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
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
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
The economics of (mis)information in the age of social media. New media technologies allow anyone to broadcast their views, leading to a “cacophony of voices” where misinformation flourishes. Tools from information economics are tailor-made for understanding information consumption in settings with many biased news sources. We develop economic models where many sources compete to attract and influence heterogenous listeners. We then study how misinformation spreads and amplifies when consumers ....The economics of (mis)information in the age of social media. New media technologies allow anyone to broadcast their views, leading to a “cacophony of voices” where misinformation flourishes. Tools from information economics are tailor-made for understanding information consumption in settings with many biased news sources. We develop economic models where many sources compete to attract and influence heterogenous listeners. We then study how misinformation spreads and amplifies when consumers of information communicate with many others through a social network. Finally, we study how to design simple and robust rules to foster informative discourse and filter misinformation. The results will shape economic policy recommendations for regulating misinformation in media platforms and social media.Read moreRead less
Multidisciplinary analysis of financial reference points and wellbeing. The aim is to find how to improve financial decisions (i) during unexpected economic shocks, and (ii) by the socially disadvantaged. The project will produce the first large-scale evidence on heterogeneity in benchmarks (reference points) against which people evaluate financial alternatives and the role of such benchmarks in financial risk-taking and in creating and perpetuating economic inequality. The expected outcomes inc ....Multidisciplinary analysis of financial reference points and wellbeing. The aim is to find how to improve financial decisions (i) during unexpected economic shocks, and (ii) by the socially disadvantaged. The project will produce the first large-scale evidence on heterogeneity in benchmarks (reference points) against which people evaluate financial alternatives and the role of such benchmarks in financial risk-taking and in creating and perpetuating economic inequality. The expected outcomes include transformed interdisciplinary understanding of financial decisions and significantly greater capacity for multidisciplinary collaboration. The findings will inform policy on promoting financial wellbeing and to mitigate the devastating effects of sudden economic shocks such as that of COVID-19.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
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
Changing Institutions to Mitigate Gender Leadership Gaps: Power of Defaults. This project aims to improve diversity in organisations by investigating a simple yet novel institutional change that can increase women’s participation in leadership. This involves a change in the default used for leadership selection, from an opt-in to an opt-out mechanism. This project expects to generate new knowledge in the area of diversity and inclusion by showing how appropriate choice of defaults can reduce lab ....Changing Institutions to Mitigate Gender Leadership Gaps: Power of Defaults. This project aims to improve diversity in organisations by investigating a simple yet novel institutional change that can increase women’s participation in leadership. This involves a change in the default used for leadership selection, from an opt-in to an opt-out mechanism. This project expects to generate new knowledge in the area of diversity and inclusion by showing how appropriate choice of defaults can reduce labour market gaps and inequality. Expected outcomes include understanding mechanisms underlying the gender default effect both in the short and long run which will help identify appropriate interventions that can be scaled up. Insights gained should provide significant benefits by improving workplace diversity and productivity.Read moreRead less
Economics of Biased Beliefs: Implications for Diversity Gaps in Workplaces. By developing state-of-the-art experimental and behavioural methodologies to study biased belief formation, this project aims to improve our understanding of the factors contributing to diversity gaps in labour market outcomes in Australia. The project investigates biases in the beliefs formed about the performance of women and minorities, and how these biases can be reduced through policy interventions and improved orga ....Economics of Biased Beliefs: Implications for Diversity Gaps in Workplaces. By developing state-of-the-art experimental and behavioural methodologies to study biased belief formation, this project aims to improve our understanding of the factors contributing to diversity gaps in labour market outcomes in Australia. The project investigates biases in the beliefs formed about the performance of women and minorities, and how these biases can be reduced through policy interventions and improved organisational structures. Expected outcomes include informing policy makers of appropriate interventions and expanding scholarly knowledge of the economic impact of discrimination. The insights gained will enhance Australia’s economic performance by improving workplace diversity and dynamics.Read moreRead less
Information acquisition and voting behaviour. This project aims to understand citizens’ decisions to acquire information about different policy proposals within a democracy and how such information affects their voting behaviour. Proper democracies rely on the informed participation of their citizens in the political debate and political institutions. The project intends to provide formal theories of information acquisition together with empirical evidence on how voting decisions are shaped by t ....Information acquisition and voting behaviour. This project aims to understand citizens’ decisions to acquire information about different policy proposals within a democracy and how such information affects their voting behaviour. Proper democracies rely on the informed participation of their citizens in the political debate and political institutions. The project intends to provide formal theories of information acquisition together with empirical evidence on how voting decisions are shaped by the quantity and quality of information. Understanding how citizens decide to acquire information would help devise policies to reduce polarisation and improve the quality of the political debate and the democracy.Read moreRead less