use decisions. This should provide significant benefits to landholders, governments involved in land management and the public through increased productivity, profitability, biodiversity and ecosystem health in the context of future climate, agricultural commodity and carbon market uncertainties.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
Special Research Initiatives - Grant ID: SR0354472
Funder
Australian Research Council
Funding Amount
$10,000.00
Summary
The Economic Design Network. The Economic Design Network will integrate research, communication, education, and policy development in the rapidly emerging discipline of Economic Design in complex systems.
Based on the core disciplines of Economic Theory and Experimental Economics, but with extensive links into other areas of economics and interdisciplinary policy, it is concerned with the design of institutions and policies when rational economic agents (individuals or firms) are embedded in c ....The Economic Design Network. The Economic Design Network will integrate research, communication, education, and policy development in the rapidly emerging discipline of Economic Design in complex systems.
Based on the core disciplines of Economic Theory and Experimental Economics, but with extensive links into other areas of economics and interdisciplinary policy, it is concerned with the design of institutions and policies when rational economic agents (individuals or firms) are embedded in complex biological, social or technological systems. Examples of such systems include the bioeconomic and biophysical systems of the Murray Darling Basin, telecommunication networks and the internet, power distribution grids and markets, health and insurance networks, and information networks (including systems of intellectual property). Economic design principles are fundamental to many current policy debates.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
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
Discovery Early Career Researcher Award - Grant ID: DE190101167
Funder
Australian Research Council
Funding Amount
$410,000.00
Summary
The environmental costs and benefits of special economic zones. This project aims to evaluate the environmental impacts of the spatial concentration of firms. Taking advantage of increasing availability of geo-referenced economic data, the project will evaluate the environmental costs and benefits of policies to promote industrial clusters in China, India, and Colombia. The collected datasets will match trends in firm-level emissions imputed from accounting data to ambient pollution measures der ....The environmental costs and benefits of special economic zones. This project aims to evaluate the environmental impacts of the spatial concentration of firms. Taking advantage of increasing availability of geo-referenced economic data, the project will evaluate the environmental costs and benefits of policies to promote industrial clusters in China, India, and Colombia. The collected datasets will match trends in firm-level emissions imputed from accounting data to ambient pollution measures derived from ground monitors and satellites. This project will investigate the interactions between economic growth and industrial emissions, and provide recommendations based on a better understanding of whether industrial clusters mitigate or exacerbate local and global emissions from manufacturing.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