Chang Liu

Welcome! I am a Lecturer (≈TTAP) at the Central University of Finance and Economics (CUFE), affiliated with the Department of Risk Management and Insurance, the School of Insurance, and the China Institute for Actuarial Science. Prior to joining CUFE, I received my PhD from Universität Mannheim in Germany.

I study information problems in markets, with applications to insurance, labor, financial markets, and digital platforms. My work combines statistical tools and game-theoretic modeling to understand how information frictions and institutional design shape market outcomes.

Email: changliu97@cufe.edu.cn

Curriculum Vitae (updated Jan 2026)

Name Pronunciation

😃 I am hiring part-time RAs to work on exciting projects related to social insurance and medical records, insurance policy and claims, livestreaming commerce, etc. This position is open on a rolling basis and offers above-market pay, coauthorship depending on contribution, and support for attending leading insurance conferences such as ARIA, EGRIE, IME and APRIA. Because insurance is an inherently interdisciplinary field, I warmly welcome students from applied mathematics, statistics, computer science, and related disciplines, especially those with strengths in analytical modeling, statistical analysis, or experimental methods. 💪We will work closely toward publication in prestigious journals not only in actuarial science and insurance, but also in finance and economics.

Top actuarial journals include ASTIN Bulletin, Insurance: Mathematics and Economics (IME), Scandinavian Actuarial Journal (SAJ), and North American Actuarial Journal (NAAJ).

Insurance and risk journals include Journal of Risk and Insurance (JRI), Risk Analysis, Geneva Risk and Insurance Review (GRIR), Geneva Papers on Risk and Insurance—Issues and Practice (GPRI), etc.

Research

Capital-biased Tax Incentives and Labor Market Power: Evidence from China (with Lishuang Huang, Xunchang Zhang). Revise & Resubmit
Auction Design for Reinsurance (single author). forthcoming at Geneva Risk and Insurance Review.
Testing for and Decomposing Asymmetric Information in Motor Insurance: Evidence from Spain (with Jindi Dai, Priscila Espinosa, Josep Lledó). In Progress.
Revisiting Equilibrium in Quote-driven Markets (with Ernst-Ludwig von Thadden). In progress.
Limited Attention, Information Choice, and Market Microstructure (single author).

Teaching

Teaching Assistant at the University of Mannheim

Mathematics for Economists (PhD), for Dr. Ingo Steinke, Fall 2023 [Evaluation], Fall 2024 [Evaluation]
Advanced Microeconomics III (PhD), for Prof. Francisco Poggi, Spring 2023 [Evaluation]
Advanced Microeconomics II (PhD), for Prof. Ernst-Ludwig von Thadden, Spring 2023 [Evaluation]
Business Economics I (Master), for Prof. Henrik Orzen, Fall 2021 [Evaluation]
Microeconomics B (Bachelor), for Prof. Helena Perrone, Fall 2020 [Evaluation]