The value of information in an agency model with moral hazard

I show that the principal and the agent may each prefer that the principal or the agent has imperfect information about the principal's technology in a principal-agent environment with moral hazard. Principals expend considerable resources on data cumulation and analysis. However, such investments in information acquisition are benecial only if the agent will know that the principal is not ignorant or it allows the principal to implement a dierent action. When the principal is perfectly informed about her technology, the agent prefers to be ignorant. In addition, the value of perfect information for the agency is negative if the principal would implement the same action with either possible technology. I also investigate the dierences between ex ante and ex post contracting, and the ramications of the principal being ignorant or potentially ignorant about the technology. Finally, I determine if the principal's utility varies continuously with the degree of informativeness of the agent about the principal's technology. In this vein, I determine whether the agent's uncertainty may make the principal better o if she has the less informative technology.

Informed principal, moral hazard, and the value of a more informative technology

We analyze a principal-agent model with moral hazard in which the principal has private information about the technology. We characterize Perfect Bayesian Equilibria of the contracting game that possess the following properties: (i) a principal with a more informative technology ends up earning less profits than a principal with a less informative one does; (ii) compared to the complete information case, the actions implemented by the privately informed principal can be distorted; (iii) the agent can end up being better off when the principal has private information.

Assessment of community reintegration planning for sex offenders

Poor planning for reintegrating child molesters from prison to the community is a likely risk factor for sexual recidivism. The quality of reintegration planning was retrospectively measured for groups of recidivist (n = 30) and nonrecidivist (n = 30) child molesters who were individually matched on static risk level and time since release. Recidivists had significantly poorer reintegration planning scores than nonrecidivists, consistent with a previous study by the authors. Data from both studies were combined (total N = 141), and survival analyses showed that poor reintegration planning predicted an increased rate of recidivism. Accommodation, employment, and social support planning combined to predict recidivism, with predictive validity comparable to static risk models (area under the curve = .71). Summing these items yielded a scale of reintegration planning quality that differentiated well between recidivists and nonrecidivists and may have practical utility for risk assessment as an adjunct to static models.

The quality of community reintegration planning for child molesters : effects on sexual recidivism

Research on the causal factors underlying sex offender recidivism has not considered the success or failure of the reintegration process by which the offender rejoins the community after prison. The authors developed a coding protocol to measure the quality and comprehensiveness of reintegration planning for sex offenders. The protocol was retrospectively applied to groups of recidivists and nonrecidivists who were matched on static risk level and follow-up time. The protocol demonstrated adequate reliability. Compared to nonrecidivists, recidivists had significantly lower scores relating to accommodation, employment, and the Good Lives Model secondary goods, as well as lower total reintegration plan scores. ANCOVAs showed that when IQ and level of sexual deviance were controlled for, accommodation (a place to live) was significantly related to sexual recidivism and the Good Lives Model—secondary goods was significantly related to any recidivism. These results suggest that poor reintegration planning may be a risk factor for recidivism.

Darwin after dark: illuminating suburban atmospheres

In Australian cities, culturally diverse suburban landscapes are often sensed as discomforting sites of fear and anxiety, particularly after dark. Imagined risks of encounters with bodies of colour easily policed during the day when vision is clear, but who escape biopolitical regimes of securitisation and surveillance at night contribute to such atmospheric qualities of place. These affective atmospheres of fear and anxiety that haunt bodies and limit their ability to inhabit public space, however, can provide a sense of freedom for bodies who claim suburban spaces of darkness through tactile and sonic senses. This paper draws on the contemporary literature on affective atmospheres to show how racialised Indigenous and asylum seeker bodies become present in different ways in suburban places in Darwin after dark. The paper focuses on two events – spontaneous dancing to Indigenous music at Mindil beach market and a Vigil commemorating asylum seeker lives in a suburban courtyard. Drawing on ethnographic research I explore these affective intervention that illuminate dark suburban atmospheres in Darwin. Such interventions that draw attention to the attunement of bodies to difference unsettle biopolitical regimes that victimise and patronise visible non-white bodies and contribute to rethinking racism and darkness in suburban Darwin and the Top End.

Working with 'housing variance' to model urban growth futures with inner metropolitan Melbourne

Continued population growth in Melbourne over the past decade has led to the development of a range of strategies and policies by State and Local levels of government to set an agenda for a more sustainable form of urban development. As the Victorian State government moves towards the development of 'Plan Melbourne', a new metropolitan planning strategy currently being prepared to take Melbourne forward to 2050, the following paper addresses the issue of how new residential built form will impact on and be accommodated in existing Inner Melbourne activity centres. Working with the prospect of establishing a more compact city in order to meet an inner city target of 90,000 new dwellings (Inner Metropolitan Action Plan - IMAP Strategy 5), the paper presents a 'Housing Variance Model' based on household structure and dwelling type. As capacity is progressively altered through a range of built form permutations, the research attempts to assess the impact on the urban morphology of a case study of four Major Activity Centres in the municipality of Port Phillip.

