Extreme Value Theory Approaches to Insurance in a Catastrophic Environment. Recent decades are marked by numerous significant natural (climate change) or man-made (financial crises) catastrophes, which have significantly altered the landscape of the insurance industry. These have potentially significant negative impacts on the availability and affordability of insurance, and hence on the capability and capacity of households and businesses to take risks and be competitive. This project endeavour ....Extreme Value Theory Approaches to Insurance in a Catastrophic Environment. Recent decades are marked by numerous significant natural (climate change) or man-made (financial crises) catastrophes, which have significantly altered the landscape of the insurance industry. These have potentially significant negative impacts on the availability and affordability of insurance, and hence on the capability and capacity of households and businesses to take risks and be competitive. This project endeavours to establish progressive approaches (using extreme value theory) to the challenges faced by insurance in such a catastrophic environment. They will enhance the financial stability and competitivity of the Australian economy, and further establish its global leadership in dealing with climate changes and catastrophes.Read moreRead less
Better communication to solve the under-saving, under-spending puzzle. This project expects to develop evidence-based communication tools that promote life-time financial security, specifically investigating the puzzling and harmful tendency of people to under-save while working and under-spend while retired. To achieve this goal, it will design and experimentally validate innovative boosts to superannuation communication including income projections and goal-setting targeted at common misconcep ....Better communication to solve the under-saving, under-spending puzzle. This project expects to develop evidence-based communication tools that promote life-time financial security, specifically investigating the puzzling and harmful tendency of people to under-save while working and under-spend while retired. To achieve this goal, it will design and experimentally validate innovative boosts to superannuation communication including income projections and goal-setting targeted at common misconceptions and biases. It will use new structural modelling techniques to measure welfare changes. The expected outcomes are rigorous explanations for the saving-spending puzzle, and robust communication strategies for superannuation funds that will benefit workers and retirees by raising financial capability and confidence.Read moreRead less
Assessing absolute sustainability of global cities. The project aims to create a quantitative modelling framework for assessing the absolute sustainability of cities by combining global multi-region input-output analysis with the 'safe and just space' concept for human development. The model will allow assessment of the full supply chain environmental and social impacts of urban economic activities against biophysical planetary limits as well as social foundation thresholds defined in the litera ....Assessing absolute sustainability of global cities. The project aims to create a quantitative modelling framework for assessing the absolute sustainability of cities by combining global multi-region input-output analysis with the 'safe and just space' concept for human development. The model will allow assessment of the full supply chain environmental and social impacts of urban economic activities against biophysical planetary limits as well as social foundation thresholds defined in the literature. The project will advance sustainability science methodology and will greatly benefit worldwide initiatives for urban sustainability. Case studies on Australian cities will assess where interventions can be most practically, realistically and effectively implemented.Read moreRead less
Sustainable Australian food production within secure global supply chains. This project aims at exploring future pathways for the Australian food system to remain secure under future disruptive changes, environmentally and socially sustainable, and able to offer healthy food choices. It will reveal the connections among food supply chains, diets and human health, and portray a food system that achieves public health and sustainability goals while positioning Australia securely into the global su ....Sustainable Australian food production within secure global supply chains. This project aims at exploring future pathways for the Australian food system to remain secure under future disruptive changes, environmentally and socially sustainable, and able to offer healthy food choices. It will reveal the connections among food supply chains, diets and human health, and portray a food system that achieves public health and sustainability goals while positioning Australia securely into the global supply chain network. These goals will be achieved by creating the Australian Food Lab, which will provide a collaborative research platform for environmental scientists, economists, public health experts, and food industry representatives for investigating issues pertaining to the future of our food system.Read moreRead less
Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use ad ....Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use advanced statistical methods to estimate the benefits of clearer decision-making. The outcomes of this project includes new models of complex financial decisions, and a better understanding of where confusion arises and the effects it may have. Decreased confusion will raise financial well-being and help communities become more resilient to financial shocks.Read moreRead less
