Yew-Kwang Ng 黃有光

Special Chair Professor, School of Economics, Fudan University, Shanghai

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    Yew-Kwang Ng,B.Com in Economics, Nanyang University (1962-65) ; PhD in Economics, University of Sydney (1967-69); Reader and Personal Chair in Economics, Monash University (1974-2012); special chair professor in economics ofFudan University(from July 2019); Emeritus Professor, Monash University; fellow of the Academy of Social Sciences in Australia; member of Advisory Board, Global Priorities Institute, Oxford University. In 2007, he received the highest award (Distinguished Fellow) of the Economic Society of Australia. Hewasinvited to deliver the inaugural Atkinson Memorial Lecture at Oxford University in 2018. Including one published when an undergraduate, he has 11.5 papers (joint papers counted fractionally) in the top-5 journals in economics. He has also published more than 30 books and more than 250 refereed journal papers in economics, biology, cosmology, informetrics, mathematics, philosophy, psychology, and sociology, includingAmerican Economic Review, Journal of Political Economy,andReview of Economic Studies. Recent books:Common Mistakes in Economics, Nova, 2011 (open access);Markets and Morals: Justifying Kidney Sales and Legalizing Prostitution, Cambridge University Press, 2019;Evolved-God Creationism, Cambridge Scholars Publishing, 2019.

    Interviewed at the 80000hours podcast (online since 25 July 2018):

    Ten More Important Contributions in Economics [click here for detailed information with 5 more contributions beyond economics]

    1976: The necessity of cardinal utility, including an impossibility theorem in the single or intra-profile framework of social choice

    1977: A theory of third best

    1982: Combining micro, macro and general-equilibrium analysis

    1984: Separating efficiency and equality considerations in specific issues

    1987: Diamond goods and burden-free taxes

    1993: A new framework analysing the division of labour, joint with Xiaokai Yang [major contributor]

    1996: The enrichment of a sector (individual/region/country) benefits others: The third welfare theorem?

    2000: A case for higher public spending

    2003-2009: Extending welfare economics

    2004-2011: Environmental Economics (including sustainable development and climate change)


    Name:NG, Yew Kwang (Yew-Kwang NG)黄有光

    Business Address:School of Economics, Fudan University, China 200433.

    Academic Qualifications:

    B. Com. (in Economics), Nanyang University, 1966.

    Ph.D. (in Economics), University of Sydney, 1971.

    Current Position:

    Special Chair Professor, School of Economics, Fudan University, Shanghai.

    MainPrevious Positions:Personal chair in economics, 1985-2012, Monash University.

    Winsemius Professor, Division of Economics,Nanyang Technological University,2013-2019


    Emeritus Professor in Economics, Monash University, since January 2013.

    Fellow, Academy of Social Sciences in Australia since 1981.

    Biographee,Who’s Who in Economics: A Biographical Dictionary of Major Economists 1770 - 1986, Wheatsheaf, London (included in both the 2ndor 1986 edition and the 3rdor 1999 edition; inclusion according to citation counts).

    Distinguished Fellow, 2007, Economic Society of Australia.

    Advisory Board member, Global Priorities Institute, Oxford University.

    Invited to deliver the Inaugural Atkinson Memorial Lecture at Oxford University, 22 Feb. 2018:

    Interviewed at the 80000hours podcast (online since 25 July 2018):

    Fields of Research Interest:

    Welfare Economics (including social choice, public policy, environmental issues), Microeconomic Foundation of Macroeconomics, Inframarginal Analysis of Specialization; Proper Limits of Markets.



    Those Common and Unnoticed Mistakes.2018,Oriental Press, Beijing.《那些习而不察的谬误》,东方出版社。ISBN 978-7-5207-0218-8

    **Markets and Morals: Justiying Kidney Sales and Legalizing Prostitution, Cambridge University Press,2019.ISBN 978-1-316-64657-1.

    ** Evolved-God Creationism, Cambridge Scholars Publishing, 2019. ISBN: 978-1-5275-3384-4.

    B.Papers in Refereed Journals:

    *Is an increasing capital share under capitalism inevitable?European Journal of Political Economy, 38(2015): 82-6.Online at:

    * The importance of global extinction in climate change policy,Global Policy,2016, 7(3): 315-322. doi: 10.1111/1758-5899.12318.

