在3月22日，超过1800名科技界领袖签署了一份请愿书，呼吁暂停开发比GPT-4更强大的人工智能（Artificial Intelligence, AI）系统至少6个月，签署者包括特斯拉的联合创办人伊隆．马斯克（Elon Musk）、认知科学家加里．马库斯（Gary Marcus）、苹果联合创始人史蒂夫．沃兹尼亚克（Steve Wozniak），以及Amazon、DeepMind、Google、Meta和Microsoft等主要科技公司的工程师。
12 Apr 2023
教学人员
Prof. Yuk-fai FONG
经济学
管理及商业策略
Associate Dean (Taught Postgraduate)
Professor
3917 0026
KK 1101
Academic & Professional Qualification
- PhD: Boston University
- Master: Chinese University of Hong Kong (MPhil)
- Bachelor: Chinese University of Hong Kong (BSSc)
Biography
Professor Yuk-fai Fong is a Professor of Management and Strategy, with joint appointment in Economics. Prior to HKU, he has taught at Kellogg School of Management and Hong Kong University of Science and Technology. Professor Fong received his BSSc and MPhil in Economics from Chinese University of Hong Kong, and PhD in Economics from Boston University.
His research interests include Industrial Organization, Competition Policy, Dynamic Games, and Applied Microeconomic Theory. He serves as an Editor for B.E. Journals of Theoretical Economics. His research has appeared at leading international journals such as Journal of Political Economy, Review of Economic Studies, RAND Journal of Economics, Journal of Economic Theory, International Economic Review, Games and Economic Behavior, Journal of Industrial Economics, and Journal of Economics and Management Strategy. He has consulted for companies such as Shell Oil Company and Platinum Guild International, and is an academic affiliate with Compass LexEcon. Professor Fong won the HKUST Franklin Prize for Teaching Excellent (MBA Required Courses) in 2017, and was a finalist for the award in 2013, 2014, and 2016.
Teaching
- HKU: EMBA Strategic Management, EMBA Managerial Economics, MBA Managerial Economics, MBA Python for Managers and Strategists, MEcon Antitrust Economics and Competition Policy; Undergrad Strategic Management
- HKUST: EMBA Orientation Program, EMBA Homecoming Module, EMBA Managerial Microeconomics, Kellogg-HKUST EMBA Talk, MBA Opening Module, MBA Homecoming, MBA Managerial Microeconomics, ExecEd Value Creation, PhD Microeconomics, PhD Industrial Organization, MSc Topics in Industrial Organization, MSc Antirust Economics and Competition Policy
- Kellogg: MBA Strategy and Organization
Research Interest
Industrial Organization, Competition Policy, Dynamic Games, Applied Microeconomic Theory
Selected Publications
- “Trust Building in Credence Goods Markets”, (with Ting Liu and Xiaoxuan Meng), American Economic Journal: Microeconomics, February 2022, 14(1), 490-528.
- “Negotiated Block Trade and Rebuilding of Trust”, (with Pak Hung Au and Jin Li), International Economic Review, May 2020, 61(2), 901-939.
- “Using Customer Service to Build Clients’ Trust”, (with Xiaoxiao Hu, Ting Liu and Xiaoxuan Meng), The Journal of Industrial Economics, March 2020, 68 (1), 136-155.
- “Liability and Reputation in Credence Goods Markets”, (with Ting Liu), Economics Letters, May 2018, 166, 35-39.
- “Signaling by an Informed Service Provider”, (with Frances Xu Lee), Journal of Economics and Management Strategy, Winter 2017, 26 (4), 955-968.
- “Relational Contracts, Limited Liability, and Employment Dynamics”, (with Jin Li), Journal of Economic Theory, May 2017, 169, 270-293.
- “Information Revelation in Relational Contracts”, (with Jin Li), The Review of Economic Studies, January 2017, 84 (1), 277–299.
- “When Does Aftermarket Monopolization Soften Foremarket Competition”, (with Jin Li and Ke Liu), Journal of Economics and Management Strategy, Winter 2016, 25(4), 852–879.
- “On the Role of Verifiability and Commitment in Credence Goods Markets”, (with Ting Liu and Donald J. Wright), International Journal of Industrial Organization, November 2014, 37, 118-129.
- “Long-lived Consumers, Intertemporal Bundling and Collusion”, (with Jim Dana), The Journal of Industrial Economics, December 2011, 59(4), 609–629.
- “Product Quality, Reputation, and Market Structure”, (with Jim Dana), International Economic Review, November 2011, 52(4), 1059–1076.
- “Loyalty Rewards Facilitate Tacit Collusion”, (with Qihong Liu), Journal of Economics and Management Strategy, 20 (3), Fall 2011, 739–775.
- “Bidding in a Possibly Common-Value Auction”, (with Daniel F. Garrett), Note, Games and Economic Behavior, 70 (2), November 2010, 494-501.
