Wen ZHOU
Dr. Wen ZHOU
Management and Strategy
IMBA Programme Director
Associate Professor
Associate Director, Asia Case Research Centre

3917 5665

KK 1225

Academic & Professional Qualification
  • PhD in Economics, Duke University
  • MA in Economics, Peking University
  • BSc in Biology, University of Science & Technology of China
Biography

Dr. Wen Zhou is an Associate Professor in the group of Management and Strategy, HKU Business School. He received BS in biology from the University of Science and Technology of China, MA in economics from Peking University and PhD in economics from Duke University. He joined the University of Hong Kong in 2007 after working at the Hong Kong University of Science and Technology for several years.

Teaching

Dr. Zhou teaches Managerial Economics for MBA, IMBA, and EMBA.

Research Interest

Dr. Zhou is an economist working in the field of industrial organization. His research focuses on endogenous market structure in the presence of mergers, innovation, and international trade. He has also studied business strategies such as pricing and advertising.

Selected Publications
Recent Publications
MIRROR, tell me how much is a ticket worth?

男子組合MIRROR的演唱會即將開始,全城早已掀起搶票潮,粉絲卻苦於一票難求。即使另加兩場特別場,採用實名制售票,依然無法阻止黃牛黨瘋狂炒票。公開發售的門票瞬間售罄,有本地傳媒報道,二手市場上的黃牛票竟被炒到40多萬元,粉絲們自然叫苦連天。

MIRROR, tell me how much is a ticket worth?

男子組合MIRROR的演唱會即將開始,全城早已掀起搶票潮,粉絲卻苦於一票難求。即使另加兩場特別場,採用實名制售票,依然無法阻止黃牛黨瘋狂炒票。公開發售的門票瞬間售罄,有本地傳媒報道,二手市場上的黃牛票竟被炒到40多萬元,粉絲們自然叫苦連天。

How to incentivise vaccination in Hong Kong?

新型冠狀病毒疫情揮之未去,香港的經濟損失已高達6000億港元。要重振經濟,恢復正常生活,唯一的途徑就是接種疫苗。特區政府自2月底啟動疫苗接種計劃,至今4個多月才接種了451萬劑(截至周二),進度未如理想。按通行的標準(即每100人接種的劑數)加以比較:香港54劑,新加坡快了將近一倍,達到98劑,中國內地90劑、美國99劑、英國118劑、以色列125劑,最高的是阿聯酋157劑

How to incentivise vaccination in Hong Kong?

新型冠狀病毒疫情揮之未去,香港的經濟損失已高達6000億港元。要重振經濟,恢復正常生活,唯一的途徑就是接種疫苗。特區政府自2月底啟動疫苗接種計劃,至今4個多月才接種了451萬劑(截至周二),進度未如理想。按通行的標準(即每100人接種的劑數)加以比較:香港54劑,新加坡快了將近一倍,達到98劑,中國內地90劑、美國99劑、英國118劑、以色列125劑,最高的是阿聯酋157劑

China’s strategy in the Australia trade dispute

中澳兩國之間的貿易矛盾越演越烈,有評論認為中國不應在與美國糾纏之際四面樹敵。但鑑於美國奉行「美國優先政策」,中方相信就算中澳貿易戰開打,美國絕對會袖手旁觀。故中國希望藉此揭露穿美國的虛偽,讓西方國家認識到為他人火中取栗的失策。

Reality through the prism of memories

萊尼和妻子在家中受歹徒襲擊,妻子被姦殺,萊尼腦部受傷,康復後人生目標只有一個:找到兇手,為妻子報仇。無奈他患上短期失憶症,只能記得剛剛幾分鐘發生的事,其餘就忘得一乾二淨,又怎能追查兇手的線索?他住在某個汽車旅館,但記不起入住的來由;有些人在幫他,他卻不記得見過對方,也不敢完全信任他們。 這就是電影《凶心人》(Memento)的情節,內地譯名為《記憶碎片》,台灣則譯作《記憶拼圖》。電影發行於2000年,導演是後來聲名大噪的基斯杜化.路蘭,當時剛出道不久,已有不同凡響的表現。全片採用獨特的片段式倒敍手法,呈現劇情的來龍去脈──英雄孤軍作戰,最終克服困難,實現人生目標;聽來驟似老套,但其實別有深意。

Inflexible Repositioning: Commitment in Competition and Uncertainty

We study the value of commitment in a business environment that is both competitive and uncertain, in which two firms face stochastic demands and compete in positioning and repositioning. If the future demand tends to disperse or the demand uncertainty is sufficiently large, one firm chooses rigidity (i.e., commits not to change its positions), and the other chooses flexibility (i.e., to reposition freely). We find that a firm’s rigidity can benefit not only itself, but also its flexible rival. When uncertainty is larger, rigidity becomes more valuable relative to flexibility. These results arise because the asymmetric equilibrium generates two collective gains in addition to the usual individual gain (in terms of competitive advantages) accrued to the committing firm. A firm’s rigid repositioning can soften competition and generate a commitment value, and the other firm’s flexible repositioning generates an option value. Both values then spill over to competitors within the ecosystem. These results suggest that, when firms compete under uncertainty, commitment and options are valuable not only for the party that is making the choice, but also for all competing parties collectively. Commitment value and option value do not have to be mutually exclusive; they can coexist and even strengthen each other through unilateral commitment, which achieves the best of both strategies.

The opening and competition of the Hong Kong electricity market

新年伊始,兩家電力公司提高電費,引起公眾普遍關注。電力市場為什麼需要管制,以及價格管制的兩種基本模式有何利弊,筆者上周已在本欄論述。電力供應的穩定與安全至關重要,特區政府的能源政策又須兼顧環保,在未來幾年將大幅提升發電燃料中天然氣的比例,在此大前提之下,新的《管制計劃協議》繼續採用回報率機制,亦在情理之中。