On the morning of April 3, the 16th lecture of the “Bai Qinxian Lecture Series” was successfully held at the Academic Lecture Hall 401 in the Administrative Building of the Puhe Campus, Liaoning University (LNU). Associate Professor Emre Usenmez from the University of Cambridge delivered the lecture as the keynote speaker. Professor Huo Chunhui, Vice President of LNU, attended the event. Professor Li Weimin, Director of the CFCC Research Institute at LNU, introduced the keynote speaker. The lecture was chaired by Professor Yuan Shaofeng from the School of Business, LNU.
Prof. Emre Usenmez delivered a lecture titled “There are no solutions, only tradeoffs”, delving deeply into the significant value of applying economic thought to the fields of law and regulation. Through vivid case studies, he explained the critical role of property rights systems in reducing resource waste and emphasized that combining property rights with contracts can lead to more efficient resource optimization. By analyzing the pros and cons of regulation, he stressed the need to balance discretionary authority with the clarity of rules in legal commands to avoid excessive intervention or distortions in incentives. Taking international ship emission regulations as an example, Associate Professor Usenmez illustrated that policy-making requires weighing administrative costs against actual outcomes. He further pointed out that in emerging fields such as artificial intelligence, flexible standards are more beneficial for reducing waste and promoting innovation than rigid rules. The lecture was incisive and accessible, providing participants with a deeper understanding of the importance of trade-offs in economic decision-making while offering valuable thought frameworks for their consideration.
After the lecture, Huo Chunhui presented Prof. Emre Usenmez with the commemorative certificate of the Bai Qinxian Lecture Series.
Prof. Li Weimin, Director of the CFCC Research Institute at LNU, along with over 90 faculty and student representatives from the School of Business, School of Economics, and Asia-Australia Business College, attended the lecture.
About Prof. Emre Usenmez:
Emre Usenmez is an Associate Professor at the University of Cambridge and the Academic Director of the Cambridge Institute for Sustainability Leadership (CISL). He also serves as an instructor of Economics at Gonville and Caius College. His research focuses on energy and natural resources, legal and regulatory mechanisms, and sustainable finance, with a particular emphasis on addressing sustainability challenges through an interdisciplinary approach.
