Principal-agent models typically rely on the assumption that the agents action has a positive and increasing marginal cost in order to explain the emergence of a moral hazard. This paper develops a model in which an agent can manipulate a projects type, and in particular the projects risk,...

A model of illicit, addictive drug use is proposed when users have foresight. Impacts of drug use penalties, penalties on drug use-related crime, support for drug user rehabilitation as well as the effects of health-related, harm-minimisation policies are analysed. In the short run, government...

In the standard repeat-sales method, the maintained assumption is that the quality does not change between a house?s two sale dates. This assumption has been called into question. In particular quality changes from renovations carried out between a house?s two sales are not accounted for in the...

The effect of credit constraints on the dropout, graduate and slow finishing decisions of university students in Australia is studied. The Australian university system has institutions in place to resolve credit constraint issues, including an income contingent loan scheme and means tested...

In the standard repeat-sales method, the maintained assumption is that the quality does not change between a house?s two sale dates. This assumption has been called into question. In particular quality changes from renovations carried out between a house?s two sales are not accounted for in the...

Concern for the Earth’s changing climate, as a consequence of rising greenhouse gas (GHG) concentrations in the atmosphere, has led to policies aimed at reducing GHG emissions and increasing carbon sequestration. In Australia this has been acknowledged in the New South Wales Greenhouse Gas...