Governance and the investment performance of not-for-profit endowments. Governance and the investment performance of not-for-profit endowments. This project aims to examine the relation between performance and governance for Australian not for profit (NFP) endowments. The not-for-profit sector now accounts for over 4 per cent of the gross domestic product (GDP) (almost $43 billion) and employs volunteers who contribute an additional $14.6 billion in unpaid work. Little research has been done on ....Governance and the investment performance of not-for-profit endowments. Governance and the investment performance of not-for-profit endowments. This project aims to examine the relation between performance and governance for Australian not for profit (NFP) endowments. The not-for-profit sector now accounts for over 4 per cent of the gross domestic product (GDP) (almost $43 billion) and employs volunteers who contribute an additional $14.6 billion in unpaid work. Little research has been done on the investment performance of the endowments held by NFPs, even though this is an important contributor to their revenues. Expected outcomes include a publicised set of principles and periodically updated index of endowment governance quality, and attendant improvement in NFP investment management.Read moreRead less
Predicting the impacts of groundwater drawdown on groundwater ecosystems. This project aims to tackle a critical challenge of groundwater management – to understand and predict the impacts of declining groundwater levels. Over pumping and declining groundwater tables are a global problem, yet the effects on the ecosystems that exist within aquifers are poorly known. This project will create a world first evidence-based model of how lowering water tables affects the microbes, invertebrates (stygo ....Predicting the impacts of groundwater drawdown on groundwater ecosystems. This project aims to tackle a critical challenge of groundwater management – to understand and predict the impacts of declining groundwater levels. Over pumping and declining groundwater tables are a global problem, yet the effects on the ecosystems that exist within aquifers are poorly known. This project will create a world first evidence-based model of how lowering water tables affects the microbes, invertebrates (stygofauna) and ecological processes in groundwater ecosystems, and will demonstrate the consequences of such changes to groundwater quality and availability. This model will allow impacts to be reliably forecast and avoided or mitigated, vastly improving how major developments affecting groundwater are planned and implemented.Read moreRead less
Ecosystem risk assessment. This project aims to develop a type-based framework for the world's ecosystems, and undertake the first broad-scale global risk assessment for ecosystems. It will include detailed Australian risk assessments and scenario analyses to develop sustainable management of ecosystem services and climate adaptation strategies. The outcomes include a global-scale framework for classifying terrestrial, freshwater and marine ecosystems, the first global Red List of Ecosystems and ....Ecosystem risk assessment. This project aims to develop a type-based framework for the world's ecosystems, and undertake the first broad-scale global risk assessment for ecosystems. It will include detailed Australian risk assessments and scenario analyses to develop sustainable management of ecosystem services and climate adaptation strategies. The outcomes include a global-scale framework for classifying terrestrial, freshwater and marine ecosystems, the first global Red List of Ecosystems and identified priorities for protecting remaining wild ecosystems and restoring those that have suffered degradation. This will help meet UN Sustainable Development Goals to improve human well-being globally.Read moreRead less
Quantitative Analysis of Systemic Risk in Insurance. This project aims to achieve a contemporary and comprehensive quantitative analysis of systemic risk in insurance. The significance lies in narrowing the gap between the studies of systemic risk in banking and insurance. Expected outcomes include the construction of insurance/reinsurance networks to formalise systemic risk, the analysis of the role of network integration, and the development of pricing frameworks to entail a systemic risk prem ....Quantitative Analysis of Systemic Risk in Insurance. This project aims to achieve a contemporary and comprehensive quantitative analysis of systemic risk in insurance. The significance lies in narrowing the gap between the studies of systemic risk in banking and insurance. Expected outcomes include the construction of insurance/reinsurance networks to formalise systemic risk, the analysis of the role of network integration, and the development of pricing frameworks to entail a systemic risk premium. The project will benefit insurers and regulators by providing a forward-looking approach to monitoring and assessing insurance risk during a systemic crisis. These important original contributions to insurance risk management will help establish Australia’s global leadership in systemic risk.Read moreRead less
New metrics to measure and track fauna community condition in Australia. This project aims to improve how biodiversity is measured by developing a system to describe the condition of animal communities, analogous to those used for plant communities. It develops and tests the system for Australia’s birds, then extends the approach to other animal groups. The project expects to develop a data-driven typology of bird communities, accompanying community condition metrics that are scalable from site ....New metrics to measure and track fauna community condition in Australia. This project aims to improve how biodiversity is measured by developing a system to describe the condition of animal communities, analogous to those used for plant communities. It develops and tests the system for Australia’s birds, then extends the approach to other animal groups. The project expects to develop a data-driven typology of bird communities, accompanying community condition metrics that are scalable from site to national levels, and guidance for using these metrics in practice. These metrics will enable holistic and relevant measures of the biodiversity value of sites, improve evaluation of restoration actions, reveal trends in community condition, and inform monitoring and evaluation tools for emerging biodiversity markets.Read moreRead less