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...

This non-technical summary presents the findings and recommendations from the project called ‘Analysis of institutional adaptability to redress electricity infrastructure vulnerability due to climate change’. The objectives of the project are to examine the adaptive capacity of existing...

This paper examines the economic competitiveness of implementing Carbon Capture and Storage (CCS) for deployment on the Australia’s National Electricity Market (NEM) against conventional base load electricity generation. By examining the Levelised Cost of Energy (LCOE) for sent out generation...

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...

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...