Solving and estimating dynamic models of strategic interaction. This project aims to investigate how firms interact with each other through time and how these interactions drive both the operation of, and value created in, economic markets. While recent theoretical models predominantly capture the complexity of these dynamic interactions, the methods for testing these models’ predictions against observed data do not. Instead, they are based on a range of simplifying assumptions that undermine th ....Solving and estimating dynamic models of strategic interaction. This project aims to investigate how firms interact with each other through time and how these interactions drive both the operation of, and value created in, economic markets. While recent theoretical models predominantly capture the complexity of these dynamic interactions, the methods for testing these models’ predictions against observed data do not. Instead, they are based on a range of simplifying assumptions that undermine the reliability of their analysis. This project will develop statistical and computational methods to better understand observed economic behaviour. By allowing the effects of proposed economic interventions and regulations ex ante, this project will support the development of more efficient and better-targeted policies in every area of the economy.Read moreRead less
Measuring the Commercial Real Estate Sector in Australia. This project aims to address a significant gap in our understanding of the Australian commercial real estate sector. It will use detailed data to develop sophisticated models of the prices of commercial buildings. Expected outcomes include a suite of commercial real estate price indexes for Australia, by region and property type, and a comprehensive and transparent examination of the methods used to construct them. This will shed light on ....Measuring the Commercial Real Estate Sector in Australia. This project aims to address a significant gap in our understanding of the Australian commercial real estate sector. It will use detailed data to develop sophisticated models of the prices of commercial buildings. Expected outcomes include a suite of commercial real estate price indexes for Australia, by region and property type, and a comprehensive and transparent examination of the methods used to construct them. This will shed light on a hitherto poorly measured sector and provide significant benefits by better informing market participants, guiding statistical agencies in developing such measures and better-enabling policymakers, banks, superfunds and macroprudential authorities to understand the risk profile of the sector.Read moreRead less
Threshold models in micro-econometrics with applications to empirical models of health. The aim of this project is to develop and apply new statistical approaches to endogenously identify non-linear relationships between explanatory variable(s) and the response variable in non-linear econometric models and to illustrate these with applications important to empirical health economics. Literature proliferates in linear models with non-linear effects, but in health economics non-linear models domin ....Threshold models in micro-econometrics with applications to empirical models of health. The aim of this project is to develop and apply new statistical approaches to endogenously identify non-linear relationships between explanatory variable(s) and the response variable in non-linear econometric models and to illustrate these with applications important to empirical health economics. Literature proliferates in linear models with non-linear effects, but in health economics non-linear models dominate. This project will generalise these techniques to allow for various forms of the threshold variable(s), including categorical and continuous, endogenous and exogenous, and those measured with error.Read moreRead less
Choice foundations: Diagnostic tools for individual-level model development. This project aims to improve policy making in areas such as transport, environment and health, by better representation of how people make decisions. An interdisciplinary team of economists and psychologists will build on new mathematical and statistical tools to test for adherence to choice axioms that underlie observed choice behaviour. The project will produce a set of computerized statistical tools to implement the ....Choice foundations: Diagnostic tools for individual-level model development. This project aims to improve policy making in areas such as transport, environment and health, by better representation of how people make decisions. An interdisciplinary team of economists and psychologists will build on new mathematical and statistical tools to test for adherence to choice axioms that underlie observed choice behaviour. The project will produce a set of computerized statistical tools to implement the testing of choice axioms using Bayesian methods with the capacity to improve a wide array of applied economics work at the national and international levels.Read moreRead less
Australian Laureate Fellowships - Grant ID: FL110100247
Funder
Australian Research Council
Funding Amount
$2,461,000.00
Summary
Understanding the implications of population ageing for the future costs of funding health care, aged care and aged pensions in Australia. Decisions about health insurance, aged care, superannuation and retirement are often very complex, and most people find making the best choices extremely challenging. This project will develop new models and design new policies that can help people make better decisions in these areas, leading to greater well being in retirement.
