Latent variable modelling of discrete choice experiments. Discrete choice experiments and models are used to forecast consumer responses to changes in products policies and programs worldwide. Recent research suggests key model assumptions are violated because error variances covary with observed and unobserved factors. In order to address this, we will model systematic relationships between error variances and observed (eg, prices, survey length) and unobserved (eg, 'convenience', 'reputation') ....Latent variable modelling of discrete choice experiments. Discrete choice experiments and models are used to forecast consumer responses to changes in products policies and programs worldwide. Recent research suggests key model assumptions are violated because error variances covary with observed and unobserved factors. In order to address this, we will model systematic relationships between error variances and observed (eg, prices, survey length) and unobserved (eg, 'convenience', 'reputation') factors to improve model reliability and accuracy. This should lead to more accurate models/forecasts, benefitting business and government, which addresses the national priority of 'frontier technologies, promoting an innovative culture and economy'.Read moreRead less
Understanding and Modeling Individual Choices in Applied Economics. The fellowship will create a critical mass of researchers in choice modeling theory and methods in areas that Australia needs to sustain economic progress and plan for the future. It will significantly advance knowledge in several major areas: design of health insurance markets; tests for adverse selection in insurance markets; ability of people to plan for retirement (superannuation choices); ability of people to plan and choos ....Understanding and Modeling Individual Choices in Applied Economics. The fellowship will create a critical mass of researchers in choice modeling theory and methods in areas that Australia needs to sustain economic progress and plan for the future. It will significantly advance knowledge in several major areas: design of health insurance markets; tests for adverse selection in insurance markets; ability of people to plan for retirement (superannuation choices); ability of people to plan and choose in dynamic environments; and decisions to adopt new technologies/products in evolving technology markets. The outcome will be new ways to understand and predict choices that can significantly improve practices in business and other organisations.Read moreRead less
Modelling the Choices of Individuals. Individuals make decisions daily and some of these decisions have wide-reaching and long-term consequences, such as choices among housing, public transport, electoral candidates and health care options. The principal aim of this project is to develop reliable and valid ways to model individual level choice processes. Once completed, this will provide insights into ways to aggregate sampled observations when population-level applications are required, and all ....Modelling the Choices of Individuals. Individuals make decisions daily and some of these decisions have wide-reaching and long-term consequences, such as choices among housing, public transport, electoral candidates and health care options. The principal aim of this project is to develop reliable and valid ways to model individual level choice processes. Once completed, this will provide insights into ways to aggregate sampled observations when population-level applications are required, and allow us to compare and test several competing theories of choice behaviour. This will enable us to make contributions to understanding and modelling human decision making in many fields ranging from marketing to medicine.Read moreRead less
Special Research Initiatives - Grant ID: SR0354611
Funder
Australian Research Council
Funding Amount
$30,000.00
Summary
Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, ....Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, etc. Better understanding of such processes will lead to better models, better forecasts and better decision outcomes for Australia, and smarter use of information and data; something that can only come from a multi-disciplinary interaction of theory and method.Read moreRead less
Turning Under-Used Geo-Referenced Data Sources into Business Success. This project focuses on market segmentation and planning strategy through the development of under-used geo-referenced data sources. Specifically, the project seeks to combine two key market intelligence software tools (Geographical Information Systems (GIS) and Data Mining Systems) with the primary focus being on the Australian automobile industry. Spatial data mining approaches will be used to sift through massive volumes o ....Turning Under-Used Geo-Referenced Data Sources into Business Success. This project focuses on market segmentation and planning strategy through the development of under-used geo-referenced data sources. Specifically, the project seeks to combine two key market intelligence software tools (Geographical Information Systems (GIS) and Data Mining Systems) with the primary focus being on the Australian automobile industry. Spatial data mining approaches will be used to sift through massive volumes of data, uncover patterns, and generate knowledge through effective database management techniques. This research will open new inter-disciplinary frontiers between marketing and GIS, with the outcomes expected to provide valuable information for decision makers at the academic, industry and governmental levels.Read moreRead less
Developing demand-side strategies for sustainable futures at the business and consumer levels. Australia is facing a world in which the material demands of developing nations are putting pressure on global resources, at the same time as effects of economic activity on the earth's climate are leading to questions about the planet's sustainability. Efforts to mandate changes in consumption patterns are likely to be politically unpopular and lead to a loss of social welfare. This research will in ....Developing demand-side strategies for sustainable futures at the business and consumer levels. Australia is facing a world in which the material demands of developing nations are putting pressure on global resources, at the same time as effects of economic activity on the earth's climate are leading to questions about the planet's sustainability. Efforts to mandate changes in consumption patterns are likely to be politically unpopular and lead to a loss of social welfare. This research will investigate ways in which choices between current and future consumption can be framed to maximize voluntary consumer choices for sustainable futures. It will allow the demand side of negative environmental trends to be addressed, reducing the pressure on the supply side without the loss of consumer sovereignty.Read moreRead less
The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation ....The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation of policies at both the Australian Stock Exchange and individual company level, and indeed at the government level given Federal and State Government initiatives to encourage the growth of corporate Australia.Read moreRead less