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...

Most urban areas in Australia are facing the prospect of increasing scarcity of water. Further pressure arises from evidence that existing levels of water use in many catchments are environmentally unsustainable. One option, feasible for some but not all Australian cities is the diversion to...

This paper describes experiences in the development and testing of three distinct financial models to support farm forestry decisions involving non-traditional tree species in northern Australia and in the Philippines. A variety of options were examined with respect to model design, yield...

Recent developments in the global system of cities present a curious paradox. With the cost of communications declining almost to zero and substantial, though less dramatic reductions in transport costs, there is now little technical requirement for most kinds of production to be undertaken in...

Effective climate policy requires global emissions of greenhouse gases to be cut substantially, which can be achieved by energy supply technologies with lower emissions, greater energy use efficiency, and substitution in demand. For policy to be efficient requires fairly uniform, fairly...

We focus on syntactic aspects of differential awareness that give rise to contractual disputes. Boundedly rational parties use a common language, but do not share a common understanding of the world, leading to ambiguity in both syntactic and semantic forms. In contractual relationships,...

The idea of representing choice under uncertainty as a trade-off between mean returns and some measure of risk or uncertainty is fundamental to the analysis of investment decisions. In this paper, we show that preferences can be characterized in this way, even in the absence of ob jective...

We analyse access price setting to a bottleneck facility where the fa- cility owner also competes in the deregulated downstream market. We consider a continuum of market structures from Cournot to Bertrand. These market structures are fully characterised by a single parame- ter representing the...

In this chapter, it is argued on the contrary that the RET is not merely complementary to the carbon market, but is a welfare-improving policy, even after the introduction of the carbon price. The central argument is that, because of political resistance to carbon pricing, the price has been set...

This note gives a simple, but useful characterization of optimism and pessimism represented by a convex and concave shift of probability weighting functions, and applies it to two comparative static analysis.