This paper shows that stochastic search algorithms can be used to compute the perfect and proper equilibria of finite games. These type of equilibria use perturbations as a means of escape from local equilibria. Intuitively, there is always a small probability that an agent will select...

This paper exploits an analogy between the “trembles” that underlie the functioning of simulated annealing and the player “trembles” that underlie the Nash refinements known as perfect and proper equilibrium. This paper shows that this relationship can be used to provide a method for...

The terms ‘grandfather clause’ and ‘grandfathering’ describe elements of a policy program in which existing participants in an activity are protected from the impact of regulations, restrictions or charges applied to new entrants. In this paper, the role of grandfathering in the design...

The construction of the Snowy Mountains Hydro-electric Scheme in the 1960s resulted in the diversion of 99% of the Snowy River’s natural flow into the Murray and Murrumbidgee river systems. In 2000, the NSW, Victorian and Commonwealth governments agreed to restore between 21 per cent and...

The construction of the Snowy Mountains Hydro-electric Scheme in the 1960s resulted in the diversion of 99% of the Snowy River's natural flow into the Murray and Murrumbidgee river systems. In 2000, the NSW, Victorian and Commonwealth governments agreed to restore between 21 per cent and 28 per...

The terms "grandfather clause" and "grandfathering" describe elements of a policy programme in which existing participants in an activity are protected from the impact of regulations, restrictions or charges applied to new entrants. In this paper, the role of grandfathering in the design of a...

The overall goal of Project 2 has been to provide a comprehensive understanding of the impacts of distributed energy (DG) on the Australian Electricity System. The research team at the UQ Energy Economics and Management Group (EEMG) has constructed a variety of sophisticated models to analyse...

With carbon dioxide the major contributor to anthropogenic climate change, being required to reduce the carbon emissions from burning coal for electricity presents a systemic shock to Australian power. The Australian government is committed to the development of its coal seam gas resources for...

The terms "grandfather clause" and "grandfathering" describe elements of a policy programme in which existing participants in an activity are protected from the impact of regulations, restrictions or charges applied to new entrants. In this paper, the role of grandfathering in the design of a...