Presenter: Assistant Professor Chen Wanyi (Xiamen University)

Host: Xu Rui, Assistant Professor (Institute of Chinese Economy, Liaoning University)

Guest Introduction: Associate Professor He Chao (Institute of Chinese Economy, Liaoning University)

Date and Time: Wednesday, June 11, 2024, 14:30 - 16:00 (Beijing Time)

Location: Conference Room on the First Floor of Wuzhouyuan, Chongshan Campus, Liaoning University

Online address: Tencent Meeting 846-7809-5157

Language: Chinese/English

Abstract:

We study innovation adoption as social learning featuring payoff externalities: adoption not only affects payoff for the adopters but also for non-adopters. We analyze the social optimal and equilibrium adoption paths when payoff externality increases and decreases in the number of adopters and compare the policies to induce efficient adoption in both cases. If the payoff externality is positive, we isolate the information effect and payoff externality effect and shows a simple policy to improve equilibrium focusing on externality; if the payoff externality is decreasing, coordination towards the slowest equilibrium improves social welfare.

Speaker's Profile:

Assistant Professor at the Wang Yanan Institute for Studies in Economics, Xiamen University. Holds a Ph.D. in Economics from the University of Wisconsin. Research interests include game theory, information economics, etc. Papers have been published in the top international academic journal Journal of Economic Theory. Has been awarded the International Natural Science Youth Fund.