Assistant Professor of Economics
China Center for Behavioral Economics and Finance, Southwestern University of Finance and Economics
PhD in Economics
School of Economics and Management, Tsinghua University
BS in Economics and Math
Guanghua School of Management (Yuanpei Project) and School of Mathematical Sciences, Peking University
Income shocks increase religious giving because donors use charity as a form of spiritual insurance; the paper combines bank transaction data with a large field experiment.
Journal of Financial and Quantitative Analysis (accepted)
Characterizes safe rights transitions in dynamic assignment markets and shows how exchange titles insure licensed investments through a title-insurance hypergraph.
Yield restrictions can trigger funding flight toward redemption and weaken stablecoin issuer recovery, while settlement netting can restore the intended policy effect.
Introduces a college-admissions mechanism with flexible seat allocation that is stable, strategy-proof, and welfare-improving relative to standard deferred acceptance.
Common AI model adoption can expose banks to unpriced correlated errors, producing too little model diversity and greater systemic risk.
Reliable assignment aftermarkets insure main-round failure but induce strategic reaching, and priority cannot preserve discipline once rescue demand exhausts available seats.
Characterizes how stationary screening jointly determines current allocations and future type distributions, and prices the output cost of cohort-composition targets through a location tax.
With imperfectly observed ability, Immediate Acceptance can outperform Deferred Acceptance and, under a transparent indifference condition, can even implement the welfare-maximizing allocation.
Studies how IPO regulation can unintentionally facilitate collusion by enabling self-organized investor cartels in primary markets.
Examines how opinion leaders transmit both information and emotion in online investor communities, shaping attention and trading behavior.
Investors with paper losses may donate more rather than less, consistent with spiritual insurance rather than a standard wealth effect of financial markets.
AI college-application tools can create congestion externalities by generating highly similar safety-school recommendations; this paper studies the resulting mechanism-design implications.
A game-theoretic analysis of subject-choice incentives under China's gaokao reform and the role of subject guarantees in restoring balance.
经济学（季刊）刊首文章，年度最佳论文 (China Economic Quarterly, Lead Article; Annual Best Paper Award)