    Richard Lipsey & Yew-Kwang Ng, “Editors’ introduction to a special issue on second and third-best theories,Pacific Economic Review,22(2): 147-54.

    *“Theory of Third best: How to Interpret and Apply”,Pacific Economic Review,22(2): 178-88.

    * *“Ten rules for public economic policy”,Economic Analysis and Policy, 2018,58: 32-42.

    *“Keynote:Global extinction and animal welfare:Two priorities for effective altruism”(Atkinson Memorial Lecture),Global Policy,10(2): 258-66.

    PUBLICATIONS (more important items are starred; unnamed items are single-authored):


    **Welfare Economics: Introduction and Development of Basic Concepts, London: Macmillan, 1979, pp. xvi + 332; second edition, 1983.

    **Mesoeconomics: A Micro-Macro Analysis. 1986, London: Harvester, pp. xvi + 267.

    *Social Welfare and Economic Policy. 1990, London: Harvester Wheatsheaf, pp. xx + 243.

    Welfare Economics(Chinese translation). 1991, Peking: Friendship Press, pp. 15 + 417.

    **Specialization and Economic Organization: A New Classical Microeconomic Framework. In “Contributions to Economic Analysis”, Vol. 215, 1993, Amsterdam: North Holland, pp. xvi + 507, with Xiaokai Yang (Monash).

    The Unparalleled Mystery.(A novel in Chinese incorporating mysteries, kungfu, love stories, and economics). Beijing: Writers Press, 1994, pp. 1-230.

    Economics and Reforms: Collected Papers of Professor Yew-Kwang Ng. (In Chinese). Beijing: Reform Press, August 1994, pp. 1-382.

    Mesoeconomics(Chinese translation). Beijing: Chinese Social Sciences Publishers, 1996.

    Increasing Returns and Economic Analysis, ed., London: Macmillan, 1998, with Kenneth Arrow and Xiaokai Yang.

    Economics and Happiness, Taipei: Maw Chang, 1999

    Specialization and Economic Organization(Chinese translation), Beijing: Economic Science Press, 1999.

    Welfare Economics, (Translation in non-simplified Chinese characters), Taipei: Maw Chang, 1999.

    Economics and Happiness, (simplified characters version), DongbeiChaijing University Press China, 2000, pp. 1 + 359 (ISBN 7-81044-727-0).Received China Book Award for 2002.

    **Efficiency, Equality, and Public Policy: With a case for Higher Public Spending, London: Macmillan, 2000, pp. vii + 189(ISBN 0-333-67165-1).

    Editorship of (and authorship of its Introduction, pp. 169-77)Pacific Economic Review’s Volume in Honour of Nobel Laureate AmartyaSen,June 2001.

    Economy and Life,Sichuan People’s Publishers, 338 pages (ISBN 7-220-05794-6/F.617). 2002.

    Efficiency, Equality, and the Foundation of Public Policy: With a case for Higher Public Spending, Chinese translation by Tang Xiang. Social Sciences Literature Publishers, Beijing, 2003, 252 pages (ISBN 7-80149-902-6/F.320).

    Ng, Yew-Kwang,Heling Shi and Guangzhen Sun, eds.(2003),The Economics of e-Commerce and Networking Decisions: Applications and Extensions of Inframarginal Analysis,London: Palgrave/Macmillan, 2003, 344 pages (ISBN 0-333-99932-0).

    **Welfare Economics:Towards a Complete Analysis, London: Macmillan, 2004,pp. xiii+355(ISBN 0-333-97121-3).

    Editorship of (and authorship of its Introduction) of a special issue onIncreasing Returns and Economic Organization, Journal of Economic Behavior and Organization, 2004, 55(2): 129-293.

    Economics and Society, Beijing: Economic Science Press, 2005, pp.277 (ISBN 7-5058-5053-0/F.4307).

    Social Welfare and Economic Policy, Peking University Press, 2005, pp.ii+276 (ISBN 7-301-07792-0/F.0924).

    Welfare Economics:Towards a Complete Analysis, Chinese translaton, published by Dongbei University of Finance and Economics Press, 2005, pp.3+255, ISBN 7-81084-667-1.

    Happiness and Public Policy: Theory, Case Studies, and Implications, Palgrave/Macmillan, London, 2006; ed. with LS. Ho.

    * Self-Selected Papers of Yew-Kwang Ng, Shanxi Economics Press, 2008. (Volume 2 of Contemporary Chinese Economists Library.) ISBN: 978-7-80636-848-0.

