From May 16 to 18, the "Fourth Annual Conference of the Chinese Association of Environmental and Resource Economists (CAERE) and the SUFE Environmental and Resource Economics Forum" was held at Shanghai University of Finance and Economics. More than 200 experts and scholars from renowned universities and research institutions at home and abroad attended the conference, including Cornell University, North Carolina State University, the National University of Singapore, and the Chinese University of Hong Kong, as well as Peking University, Tsinghua University, Fudan University, Zhejiang University, Shanghai Jiao Tong University, Renmin University of China, the Chinese Academy of Sciences, and the Ministry of Ecology and Environment. The conference received more than 200 submissions in total, and after expert review, 80 papers were accepted.
The morning of May 17
Professor Yao Lingzhen, Vice President of Shanghai University of Finance and Economics; Professor Shi Minjun, President of the Chinese Association of Environmental and Resource Economists; and Professor Zhou Yahong, Dean of the School of Economics at Shanghai University of Finance and Economics, delivered speeches at the opening ceremony.
Vice President Yao Lingzhen, on behalf of Shanghai University of Finance and Economics, extended a warm welcome to the experts and scholars from home and abroad. In her speech, she pointed out that frontier issues such as green, low-carbon development and sustainable development are of great practical significance, and China's role in addressing global environmental challenges is becoming increasingly important. She expressed the hope that scholars would continue to conduct in-depth research in fields such as green, low-carbon development and new energy transition, spark intellectual exchanges through discussion, and jointly promote the prosperity of the discipline.
President Shi Minjun reviewed the development history and purpose of the Association since its establishment in his speech, emphasizing that the Association is committed to building a platform for exchange and cooperation among Chinese scholars worldwide and promoting the continuous advancement of research in resource and environmental economics. He spoke highly of the academic value and practical significance of this annual conference, noting that it not only provided innovative ideas for academia but also offered important references for solving the challenges of green development.
Dean Zhou Yahong, on behalf of the School, extended a warm welcome to the participating scholars and briefly introduced the School of Economics' history, faculty strength, and recent achievements in publishing in high-level journals. He stated that this annual conference brought together outstanding scholars in the field of environmental and resource economics from home and abroad, aiming to promote the deep integration of theoretical innovation and policy practice through the sharing of academic achievements and to provide solutions for green development.
Subsequently, Professor Wang Shouyang, Distinguished Research Fellow of the Chinese Academy of Sciences and Academician of the World Academy of Sciences for the advancement of science in developing countries (TWAS), and Professor Roger H. von Haefen of North Carolina State University and Co-Editor of Journal of Environmental Economics and Management, delivered keynote speeches respectively.
Professor Wang Shouyang delivered a speech titled "Several Case Studies in Environmental Economics Based on Social Computing." Drawing on seven cases—including Bitcoin mining and carbon emissions, photovoltaic poverty alleviation, economic cost estimation for the 1.5°C target, and comparisons of China's carbon footprint—he emphasized that social computing can provide multi-dimensional, visualized, and simulatable empirical support for climate policy, helping policymaking become more forward-looking and adaptive.
Professor Roger H. von Haefen delivered a speech titled "The Economics of Oil Spills." Focusing on the economic impacts of global oil spill incidents, he analyzed the compensation mechanisms under the "polluter pays" system in the United States and China, and introduced the practical application of quantitative tools such as Natural Resource Damage Assessment (NRDA) in environmental disasters.
The opening ceremony and keynote speeches were chaired by Professor Lin Liguo, Party Secretary of the School of Economics and Chair of the Department of Resource and Environmental Economics at Shanghai University of Finance and Economics.
The afternoon of May 17
Associate Professor Nicolai Kuminoff of Arizona State University and Editor-in-Chief of Journal of the Association of Environmental and Resource Economists, and Professor Zhao Jinhua, Dean of the Charles H. Dyson School of Applied Economics and Management at Cornell University, delivered keynote speeches respectively.
Associate Professor Nicolai Kuminoff delivered a speech titled "Optimal Second-Best Menu Design: Evidence from Residential Electricity Plans." He presented a study based on electricity usage data from 1.1 million households in Arizona, USA, revealing the welfare losses of existing time-of-use electricity pricing mechanisms. He proposed that a "second-best menu" that balances dynamic pricing, user heterogeneity, and institutional constraints can achieve the dual goals of maximizing social welfare and ensuring power system stability.
