Discovery Early Career Researcher Award - Grant ID: DE120102640
Funder
Australian Research Council
Funding Amount
$375,000.00
Summary
Behavioural foundations of economic design for an uncertain world. The aim of this project is to incorporate behavioural foundations into mechanism design to improve our understanding of economic institutions in incomplete information environments. To accomplish this goal, it considers a framework where agents have reference-dependent preferences and explores implications of this assumption for economic design.
Discovery Early Career Researcher Award - Grant ID: DE180101452
Funder
Australian Research Council
Funding Amount
$357,996.00
Summary
Strategic interaction with limited memory: A theoretical approach. This project aims to propose a theoretical framework that would allow economists to explore and uncover the behavioural and welfare effects of memory constraints. By integrating cognitive constraints into existing economic theory, this project is expected to enhance economists’ future capacity to inform a diverse range of economic policies. Incorporating cognitive constraints into economic research can reduce unintended conseque ....Strategic interaction with limited memory: A theoretical approach. This project aims to propose a theoretical framework that would allow economists to explore and uncover the behavioural and welfare effects of memory constraints. By integrating cognitive constraints into existing economic theory, this project is expected to enhance economists’ future capacity to inform a diverse range of economic policies. Incorporating cognitive constraints into economic research can reduce unintended consequences of policy recommendations and is especially important in in complex markets such as health or household finance.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE180100190
Funder
Australian Research Council
Funding Amount
$363,996.00
Summary
Auction design with behavioural bidders. This project aims to incorporate behavioural elements from psychology into the economic analysis of auctions. The project will address discrepancies between traditional economic analysis of auctions based on fully rational bidders, and evidence from psychology and behavioural economics which demonstrates systemic departures from rational decision-making. This will expand realism in economic analysis and contribute new insights for the design of relevant, ....Auction design with behavioural bidders. This project aims to incorporate behavioural elements from psychology into the economic analysis of auctions. The project will address discrepancies between traditional economic analysis of auctions based on fully rational bidders, and evidence from psychology and behavioural economics which demonstrates systemic departures from rational decision-making. This will expand realism in economic analysis and contribute new insights for the design of relevant, real-world auctions such as real-estate auctions or internet auctions. The project outcomes are expected to enhance the efficient allocation of resources, improve our understanding of how different rules affect buyers' well-being and help design fairer auctions.Read moreRead less
Information and market design: mediation and analogical argumentation. This project aims to increase knowledge of how judicious disclosure of information facilitates economic exchange and social interactions and to shed light on how mediation can be an effective mode of dispute resolution. The project seeks to uncover how analogical arguments can be persuasive and determine social outcomes as well as provide guidance for advocates and decision makers on the best way to persuade and counteract mi ....Information and market design: mediation and analogical argumentation. This project aims to increase knowledge of how judicious disclosure of information facilitates economic exchange and social interactions and to shed light on how mediation can be an effective mode of dispute resolution. The project seeks to uncover how analogical arguments can be persuasive and determine social outcomes as well as provide guidance for advocates and decision makers on the best way to persuade and counteract misleading persuasion practices. Besides producing significant new knowledge, the project promises to inform future innovative economic, social and cultural developments of benefit to the Australian and international community.Read moreRead less
Economic efficiency and the provision of incentives for information acquisition and disclosure: a mechanism design approach. By uncovering what determines information acquisition, highlighting what allows experts and insiders to manipulate market outcomes, and studying the efficiency gains obtainable with the use of a variety of incentives schemes, this research will provide valuable insights for public policy concerning information diffusion and market transparency.
Epistemically feasible choice: implications for sustainable risk management. The aim of this project is to examine procedural decision principles that will yield better choices in circumstances where, because of epistemic limitations, standard decision theory provides an inadequate guide. Individuals and policy-makers must make decisions even though they cannot be fully aware of all of the relevant possibilities or fully understand consequences they have not yet experienced. Examples include ind ....Epistemically feasible choice: implications for sustainable risk management. The aim of this project is to examine procedural decision principles that will yield better choices in circumstances where, because of epistemic limitations, standard decision theory provides an inadequate guide. Individuals and policy-makers must make decisions even though they cannot be fully aware of all of the relevant possibilities or fully understand consequences they have not yet experienced. Examples include individual decisions about marriage and childbearing, public policy decisions about complex environmental problems and decisions on funding scientific research. The expected outcome of the project will be a formal model of decision theory incorporating principles of resilience, sustainability and transformative experience.Read moreRead less
'Fixed points': extending and deepening our understanding of mathematical and computational aspects of game theory. This work will extend and deepen our understanding of mathematical and computational aspects of game theory. It will produce computer code embodying new methods of solving systems of nonlinear equations, which is useful in many areas of applied research in economics, in other disciplines such as chemistry, and potentially in the analysis of business operations. The project will a ....'Fixed points': extending and deepening our understanding of mathematical and computational aspects of game theory. This work will extend and deepen our understanding of mathematical and computational aspects of game theory. It will produce computer code embodying new methods of solving systems of nonlinear equations, which is useful in many areas of applied research in economics, in other disciplines such as chemistry, and potentially in the analysis of business operations. The project will also deepen our understanding of the underlying mathematics of such systems, and of other mathematical foundations of economic research. One application will be a new measure of the relative power resulting from voting rules. Such measures assist the design of democratic institutions by allowing the designer to assess the fairness of the outcomes they produce.Read moreRead less