    * Y-K. Ng & D. Zhang (2008).Advanced Microeconomics, Shanghai Press, pp.v+280.(ISBN978-7-5432-1418-7).

    **Increasing Returns and Economic Efficiency, Palgrave/Macmillan, U.K., 2009, pp. xiii+200. ISBN 978-0-230-20209-2.

    From Mesoeconomics to Biology, 2011, Fudan University Press.ChineseTranslationby J.Y. Xue and G.F. Qiu.361 pages;ISBN: 978-7-309-07715-5/F.1649.

    *Common Mistakes in Economics:By the Public, Students, Economists, and Nobel Laureates, Nova, 2011. Open access:

    **How Did the Universe Come About? Axiomatic Evolved-‘God’ Creationism, Fudan University Press, August 2011. ISBN:978-7-309-08189-3/P.007.

    Fallacies in Economics from Nobel laureates to the Public, Fudan University Press, August 2011. ISBN:978-7-309-08267-8/F.1722.

    Fallacies in Economics from Nobel laureates to the Public,Taiwan traditional Chinese edition.Published in March 2013.ISBN: 978-986-5860-03-05. 208 pages.

    * The Road to Happiness,Fudan University Press, 2013. ISBN 978-7-309-09813-6/B-471.

    Happinessism.Wunan Press (Taiwan), Feb. 2015, pp.xii+249, ISBN 978-957-11-7983-4.

    Economic Policy and Social Welfare.Contract signed with and manuscript delivered to Fudan University Press.

    Truth and Fallacy: The Reflections of an Economist beyond Economics. Contract with and manuscript delivered to the Oriental Press.

    Those Common and Unnoticed Mistakes.2018,Oriental Press, Beijing.《那些习而不察的谬误》,东方出版社。ISBN 978-7-5207-0218-8

    **Markets and Morals: Justiying Kidney Sales and Legalizing Prostitution, Cambridge University Press,2019.ISBN 978-1-316-64657-1.

    ** Evolved-God Creationism, Cambridge Scholars Publishing, 2019. ISBN: 978-1-5275-3384-4.

    B.3-4 dozens of chapters/entries in various books, volumes and encyclopedias.

    C.Papers in Refereed Periodicals[Selected from over 250]


    *“Why do People buy Lottery Tickets?Choices involving Risk and the Indivisibility of Expenditure”,Journal of Political Economy, October 1965, 530-535.Published when an undergraduate.


    “A Note on Profit Maximization”,Australian Economic Papers, June 1969, 106-110.


    “Optimum Saving, Individual Decisions, and the Diminishing Marginal Productivity of Capital”,Economic Journal, September 1970, 749-752.


    *“The Possibility of a Paretian Liberal: Impossibility Theorems and Cardinal Utility”,Journal of Political Economy, November-December 1971, 1397-1402. Reprinted in C.K. Rowley, ed.,Social Choice Theory,1993.

    *“Recent Developments in the Theory of Externality and the Pigovian Solution”,Economic Record, June 1971, 169-185.

    “Competition, Monopoly, and the Incentive to Invent”,Australian Economic Papers, June 1971, 45-49.

    “A Note on ‘Some Cambridge Controversies in the Theory of Capital’“,Journal of Economic Literature, March 1971, 68-69.


    *“Value Judgements and Economists’ Role in Policy Recommendation”,Economic Journal, September 1972, 1014-1018. Reprinted in W. Marr and B. Raj, eds.,How Economists Explain - A Reader in Methodology, Washington: University Press of America, 1983.

    “Optimal Taxes and Pricing: Comment”,American Economic Review, March 1972, 173-174.

    *“Monopoly, X-Efficiency, and the Measurement of Welfare Loss”,Economica, August 1972, 301-308, with R. Parish (Monash).

    “Step-Optimization, Secondary Constraints, and Giffen Goods”,Canadian Journal of Economics, November 1972, 553-560.


    *“Income Distribution as a Peculiar Public Good: The Paradox of Redistribution and the Paradox of Universal Externality”,Public Finance, 1973, 1-10.

    *“The Economic Theory of Clubs: Pareto Optimality Conditions”,Economica, August 1973, 291-298.

    “Optimal Terms of Foreign Assistance: Comment”,Journal of Political Economy, March-April 1973, 488-490.


