Stephen Y CHIU
Dr. Stephen Y CHIU
Economics
Associate Professor

2859 1056

KK 918

Academic & Professional Qualification
  • Ph.D., M.A., The Pennsylvania State University
  • B.S., University of London
  • Honors Diploma, Hong Kong Baptist College
Biography

Dr. Stephen Y CHIU received his undergraduate education in Physics at the Hong Kong Baptist College, and graduate education in Economics at the Pennsylvania State University, where he obtained his Ph.D. degree in 1995.  He had since taught at The Chinese University of Hong Kong until he joined The University of Hong Kong in 2002.  He has been the principal investigator of seven competitive earmarked grants, and was a Research Fellow in the Hong Kong Institute of Monetary Research during the summer of 2001.

Steve is a theorist and has written papers in different areas of Economics.  He likes models in which decision makers have non-negligible effects on the environment where they situate. He has published a few papers on bargaining.  In one paper, the widely used solution concept Shapley value is implemented as the unique outcome in a non-cooperative game under the least restrictive conditions.  Two other papers clear up the profession’s confusion on two concepts in bargaining theory — threat point and outside option, providing important insights into the implications of the now influential property rights approach of firm theory.  He has also written papers on the micro-foundations of currency crisis, examining the issue of multiple equilibria in more realistic models of currency attacks.  More recently, he has worked on problems such as contract design, college admissions, and demography and political economy of reform, motivated by a contrast between China and Russia in their demography and reform experience.

For leisure, Steve enjoys hiking, reading and tai chi.

Research Interest
  • Contracts and Organizations
  • Applied Theory
  • Political Economy
Selected Publications
  • “Task Interdependence and Non-Contractibility in Public Good Provision,”
    (with Bin R. Chen), Journal of Institutional and Theoretical Economics, vol 170(4), 2014, pp. 731-748.
  • “Interim Performance Evaluation in Contract Design,”
    (with Bin R. Chen), Economic Journal, vol 123, issue 569, June 2013, pp. 665-698.
  • “Conglomerate Merger Control: From the Continents to a Small Economy,”
    (with Jessie Xinyu Wang), Frontiers on Law in China, vol. 8 (2), June 2013, pp. 304-334.
  • “Bargaining, Competition, and Efficient Investment,”
    (with Kalyan Chatterjee), Bargaining in the Shadow of the Market: Selected Papers in Bilateral and Multilateral Bargaining, (pp. 79-96), edited by Kalyan Chatterjee, World Scientific Press, 2013.
  • “Competitive Bidding with a Price Floor,”
    (with Bin R. Chen), International Journal of Economic Theory, vol 7(4), December 2011.
  • “To What Extent Defining a Group Predicates on Defining Other Groups?”
    (with Weifeng Zhong), Procedia-Social and Behavioral Science Journal (Elsevier), vol. 30, 2011, pp. 1672-1682.
  • “Public-Private Partnerships: Task Interdependence and Contractibility”
    (with Bin R. Chen), International Journal of Industrial Organization, vol 28 (6), 2010, pp. 591-603. (int contribution: III.8)
  • Game Theory and Economic Modeling,
    (in Chinese, with Pu Yongjian), the Renmin University Press, 2010.
  • “Endogenous Preferential Treatment in Centralized Admissions”
    (with Weiwei Weng), Rand Journal of Economics, 40(2), Summer 2009, 258-282.(int contributions: III.1)
  • “When Does Competition Lead to Efficient Investments?”
    (with Kalyan Chatterjee), The B.E. Journal of Theoretical Economics, vol. 7 : 2007, Iss. 1 (Topics), Article 27.
  • “Noncooperative Bargaining, Hostages, and Optimal Assets Ownership,”
    American Economic Review, 88(4), September 1998, pp. 882-901
Recent Publications
China’s Electricity Development under the National Carbon Reduction Policy

專家普遍認為,現時的氣候危機在很大程度上是工業革命的後遺症。工業生產會排放大量溫室氣體暖化地球,如果我們未能將升溫幅度控制在不高於工業革命以前1.5至2攝氏度之內,地球很可能在2100年就不宜人類居住。為此,我們必須在2050年以前將全球碳排放降回至2005年的水平。

China’s Electricity Development under the National Carbon Reduction Policy

專家普遍認為,現時的氣候危機在很大程度上是工業革命的後遺症。工業生產會排放大量溫室氣體暖化地球,如果我們未能將升溫幅度控制在不高於工業革命以前1.5至2攝氏度之內,地球很可能在2100年就不宜人類居住。為此,我們必須在2050年以前將全球碳排放降回至2005年的水平。

Fighting COVID: To Strike a Balance Between Effectiveness and Convenience

當前全球新冠病毒疫情極度嚴峻,香港也到了抗疫的關鍵階段,筆者雖非醫學專家,倒有幾點意見和讀者分享。

Fighting COVID: To Strike a Balance Between Effectiveness and Convenience

當前全球新冠病毒疫情極度嚴峻,香港也到了抗疫的關鍵階段,筆者雖非醫學專家,倒有幾點意見和讀者分享。

China 2021: A Year of Regulation

從中國經濟的角度而言,2021是具歷史意義的一年;若作一精簡總結,2021可謂中國經濟加強監管的一年。

China 2021: A year of Regulation

從中國經濟的角度而言,2021是具歷史意義的一年;若作一精簡總結,2021可謂中國經濟加強監管的一年。

Thoughts on Hong Kong’s fiscal reserves

在2020/21財政年度,香港特區政府錄得2500多億元財政赤字,預計本財政年度仍會錄得顯著的赤字。香港向來奉行量入為出的理財原則,《基本法》也有此規定,難免有人會憂慮財政的可持續性問題。筆者希望透過本文勾劃公共財政情況之餘,並就相關範疇提出管見。

Thoughts on Hong Kong’s fiscal reserves

在2020/21財政年度,香港特區政府錄得2500多億元財政赤字,預計本財政年度仍會錄得顯著的赤字。香港向來奉行量入為出的理財原則,《基本法》也有此規定,難免有人會憂慮財政的可持續性問題。筆者希望透過本文勾劃公共財政情況之餘,並就相關範疇提出管見。

未來城市:試當真 賣飛經濟學 MIRROR唔啱使?

YouTube頻道「試當真」創立一周年開騷,票價在8月9日由10,000元一張開售,每天下降至9月1日最後一天的10元,結果在800元價位售罄。反傳統的賣飛玩法引來各種經濟學解讀,又「荷蘭式拍賣」,又「博弈論」,是否真的關事?成員游學修在短片解畫,「如果今次觀眾不是輸F5,不是輸排隊,而你又竟然願意向黃牛黨付更貴價錢的話,那今次實驗就是我們跟你們一同輸給黃牛」,此後演唱會能否效法,趕絕黃牛?這次受訪的3名經濟學家對此各有分析......

How to nurture a truthworthy generation

很久以前,一位同事曾向我講述這個故事:有一次,他見到一對父子在自動提款機提取款項。當年這種提款機尚未流行,當那個爸爸正要提款時,兒子(大概是小學生的年紀)鬼鬼祟祟,東張西望,然後低聲對爸爸說:「沒有人,快點取錢,愈多愈好!」原來他以為爸爸在偷錢,所以叫他趕緊按鍵!不知道什麼原因,過了這麼多年,這個故事仍然縈繞腦際。