Presumed Guilty: An Economics Analysis of the Efficiency of Environmental Bonds for the WA Mining Sector. Environmental bonds have two important economic effects. First they give an incentive for mining firms to manage environmental damage and second they prevent excessive costs falling on the regulator in the case of bankruptcy. The aim of this project is to assess if this policy can be redesigned to increase its economic efficiency.
A framework for prioritising investment in natural resource management. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in We ....A framework for prioritising investment in natural resource management. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in Western Australia, although it is anticipated that the lessons learned could be applied to other NRM policies. The outcome will be a contribution to aid participatory decision making.Read moreRead less
Implementation of a strategic framework for investment for Natural Resource Management: evaluation and development. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a par ....Implementation of a strategic framework for investment for Natural Resource Management: evaluation and development. If public funds applied to natural resource management are to achieve the highest level benefit, then the potential projects have to be prioritized. This is difficult when the expected benefits are both incommensurate (e.g. protection of roads v. areas of biodiversity) and uncertain. This project will evaluate alternative decision support methods for making such choices, with a particular focus on salinity management in Western Australia, although it is anticipated that the lessons learned could be applied to other NRM policies. The outcome will be a contribution to aid participatory decision making.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE160101306
Funder
Australian Research Council
Funding Amount
$373,848.00
Summary
Valuing the non-market benefits of mine site rehabilitation. This project aims to improve decisions about mine site rehabilitation. Mining causes environmental damage, which mine operators are legally required to rehabilitate. Although companies invest considerably in mine site restoration and biodiversity offsets, we don’t know whether their practices match public preferences for rehabilitation outcomes. Filling this knowledge gap is challenging because the benefits of rehabilitation (eg biodiv ....Valuing the non-market benefits of mine site rehabilitation. This project aims to improve decisions about mine site rehabilitation. Mining causes environmental damage, which mine operators are legally required to rehabilitate. Although companies invest considerably in mine site restoration and biodiversity offsets, we don’t know whether their practices match public preferences for rehabilitation outcomes. Filling this knowledge gap is challenging because the benefits of rehabilitation (eg biodiversity) are not traded in markets. This project aims to address these challenges by estimating, in monetary terms, the values provided by mine site restoration. By identifying these values, the project expects to contribute to improving the design of mine rehabilitation standards, and will enable future policy decisions to be more closely aligned with society’s preferences.Read moreRead less
Designing for uncertainty in conservation auctions. Economic theory and case study evidence show that tenders or auctions are more efficient than grant mechanisms for encouraging landholders to produce environmental outcomes on private land. These studies have ignored the effects of uncertainty of both bidders and administrators about factors such as landholder participation and the level of environmental benefits that will be delivered. This project will test whether distributing environmental ....Designing for uncertainty in conservation auctions. Economic theory and case study evidence show that tenders or auctions are more efficient than grant mechanisms for encouraging landholders to produce environmental outcomes on private land. These studies have ignored the effects of uncertainty of both bidders and administrators about factors such as landholder participation and the level of environmental benefits that will be delivered. This project will test whether distributing environmental funds via tenders is still efficient when uncertainty about various important factors is considered. Results from this research are expected to inform the cost effective design of systems to pay landholders for the provision of environmental benefits even when there is high uncertainty.Read moreRead less
Storage and the Hotelling Valuation Principle: Understanding the Dynamics of the Oil Industry. Understanding the economics of the oil market is important for understanding the shift toward smaller, more fuel-efficient motor vehicles and less fuel-intensive farming techniques. A better understanding of fundamental oil price processes will lead to more accurate oil price forecasting and hence more accurate pricing of oil derivatives (options, futures and swaps) and improved risk management (e.g. ....Storage and the Hotelling Valuation Principle: Understanding the Dynamics of the Oil Industry. Understanding the economics of the oil market is important for understanding the shift toward smaller, more fuel-efficient motor vehicles and less fuel-intensive farming techniques. A better understanding of fundamental oil price processes will lead to more accurate oil price forecasting and hence more accurate pricing of oil derivatives (options, futures and swaps) and improved risk management (e.g. airlines hedging the cost of their jet fuel needs). Read moreRead less
Do scientist and public preferences diverge? Analysing expert and public preferences for environmental and social outcomes for the Swan River. Expert judgements and public preferences may be quite different, so when can organisations rely on experts, how serious is the divergence, and when does it matter? In a case study of Perth's iconic Swan River, the project will explore this issue and its consequences for decision makers, to assist the Swan River Trust in their future decision making.
Integrating economics and science for land, water and biodiversity policy. Australian government programs for land and water conservation involve expenditure of billions of dollars, combined with much larger contributions from program participants. However, various problems with these programs have been identified. This research will assist program investors to better target funding, to employ more appropriate policy mechanisms, and to operate in a cost-effective way, achieving the most highly v ....Integrating economics and science for land, water and biodiversity policy. Australian government programs for land and water conservation involve expenditure of billions of dollars, combined with much larger contributions from program participants. However, various problems with these programs have been identified. This research will assist program investors to better target funding, to employ more appropriate policy mechanisms, and to operate in a cost-effective way, achieving the most highly valued environmental outcomes that can be achieved with the available budget. The project will develop improved theories, frameworks and economic models, integrating information from physical, biological and social sciences, and decision tools for use by environmental decision makers.Read moreRead less
The Future of Australian Mineral Exports. Australia is among the world's largest exporters of steelmaking raw materials, specifically iron ore, coking coal and manganese. This project will develop an integrated econometric model of the global steel industry to forecast future trends in global steel production and the associated demand for raw materials. The results of this research will not only assist Australian mineral exporters in achieving better outcomes in annual pricing negotiations by im ....The Future of Australian Mineral Exports. Australia is among the world's largest exporters of steelmaking raw materials, specifically iron ore, coking coal and manganese. This project will develop an integrated econometric model of the global steel industry to forecast future trends in global steel production and the associated demand for raw materials. The results of this research will not only assist Australian mineral exporters in achieving better outcomes in annual pricing negotiations by improving market knowledge, but also help focus their longer term marketing strategies. The extensive global mine database to be assembled as part of the network flow component of this model will also allow Australian mineral exporters to assess their competitive position relative to foreign producers.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE130100996
Funder
Australian Research Council
Funding Amount
$372,000.00
Summary
Social learning: the diffusion of residential rooftop photovoltaic panels in Australia. Residential photovoltaic (PV) panels provide a sustainable solution to energy supply helping to address the climate change challenge. This project develops novel methodologies to study the diffusion mechanisms of PV panels. The outcomes will be useful for energy industries and the government for the effective formulation of their business strategies and policies.