    **“Optimal Pricing with Budgetary Constraints: The Case of the Two-Part Tariff”,Review of Economic Studies, July 1974, 337-345, with M. Weisser (New England).Japanese translation, Tokyo Gas Company.

    “Harcourt’s Survey of Capital Theory: A Review Article”,Economic Record, March 1974, 119-129.

    “The Neoclassical and the Neo-Marxist-Keynesian Theories of Income Distribution”,Australian Economic Papers, June 1974, 124-132.

    “The Economic Theory of Clubs: Optimal Tax/Subsidy”,Economica, August 1974, 309-321.

    “A Note on Consumption Sharing and Nonexclusion Rules”,Economica, 1974, 446-450, with R. D. Tollison (VPI & SU).

    “Utility and Profit Maximization by an Owner-Manager: Towards a General Analysis”,Journal of Industrial Economics, December 1974, 97-108.


    *“The Paradox of Universal Externality”,Journal of Economic Theory, 1975, 258-264.

    **“Bentham or Bergson? Finite Sensibility, Utility Functions and Social Welfare Functions”,Review of Economic Studies, 1975, 545-570.

    *“Non-Economic Activities, Indirect Externalities, and Third-Best Policies”,Kyklos, 1975, 507-525.


    **“On the Existence of Social Welfare Functions, Social Orderings, and Social Decisions Functions”,Economica, February 1976, 59-66, with M. C. Kemp (N.S.W.). Reprinted in Mueller, Dennis C., ed.The Economics of Politics.Volume 2.Elgar Reference Collection.International Library of Critical Writings in Economics, vol. 131. Cheltenham, U.K. and Northampton, Mass.: Elgar; distributed by American International Distribution Corporation, Williston, Vt., 2001; 530-37.


    “More on Social Welfare Functions”,Economica, February 1977, 89-90, with M. C. Kemp (N.S.W.).

    **“Towards aTheoryof Third-Best”,Public Finance, 1977, 1-15.

    *“Aggregate Demand, Business Expectation, and Economic Recovery without Aggravating Inflation”,Australian Economic Papers, June 1977, 130-140.

    *“Sub-semiorder: A Model of Multi-dimensional Choice with Preference Intransitivity”,Journal of Mathematical Psychology, August 1977, 51-59.


    “On Optimal Club Size: Reply”,Economica, November 1978, 407-410.

    *“Economic Growth and Social Welfare: The Need for a Complete Study of Happiness”,Kyklos, 1978, 575-587. Reprinted in Easterlin, Richard A., ed.Happiness in Economics. Elgar Reference Collection.International Library of Critical Writings in Economics, vol. 142. Cheltenham, U.K. and Northampton, Mass.: Elgar, 2002; 66-77.


    **“Macroeconomics with Non-perfect Competition”,Economic Journal, September 1980, 598-610.

    *“Optimal Corrective Taxes or Subsidies when Revenue Raising Imposes Excess Burden”,American Economic Review, September 1980, 744-751.

    “Money and Happiness: First Lesson in Eudaimonology?”,Kyklos, 1980, 161-163.

    “Toward Eudaimonology: Notes on a Quantitative Framework for the Study of Happiness”,Mathematical Social Sciences, 1980, 1(51-58).


    “Welfarism: A DefenceAgainstSen’s Attack”,Economic Journal, June 1981, 91: 527-530.

    *“Bentham or Nash?On the Acceptable Form of Social Welfare Functions”,Economic Record, 1981, 57: 238-250.

    “An Argument for Utilitarianism”,Canadian Journal of Philosophy, June 1981, 11: 229-239, with Peter Singer (Monash).


    **“A Micro-Macroeconomic Analysis Based on a Representative Firm”,Economica, May 1982, 49: 121-139.

    “Macroeconomics with Non-perfect Competition: A Reply”,Economic Journal, September 1982, 92: 706-707.

    *“Beyond Pareto Optimality: The Necessity of Interpersonal Cardinal Utilities in Distributional Judgements and Social Choice”,ZeitschriftfürNationalökonomie, 1982, 42(3): 207-233.


    “Rents and Pecuniary Externalities in Cost-Benefit Analysis”,American Economic Review, December 1983, 73: 1163-1170.

    *“Macroeconomics with Non-perfect Competition: Tax-cuts and Wage Increases”,Australian Economic Papers, 1983, 22(41), 431-447, with L. McGregor (Monash).

