Information Quality in Auctions of Multiple Objects. This project aims at using both theory and laboratory experiments to analyse the formation of prices and the buyers' behaviour at auctions of multiple objects. The study focusses on the comparison of simultaneous auction procedures (in which the objects are sold at once) to sequential auction procedures (in which the objects are sold one after the other) and attention is drawn on the effects of the quality of the buyers' information about the ....Information Quality in Auctions of Multiple Objects. This project aims at using both theory and laboratory experiments to analyse the formation of prices and the buyers' behaviour at auctions of multiple objects. The study focusses on the comparison of simultaneous auction procedures (in which the objects are sold at once) to sequential auction procedures (in which the objects are sold one after the other) and attention is drawn on the effects of the quality of the buyers' information about the assets to be sold on their bidding behaviour and on the seller's revenues. The conduct of laboratory experiments will provide a useful assessment of the theoretical predictions and valuable insights into the effects of buyers' information quality on their bidding behaviour at such markets.Read moreRead less
Effective and efficient corporate tax enforcement. This project uses economic theory and experimental tests in order to inform tax authorities on how to best audit tax receipts from corporations. The project will result in advice on how audit resources should be allocated across firms, if minimising corporate tax evasion and at the same time maximising social welfare are the authority's objective.
Extending the scope of modular analysis for the validation of large systems. The increasing complexity of computer systems has severe implications for verification and validation, especially for critical systems (e.g. medical supervision, avionics mission systems). The standard approach is to build a formal model of the system and automatically analyse its behaviour. Such models can be captured in a modular, high-level description, but the number of states is usually so large as to preclude an ....Extending the scope of modular analysis for the validation of large systems. The increasing complexity of computer systems has severe implications for verification and validation, especially for critical systems (e.g. medical supervision, avionics mission systems). The standard approach is to build a formal model of the system and automatically analyse its behaviour. Such models can be captured in a modular, high-level description, but the number of states is usually so large as to preclude analysis. The modular analysis proposed in this project matches the analysis technique to the structure of the model. Preliminary results are promising and motivate the extension of the technique to a larger class of modular descriptions.Read moreRead less
Price-Setting Rules and Allocative Efficiency in Oligopolies. This project aims to investigate under which circumstances restrictions on how often firms can change prices increase competition in an oligopoly and bring down prices. For this, we propose the use of laboratory experiments with a novel design followed by field experiments and a real price-data analysis for external validation. This study will result in both the advancement of theory describing how firms compete in dynamic oligopolies ....Price-Setting Rules and Allocative Efficiency in Oligopolies. This project aims to investigate under which circumstances restrictions on how often firms can change prices increase competition in an oligopoly and bring down prices. For this, we propose the use of laboratory experiments with a novel design followed by field experiments and a real price-data analysis for external validation. This study will result in both the advancement of theory describing how firms compete in dynamic oligopolies and practical policy advice on how price setting rules can be used to improve consumer welfare. This project has the potential to generate sizable benefits to Australian consumers, as the resulting policy advice would be applicable to large markets such as those for petrol, groceries and online retail.Read moreRead less
Redesigning Landcare policy to better coordinate across landholders. This project aims to study how landscape-sensitive economic incentives and social norms can be leveraged to enhance the short- and long-term effectiveness of conservation programs. It will yield new knowledge for innovative designs in conservation contracting that is urgently needed to address worsening environmental threats in Australia and worldwide. In collaboration with Nobel laureate Vernon Smith’s team, new methods and pr ....Redesigning Landcare policy to better coordinate across landholders. This project aims to study how landscape-sensitive economic incentives and social norms can be leveraged to enhance the short- and long-term effectiveness of conservation programs. It will yield new knowledge for innovative designs in conservation contracting that is urgently needed to address worsening environmental threats in Australia and worldwide. In collaboration with Nobel laureate Vernon Smith’s team, new methods and protocols will improve our ability to generate better data and better understand how social and incentive mechanisms can constructively interact to facilitate collaborative environmental action. Results will help make the achievement of environmental targets and the use of public funds more cost-effective. Read moreRead less
