Gregory is currently an Honorary Research Fellow at the University of Western Australia, a Principal Research Fellow and Associate Professor at the University of Sydney and an Extraordinary Professor at the University of Pretoria. Although he has taught countless undergraduates over the years, currently he is supervising honours and postgraduate students.
Most of Gregory's research is in bio economics, the combination of ecological and economic models to manage dynamic systems, and in real options, the management of dynamic systems under risk. He have just completed a research project with Land and Water Australia on valuing ecosystem services by combining ecological and economic systems in a dynamic model of social welfare. He has recently presented workshops at meetings of the Australian Agricultural and Resource Economics Society and the International Association of Agricultural Economists on applications of real options. For example, water rights are a real option. Owning a water right confers the right to exercise the option in a dry year and the real option approach gives a way to value a water right subject to significant risks. He also applies real options to many other decisions such as adapting to climate change and the design of weather insurance.
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