Dean Zhao Jinhua delivered a speech titled "Ambient Air Pollution, Pollution Exposure, and Inattention." He shared a field experiment conducted in Shenyang, China, on air pollution and attention effects. He found that individual defensive behaviors (such as wearing masks) can effectively reduce pollution exposure, while ignoring such behaviors will seriously underestimate the non-health costs brought by pollution. The study also revealed differences in sensitivity to pollution impacts by gender and employment status.
The keynote speech session on the afternoon of May 17 was chaired by Associate Professor Xu Yuan of the Chinese University of Hong Kong.
May 18
Professor Chen Zhao of the School of Economics at Fudan University and Hu Ruohan, Co-founder and General Manager of Youji Shu Information Technology Co., Ltd., delivered keynote speeches respectively.
Professor Chen Zhao spoke on the theme "How to Design a Great Research Project?" He elaborated from three aspects: using literature to inspire research ideas, balancing academic and practical value, and responding to international issues with Chinese cases. Through representative studies published in JEEM and AER, he emphasized the importance of "explaining China's experience and contributing to global theory."
General Manager Hu Ruohan delivered a speech titled "Fintech in Climate Risk Analysis Practice and the Application of ESG Data in Academia." She presented her independently developed climate risk assessment system, YoujiCRMS. The system integrates AI and geographic big data to provide global users with ESG analysis solutions featuring 5-meter precision and full-scenario coverage. It has been successfully applied to climate disaster prediction, corporate carbon disclosure, and green investment screening.
The conference presented the Best Paper Awards of this annual conference, with first, second, and third prizes awarded to several papers to recognize outstanding research contributions by young scholars in the field of resource and environmental economics.
First Prize
Urban-Based, Urban-Biased? The Economic Effects of Air Quality Monitoring Systems
Authors: Guojun He, Naiyuan Hu, Huanhuan Wang, Zhiqiang Zhang
Second Prize
Raining on Bonds: The Impact of Extreme Rainfall on Local Financing Costs
Authors: Zhenhuan Yang, Yangsiyu Lu
Strategic Consideration and Optimal Timing of Critical Minerals' Depletion, Recycling, and Substitution
Authors: Yiwen Chen, Nora Paulus, Weihua Ruan, Benteng Zou
Third Prize
Government and Nature: Evidence from the Distribution of Flood Damages in China
Authors: Yixiao Hu, Yifan Wang
Demystifying China's Emissions Fall: The Critical Role of Clean Technology
Authors: Ohyun Kwon, Hongsong Zhang, Hao Zhao, Min Qiang Zhao
Professor Wang Hua, Founding President of the Chinese Association of Environmental and Resource Economists, spoke highly of the significance of this annual conference for exchange and cooperation in China's environmental, resource, and ecological research fields. He stated that the annual conference, by building a dialogue platform, brought together experts and scholars from home and abroad for in-depth dialogue on the development of environmental and resource economics, precisely aligning with national strategic needs in theoretical exploration, and providing more thinking and inspiration for related research. Its academic frontier nature and organizational standards are now comparable to top international academic conferences.
The keynote speeches and closing ceremony on the morning of May 18 were chaired by Professor Li Shanjun of Cornell University.
May 16
On the evening of May 16, the "Pre-conference Lecture" of this annual conference was held at Shanghai University of Finance and Economics. Associate Professor Nicolai Kuminoff of Arizona State University and Editor-in-Chief of Journal of the Association of Environmental and Resource Economists, and Professor Li Shanjun of Cornell University focused on key issues in environmental economics, conducting in-depth discussions on frontier theories and empirical progress, creating a good academic atmosphere for the official opening of the annual conference.
Associate Professor Nicolai Kuminoff delivered a special lecture titled "Hedonic and Sorting Models for Environmental Valuation." From both theoretical and empirical dimensions, he systematically reviewed the "hedonic model" and the "sorting model," which are widely used in environmental valuation.
Professor Li Shanjun spoke on "Environmental Policies under Imperfect Competition," exploring the optimization path of environmental policy under imperfect competition. He pointed out that the traditional "Pigouvian tax" is no longer applicable in monopoly or oligopoly markets and needs to be redesigned by incorporating price distortions and marginal environmental damage.
The "Fourth Annual Conference of the Chinese Association of Environmental and Resource Economists and the SUFE Environmental and Resource Economics Forum" focused on frontier issues such as climate change, energy transition, and green, low-carbon development. It featured multiple segments, including keynote speeches, parallel forums, and thematic seminars, with rich content and in-depth exchanges. The conference fully demonstrated the research progress and international influence of Chinese scholars in the field of resource and environmental economics, and further promoted domestic and international academic cooperation and disciplinary development. The 2026 annual conference will be jointly hosted by Nanjing University and Nanjing University of Finance and Economics.
