Federation Fellowships - Grant ID: FF0456723

Funding Activity

Website
http://dataportal.arc.gov.au/NCGP/Web/Grant/Grant/FF0456723

Funding Status
Closed

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Funded Activity Summary

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.

Funded Activity Details

Start Date: 01-01-2004

End Date: 31-12-2009

Funding Scheme: Federation Fellowships

Funding Amount: $1,519,710.00

Funder: Australian Research Council

Research Topics

ANZSRC Field of Research (FoR)

Economic Theory | Macroeconomic Theory | Microeconomic Theory | Applied Economics Not Elsewhere Classified

ANZSRC Socio-Economic Objective (SEO)

Microeconomic issues not elsewhere classified | Macroeconomic issues not elsewhere classified |

Other Keywords

Applied Economics Not Elsewhere Classified | Economic Theory | Macroeconomic Theory | Macroeconomic issues not elsewhere classified | Microeconomic Theory | Microeconomic issues not elsewhere classified

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