Lecture 1：
Topic：Managing Network Mobility with Tradable Credits
Lecturer：Professor Yang Hai,The Hong Kong University of Science and Technology
Time：2010-7-16（Friday）9:30-11:30 a.m.
Location：New Main Building A1136
Organizer：The Department of Business Administration
Abstract：
This paper makes a theoretical investigation of a tradable congestion credit scheme in a general network with homogeneous travelers. With such a scheme, the social planner initial distributes a certain amount of credits to all eligible travelers, charge a link-specific amount of credits from travelers using that link, and allow for free trading of the credits among travelers. For a given credit distribution and credit charging scheme, we demonstrate that, under standard assumptions, a unique equilibrium link flow pattern with either fixed or elastic demand can be obtained by solving a standard traffic equilibrium model subject to a total credit consumption constraint,and the equilibrium credit price in the credit trading market is conditionally unique.
We further show that the tradable credit scheme, through appropriate distribution of credits among travelers and selection of link credit consumption rates, can obtain and sustain most desirable network flow patterns, such as social optimum, Pareto-improving and revenue-neutral traffic flow pattern generated by the various pricing cum revenue-refunding or subsiding schemes proposed in the literature.
Lecture 2：
Topic：Equilibrium Properties of Taxi Markets with Search Frictions
Lecturer：Professor Yang Hai，The Hong Kong University of Science and Technology
Time：2010.07.20（Tuesday）9:30-11:30 a.m.
Location：New Main Building A1136
Organizer：The Department of Business Administration
Abstract：
This paper investigates the equilibrium properties of an aggregate taxi market with a general bilateral searching and meeting function, which characterizes the search frictions between vacant taxis and unserved customers.
Three specific issues are analyzed for meeting functions that exhibit increasing,constant and decreasing returns to scales, respectively.
Firstly, both service quality in terms of customer wait/search time and average profit per taxi are examined jointly in relation with taxi fleet size, and a Pareto-improving win-win situation
