Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use ad ....Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use advanced statistical methods to estimate the benefits of clearer decision-making. The outcomes of this project includes new models of complex financial decisions, and a better understanding of where confusion arises and the effects it may have. Decreased confusion will raise financial well-being and help communities become more resilient to financial shocks.Read moreRead less
Financial Risk Processes: Stochastic and Statistical Models and their Applications. On the one hand, the misuse of complex financial instruments has contributed to recent major disasters in the Australian financial and insurance industries; on the other hand, great benefits can be obtained by correct use of these kinds of instruments, to share risk between markets and segments of markets. The overall research effort in Australia in these areas is relatively small. This project will target the de ....Financial Risk Processes: Stochastic and Statistical Models and their Applications. On the one hand, the misuse of complex financial instruments has contributed to recent major disasters in the Australian financial and insurance industries; on the other hand, great benefits can be obtained by correct use of these kinds of instruments, to share risk between markets and segments of markets. The overall research effort in Australia in these areas is relatively small. This project will target the development of cutting edge technologies underlying the use of financial derivatives, not presently studied in this country or elsewhere, by bringing together a variety of top level international researchers in an integrated effort to lift the Australian understanding and application of this methodology.Read moreRead less
Stochastic Analysis with a View to Applications in Financial Risk Processes. Recent decades have seen explosive growth in applications of probability theory and statistics to the modelling of risk in finance and insurance. An intensive theoretical investigation into passage time and other problems for Levy and other continuous time processes will be applied to financial risk analyses. Related investigations will involve perpetuities and stochastic volatility models for price series. Outcomes ....Stochastic Analysis with a View to Applications in Financial Risk Processes. Recent decades have seen explosive growth in applications of probability theory and statistics to the modelling of risk in finance and insurance. An intensive theoretical investigation into passage time and other problems for Levy and other continuous time processes will be applied to financial risk analyses. Related investigations will involve perpetuities and stochastic volatility models for price series. Outcomes will include the development of new theory in probability and statistics, the initiation and reinforcement of collaborative ties with major international research figures, and the fostering of contacts with the finance industry.Read moreRead less
The key strategies in firms' realisation of value from ICT: A transformational model of ICT value generation. Studies indicate that information and communication technologies (ICT) have contributed significantly to Australia's productivity gains over the last decade. It is not well understood, however, why some firms and some industries have been able to benefit significantly more from ICT use than others. This study will show the strategies and practices that are used by the firms that gain max ....The key strategies in firms' realisation of value from ICT: A transformational model of ICT value generation. Studies indicate that information and communication technologies (ICT) have contributed significantly to Australia's productivity gains over the last decade. It is not well understood, however, why some firms and some industries have been able to benefit significantly more from ICT use than others. This study will show the strategies and practices that are used by the firms that gain maximum benefit from ICT - the 'ICT winners'. The lessons learned will allow other firms to gain further benefits from ICT, potentially leading overall to further economic gains by industries and the nation. Read moreRead less
Problems of identification and inference for 'non-standard' models in complex systems with special reference to finance and teletraffic. The project is concerned with 'non-standard' models needed to deal with complex systems, such as those exhibiting scaling and fractal properties. There is a focus on methods for dealing with heavy tailed distributions and long range dependent observations, for which most standard statistical methods break down, and on applications in finance and telecommunicati ....Problems of identification and inference for 'non-standard' models in complex systems with special reference to finance and teletraffic. The project is concerned with 'non-standard' models needed to deal with complex systems, such as those exhibiting scaling and fractal properties. There is a focus on methods for dealing with heavy tailed distributions and long range dependent observations, for which most standard statistical methods break down, and on applications in finance and telecommunications. An important part of the project concerns model validation for Heyde's fractal activity time geometric Brownian motion model, a candidate minimal description risky asset model to replace the geometric Brownian motion paradigm.Read moreRead less
Stochastic analysis and the development and application of financial risk processes. Ensuring the stability of Australia's financial system requires an understanding of the complex financial instruments, strategies and technologies that have evolved in recent years. A strong well-integrated research effort in stochastic analysis with particular application to financial markets is fundamental for measuring and managing risk, to protect and preserve a well functioning system, and to inform policy ....Stochastic analysis and the development and application of financial risk processes. Ensuring the stability of Australia's financial system requires an understanding of the complex financial instruments, strategies and technologies that have evolved in recent years. A strong well-integrated research effort in stochastic analysis with particular application to financial markets is fundamental for measuring and managing risk, to protect and preserve a well functioning system, and to inform policy debate on financial strategies and insurance liabilities.
