时间：2016/02/26 ，10：00-12:00

地点：威廉希尔一楼院史馆

主讲人：Gong Jiong

主讲题目：The Tradeoff of the Commons undere Stochastic Use

主讲人介绍：Dr. John Gong is professor of economics at the University of International Business and Economics (UIBE), where he teaches and researches in areas of microeconomics, finance, industrial organization, and antitrust and competition policies.

内容简介：We develop a model of scarce renewable resources to study the problem of the commons. Our model formulation differs from the existing literature in that it assumes the use of the commons to be stochastic in nature. One example is microwave spectrum for mobile and wireless communications. We investigate three mechanisms of resource allocation: free usage, the exclusive franchise, and a regulated monopoly. We show that the welfare tradeoff among these three mechanisms depends on the characteristics of the commons and their usage patterns. In particular, we find that property rights are not always the best solution. We then make threeextensions that apply to spectrum allocations.