现代产业经济学系列讲座第146-147期

现代产业经济学系列讲座第146期

时间：6月7日（周三） 15:30-17:00

地点：思源楼326室

主题：Market Talk

主讲人：章晶晶 博士（University of Technology, Sydney）

主持人：李玲芳 副教授                                                                                               

摘要：We study price formation in laboratory continuous double auction markets with private and common values. Rational expectations, which form the basis for the efficient market hypothesis, predict that the introduction of common values does not affect allocative and informational efficiency. In contrast, a “private” expectations model in which traders' optimal behavior depends on both their private and common-value information predicts that neither allocative nor informational efficiency is possible. We test these competing hypotheses and find that the introduction of common values lowers allocative efficiency by 28%, as predicted by the private expectations model, and that market prices differ substantially from rational expectation levels.

主讲人简介:

Jingjing Zhang is Senior Lecturer in the Economics Discipline Group at the University of Technology Sydney. The unifying theme of my research is to apply experimental methods to design better institutions for auctions, markets, voting and committee decisions, rent-seeking contests, resource allocations and collective decision-making. She has published in top journals including The Economic Journal, Games and Economic Behavior, Experimental Economics, etc.. She was awarded grants from the U.S. National Science Foundation, Swiss National Science Foundation, UTS Business research grant, etc. She is the Director of the UTS Behavioral Lab.

现代产业经济学系列讲座第147期

时间：6月12日（周一） 15:30-17:00

地点：思源楼326室

主题：Vehicle Size Choice and Automobile Externalities: A Dynamic Analysis

主讲人：严佳 副教授（Washington State University and Nankai University）

主持人：李玲芳 副教授

摘要：We study the effect of highway congestion on the “arms race” on American roads, which has led to larger and more powerful vehicles that increase the negative safety and fuel consumption externalities from automobile travel. We estimate a dynamic vehicle size choice model and find that congestion delays affect vehicle sizes. We then show that by reducing vehicle sizes, congestion pricing could produce a decline in the vehicle fatality rate that approaches $25 billion in annual benefits, and could result in an improvement in the nation’s vehicle fleet fuel efficiency that approaches $10 billion in annual operating cost savings.

主讲人简介: Jia Yan is an associate professor of Economics at Washington State University and the director of the China Regional Economics Application Laboratory (China REAL) of Nankai University. Yan's research covers various topics in Applied Microeconomics and Applied Econometrics. He has published his papers in such journal as Econometrica, American Economic Journal economic Policy, Journal of Public Economics, Journal of Urban Economics, Brookings-Wharton Papers on Urban Affairs and Transportation Research.

产业经济学系

2017-6-1