    “Ng and Singer on Utilitarianism: A Reply”,Canadian Journal of Philosophy, June 1983, 13: 241-242, with Peter Singer (Monash).


    **“Quasi-Pareto Social Improvements”,American Economic Review, December 1984, 74(5):1033-1050.

    *“Expected Subjective Utility: Is the Neumann-Morgenstern Utility the Same as the Neoclassical’s?”,Social Choice and Welfare, 1984, 177-186.

    *“Interpersonal Level Comparability Implies Comparability of Utility Differences”,Theory and Decision, 1984, 141-147.

    “The Response of Aggregate Demand to Income, Money Supply and Price Level”,Journal of Macroeconomics, Summer 1984, 357-363.


    *“Equity and Efficiency versus Freedom and Fairness: An Inherent Conflict”,Kyklos, 1985, 495-516.


    *“On the Welfare Economics of Population Control”,Population and Development Review, June 1986, 12: 247-266.

    “Social Criteria for Evaluating Population Change: An Alternative to the Blackorby-Donaldson Criterion”,Journal of Public Economics, 1986, 29: 375-381.


    *“Diamonds are a Government’s Best Friend: Burden-Free Taxes on Goods Valued for Their Values”,American Economic Review, March 1987, 77: 186-191.

    *“Relative-Income Effects and the Appropriate Level of Public Expenditure”,Oxford EconomicPapers, June 1987, 293-300.


    “Is A Dollar A Dollar? A Response”,Oxford Economic Papers, 1988, 40, 584-586.

    *“Economic Efficiency versus Egalitarian Rights”,Kyklos, 1988, 215-237.


    “Hurka’s Gamble and Methuselah’s Paradox”,Social Choice and Welfare, 1989, 6: 45-49.

    “Interpersonal Level Comparability Implies Comparability of Utility Differences: A Reply”,Theory and Decision, 1989, 26: 91-93.

    *“Individual Irrationality and Social Welfare”,Social Choice and Welfare, 1989, 6, 87-101.

    “Diamonds Are a Government’s Best Friend: Burden-Free Taxes on Goods Valued for Their Values: Reply”,American Economic Review, December 1989, 79: 1289-1290.

    **“What Should We Do About Future Generations? The Impossibility of Parfit’s Theory X”,Economics and Philosophy, 1989, 5: 135-253.


    “The Case for and Difficulties of Using ‘Demand Areas’ for Measuring Changes in Well-Being”,Behavioral and Brain Sciences, 1990, 13(1): 30-31.

    “Welfarism and Utilitarianism: A Rehabilitation”,Utilitas, November 1990, 2(2): 171-193.

    “An Argument for Utilitarianism: A Defence”,Australasian Journal of Philosophy, December 1990, 68(4): 448-454, with Peter Singer (Monash).


    “Should We Be Very Cautious or Extremely Cautious on Measures that May Involve Our Destruction? On the Finiteness of Our Expected Welfare”,Social Choice and Welfare, 1991, 8(1): 79-88.

    *“Equivalent Changes/Differences for Percentages and Probabilities”,Quarterly of Applied Mathematics, June 1991, Volume XLIX, No. 2, 289-301.

    *“The Paradox of the Adventurous Young and the Cautious Old: Natural Selection versus Rational Calculation”,Journal of Theoretical Biology, 1991, 153: 339-352.


    “Do Individuals Optimize in Intertemporal Consumption/Savings Decisions? A Liberal Method to Encourage Savings”,Journal of Economic Behavior and Organization, 1992, 17: 101-114.

    *“Utilitarianism and Interpersonal Comparison: Some Implications of a Materialist Solution to the World Knot”,Social Choice and Welfare, 1992, 9(1): 1-15.

    *“The Older the More Valuable: Divergence between Utility and Dollar Values of Life as One Ages”,Journal of Economics (ZeitschriftfürNationalökonomie), 1992, 55(1): 1-16.

    *“Business Confidence and Depression Prevention: A Mesoeconomic Perspective”,AmericanEconomicReview, 1992, 82(2): 365-371.


    * “Mixed Diamond Goods and Anomalies in Consumer Theory: Upward-Sloping Compensated Demand Curves with Unchanged Diamondness”,Mathematical Social Sciences, 1993, 25: 287-293.

