NAME: Hwan-sik Choi (

Associate Professor
Department of Economics
Binghamton University

4400 Vestal Parkway E.
Binghamton, NY 13902
Phone: (607) 777-7356

CITIZENSHIP: Republic of Korea         VISA: U.S. Permanent Resident


Ph.D., Economics, Cornell University (2007).
M.A., Economics, Cornell University (2006) and Seoul National University (2001).
M.S., Statistics, Cornell University (2007).
B.S., Aerospace engineering / economics, Magna cum laude, Seoul National University (1997).


Associate Professor, Department of Economics, Binghamton University, 2016~Present.
    Research Fellow, Info-Metrics Institute, 2018~Present.
Assistant Professor, Department of Economics, Binghamton University, 2013~2016.
Assistant Professor, Department of Consumer Science, Purdue University, 2010~2013.
Visiting Assistant Professor, Department of Economics, Texas A&M University, 2008~2010.
Economist, Federal National Mortgage Association (Fannie Mae), Washington D.C., 2007~2008.
Research Assistant, Risk Analysis Division, The Office of the Comptroller of the Currency, U.S. Department of the Treasury (Part time), 2005~2007.


Model selection; Diffusions; Robust inference with misspecified models; Bayesian methods; Forecasting; Statistical curvature and differential geometrical methods in statistics.

Financial economics:
Household finance; Credit risk; Macro-finance.

Behavioral economics
Noncognitive ability; Health economics; Genoeconomics; Neuroeconomics.


The Credit Card Debt Puzzle and Non-cognitive Ability (with Ron A. Laschever), Review of Finance, 22(6), 2109-2137, 2018.
Information Theory for Maximum Likelihood Estimation of Diffusion Models, Journal of Econometrics, 191(1), 110-128, 2016.
Expert Information and Nonparametric Bayesian Inference of Rare Events, Bayesian Analysis,
 11(2), 421-445, 2016.
An Asymptotic Analysis of Likelihood-Based Diffusion Model Selection Using High Frequency Data (with Minsoo Jeong and Joon Y. Park)Journal of Econometrics, 178 (3), 539-557, 2014.
Geometry of the Log-Likelihood Ratio Statistic in Misspecified Models (with N. Kiefer), Journal of Statistical Planning and Inference, 141 (6), 2091-2099, 2011. 
Improving Robust Model Selection Tests for Dynamic Models (with N. Kiefer), Econometrics Journal, 13(2), 177-204, 2010.
Development and Validation of Credit Scoring Models (with D. Glennon, E. Larson, and N. Kiefer), Journal of Credit Risk, 4(3), 41-101, 2008.
Robust Nonnested Testing and Demand for Money (with N. Kiefer), Journal of Business & Economic Statistics, 26, 9-17, 2008.
Software Evaluation: EasyReg International (with N. Kiefer), International Journal of Forecasting, 21, 609-616, 2005.


Referee service:

Proposal review for the National Science Foundation (2). 
Review of Finance, Review of International Economics, Economics Bulletin, Journal of Business and Economic Statistics, Journal of Statistical Planning and Inference, Oxford Bulletin of Economics and Statistics, Economic Modelling, Journal of Econometrics (2), Journal of Credit Risk.

Department and university service:

Binghamton University: Graduate placement director (2013-2016), Faculty recruiting committee (2013-2015, 2016-2019), Graduate program committee (2013-2014, 2016-2018), Graduate admissions (co-chair, 2013-2014; director, 2016-2018; committee member, 2018-2019), Department seminar organizer (2014-2016), Department executive committee (2014-2015, 2016-2018).

Purdue University: Chronic disease research interest group committee (Purdue, 2010-2011), Recruiting committee (Purdue, 2010-2012), Department seminar organizer (2011-2012), Instructor for Learning Communities for first-year students (2011).


 2018KIF-KAEA-KAFA Joint Conference (Korean Institute of Finance). 
 2017Kyongbook National University, Sogang University (seminar and two lectures), Ehwa Womans University.
 2016 KAEA workshop (San Francisco), University of Seoul, Korea University, Seoul National University, Ehwa Womans University, KAIST (Korea Advanced Institute of Science and Technology).
 2015 Winter Meeting of the Econometric Society (Boston, MA),  Washington University in St. Louis (Mathematics)
 2014 Cornell University, Queen's University, Info-metrics Conference (Recent Innovations in Info-Metrics, American University), NY Camp Econometrics.
 2013 The Office of the Comptroller of the Currency (Washington D.C.), Purdue University (Department of Statistics), NBER-NSF Seminar on Bayesian Inference in Econometrics and Statistics (Washington University in St. Louis), Midwest Econometrics Group conference (Indiana University), Symposium of Probability and Stochastic Processes (CIMAT, Mexico).
 2012 Purdue University (Department of Statistics), Purdue Health and Human Sciences Extension Conference, NBER-NSF time-series conference (Texas A&M), Infometrics-Institute nonparametric inference conference (UC Riverside)
 2011 Winter Meeting of the American Economic Association (Denver, CO), Purdue University (Department of Economics), University of Missouri (Department of Economics), University of Kansas (Department of Economics).
 2009 Cornell University (Department of Economics), Texas A&M University (Department of Statistics), Texas Camp Econometrics (New Braunfels, TX).
 2008 Texas A&M University (Department of Agricultural Economics).
 2006 North American Winter Meeting of The Econometric Society (Boston, MA).



Binghamton University - Economic Statistics (Ph.D.), Topics in Time Series (Ph.D.), Risk Management and Insurance (Undergraduate), Advanced Financial Economics (Master's).
Purdue University - Risk Management (Undergraduate), Investment (Undergraduate), Global Consumer (Undergraduate).
Texas A&M University - Introduction to Econometrics (Undergraduate), Topics in Time Series (Ph.D.).

Teaching Assistant:

Cornell University - Introduction to Macroeconomics, Graduate Econometrics II, Introduction to Statistics.
Seoul National University - Graduate Economic Statistics, Econometrics.

Other Activities:

"Research in Residence" Program, University of Bremen, Germany (June-July, 2018).


Info-Metrics Institute Research Prize (in Memory of Halbert L. White, Jr.), 2017.
Sage Fellowship (Floyd W. Mundy Fellowship), Cornell University, 2002-2007.
Yang-young Foundation Scholarship, 2002.
Yong-am Foundation Scholarship, 1993-1996.
Magna cum laude, 1997.


Available upon request.