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Research interests
Professor Thorp has devoted her career to understanding life cycle finance, with particular emphasis on individual financial decision making. Rapid global developments in financial systems will assume even greater importance as business and government work out how to adjust to aging populations and the associated changes in the ability of individuals to maintain financial well-being over the life course.
Susan works in cross-disciplinary research teams that include scholars from finance, economics, marketing, psychology, law, econometrics and statistics. Her work includes applications of a wide range of techniques: dynamic programming in continuous and discrete time (using analytical and numerical solution methods); time series, volatility, cross-sectional, panel, discrete and limited dependent variable econometric modeling; and survey, field and laboratory experimental design, execution and analysis. She has extensive experience in surveys and choice experiments.
A critical problem for households is how best manage their savings in risky investment markets over an uncertain length of time. Susan’s theoretical research finds the ideal investment strategy and spending plans before and after retirement. These models highlight the influence of public pension regulations on spending and risk management, and the relation between the social security and the demand for longevity insurance. Her recent work includes studies of insuring for the costs of formal and informal aged care.
Many people find financial decisions daunting, particularly when they relate to important but distant outcomes like purchasing a home or managing retirement. Professor Thorp studies both conventionally rational and behavioural influences on consumer choices in investment, decumulation and financial advice, including studies of biases, heuristics, choice architecture and financial literacy. Her work has identified best practice in investment risk communication; the use of default and diversification heuristics in portfolio and retirement income stream choices; an analysis of the formation of client trust in financial advisors; the effects of projections on savings behaviour; how confusion affects mortgage choice; and a body of descriptive work mapping the financial literacy, financial product awareness, numeracy and retirement planning of Australians into the international setting.
Susan has also studied the integration of financial asset markets, particularly during the financial crises that present a recurring challenge to investors and regulators. Her work investigates volatility and policy transmission during financial crises using structural GARCH and smooth transition techniques to identify the timing and sources of contagious shocks and measure the different impacts of contagion sourced locally and externally. Studies of contagion transmission support the use of policy tools to protect local markets from imported contagion.
Commodity markets are a critical influence on the Australian economy. Over recent decades commodity markets have experienced a rapid inflow in capital from financial investors and changes to fossil fuel policy. Financial investment in commodities markets raise questions about price discovery and destabilization. Susan’s investigation of correlation dynamics demonstrated that increased integration between commodity and equity markets coincided with financialisation, and motivated increased scrutiny by regulators. Further work looks into the unintended consequences of biofuel policy for food markets, and the effects of changes to production and consumption on crude oil markets.
Professor Thorp has devoted her career to understanding life cycle finance, with particular emphasis on individual financial decision making. Rapid global developments in financial systems will assume even greater importance as business and government work out how to adjust to aging populations and the associated changes in the ability of individuals to maintain financial well-being over the life course.
Susan works in cross-disciplinary research teams that include scholars from finance, economics, marketing, psychology, law, econometrics and statistics. Her work includes applications of a wide range of techniques: dynamic programming in continuous and discrete time (using analytical and numerical solution methods); time series, volatility, cross-sectional, panel, discrete and limited dependent variable econometric modeling; and survey, field and laboratory experimental design, execution and analysis. She has extensive experience in surveys and choice experiments.
A critical problem for households is how best manage their savings in risky investment markets over an uncertain length of time. Susan’s theoretical research finds the ideal investment strategy and spending plans before and after retirement. These models highlight the influence of public pension regulations on spending and risk management, and the relation between the social security and the demand for longevity insurance. Her recent work includes studies of insuring for the costs of formal and informal aged care.
Many people find financial decisions daunting, particularly when they relate to important but distant outcomes like purchasing a home or managing retirement. Professor Thorp studies both conventionally rational and behavioural influences on consumer choices in investment, decumulation and financial advice, including studies of biases, heuristics, choice architecture and financial literacy. Her work has identified best practice in investment risk communication; the use of default and diversification heuristics in portfolio and retirement income stream choices; an analysis of the formation of client trust in financial advisors; the effects of projections on savings behaviour; how confusion affects mortgage choice; and a body of descriptive work mapping the financial literacy, financial product awareness, numeracy and retirement planning of Australians into the international setting.
Susan has also studied the integration of financial asset markets, particularly during the financial crises that present a recurring challenge to investors and regulators. Her work investigates volatility and policy transmission during financial crises using structural GARCH and smooth transition techniques to identify the timing and sources of contagious shocks and measure the different impacts of contagion sourced locally and externally. Studies of contagion transmission support the use of policy tools to protect local markets from imported contagion.
Commodity markets are a critical influence on the Australian economy. Over recent decades commodity markets have experienced a rapid inflow in capital from financial investors and changes to fossil fuel policy. Financial investment in commodities markets raise questions about price discovery and destabilization. Susan’s investigation of correlation dynamics demonstrated that increased integration between commodity and equity markets coincided with financialisation, and motivated increased scrutiny by regulators. Further work looks into the unintended consequences of biofuel policy for food markets, and the effects of changes to production and consumption on crude oil markets.
研究兴趣
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Journal of Financial Literacy and Wellbeingno. 1 (2023): 47-78
JOURNAL OF CONSUMER AFFAIRSno. 3 (2023): 1151-1182
Journal of Banking & Finance (2022): 106549
SSRN Electronic Journal (2022)
Journal of Behavioral and Experimental Finance (2022): 100690-100690
Social Science Research Network (2021)
Social Science Research Network (2020)
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