    *“Relative Income, Aspiration, Environmental Quality, Individual and Political Myopia: Why May the Rat-Race for Material Growth be Welfare-Reducing?”,Mathematical Social Sciences, 1993, 26: 3-23, with Jianguo Wang (Monash).

    “Immigration and Economic Welfare: Resource and Environmental Aspects”,Economic Record, September 1993, 69(206): 259-273, with Harry Clarke (La Trobe).

    “Tourism, Economic Welfare and Efficient Pricing”,Annals of Tourism Research, 1993, 20(4): 613-632, with Harry Clarke (La Trobe). Reprinted in Tisdell, Clem, ed.The Economics of Tourism.Volume 2.Elgar Reference Collection.International Library of Critical Writings in Economics, vol. 121. Cheltenham, U.K. and Northampton, Mass.: Elgar; distributed by American International Distribution Corporation, Williston, Vt., 2000; 324-43.

    “The International Diffusion of the Fruits of Technical Progress”,International Economic Review, May 1993, xxxiv, No. 2, 381-385,with Murray Kemp (New South Wales) and Koji Shimomura (Kobe University, Japan); reprinted in Murray Kemp,The Gains from Trade and the Gains from Aid: Essays in International Trade Theory, 160-164, London: Routledge, 1995.


    *“Theory of the Firm and Structure of Residual Rights”,Journal of Economic Behavior and Organization, 1995, 26: 107-128, with Xiaokai Yang (Monash).

    *“Work Quality and Optimal Pay Structure: Piece vs. Hourly Rates in Employee Remuneration”, EconomicLetters, 1995, 47: 409-416, with He-ling Shi (Monash).

    **“Towards Welfare Biology: Evolutionary Economics of Animal Consciousness and Suffering”,Biology & Philosophy, 1995, 10(3): 255-285.

    “Infinite Utility and Liedekerke’s Impossibility”,Australasian Journal of Philosophy, September 1995, 73(3): 408-412.

    * “A Case for Cardinal Utility and Non-arbitrary Choice of Commodity Units”,Social Choice and Welfare, 1995, 12: 255-266, with Jianguo Wang (New South Wales).

    “Population Growth and the Benefits from Optimally Priced Externalities”,Australian Economic Papers, June 1995, 113-119, with Harry Clarke (La Trobe).


    *“Complex Niches Favour Rational Species”,Journal of Theoretical Biology, 179(4): 303-311, April 1996.

    *“Happiness surveys: Some comparability issues and an exploratory survey based on just perceivable increments”,Social Indicators Research, 38(1): 1-29, May 1996.

    **“The enrichment of a sector (individual/region/country) benefits others: The third welfare theorem?”,Pacific Economic Review, Nov. 1996, 1(2): 93-115.


    *“A case for happiness, cardinalism, and interpersonal comparison”,Economic Journal, 107(445): 1848-1858, November 1997.

    “Specialization, information, and growth: A sequential equilibrium analysis”,Review of Development Economics, 1(3): 257-274, 1997, with Xiaokai Yang (Monash).

    “The paradox of interpersonal cardinal utility: a proposed solution to a central problem of public economic policy”,Public Economics Review, 2(1): 1-32, November 1997.


    “Quality adjusted life years (Qalys) versus willingness to pay in matters of life and death”,International Journal ofSocial Economics,25: 1178-1188, 1998.


    * “Utility, informed preference or happiness?”Social Choice and Welfare,16(2): 197-216, 1999.

    * “Intra-firm branch competition for a monopolist”,Australian Economic Papers, 38(3): 238-249, September 1999, with Wenli Cheng (NZ Treasury).

    “On estimating the effects of events like the Asian financial crisis: A mesoeconomic approach”,Taiwan Economic Review, 27 (4): 393-412, December 1999.

    “The effect of number and size of interest groups on social rent dissipation”,Public Choice, 101(3/4): 251-265, December 1999, with Guangzhen Sun (Monash).


    *“The optimal size of public spending and distortionary costs of taxation”,National Tax Journal,Vol. 52(2), June 2000, pp. 253-272.

    “Why do economists overestimate the costs of public spending?”,Newsletter of Royal Economic Society(UK), July 2000.

    * “The measurement of structural differences between economies: An axiomatic characterization”,Economic Theory,16, (2000), 313-321.withGuangzheng Sun.

