Yuk-fai Fong
Prof. Yuk-fai FONG
Economics
Management and Strategy
Associate Dean (Taught Postgraduate)
Professor

3917 0026

KK 1101

Publications
Potential anti-competitive effects of algorithmic pricing

疫情肆虐加速普羅大眾把購物習慣從線下轉向線上。根據IBM美國零售指數的最新數據,冠狀病毒大流行讓零售業從實體店轉向網上購物的進程提早了約5年;經濟合作暨發展組織(OECD)的報告也指出:疫情正在加快電子商務平台向新的客戶和產品擴展速度。毋庸置疑,進程產生好處:企業從實體經營轉向線上業務時,降低了成本,同時提高了生產效率。但若要確保消費者能從中受益,線上平台所處的經營環境應該保持競爭性。能否維持這一點,未來仍存在不少變數,其中讓人擔心的是,以機器學習為核心的定價算法可能對營商環境的競爭帶來潛在負面影響。

The future of robotics, AI and employment

The article 《機械人技術 人工智能和就業的未來》 was originally published in Hong Kong Economic Journal column 「龍虎山下」

Everyone can win in business – or can they?

‘Workers against bosses’ is a common theme, but mutual interest is more important in creating value, according to HKU Business School professors.

The pandemic’s impact on education quality and equality

經濟學家普遍認為,教育對經濟增長和發展具有積極影響。在個人層面上,教育可以提高個人的生產力和收入。同時,教育對社會有正外部性經濟效應:除了享有更高個人收入,受過良好教育的經理和企業家可以幫助公司發展業務,創造更多就業機會,並且給股東帶來更高的回報;訓練有素的醫生可以挽救更多生命;精通法律的律師可以更好地維護社會公義;博學又尊業的老師能夠更好地傳授知識;擁有前沿知識的科學家和工程師將帶動更多的創新,進而促進經濟發展。

Blue ocean strategy against coronavirus crisis

新冠肺炎已經感染了410萬人口,並且導致28萬人喪生。相對於其他地區,香港的感染和死亡人數顯著較低。截至5月11日,已經連續22天沒有新增本地傳染個案了。

Negotiated Block Trade and Rebuilding of Trust

We investigate the impact of corporate governance on customers' trust using a dynamic model of experience‐goods firm. In the optimal equilibrium, customers' trust in the firm is linked to its behavior in the market for corporate control, so that the controlling shareholder has incentives to ensure high product quality while noncontrolling shareholders' interests are protected. Following a trust‐damaging event, turnover of the controlling share block restores customers' trust and enhances total shareholder value. Our analysis identifies an endogenous cost of corporate control, offers implications for the control premium, and provides a novel rationale for the separation of ownership and control.

Price hikes and panic buying amid coronavirus outbreak

目前新型冠狀肺炎全球肆虐,之前部分防疫物資,例如外科手術口罩、防護衣等短缺。市民大眾囤積大米、廁紙等生活必需品,不同媒體(包括BBC)就曾報道,此等囤積行為愚蠢、不理性。部分商店亦趁機抬高相關物品價格,一盒50個口罩售價曾暴升至380元【註】。有人提議政府應盡快立法,限制防疫物資價格上漲,有人則持相反意見;

Using Customer Service to Build Clients’ Trust

It is well known in the credence‐good literature that in an expert‐client relationship, under the Liability assumptions, clients have to reject the expert’s serious‐treatment recommendations with a positive probability to ensure that the expert honestly recommends treatments. Inefficiency arises because some socially efficient treatments are not provided. We show that the expert can enhance clients’ trust, or acceptance rate of the serious treatment, by providing intrinsically socially inefficient customer service upon recommending the serious treatment. Enhanced clients’ trust leads to higher efficiency and higher profit for the expert. However, trust cannot be enhanced by providing customer service with different timing.