講座題目：Personalized Pricing, Network Effects, and Corporate Social Responsibility

講座時間：2023年7月5日（星期三）15：00-16：30

講座方式：博學925

主講人：楊立巖，多倫多大學羅特曼商學院金融學教授，Peter L. Mitchelson/ SIT Investment講席教授

楊立巖于2010年獲得康奈爾大學經濟學博士學位。其主要研究領域為金融市場、資產定價和行為金融。楊立巖教授目前擔任Journal of Financial Markets和Journal of Dynamic and Economic Control的聯(lián)合主編(co-editor)，同時擔任Journal of Economic Theory 和Management Science的副主編（Associate Editor）。曾經擔任 Journal of Finance, Journal of Financial Markets和Journal of Dynamic and Economic Control的副主編。其學術成果發(fā)表在眾多國際學術期刊，如 Journal of Economic Theory, Journal of Financial Economics, Journal of Finance, Review of Financial Studies,《經濟研究》等。其學術研究獲得眾多科研獎項，例如the 2023 Bank of Canada’s Fellowship Award, 2016 JFQA William F. Sharpe Award for Scholarship in Financial Research, the 2016 Bank of Canada’s Governor’s Award, 2015 Roger Martin Award for Excellence in Research等。

講座摘要：

We propose a theory of corporate social responsibility (CSR) by linking it to a firm’s product market. In our model, the firm’s product exhibits network effects whereby its value increases with the number of consumers who purchase it. Moreover, with advancements in technology and big data, the firm can adopt personalized pricing for each consumer. We show that such a firm could use CSR as a commitment device for low product prices, which helps overcome the coordination problem among consumers and increases firm profits, thus supporting the notion of “doing well by doing good.”