Wenhui Li

Ph.D. in Economics, Goethe University Frankfurt


Welcome to my site!

I am currently a PhD candidate in Economics at the Graduate school of Economics, Finance and Management (GSEFM), Goethe University Frankfurt. I am going on the job market this year (2021/22).

In 2017-2020, I have been working as a research assistant in the Leibniz Institute for Financial Research SAFE. I design and implement laboratory experiments to analyze individuals' decision-making under ambiguity. My current researches study how decision makers update beliefs, price ambiguous assets, and their market outcomes.

Research fields: Behavioral Economics, Experimental economics, Applied Econometrics.

Teaching fields: Econometrics (undergraduate and graduate level), Microeconomics (undergraduate and graduate level), Macroeconomics (undergraduate level)

You can find my CV here

Email: hhreusli@gmail.com

Selected working papers

[1] As if belief: an attitude-induced belief transformation under ambiguity.

(Job market paper)

Keywords: ambiguity, ambiguity attitude, belief, as if belief, portfolio choice, mean-variance preference.

JEL code: D81, D83, D91.


[2] Belief formation and belief updating under ambiguity: evidence from experiments. (with Christian Wilde)

Keywords: ambiguity, learning strategy, belief updates, Bayesian updates, pessimism, laboratory experiments.

JEL code: D81, D83.

Presentations:

  • Econometric Society Winter Meeting (Nottingham), December 2020.


[3] Separating the effects of beliefs and attitudes on pricing under ambiguity. (with Christian Wilde)

Keywords: ambiguity, belief estimation, belief effect, ambiguity premium, laboratory experiments.

JEL code: D81, D83.

Presentations:

  • Econometric Society World Congress (Milan), August 2020 (video here);

  • Econometric Society European Meeting (Copenhagen), Aug 2021.


[4] The effect of ambiguity on price formation and trading behavior in financial markets (with Peter Ockenfels and Christian Wilde)

Keywords: ambiguity, financial market, market price, volatility, trading activity, bid-ask spread, market-based measure of ambiguity, laboratory experiment

JEL code: D81, G10.

Presentations:

  • Annual meeting of the German Finance Association (Innsbruck), Oct 2021 (poster session).

  • Econometric Society Winter Meeting (Barcelona), December 2021 (forthcoming).

Teaching experience

[1] Lecturer of Econometrics, pre-semester course for PhD freshmen, Goethe University Frankfurt (Oct 2018).

[2] Tutor of economics modules (Micro-, Macroeconomics) for undergraduate students, National University of Singapore (2009-2011).