Research

Innovation and Pharmaceutical R&D

Working Papers

Support or Suppress? Effect of Inter-firm Alliances on Innovation (with Ruofei Guo)

Abstract: Collaboration can accelerate a patent's commercialization, or quietly bury a future rival. We model and estimate incumbents’ collaboration decisions, separating development benefits from suppressive intent, and build a support-intent index that predicts whether a deal will launch or kill an innovation. Counterfactuals highlight a trade-off: limiting suppressive deals raises success probabilities on average but can reduce investment incentives, potentially deterring high-value breakthroughs.

Work in progress

Licensing and Knowledge Spillovers in Drug Development (with Shengmao Cao, Anran Li, and Jingyuan Wang)
Price Regulation, Generic Competition, and Drug Supply Shortage (with Shengmao Cao)

Insurance Markets and Healthcare Contracting

Working Papers

Mergers with Intermediation: The Price Effect of Distant Hospital Mergers (with David Dranove and Benjamin Vatter)

Abstract: Cross-market hospital mergers often raise prices at acquired hospitals, but not for the usual local market-power reasons. Patient overlap with multi-region employers explains some cases, yet many price increases occur without overlap. We find that employer access requirements and contracting frictions may drive these effects, with important implications for antitrust enforcement.

Work in progress

Reinsuring the Insurers of Last Resort (with David Dranove, Craig Garthwaite, Chris Ody, and Molly Schnell)
Effect of Long-term Care Insurance on Care Utilization and Substitution

Pre-PHD Research
*Note: This work was conducted during my undergraduate and master’s programs at Yonsei University.

- Political Orientation and Policy Compliance: Evidence from COVID-19 Mobility Patterns in Korea (with Hee-Seung Yang)
  The B.E. Journal of Economic Analysis & Policy, 2025
- Home Alone: Local Economic Impacts of Single-person households (with Hee-Seung Yang)
- Living in Awareness: Mobility Responses to Sex Offender Release and Reentry (with Youngsuk Bang, Jiseob Kim, and Julie Kim)