- “Private Information of Nonpaternalistic Altruism: Exaggeration of Generosity and Reciprocal Behavior”, B.E. Journal of Theoretical Economics (Advances), 9(1), 2009, Article 1. (One of two finalists, 2008 Arrow Prize for Junior Economists)
- “On the Optimal Degree of Cooperation in the Repeated Prisoner’s Dilemma with Side Payments”, (with Jay Surti), Games and Economic Behavior, September 2009, 67 (1), 277–291.
- “Compensation for Quality Difference in a Search Model of Money”, (with Balázs Szentes), International Economic Review, 46 (3), August 2005, 957-971.
- “When do Experts Cheat and Whom do They Target?”, RAND Journal of Economics, 36 (1), Spring 2005, 113-130.
- “The Identification of Unobservable Independent and Spousal Leisure”, (with Junsen Zhang), Journal of Political Economy 109 (1), February 2001, 191-202.
Service to the University/Community
- Editor, B.E. Journals of Theoretical Economics, 2012- (Associate Editor, 2006-2012)
- Associate Editor, International Journal of Industrial Organization, 2009-January 2021
- Associate Editor, Taiwan Economic Review, 2012-2014
- Director, Center for Experimental Business Research, HKUST, 2013-2018
- Nominator, China Economic Prize, for National Economic Foundation, China, 2016, 2017, 2018
- Co-chair, 12th Workshop on Industrial Organization and Management Strategy, 2016
- Chair, HKUST Workshop on Industrial Organization, 2017, 2018
- Executive Committee Member, Hong Kong Economic Association, 2017-
- Advisory Committee Member, Curriculum Development Council and Hong Kong Examinations and Assessment Authority Committee on Economics (Senior Secondary), 2013 –2017.
- Advisory Committee Member, Diploma of Secondary Education Economics Subject Committee in 2013-2015.
Recent Publications
12Apr
12Apr
在3月22日，超过1800名科技界领袖签署了一份请愿书，呼吁暂停开发比GPT-4更强大的人工智能（Artificial Intelligence, AI）系统至少6个月，签署者包括特斯拉的联合创办人伊隆．马斯克（Elon Musk）、认知科学家加里．马库斯（Gary Marcus）、苹果联合创始人史蒂夫．沃兹尼亚克（Steve Wozniak），以及Amazon、DeepMind、Google、Meta和Microsoft等主要科技公司的工程师。
12 Apr 2023
管理及商业策略
8Feb
香港特首李家超在其首份《施政报告》中设定目标，在2025年年底前，要吸引不少于200个家族办公室在香港开设营业部或扩大业务。家族办公室的发展对香港经济有重大益处。
8 Feb 2023
教学人员
8Feb
香港特首李家超在其首份《施政报告》中设定目标，在2025年年底前，要吸引不少于200个家族办公室在香港开设营业部或扩大业务。家族办公室的发展对香港经济有重大益处。
8 Feb 2023
教学人员
8Feb
香港特首李家超在其首份《施政报告》中设定目标，在2025年年底前，要吸引不少于200个家族办公室在香港开设营业部或扩大业务。家族办公室的发展对香港经济有重大益处。
8 Feb 2023
教学人员
21Dec
一个有关ESG的经济问题是，公司在对社会做「好事」的同时，能否做一盘「好」的生意？这篇文章将提出一个理论来回答这个问题，并引用研究结果及案例，来证实这个论点。
21 Dec 2022
教学人员
21Dec
一个有关ESG的经济问题是，公司在对社会做「好事」的同时，能否做一盘「好」的生意？这篇文章将提出一个理论来回答这个问题，并引用研究结果及案例，来证实这个论点。
21 Dec 2022
管理及商业策略
10Aug
鉴于金融技术的进步和全球各大经济体逐步迈向数码化转型，我们预期在可见的未来，央行将由发行实体现金转向发行数码货币，并将其普及化。事实上，在近几十年的批发性支付系统内，银行接受央行数码货币的情况已屡见不鲜。谢国生博士与何敏淙先生在2021年9月29日的〈龙虎山下〉专栏中撰文解释了央行数码货币（CBDC）的发展已经蓄势待发，读者可前往参考这篇富启发性的文章。
10 Aug 2022
教学人员
10Aug
鉴于金融技术的进步和全球各大经济体逐步迈向数码化转型，我们预期在可见的未来，央行将由发行实体现金转向发行数码货币，并将其普及化。事实上，在近几十年的批发性支付系统内，银行接受央行数码货币的情况已屡见不鲜。谢国生博士与何敏淙先生在2021年9月29日的〈龙虎山下〉专栏中撰文解释了央行数码货币（CBDC）的发展已经蓄势待发，读者可前往参考这篇富启发性的文章。
10 Aug 2022
管理及商业策略
18May
无差异曲线图是一个经济学工具，分析消费者如何将固定的预算分配在不同的产品上，从而达到最大的效益，相信曾修读经济学的读者会对以下的典型无差异曲线图感到熟悉。
18 May 2022
教学人员