Uncertainty and the success of innovation. This proposal outlines an empirically-oriented project, with strong conceptual foundations, that will add significantly to our understanding of the barriers to successful commercial exploitation of innovations in Australia. There is currently no other applied work in this area in Australia of this scope and empirical content. Our approach adopts a rigorous approach to the measurement of innovation and performance, and looks at the effect of uncertainty ....Uncertainty and the success of innovation. This proposal outlines an empirically-oriented project, with strong conceptual foundations, that will add significantly to our understanding of the barriers to successful commercial exploitation of innovations in Australia. There is currently no other applied work in this area in Australia of this scope and empirical content. Our approach adopts a rigorous approach to the measurement of innovation and performance, and looks at the effect of uncertainty on the relationship between the two. The results of this exercise will translate into both government and corporate policy.Read moreRead less
The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and ....The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and lack of attachment to a major trading bloc such as the EU or NAFTA.Read moreRead less
ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environment ....ARC Research Network for Economic Design. The Economic Design Network is a partnership of more than one hundred researchers and over forty international universities and research centres. The Network will support cross disciplinary research and policy innovation using state of the art techniques in economic theory and experimental economics. It will create practical policy tools that can be used to solve complex social and economic problems in industry economics, health economics and environmental policy. By linking Australian mid and early career researchers into multidisciplinary teams based around the world's top experimental economics laboratories, it will create a world class economic design capacity in Australia.Read moreRead less
Optimal Policy Design with Entry: A Model of Aggregative Oligopoly Games. This project aims to develop a theory of endogenous market structures using aggregative oligopoly games to engage issues in competition, trade and innovation policy. Effective and innovative policy design is crucial for economic growth and productivity. Policy analysis with endogenous market structures is in need of better tools. The toolkit of aggregative games, in which each player’s profit can be written as a function o ....Optimal Policy Design with Entry: A Model of Aggregative Oligopoly Games. This project aims to develop a theory of endogenous market structures using aggregative oligopoly games to engage issues in competition, trade and innovation policy. Effective and innovative policy design is crucial for economic growth and productivity. Policy analysis with endogenous market structures is in need of better tools. The toolkit of aggregative games, in which each player’s profit can be written as a function of own action and an aggregate variable, would greatly simplify the analysis of oligopoly interaction. This would lead to a tractable but general welfare analysis yielding new results. The framework is designed to allow us to examine complex policy questions in a simplified way, accommodating models with heterogeneous players and entry, and generalising models with different types of competition and demand specification.Read moreRead less
The evolution of Australian enterprises, 1990 to 2007 : An empirical analysis of the relationship between turbulence among firms, productivity, growth and exports. This project will examine determinants and effects of enterprise entry and exit on growth, export and productivity in Australian industry using innovative panel enterprise data sets which have been collated and linked from existing ABS surveys, administrative data and accounting data. Currently, there is only one short longitudinal en ....The evolution of Australian enterprises, 1990 to 2007 : An empirical analysis of the relationship between turbulence among firms, productivity, growth and exports. This project will examine determinants and effects of enterprise entry and exit on growth, export and productivity in Australian industry using innovative panel enterprise data sets which have been collated and linked from existing ABS surveys, administrative data and accounting data. Currently, there is only one short longitudinal enterprise data set in Australia. Further data sets are required if policy makers are to understand patterns and causes of growth and business survival in Australia. Understanding provided from these studies should significantly improve our undertanding of how businesses perform.Read moreRead less
Bargaining and the price of new pharmaceuticals in Australia: An empirical analysis. The proposed research will consider whether there is a trade-off between price and access and will identify features of the regulatory framework that contribute to delays in securing access to drugs for diseases with no alternative therapy. It will provide decision makers with the necessary information to negotiate the lowest achievable price for drugs, freeing up resources for use elsewhere in the health sector ....Bargaining and the price of new pharmaceuticals in Australia: An empirical analysis. The proposed research will consider whether there is a trade-off between price and access and will identify features of the regulatory framework that contribute to delays in securing access to drugs for diseases with no alternative therapy. It will provide decision makers with the necessary information to negotiate the lowest achievable price for drugs, freeing up resources for use elsewhere in the health sector or slowing the growth in healthcare expenditure.Read moreRead less
The efficiency of the global patent system. This project will be the first study in the world to combine a new international patent database with more in-depth local information from Australia, Japan, US, Europe and Chinese Asia (China, Taiwan). The patent system should be globally consistent; simple and cost effective to use; parsimonious in the grant of monopoly rights; and provide a level playing field for all inventors. Existing empirical evidence indicates that the patent system is current ....The efficiency of the global patent system. This project will be the first study in the world to combine a new international patent database with more in-depth local information from Australia, Japan, US, Europe and Chinese Asia (China, Taiwan). The patent system should be globally consistent; simple and cost effective to use; parsimonious in the grant of monopoly rights; and provide a level playing field for all inventors. Existing empirical evidence indicates that the patent system is currently inefficient and this has negative effects on our Research and Development sector.Read moreRead less
The relationship between firm innovation and performance and the role of the government. Productivity growth in Australia has plateaued. Although Federal and State Governments employ a range of different innovation policies designed to stimulate productivity growth, little is known about the effects these programs, and of innovation more generally, on firm performance. One reason why this relationship is unknown relates to the availability of firm-level data. This project, will take advantage of ....The relationship between firm innovation and performance and the role of the government. Productivity growth in Australia has plateaued. Although Federal and State Governments employ a range of different innovation policies designed to stimulate productivity growth, little is known about the effects these programs, and of innovation more generally, on firm performance. One reason why this relationship is unknown relates to the availability of firm-level data. This project, will take advantage of unique access to a dataset provided by the Australian Bureau of Statistics which enables us to observe the activities of every firm in Australia. Using these data and appropriate econometric techniques, the study will examine the effect of a range of government policies designed to stimulate innovation and productivity growth. Read moreRead less
Scarcity of Ideas and Design of Optimal Incentive Schemes for Innovation. Since innovation is the driving force behind economic growth, enhancing its innovative capacity is an important consideration for Australia. From an economics point of view, this requires the design of optimal incentive schemes in the institutional structures which are central to promoting innovation. The proposed research aims to achieve exactly this by developing a definition of innovativeness and analyzing its implicati ....Scarcity of Ideas and Design of Optimal Incentive Schemes for Innovation. Since innovation is the driving force behind economic growth, enhancing its innovative capacity is an important consideration for Australia. From an economics point of view, this requires the design of optimal incentive schemes in the institutional structures which are central to promoting innovation. The proposed research aims to achieve exactly this by developing a definition of innovativeness and analyzing its implications. Its results will contribute to the policy discussions on innovation in Australia and will enhance the academic interactions between Australian and international universities.Read moreRead less
Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these ....Robust Optimal Asset Liability Management via Stochastic Control Theory. The Australian federal and state governments are strongly exposed to the Australian and international investment markets, either directly or through entities such as the Future Fund, state-owned insurers and superannuation schemes. Additionally, the investment pool represented by individual Australian's superannuation savings managed by non-government organisations is significant. Robust and effective management of these assets in order to meet future liabilities of these funds are essential to a stable Australian economy. This research has the potential to be a key component of reliable investment management, helping make Australia an important investment hub.Read moreRead less