Monopoles, instantons and metrics. This Project is pure basic research in the general area of differential geometry or the study of manifolds. Manifolds are higher dimensional analogues of surfaces such as the surface of the sphere or the surface of a doughnut. This Project studies monopoles and instantons which are solutions of partial differential equations arising in physics. These solutions and the so-called moduli spaces of all solutions have been used in the last two decades by the worlds ....Monopoles, instantons and metrics. This Project is pure basic research in the general area of differential geometry or the study of manifolds. Manifolds are higher dimensional analogues of surfaces such as the surface of the sphere or the surface of a doughnut. This Project studies monopoles and instantons which are solutions of partial differential equations arising in physics. These solutions and the so-called moduli spaces of all solutions have been used in the last two decades by the worlds leading mathematicians to revolutionize the study of three and four dimensional manifolds.Read moreRead less
Characterizing and classifying ovoids, flocks and generalized quadrangles. This project lies within the framework of the classification and characterization of fundamental structures in finite geometry. This research area is the site of much international activity, in which the proposed research team plays a central role. The aim of the project is to pursue twin goals: the classification of ovoids in three dimensional projective space, a famous long-standing problem; and the classification of ce ....Characterizing and classifying ovoids, flocks and generalized quadrangles. This project lies within the framework of the classification and characterization of fundamental structures in finite geometry. This research area is the site of much international activity, in which the proposed research team plays a central role. The aim of the project is to pursue twin goals: the classification of ovoids in three dimensional projective space, a famous long-standing problem; and the classification of certain generalized quadrangles. Our approach is novel as it utilises recently discovered links between these areas. The expected outcomes are significant progress towards these goals, as well as the development of new techniques in finite geometry.Read moreRead less
Liquidity in financial markets. This project aims to develop a theory which models the effect of liquidity on option prices under different market conditions. Economic or financial crises are inevitable and affect economics. During or after a major financial crisis, market liquidity usually becomes risky and needs to be studied. Through both empirical and theoretical explorations, this project will quantify and measure liquidity risk and its effect on the options markets. It will develop a frame ....Liquidity in financial markets. This project aims to develop a theory which models the effect of liquidity on option prices under different market conditions. Economic or financial crises are inevitable and affect economics. During or after a major financial crisis, market liquidity usually becomes risky and needs to be studied. Through both empirical and theoretical explorations, this project will quantify and measure liquidity risk and its effect on the options markets. It will develop a framework to help market regulators manage illiquidity, enhance the efficiency of option trading in illiquid markets and help in the detection of market manipulation.Read moreRead less
Communication and information storage mechanisms in complex dynamical brain networks. Recordings of electrical activity in the brain often cycle repetitively. The aim of this research is to explain how these brain rhythms assist the brain to coordinate simultaneous activity in several regions. Australian socioeconomic benefits include: (i) contributions to the knowledge base of theoretical neuroscience, enhancing Australia's reputation for cutting-edge research; (ii) strengthening of internation ....Communication and information storage mechanisms in complex dynamical brain networks. Recordings of electrical activity in the brain often cycle repetitively. The aim of this research is to explain how these brain rhythms assist the brain to coordinate simultaneous activity in several regions. Australian socioeconomic benefits include: (i) contributions to the knowledge base of theoretical neuroscience, enhancing Australia's reputation for cutting-edge research; (ii) strengthening of international collaborations with Europe and Japan; (iii) outcomes will ultimately impact on improved medical bionics and future interfaces between brain activity and machines or computers; and (iv) commercialization and technology transfer opportunities, via the transfer of results to biologically inspired engineering.Read moreRead less
Aggregating Generalised Stochastic Petri Nets for improved Performance Analysis. Australia's economy is very dependent on the operation of complex man-made systems. Important examples are telecommunication networks and services (e.g. the Internet), manufacturing plants, organisational processes, military logistics and transport systems (e.g. air traffic control). The performance of these systems is critical to their success. Thus being able to predict performance before systems are implemented i ....Aggregating Generalised Stochastic Petri Nets for improved Performance Analysis. Australia's economy is very dependent on the operation of complex man-made systems. Important examples are telecommunication networks and services (e.g. the Internet), manufacturing plants, organisational processes, military logistics and transport systems (e.g. air traffic control). The performance of these systems is critical to their success. Thus being able to predict performance before systems are implemented is very important in their design. This project will develop leading-edge performance analysis techniques and tools for an important class of practical systems. There is potential to commercialise the resulting tools and methodology and to transfer the expertise to industry.Read moreRead less