Optimism, Pessimism and Confidence - Their economic impacts. When modelling uncertainty, economists typically assume people utilise well-behaved and precise probabilities. As most people have only the vaguest conception of chances of terrorist acts, of contracting SARS, or of extreme market volatility, this limits usefulness of the standard model in predicting or guiding choice. This project aims to incorporate a richer set of attitudes about uncertainty into economic theory, including impreci ....Optimism, Pessimism and Confidence - Their economic impacts. When modelling uncertainty, economists typically assume people utilise well-behaved and precise probabilities. As most people have only the vaguest conception of chances of terrorist acts, of contracting SARS, or of extreme market volatility, this limits usefulness of the standard model in predicting or guiding choice. This project aims to incorporate a richer set of attitudes about uncertainty into economic theory, including imprecise estimates of chance, optimistic (or pessimistic) bias, and relative confidence. This will enable more rigorous analysis of topics like irrational exuberance (panic), consumer stampedes, and (in)tolerance of risk, thereby improving the measurement of benefits and costs of related actions or policies.Read moreRead less
Building Democracy and Justice after Conflict. Weak governance is a cause of terrorism. Australia is increasingly involved in nation-building projects, both in its region and internationally. This project will build Australia's expertise in the ways that international law can promote democracy and justice after conflict. It will develop guidelines for states and organisations involved in peace and nation-building. The project will thus contribute to safeguarding Australia by increasing Austra ....Building Democracy and Justice after Conflict. Weak governance is a cause of terrorism. Australia is increasingly involved in nation-building projects, both in its region and internationally. This project will build Australia's expertise in the ways that international law can promote democracy and justice after conflict. It will develop guidelines for states and organisations involved in peace and nation-building. The project will thus contribute to safeguarding Australia by increasing Australia's capacity to engage with, and interpret itself to, its neighbours and the broader international community, as well as by tackling the threat of terrorism.Read moreRead less