    * “From separability to unweighted sum: A case for utilitarianism”,Theory and Decision,2000, 49: 299-312


    *Yew-Kwang Ng &Jiangou Wang, “Attitude choice, economic change, and welfare”,Journal of Economic Behaviour and Organization,2001, 45: 279-291.

    *Siang Ng & Yew-Kwang Ng “Welfare-reducing growth despite individual and government optimization”,Social Choice and Welfare, 2001, 18: 497-506.

    *“Is public spending good for you?”,World Economics,invited but refereed contribution, April-June 2001, 2(2): 1-17.


    * “The East-Asian happiness gap”,Pacific Economic Review,2002, 7(1): 51-63.

    * Yew-Kwang Ng & Siang Ng, “Do the economies of specialization justify the work ethics? An examination of Buchanan’s hypothesis”,Journal of Economic Behavior and Organization,2003, 50: 339-53.


    ** “From preference to happiness: Towards a more complete welfare economics”,Social Choice andWelfare, 2003, 20: 307-50.

    • Yew-Kwang Ng &Guangzhen Sun, “Exclusion of self evaluations in peer ratings: an impossibility and some proposals”,Social Choice and Welfare, 2003, 20(3): 443-56.

    • Yew-Kwang Ng &Yeong-Nan Yeh, “Comparative-statics without the differentiation of the first-order conditions”,Economic Letters, 2003, 78:161-6.

      “Appropriate discounting of future utilities need not be the dictatorship of the present”,Social Choice andWelfare”, 2003, 21:113-6.

      “Orthodox economics and economists: Strengths and weaknesses”,Singapore Economic Review.2003, 48(1):81-94.

      * Ng, Yew-Kwang and Po-Ting Liu, “Global environmental protection – solving the international public-good problem by empowering the United Nations through cooperation with WTO”,International Journal of Global Environmental Issues, 2003, 3(4): 409-17.


    Ng, Yew-Kwang and Ying Wu, "Multiple equilibria and interfirm macro-externality: An analysis of sluggish real adjustments",Annals of Economics and Finance, 2004, 5: 61-77.

    * “Sustainable development: A problem of environmental disruption now instead of intertemporal ethics”,Sustainable Development,2004,12: 150-60.

    *“Optimal environmental charges/taxes: Easy to estimate and surplus-yielding”,Environmental and Resource Economics,2004,28(4):395-408.


    “Intergenerational impartiality: Replacing discounting by probability weighting”,Journal of Agricultural and Environmental Ethics,2005,18(3), pp 237-57.

    * Division of labour and transaction costs: An introduction",Division of Labour& Transaction Costs, 2005, 1(1):1-13.

    “Some policy implications of behavioural economics and happiness studies for Singapore: With reference to casinos”, Invited Imminent Paper,Singapore Economic Review, 2006, 51(1): 1-18.


    “Do the economies of specialization justify the work ethics?Afurther examination ofBuchanan’s hypothesis”,Annals in Economics & Finance,2006,7(2), 385-403.

    Matthew Clarke & Yew-Kwang Ng, Population dynamics and animal welfare: Issues raised by the culling of kangaroos in Puckapunyal,Social Choice and Welfare, 2006, 27: 407-22.


    * Yew-Kwang Ng &Dingsheng Zhang(2007), “Average-cost pricing, increasing returns, and optimal output: comparing home and market production”,Journal of Economics,90(2): 167-92.

    * Yew-Kwang Ng & Siang Ng(2007),“Why should governments encourage improvements in infrastructure? Indirect network externality of transaction efficiency”,Public Finance and Management,7(4): 340-362.

    * “EternalCoase and external costs:A case for bilateral taxation and amenity rights”,European Journal of Political Economy,2007, 23: 641-59. [Awarded Best Paper Prize at the Economics and Environment Network National Workshop 2005, Australian National University.]


    ** “Environmentally responsible happy nation index”,Social Indicators Research,2008,85:425–446.

    **“Happinessstudies:Ways to improve comparability and some public policy implications”,Economic Record, June 2008, 84:253-66.

    “Why is the military draft common? Conscription and increasing returns”,Annals of Economics and Finance,November 2008.9(2): 373–384.


    * "Why Is A Financial Crisis Important? The Significance of the Relaxation of the Assumption of Perfect Competition",International Journal of Business and Economics, August 2009,8(2): 91-114. Lead paper.

