Large scale forest plantations in the Murray-Darling Basin may be embraced as a carbon sequestration mechanism under a Carbon Pollution Reduction Scheme. However, increased tree plantation will be associated with reduced inflows to river systems because of increased transpiration, interception...

Climate change is likely to have substantial effects on irrigated agriculture. It is anticipated that many areas that are already dry will become drier, while areas that already receive high rainfall may experience further increases. Extreme climate events such as droughts are likely to become...

We specify an oligopoly game, where firms choose quantity in order to maximise profits, that is strategically equivalent to a standard Tullock rent-seeking game. We then show that the Tullock game may be interpreted as an oligopsonistic market for influence.Alternative specifications of the...

The stabilization of global climate presents one of the most complex problems in public good provision the world has faced. Continuation of ‘business as usual’ policies, leading to warming of more than 2 degrees over the next year, will produce significant damage to agricultural systems and...

We develop a model of games with awareness that allows for differential levels of awareness. We show that, for the standard modal logical interpretations of belief and awareness, a player cannot believe there exist propositions of which he is unaware. Nevertheless, we argue that a boundedly...

The aim of this paper is to restate the case for social democracy and to propose a policy agenda in response to the global financial crisis. The crisis is not a temporary aberration, to be followed by a return to the ‘normality’ of the late 20th century, dominated by the ideology of economic...

It is now virtually certain that Australia and the world will experience significant climate change over the next century, as a result of human-caused emissions of carbon dioxide (CO2) and other greenhouse gases. This note is a brief discussion of the projected effects of climate change on...

We consider conditions under which the representation of the world available to a boundedly rational decision-maker, whose awareness in- creases over time, constitutes an adequate `small world' (in the sense of Savage 1954) for the assessment of a given decision. Equivalently, we consider...

The central common feature of a number of recent technological developments (collectively referred to as Web 2.0) is collaborative production of content on an amateur basis, that is, for motives other than commercial reward. Amateur production of content generates significant external benefits...

This note is a demonstration that, in the presence of overlapping generations and under standard conditions for a social welfare ordering (Pareto optimality, transitivity, independence), the only ordering consistent with utilitarianism for all people currently alive at any given point in time is...