Discovery Early Career Researcher Award - Grant ID: DE120100748
Funder
Australian Research Council
Funding Amount
$375,000.00
Summary
Robust inference for behavioural models in economics and finance. The project will develop novel methodology to estimate behavioural models in economics and finance, which may give better insights on economic development. Knowledge gained from this project will be useful for Australian industries, banks, investment funds and the government for the effective formulation of their business strategies and policies.
Flexible methods for latent variable models applied to Health Economics. This project aims to develop flexible and powerful methods for estimating models containing variables that are unobserved, that is, latent. Such models are often used to capture individual heterogeneity and time dependence in data collected on individuals, with each individual observed for several time periods. Latent variables can also infer group membership, where such membership is unavailable from the data. The intended ....Flexible methods for latent variable models applied to Health Economics. This project aims to develop flexible and powerful methods for estimating models containing variables that are unobserved, that is, latent. Such models are often used to capture individual heterogeneity and time dependence in data collected on individuals, with each individual observed for several time periods. Latent variables can also infer group membership, where such membership is unavailable from the data. The intended methodology is Bayesian and based on new particle methods that allow users to select between models and predict future observations even in complex situations. The research aims to inform decision making through improved use of data in health economics and related fields.Read moreRead less
Bayesian analysis of individual decisions in health and labour economics. This project aims to exploit emerging Bayesian Markov chain Monte Carlo methods to develop new approaches to modelling economic decision making. These methods will generate insights into two current and important policy debates. This includes (i) marijuana, alcohol and tobacco use and legalisation of marijuana use; and (ii) parental leave policies, maternity leave decisions and mothers' labour market dynamics. Although p ....Bayesian analysis of individual decisions in health and labour economics. This project aims to exploit emerging Bayesian Markov chain Monte Carlo methods to develop new approaches to modelling economic decision making. These methods will generate insights into two current and important policy debates. This includes (i) marijuana, alcohol and tobacco use and legalisation of marijuana use; and (ii) parental leave policies, maternity leave decisions and mothers' labour market dynamics. Although policies play an important role in observed health and labour market behaviours, their exact effects on individuals' decisions and outcomes are often difficult to quantify due to the complex nature of the decision process. Outcomes from the project will include new evidence of changes in substance uses under different legal scenarios and provide benefits such as yielding vital evidence on labour market and health behaviour impacts to support policy makers and strengthen Australia's research capacity in Bayesian analysis.Read moreRead less
Human Capital, Cognitive Skills and Labour Market Outcomes. As Australia competes in the ‘educational race,’ this project will generate new knowledge on the relationship between education, skill attainment and economic outcomes in Australia. The research will provide new empirical evidence on cognitive and non-cognitive skills formation over the life-cycle, and the relationship between these skills and labour market outcomes in Australia within the broader international context. The research wil ....Human Capital, Cognitive Skills and Labour Market Outcomes. As Australia competes in the ‘educational race,’ this project will generate new knowledge on the relationship between education, skill attainment and economic outcomes in Australia. The research will provide new empirical evidence on cognitive and non-cognitive skills formation over the life-cycle, and the relationship between these skills and labour market outcomes in Australia within the broader international context. The research will advance methodological techniques for the economic analysis of cognitive skills and their economic impacts. The research will inform public policy formulation relating to educational attainment, skill development, and strategies to encourage longer workforce engagement over the life-cycle.Read moreRead less
Physician Preferences for Medical Innovation. This project aims to identify the causes and consequences of medical practice variations by providing new evidence on the process through which physicians adopt and use new medical technology. This project expects to generate new knowledge on how physicians' human and social capital determine their preferences for taking up new medical technology and the economic consequences of such decisions. Expected outcomes of this project include a greater unde ....Physician Preferences for Medical Innovation. This project aims to identify the causes and consequences of medical practice variations by providing new evidence on the process through which physicians adopt and use new medical technology. This project expects to generate new knowledge on how physicians' human and social capital determine their preferences for taking up new medical technology and the economic consequences of such decisions. Expected outcomes of this project include a greater understanding of the sources for and costs of inappropriate use of healthcare, such as low-value care. This should provide significant benefits, such as contributing to the construction of effective policies for improving efficiency and equity of the healthcare system.Read moreRead less