    Guangzhen Sun & Yew-Kwang Ng, “The age-dependent value of time: A lifecycle analysis”,Journal of Economics,2009,97:233–250.


    *Consumption tradeoff vs. catastrophes avoidance: Implications of some recent results in happiness studies on the economics of climate change,Climatic Change,2011,105(1):109-127,DOI:10.1007/s10584-010-9880-z.

    ** Onthe origin of our cosmos: A proposition of axiomatic evolvedcosmic consciousness,Journal of Cosmology, 2011,Vol 13, 3754-3764.


    Dingsheng Zhang, Wenli Cheng & Yew-Kwang Ng (2013), Increasing returns, land use controls and housing prices in China,Economic Modelling,31:789–795.

    What could happen, will happen? A mathematical proof and an application,Applied Mathematics[p-ISSN: 2163-1409; e-ISSN: 2163-1425], 2013, 3(2): 39-44. doi:10.5923/

    * Our sub-universe, the wider universe, and their properties,International Journal of Physics,1(6): 138-145. 19 November 2013.DOI:10.12691/ijp-1-6-2.


    Why is finance important? Some thoughts on post-crisis economics,Singapore Economic Review, (2014).59(5): 1450037.


    Welfare biology as an extension of biology: Interview with Yew-Kwang Ng, by Max Carpendale,Relations: Beyond Anthropocentrism, 2015,3(2): 197-202.

    Some conceptual and methodological issues on happiness: Lessons from evolutionary biology,Singapore Economic Review,2015, 60(4).


    • The importance of global extinction in climate change policy,Global Policy,2016, 7(3): 315-322.doi: 10.1111/1758-5899.12318.


    • Are unrealistic assumptions/simplifications acceptable? Some methodological issues in economics,Pacific Economic Review,May 2016, 21(2): 180-201.


    Separating efficiency and equality, automation, and Piketty’s theory of increasing capital share,Contemporary Economic Policy, July 2016, 34(3): 396-8.

    Peter A. DIAMOND, James A. MIRRLEES, Yew-Kwang NG and Ravi KUMAR (2016). Inequality: Comments, questions, and answers,Contemporary Economic Policy, July 2016, 34(3): 412-4.

    ·How welfare biology and commonsense may help to reduce animal suffering,Animal Sentience,2016.007. Target article for peer commentary.

    Utilitarianism generalized to include animals:Response tocommentary on Ng on animal suffering,Animal Sentience,July, 2016,099.

    Welfare-reducing growth and cost-benefit analysis: Essay in memory of E.J. Mishan,Singapore Economic Review, Sep. 2016, 61(3): 9 pages.

    CHEN, Enjiao; NG, Yew-Kwang; TAN, Yu Fen; TOH, Jesselyn Shi Ying (2016).Environmentally responsible happy nation index: Refinements and 2015 rankings,Social Indicators Research,doi:10.1007/s11205-016-1422-2.


    Richard Lipsey & Yew-Kwang Ng, “Editors’ introduction to a special issue on second and third-best theories,Pacific Economic Review,22(2): 147-54.

    “Towards a theory of third best”, (reprinted fromPublic Finance1977),Pacific Economic Review,22(2): 155-66.

    *“Theory of Third best: How to Interpret and Apply”,Pacific Economic Review,22(2): 178-88.

    Richard Lipsey & Yew-Kwang Ng, “Concluding Comments to the Debate”,Pacific Economic Review,22(2): 213-28.

    Justifying the precautionary principle with expected net-welfare maximization.Animal Sentience16(12).

    “Counting citations: Generalizing the Perry-Reny index”,Journal of Informetrics, 11(3): 685-688.


    * “Ten rules for public economic policy”,Economic Analysis and Policy, 58: 32-42.

    “Market versus government: Welfare-economic and mesoeconomic perspectives”,Macroeconomic Review, 17(2): 93-100.


    * “Keynote:Global extinction and animal welfare:Two priorities for effective altruism”(Atkinson Memorial Lecture),Global Policy,10(2): 258-66.

    D.A number of book reviews inEconomica, Economic Record, Journal of Economic Literature, Manchester School, Social Choice and Welfare, etc.

    E.About one thousandarticles in the popular press in Australia, China Mainland, Hong Kong, Singapore, Taiwan, etc.



    Special Chair Professor, School of Economics, Fudan University, Shanghai






    Office Address

    600 Guoquan Road

    Yangpu District