Six million in Melbourne or a network of sustainable midi-cities? A thought experiment

By 2050, it is projected that Melbourne will have a population of between 5.6 and 6.4 million (DPCD, 2012), an increase of nearly 50% above its current level. Despite Melbourne's status as the world's most liveable city, a recent survey found that Australians in general found smaller cities are better places to live and bring up families (Perkins, 2013). The Grattan Institute's report entitled "The Cities We Need" was "an invitation to a conversation" about our future cities (Kelly, 2010:5). One idea not canvassed in the report was that of decentralization to accommodate Melbourne's projected growth. In its discussion paper, "Let's Talk about the Future", the Victorian State Government proposes that Melbourne become a 'polycentric city' linked to its regional cities (DPCD, 2012). While growth in the present regional cities is acknowledged, the possibility that these and other new regional cities could absorb the future population projected for Melbourne is not considered, nor that these regional cities could be transformed into 'sustainable cities'. This paper explores the idea that a network of smaller 'midi-cities, based on the sustainable city concept of Sweden, might provide a better alternative to concentrated growth in one city. Fifteen new cities of 150,000 would be required to absorb the projected extra 2.3 million Victorian residents. The paper analyses the energy, food, water and land requirements of a typical sustainable city. The new cities would require approximately 12% of the State's land area for food and energy supply, as well as the built environment.

Reinventing D'Jillong : current regeneration initiatives challenging the identity and place of Geelong

Australian regional city regeneration in Australia is increasingly becoming an important topic as they attempt to position themselves mid-way between larger discourses about capital cities and peri-urban landscapes. Historically these cities, like Newcastle, Wollongong and Geelong, have been marginalised in infrastructure and planning support systems, yet subject to erratic Commonwealth and State funded initiatives that have divested major specific-purpose complexes into their cities. Such has been as a consequence of of 'decentralisation' and 'regionalisation' political platforms, but also to address employment and voting needs. As an example, Geelong embraced contemporary industrialism, particularly automotive, and built on its port and wool export capacities. Politics, intransigence and lack of economic investment compounded the failure to create quality urban fabric and enable innovative planning. With this legacy, this regional city finds itself at the cusp of heavy industry disintegration, education and health sectorial growth, population increases aided by regional escapism, and a lethargic city centre. In attempting to redress these trends, Geelong is consciously attempting to re-image itself, regenerate key sections of its urban fabric, but also manage the regional escapism (sea change / tree change) phenomena. This paper critiques the larger context, and then uses three examples - "Vision 2" in the city centre, the Mega Port proposal, Fyansford Green and the Moolap salt marsh - as foils to reflect whether these initiatives are and can assist the facilitation of city structural change, economic renewal and enhanced urban design and place-making outcomes.

Mapping Co2 emission from commuting in regional Australia : greater Geelong case study

Commuting to work is one of the most important and regular routines of urban transportation. From a geographic perspective, the length of people's commute is influenced, to some degree, by the spatial separation of their home and workplace and the transport infrastructure. The rise of car ownership in Australia has been accompanied by a considerable decrease of public transport use. Increased personal mobility has fuelled the trend of decentralised housing development, mostly without a clear planning for local employment, or alternative means of transportation. As a result, the urban patterns of regional Australia is formed by a complex network of a multitude of small towns, scattered in relatively large areas, which are totally dependent and polarized by few medium and large cities. Such hierarchical and dispersed geographical structure implies significant carbon dioxide emissions from transportation. Transport sector accounts for 14% of Australia's net greenhouse gas emissions, and without further policy action, they are projected to continue to increase. The aim of this paper is to demonstrate the importance of incorporating urban climate understanding and knowledge into urban planning processes in order to develop cities that are more sustainable. A GIS-based gravity model is employed to examine the travel patterns related to hierarchical and geographical urban region networks, and the derived total carbon emissions, using the Greater Geelong region as a case study. The new challenges presented by climate change bring with them opportunities. In order to fully reach the very challenging targets of carbon reduction in Australia an integrated and strategic vision for urban and regional planning is necessary.

Pedagogy of oppressed community engagement : socially inclusive visioning of urban change

It is generally accepted that good practice in policy making and urban change initiatives requires community engagement, where community-based approaches are emphasised as a means of socially inclusive visioning. Communities expect greater transparency, accountability and engagement. This expectation is not always met, with many studies focusing on the perceived tickbox effect - where engagement is a process that has to be undertaken rather than being welcomed and embraced as an integral part of planning for urban change. This paper explores multi-disciplinary concepts and looks at ways these can be linked to community engagement in planning, particularly in larger urban Councils. In this brief glimpse at the wide variety of disciplines that could be drawn on, the paper uses information systems, teaching models, organisational theory and public policy to highlight the potential for altering concepts of community engagement. It concludes that, from these particular examples: the use of double-loop learning could help to empower the community (from organisational theory), collaboration and participation necessitate the co-ordination and exchange of information and knowledge within and between organisations (information systems), the preconception that the authority holds all the knowledge ready to be handed out to the community (teaching models) needs to be challenged, and partnerships are important in empowering people (public policy).

Perceptions of Place - evaluating experiential qualities of streetscapes

Working with a small set of 60 images from a collection of over 1000 digital photographs, the following paper presents ongoing research into the experiential qualities of street scapes. This paper examines the initial results of a survey of 75 voluntary based perceptive studies and focusses on a sample cohort of 30 participants (20 cognate and 10 non-cognate respondents) who were asked to evaluate a streetscape experience based on favourable and unfavourable perceptive qualities. Using a spatial sequencing process, akin to the 'Serial Vision' methodology of Gordon Cullen, respondents were asked to rate a section of urban fabric based on favourable (hot or warm) and unfavourable (cold or cool) traits and to digitally capture these images. The study yields results which highlight the importance of the quality and effect of green attributes within the overall street scape experience. The implications for urban design practice (streetscape greening), are briefly explored.