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KJ (Kyoung Jin) Choi

Haskayne School of Business, University of Calgary

2500 University Drive NW, Calgary, Alberta, Canada T2N 1N4

kjchoi at ucalgary.ca  (Tel) 403-220-2694

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Research: My research examines how financial frictions, preferences, and emerging financial technologies shape household decisions, asset prices, and financial intermediation. My current work focuses on digital and decentralized finance, consumption-based asset pricing, and dynamic financial decision-making. 

• Selected Working Papers:

  • Consumption Inaction-Induced Risk Concentration in Asset Pricing (with J. Jeon, and H. K. Koo)

  • (In-)Visible Risks of Blockchain-Based Financing for Capital Allocation Efficiency (with D. Chang and K. Rhee)

  • Liquid-Illiquid Conversion vis Singular Control: Staking and Partial Commitment (with J. Jeon, M. Kwak, and B.H. Lim)

  • Bitcoin Microstructure and the Kimchi Premium (with  A. Lehar and R. Stauffer)  

• Selected Publications:

  • Endogenous Credit, Business Cycle, and Portfolio Selection (with H. K. Koo, B.H. Lim, and J. Yoo)  Operations Research  72: 871-884 (2024)

  • Intertemporal Preference with Loss Aversion: Consumption and Risk Attitude (wiith J. Jeon and H. K. Koo)  Journal of Economic Theory 200: 105380 (2022),  

  • Optimal Consumption and Investment under Time-Varying Liquidity Constraints (with S. Ahn and B.H. Lim)  Journal of Financial and Quantitative Analysis 54: 1643-1681 (2019).

  • The Impact of Firm Size on Dynamic Incentives and Investment (with C. Chi)  Rand Journal of Economics 48: 147-177 (2017)

Positions

• Haskayne School of Business, University of Calgary

  • Future Fund Fellow, April 2024–current

  • Area Chair,  July 2023 – June 2026

  • Associate Professor of Finance, July 2017–current

  • Assistant Professor of Finance, July 2011–June 2017

• Korea Development Institute (KDI): Visiting Associate Fellow, August 2017-December 2017

• Korea Institute of Advanced Studies (KIAS): Research Fellow, March 2004–June 2006

Education

• Washington University in St. Louis, Ph.D. in Economics, 2008–2011

• University of Wisconsin-Madison, Ph.D. in Economics, 2006–2008 (two years in the program with Ph.D. exams passed, then transferred to Wash U.)

• KAIST (Korea Advanced Institute of Science and Technology), Ph.D. in Mathematics, 2000–2004

• POSTECH (Pohang University of Science and Technology), B.S. in Mathematics, 1994–1998