北大经院工作坊第1298场
Supply Chain Networks and the Macroeconomic Expectations of Firms
国际经济学与实证产业组织工作坊
主讲人：Jordan J. Norris（Assistant Professor at New York University Abu Dhabi）
主持老师：（北大经院）莫家伟
参与老师：
（北大经院）杨汝岱、田巍、刘政文、吴群锋
（北大新结构）王歆、徐铭梽
（北大国发院）薛思帆
时间：2026年5月28日（周四）10:00-11:30
地点：北京大学经济学院107会议室
主讲人简介：
Jordan J. Norris is an Assistant Professor of Economics at New York University Abu Dhabi. He received his PhD in Economics from Northwestern University and holds a master’s degree in Theoretical Physics from the University of Cambridge. His research lies at the intersection of spatial economics and networks, motivated by the idea that space itself can be understood as a network. Across international trade, economic geography, and macroeconomics, his work spans theory and empirics, from high-dimensional comparative statics to experimental research on how firms’ behaviour is shaped by networks.
摘要：
In a randomized control trial of customer-supplier firm pairs in New Zealand, we treat with information one firm in a pair and analyze its effects on expectations and actions of the directly treated firms (direct effect) and connected firms that did not directly receive information (spillover effect). We find strong spillover effects in expectations and actions. We show that the spillover effects on the connected firms’ expectations are driven by inter-firm communication, as opposed to observable actions. We embed inter-firm communication along the supply chain in a New Keynesian pricing problem and discuss the macroeconomic implications of input-output network-specific communication.
北大经院工作坊第1299场
Menu Pricing of Large Language Models
微观理论经济学工作坊
主讲人：Alex Smolin（Professor of Economics at Toulouse School of Economics）
主持老师：
（北大经院）吴泽南、石凡奇
（北大国发院）胡岠
参与老师：
（北大经院）胡涛
（北大国发院）汪浩、邢亦青
（北大光华）翁翕、刘烁
时间：2026年5月28日（周四）10:30-12:00
地点：北京大学经济学院305会议室
主讲人简介：
Alex Smolin is an economic theorist whose work studies how information and algorithms shape incentives, allocation, and welfare in markets, organizations, and digital platforms. His research spans information design, mechanism design, and the economics of artificial intelligence. He is a Professor of Economics at Toulouse School of Economics, a Chair at the Artificial and Natural Intelligence Toulouse Institute, a Research Affiliate at CEPR, and a member of the editorial board of theReview of Economic Studies. He received his PhD in Economics from Yale University and held visiting appointments at Northwestern University and Columbia University.
摘要：
We develop a framework for the optimal pricing and product design of LLMs in which a provider sells menus of token budgets to users who differ in their valuations across a continuum of tasks. Under a homogeneous production technology, we show that users’ high-dimensional type profiles are summarized by a scalar index, reducing the seller’s problem to one-dimensional screening. The optimal mechanism takes the form of committed-spend contracts: buyers pay for a budget that they allocate across token classes priced at marginal cost. We extend the analysis to environments with multiple differentiated models and to competition between a proprietary leader and an open-source fringe, showing that competitive pressure reshapes both the intensive and extensive margins of compute provision. Each element of our theory (token-budget menus, maximum- and minimum-spend plans, multi-model versioning, and linear API pricing) has a direct counterpart in the observed pricing practices of providers such as Anthropic, OpenAI, and GitHub.
北京大学金融工程实验室
“金工首席谈量化”系列讲座
第49讲：面向智能体平权——量化投资的差异化路径
主讲人：周小华（智臾科技(DolphinDB)创始人、CEO）
主持老师：黎新平（北大经院）
时间：2026年5月28日（周四）19:00-21:00
地点：北京大学经济学院107会议室
主讲人简介：
周小华，智臾科技(DolphinDB)创始人、CEO，美国德雷克塞尔大学信息科学和技术博士，上海交通大学学士、硕士。主要从事文本检索、数据挖掘和大数据方向的研究，在国际顶级期刊和顶级学术会议发表论文30余篇，先后在美国LYZ基金、巴克莱资本、摩根士丹利从事程序化交易策略高频交易系统的研发。2016年回国创立浙江智臾科技有限公司，带领团队研发DolphinDB数据库，成为头部银行、券商、公募基金和私募基金处理时序数据的重要基础设施。
摘要：
随着生成式AI与多模态技术的飞速发展，AI Agent（智能体）正从辅助工具向量化投研的“核心生产力”跃迁，推动行业迈向“智能体平权”的时代。本次讲座将深入探讨在AI重塑量化金融的浪潮下，机构如何构建差异化的竞争路径。主讲人将结合DolphinDB在全栈量化基础设施领域的最新实践，解析如何打造面向AI-Ready的高性能数据底座及投研范式，探讨从研报智能解析、因子自动生成到实盘交易闭环的系统化解决方案。
北大经院工作坊第1300场
Green Finance with Chinese Characteristics
计量、金融和大数据分析工作坊
主讲人：路磊（加拿大曼尼托巴大学阿斯博商学院Bryce Douglas金融学讲席教授）
主持老师：（北大国发院）沈艳
参与老师：
（北大经院）王一鸣、王熙、刘蕴霆、王法、李少然、巩爱博
（北大国发院）黄卓、张俊妮、常晋源
时间：2026年5月29日（周五）10:00-11:30
地点：北京大学国家发展研究院承泽园132教室
主讲人简介：
路磊，加拿大曼尼托巴大学阿斯博商学院Bryce Douglas金融学讲席教授，博士生导师。2007年毕业于加拿大麦吉尔大学，获得金融学博士学位。路磊教授的研究方向包括资产定价(理论和实证)，投资者行为和国际金融。研究成果发表在金融学，经济学和管理学期刊，包括Management Science, Journal of Financial and Quantitative Analysis, Journal of Corporate Finance, Journal of Financial Markets, Financial Management, Journal of Economic Dynamics and Control, Economic Theory,《管理科学学报》和《金融研究》等期刊。路磊教授主持过加拿大社会科学和人文研究理事会基金项目，国家自然科学基金面上项目，上海市浦江人才计划项目以及中国金融期货交易所的研究项目。目前担任Accounting and Finance和 Financial Review杂志的副主编。
摘要：
This study examines whether bond markets price verifiable environmental outcomes using China's carbon neutrality bonds (CNBs), which require issuers to disclose quantified and independently verified carbon emission reductions. We find that CNBs exhibit significantly lower yield spreads than both conventional green bonds and ordinary bonds, indicating a stronger green premium. More importantly, the magnitude of the premium is directly linked to environmental output: bonds promising larger reductions in CO₂ emissions have lower financing costs. Mechanism analyses show that verified carbon disclosures reduce information asymmetry, attract investors with environmental preferences, and serve as credible signals in weaker institutional environments. Overall, the evidence shows that standardized carbon-reduction metrics are priced in bond markets.
供稿：科研与博士后办公室
美编：初夏
责编：度量、雨禾、雨田
