讲座题目：Personalized Pricing, Network Effects, and Corporate Social Responsibility

讲座时间：2023年7月5日（星期三）15：00-16：30

讲座方式：博学925

主讲人：杨立岩，多伦多大学罗特曼商学院金融学教授，Peter L. Mitchelson/ SIT Investment讲席教授

杨立岩于2010年获得康奈尔大学经济学博士学位。其主要研究领域为金融市场、资产定价和行为金融。杨立岩教授目前担任Journal of Financial Markets和Journal of Dynamic and Economic Control的联合主编(co-editor)，同时担任Journal of Economic Theory 和Management Science的副主编（Associate Editor）。曾经担任 Journal of Finance, Journal of Financial Markets和Journal of Dynamic and Economic Control的副主编。其学术成果发表在众多国际学术期刊，如 Journal of Economic Theory, Journal of Financial Economics, Journal of Finance, Review of Financial Studies,《经济研究》等。其学术研究获得众多科研奖项，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。

讲座摘要：

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.”