Human Performance at Solving 0-1 Knapsack Problems: Results from a Large-scale Field Experiment. with Sumit Agarwal, Wenlan Qian, and Joel Goh, 2nd round revise & resubmit
Based on a large-scale randomized controlled field experiment on a mobile gaming platform's global playerbase, we discover that human players perform better on problems rated as more difficult by two traditional measures of knapsack difficulty, whereas perform worse on problem instances with larger optimality gaps from a suite of heuristic solution algorithms.
Liquidity Constraint Threat and Household Indebtedness. with Sumit Agarwal and Wenlan Qian (SSRN)
Using individual-level credit card data from a Singapore financial institution, we find the implementation of a non-binding penalty, entailing the suspension of all existing unsecured credit for heavily indebted individuals, leads to a 9.9% greater reduction in monthly credit card debt among credit card revolvers compared to non-revolvers following the policy announcement .
AsiaFA; CFRI&CIRF; Peking University; Renmin University; Zhejiang University; Shanghai University of Finance and Economics; Southwestern University of Finance and Economics
CFRI&CIRF-Global Association of Risk Professionals Research Excellence Award (Financial Risk Management)
Terrorist Attacks and Strategic Household Consumption. with Pulak Ghosh and Weiqiang Tan (SSRN)
Linking individual-level financial activities data to local terrorist attack events, we document a shift of consumption from debit accounts to credit cards: the attack-hit consumers increase the weekly share of credit card spending by 28 basis points compared to the non-attack-hit consumers during the five weeks following the attacks.
AsiaFA; Sun Yat-sen University; Macau University
South China Morning Post