Publications
The Higher Risk, The Higher Price? A Theoretical and Empirical Analysis of Pricing Strategy Effectiveness in P2P Lending, with Tian Lu, Yingjie Zhang, and Pinliang Luo. International Journal of Electronic Commerce, 2025, 29(1): 155-182.
Agency Model versus Wholesale Model, with Yangguang Huang. Information Economics and Policy, 2024, 68: 101093.
Creating a Merger Option to Strategically Prevent a Merger among Suppliers or Customers, with Lezhen Wu, Zhiyong Yao, and Wen Zhou. Naval Research Logistics, 2024, 71(2): 174-188.
Proportional Fee vs Unit Fee: Competition, Welfare, and Incentive, with Zhiyong Yao, and Wen Zhou. Journal of Industrial Economics, 2022, 70(4): 999-1032.
Strategic Insider Trading: Disguising Order Flows to Escape Trading Competition, with Xin Liu, Hanwen Sun, and Huainan Zhao. Journal of Corporate Finance, 2021, 67, 101891.
When is Upstream Collusion Profitable?, with Zhiyong Yao, Wen Zhou, and Rangrang Bai. RAND Journal of Economics, 2019, 50(2): 326–341.
The Impact of Venture Capital Investment on the Performance of Peer-to-Peer Lending Platforms: Evidence from China, with Tian Lu, Pinliang Luo, and Chenghong Zhang, Asia-Pacific Journal of Financial Studies, 2019, 48: 640–665.
Sniping in Soft-Close Online Auctions: Empirical Evidence from Overstock, with Wen Cao, Qinyang Sha, Zhiyong Yao, and Xiang Shao, Marketing Letters, 2019: 1-13.
SOEs as Intermediation: Leakage Effect under Financial Repression, with Zhiyong Yao, and Wen Cao, Pacific-Basin Finance Journal, 2019, 53: 349-361.
Rating Deflation versus Inflation: On Procyclical Credit Ratings, with Yongmin Chen and Zhiyong Yao, Pacific-Basin Finance Journal, 2017, 41: 46–64.
Working Papers
Cost Information, Insider Trading, and Product Market Equilibrium, with Hanwen Sun. Second round review at Contemporary Accounting Research.
Fintech Market and Regulation: Lessons from China's Peer-to-peer Lending Platforms, with Zhengqing Gui, and Yangguang Huang. Revision requested by Journal of Corporate Finance.
Proportional Fees on Dominant Platforms with Merchants' Outside Options, with Wen Zhou. Revision resubmitted to Games and Economic Behavior.
Strategic Non-Adoption of AI Pricing: The Anticompetitive Effect of Price Monitoring, with Tian Lu, and Wen Zhou.
Upstream Collusion with Downstream Compensation, with Zhiyong Yao, and Bingyong Zheng.
Working in Progress
Supply Chain and Insider Trading, with Hanwen Sun, and Weinan Zheng.
Uniform vs. Personalize Algorithm Design: The Gain and Loss of Prohibition in Private Data Access, with Yibo Fang, and Zhiyong Yao.
The Rise of Platform and The Fall of Traditional Economy.
R&D Investment and Insider Trading, with Hanwen Sun.
When Does Insider Trading Improve Firm Value?, with Hanwen Sun.