This paper assessed the policy implications of the changing demand for passenger vehicles in Australia and debunked the myth that bigger vehicles are safer. In particular, we examined the increasing demand for small cars and four-wheel drive using the classic prisoners' dilemma framework in game...

Market models for software vulnerabilities have been disparaged in the past citing how these do little to lower the risk of insecure software. In this paper we argue that the market models proposed are flawed and not the concept of a market itself. A well-defined software risk derivative market...

Small countries may benefit from the formation of a trade bloc, since their combined market power will enable them to manipulate the terms of trade. The question of interest is whether countries will benefit from the enlargement of a trading bloc, if trade liberalization induces countries to...

"This paper introduces a management regime that would maintain common property rights by allowing resource users to harvest on their own but to share their extraction outcome with a given number of other resource users. The developed partnership approach makes use of the shirkingincentives in...

"We develop an evolutionary game theory model for a limited access common pool resource. With full disclosure of individual extraction decisions and payoffs we conjecture that subjects will imitate the most successful players’ strategy as long as their payoffs increase. We derive a stable...

"Laboratory experiments have generally supported the fundamental theorem that, in classical property rights environments, noncooperative behavior in large group markets yields efficient social outcomes. Experiments, however, regularly fail to support the game theoretic prediction of...

Subsequently published as:"Incorporating Motivational Heterogeneity into Game Theoretic Models of Collective Action." Public Choice, 117, 2003, 295-315."Understanding cooperation in the context of social dilemma games is fundamental to understanding how alternative institutional arrangements may...

"Our focus in this paper is with the transaction costs inherent in most decision making settings. We specifically investigate an "institution free" collective choice mechanism that includes costs to calling votes. A set of models show that under low costs (i.e., where no cost-induced equilibrium...

"In symmetric commons dilemmas, peer sanctioning, i.e. the possibility to gather information about the resource use of others and to sanction overuse, can be an effective structural solution in terms of resource conservation. However, most real world commons are characterized by structural...

"In particular, the academic debate over the best prediction about the behavior of people that use a common-pool resource (CPR), and the recommended policy approaches to the CPR dilemma have undergone a very interesting evolution throughout the last 3 decades of the pastcentury, since the...