These challenges are global and require extensive international research collaboration and interaction. The present project will enhance Australia's contributions in this area and facilitate its global impact more than is possible through individual efforts.Read moreRead less
Governance of information technology programmes: achieving accountability, control and success. This project aims to improve the effectiveness with which IT-enabled programmes are managed by public and private organisations. The theoretical knowledge and guides for good practice emerging from this study will contribute to increased success in managing and delivering complex and vital programmes across Australia.
Understanding employee-employer relationships during bridge employment: A psychological contract perspective. Bridge employment (paid employment after retirement from a career job) has several advantages for the individual (financial benefits, feeling of social connectedness, sense of accomplishment), employing organisations (access to experienced and skilled workers), and the government (lower burden on pension and benefits schemes). The proposed research will study the employee-employer relati ....Understanding employee-employer relationships during bridge employment: A psychological contract perspective. Bridge employment (paid employment after retirement from a career job) has several advantages for the individual (financial benefits, feeling of social connectedness, sense of accomplishment), employing organisations (access to experienced and skilled workers), and the government (lower burden on pension and benefits schemes). The proposed research will study the employee-employer relationship in bridge employment, with a focus on their perceptions of mutual obligationsin form of the psychological contract. An understanding of the psychological contract will make it more likely that the employment relationship fulfils the needs of the employees and employers and leads to a more successful bridge employment relationship.Read moreRead less
Tipping points and early warning signals in complex ecosystems. This project aims to create a theory of early warning that uses spatial data available on system state, connectivity and environmental stress, and to create tools to infer the risk of ecosystem collapse. Many ecosystems have irreversible tipping points. Since their locations are often unknown, metrics may provide an early warning of collapse but are difficult to apply because they need long time series which are usually lacking. Thi ....Tipping points and early warning signals in complex ecosystems. This project aims to create a theory of early warning that uses spatial data available on system state, connectivity and environmental stress, and to create tools to infer the risk of ecosystem collapse. Many ecosystems have irreversible tipping points. Since their locations are often unknown, metrics may provide an early warning of collapse but are difficult to apply because they need long time series which are usually lacking. This project will use the Great Barrier Reef as a testbed because it has both long time series (standard approach) and rich spatial data (new approach), and exhibits early warning signs. We will use these tools to gauge whether symptoms on the Great Barrier Reef predict local collapse and to develop intervention plans.Read moreRead less
Impact of increased sediment and nutrient discharges on the long-term sustainability of the Great Barrier Reef. The Great Barrier Reef, one of Australia's greatest natural assets, is under increasing threat from extreme climatic events caused by global warming and from land-based pollution. This research will identify the main sources of sediment and nutrient pollution caused by river runoff and by how much this has increased above 'natural levels'. We will discover how the very sensitive offsho ....Impact of increased sediment and nutrient discharges on the long-term sustainability of the Great Barrier Reef. The Great Barrier Reef, one of Australia's greatest natural assets, is under increasing threat from extreme climatic events caused by global warming and from land-based pollution. This research will identify the main sources of sediment and nutrient pollution caused by river runoff and by how much this has increased above 'natural levels'. We will discover how the very sensitive offshore coral reefs have responded to increased pollution and whether this is the cause of the very devastating crown-of-thorn-starfish infestations. Understanding the long-term effects of land-based pollution on the ecology of coral reefs in the GBR will thus provide a scientific basis to help ensure that it has a sustainable future.Read moreRead less