Yuk-fai Fong
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
可程式化央行数码货币下的新政策

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。

可程式化央行数码货币下的新政策

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。

无差异曲线与产品设计策略

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。

无差异曲线与产品设计策略

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。

创造人人都能写程式的社会

编写电脑程式(computer programming)是将特定任务转换为电脑可以理解命令的过程,以便电脑执行所述任务。编写程式是当今科技大趋势的支柱;包括人工智能、机器学习、数据科学、预测分析、区块链和数字化转型。而且这些新科技更可为人类创造巨大价值。根据麦肯锡估计,到2030年,人工智能将会带来约13万亿美元的经济产出,使全球生产总值每年提升约1.2%。另外,根据微软2018年的估计,到2021年,数字化转型将为印度贡献1540亿美元的生产总值,合计为亚太地区GDP贡献超过1万亿美元的生产总值。

创造人人都能写程式的社会

编写电脑程式(computer programming)是将特定任务转换为电脑可以理解命令的过程,以便电脑执行所述任务。编写程式是当今科技大趋势的支柱;包括人工智能、机器学习、数据科学、预测分析、区块链和数字化转型。而且这些新科技更可为人类创造巨大价值。根据麦肯锡估计,到2030年,人工智能将会带来约13万亿美元的经济产出,使全球生产总值每年提升约1.2%。另外,根据微软2018年的估计,到2021年,数字化转型将为印度贡献1540亿美元的生产总值,合计为亚太地区GDP贡献超过1万亿美元的生产总值。

后疫情时代的挑战与机遇

网上流传这样一条选择题:「疫情过后,谁在主导你公司业务的数码转型?」答案并非行政总裁或技术总监,而是2019冠状病毒。这个答案虽听上去颇具玩笑意味,但却甚具现实意义。

后疫情时代的挑战与机遇

网上流传这样一条选择题:「疫情过后,谁在主导你公司业务的数码转型?」答案并非行政总裁或技术总监,而是2019冠状病毒。这个答案虽听上去颇具玩笑意味,但却甚具现实意义。

后疫情时代的政策建议

迄今为止,2019冠状病毒病(COVID-19)的疫情还远未结束。尽管病毒仍在世界各地肆虐,香港仍需依赖严格的旅游限制和检疫措施来阻止病毒变种的流入,但我们建议政府,应提早研究后疫情时代的新常态,并根据研究制定相关政策,从而让本港经济得益。

后疫情时代的政策建议

迄今为止,2019冠状病毒病(COVID-19)的疫情还远未结束。尽管病毒仍在世界各地肆虐,香港仍需依赖严格的旅游限制和检疫措施来阻止病毒变种的流入,但我们建议政府,应提早研究后疫情时代的新常态,并根据研究制定相关政策,从而让本港经济得益。