- Podcast Radio Interview – Jingjing Zhang
Jingjing Zhang was recently interviewed on the episode of Think Business Futures about alternative ways to make the voting system better. Her research ‘One man, one bid’, joint work with Jacob Goeree, which was published in Games and Economic Behavior in 2017, proposes providing politicians with a better way to gauge not only the public’s view but also how strongly they feel by testing a new system of voting. Rather than one vote per person, the system uses a bidding mechanism where, if you care strongly about an issue, you can buy extra votes. The catch is that the cost goes up quadratically – so the first vote is $1, the second $4, the third $9, with 100 votes costing $10,000. Another feature of the system is that all voters receive a cash rebate equal to the average of the other voters’ payments. In this way, the system redistributes money from those who gain from the outcome to those who lose. Jingjing and Jacob compared the bidding mechanism and simple majority voting in an experiment and the laboratory data provide empirical proof that the proposed bidding mechanism is not just of theoretical interest but are simple enough to work in practice. UTS Business News also published an article on this research.
- Publication: Peter Siminski
In the lead-up to the federal election, Peter Siminski and Deborah Ann Cobb-Clark (The University of Sydney) published an article in ‘The Conversation’ about Labor’s proposal for an Evaluator General which could cut wasteful spending and oversee high-quality evaluations of government programs in cooperation with other agencies. The article highlights that Australia is a long way off from having a strong evaluation culture. Too often governments hope, pray, and shoot policy into the wind. As Labor did not win the election, the proposal will not immediately go ahead. But it would have been a small step in the right direction. The article has been read over 5,700 times so far.
- Publication: Antonio Rosato
Research by Antonio Rosato and Agnieszka Tymula (University of Sydney) received significant media attention in April with coverage in the news.com.au, The Daily Mail, and realestate.com. Their experimental study ‘Loss aversion and competition in Vickrey auctions: Money ain't no good’, published in the latest issue of Games and Economic Behavior and looks at how competition affects bidding in auctions and has implications for real-life bidding situations, including property auctions. Their findings suggest that the more bidders are in an auction, the lower each individual bidder perceives their probability to win, which has a demotivating effect on their willingness to bid in the auction. Media coverage of this research has reached the highest online audience (total unique audience per outlet) among all media mentions of the UTS Business School in April 2019 and has had the advertising space rate of $90,000. Antonio also spoke to SBS Radio Italia about this study.
- Podcast Radio Interview – Peter Siminski
The UTS Radio Channel recently released a podcast with Peter Siminski. Peter discussed the topic of Intergenerational Income Mobility, the importance of family background as a determinant of economic outcomes in Australia, and the role of Education. He has been working in this area in recent years with academic collaborators and research students, with funding from the NSW Department of Education.
- Publication: Gordon Menzies
After his recent appearance on The Minefield (National Radio – the ABC) talking about the Royal Commission into Banking, he published the following article “Does working with money make us worse people?” in The Guardian.
- Podcast Radio Interview – Gordon Menzies
Gordon Menzies appeared on Radio National (the ABC) on The Minefield to talk about the Royal Commission into Banking: Bad Banks: can financial services be ethical. Hosts were Scott Stephens (ABC) and Waleed Aly (The Project). The Minefield (especially the podcast) has a national and international following.