The judgments of Justice Lionel Murphy

Member of High Court Bench; includes references to Aboriginal voting rights; protection of Aboriginal sites in Franklin Dam Case; authors statements from cases - Onus v Alcoa of Australia Ltd, Portland; Neal v Queen, Yarrabah, Koowarta v BjelkePeterson, and Racial Discrimination Act 1975, Archer River; Queen v Toohey (Kenbi, Cox Peninsula); Coe v Commonwealth; Veen v Queen.

Last shall be first : a field study of biases in sequential performance evaluation on the Idol series

When performances are evaluated they are very often presented in a sequential order. Previous research suggests that the sequential presentation of alternatives may induce systematic biases in the way performances are evaluated. Such a phenomenon has been scarcely studied in economics. Using a large dataset of performance evaluation in the Idol series (N=1522), this paper presents new evidence about the systematic biases in sequential evaluation of performances and the psychological phenomena at the origin of these biases.

Stakes and motivation in tournaments : playing when there is nothing to play for but pride

Tournaments are an effective means of incentivising participants to ensure an optimal level of effort. However, situations can occur in tournaments where the final outcome of a given competitor does not depend on his/her future performance. Specifically, we study these specific situations in a data set of the group stages of European football club competitions from 1992 to 2009. We identify situations where teams are already sure to finish either first or last at the penultimate stage in the group. We show that such situations affect team performance in the last match, typically decreasing the performance of a team sure to finish first and increasing the performance of a team sure to finish last. The first finding is in line with the economic predictions yet provides interesting implications, namely that the schedule of the match order plays a significant role in the overall performance of the team. The second, counter-intuitive, finding is not well accommodated into the existing economics framework and thus we discuss two alternative explanations, one based on social pressure and the other on pride.

A note on trader Sharpe Ratios

Traders in the financial world are assessed by the amount of money they make and, increasingly, by the amount of money they make per unit of risk taken, a measure known as the Sharpe Ratio. Little is known about the average Sharpe Ratio among traders, but the Efficient Market Hypothesis suggests that traders, like asset managers, should not outperform the broad market. Here we report the findings of a study conducted in the City of London which shows that a population of experienced traders attain Sharpe Ratios significantly higher than the broad market. To explain this anomaly we examine a surrogate marker of prenatal androgen exposure, the second-to-fourth finger length ratio (2D:4D), which has previously been identified as predicting a trader's long term profitability. We find that it predicts the amount of risk taken by traders but not their Sharpe Ratios. We do, however, find that the traders' Sharpe Ratios increase markedly with the number of years they have traded, a result suggesting that learning plays a role in increasing the returns of traders. Our findings present anomalous data for the Efficient Markets Hypothesis.

Aspiration levels and educational choices: An experimental study

The explanation of social inequalities in education is still a debated issue in economics. Recent empirical studies tend to downplay the potential role of credit constraint. This article tests a different potential explanation of social inequalities in education, specifically that social differences in aspiration level result in different educational choices. Having existed for a long time in the sociology of education, this explanation can be justified if aspiration levels are seen as reference points in a prospect theory framework. In order to test this explanation, this article applies the method of experimental economics to the issue of education choice and behaviour. One hundred and twenty-nine individuals participated in an experiment in which they had to perform a task over 15 stages grouped in three blocks or levels. In order to continue through the experiment, a minimum level of success was required at the end of each level. Rewards were dependent on the final level successfully reached. At the end of each level, participants could either choose to stop and take their reward or to pay a cost to continue further in order to possibly receive higher rewards. To test the impact of aspiration levels, outcomes were either presented as gains or losses relative to an initial sum. In accordance with the theoretical predictions, participants in the loss framing group choose to go further in the experiment. There was also a significant and interesting gender effect in the loss framing treatment, such that males performed better and reached higher levels.

Alone against the crowd: Individual differences in referees' ability to cope under pressure

This paper contributes to the recent debate about the role of referees in the home advantage phenomenon. Specifically, it aims to provide a convincing answer to the newly posed question of the existence of individual differences among referees in terms of the home advantage (Boyko, Boyko, & Boyko, 2007; Johnston, 2008). Using multilevel modelling on a large and representative dataset we find that (1) the home advantage effect differs significantly among referees, and (2) this relationship is moderated by the size of the crowd. These new results suggest that a part of the home advantage is due to the effect of the crowd on the referees, and that some referees are more prone to be influenced by the crowd than others. This provides strong evidence to indicate that referees are a significant contributing factor to the home advantage. The implications of these findings are discussed both in terms of the relevant social psychological research, and with respect to the selection, assessment, and training of referees.

Order of instruction effects - do they make a difference when teaching senior chemistry with computer based visualizations?

This study investigated whether conceptual development is greater if students learning senior chemistry hear teacher explanations and other traditional teaching approaches first then see computer based visualizations or vice versa. Five Canadian chemistry classes, taught by three different teachers, studied the topics of Le Chatelier’s Principle and dynamic chemical equilibria using scientific visualizations with the explanation and visualizations in different orders. Conceptual development was measured using a 12 item test based on the Chemistry Concepts Inventory. Data was obtained about the students’ abilities, learning styles (auditory, visual or kinesthetic) and sex, and the relationships between these factors and conceptual development due to the teaching sequences were investigated. It was found that teaching sequence is not important in terms of students’ conceptual learning gains, across the whole cohort or for any of the three subgroups.