Research Experience

Working Paper

Information Disclosure by Consumers and Competition among Firms (with JongJae Lee)

Abstract: This paper studies the effects of competition on consumer's information disclosure, multiproduct firms' product recommendation strategies, and the vertical and horizontal efficiency of the resulting equilibrium outcomes. To this end, we extend Ichihashi (2020, American Economic Review) to allow for duopoly. Our main finding is that there exists no Bayes-correlated equilibrium in which both firms recommend the same product. In equilibrium, despite information about a consumer's most preferred product, one firm recommends the less preferred product at a lower price. This implies that competition impinges on (horizontal) efficiency rather than improves it. 

Impacts of Property Tax Reform on Housing Price: Evidence from Chongqing

Abstract: This paper studies the impacts of the Property Tax Reform in China on the housing price in Chongqing with the consideration of spillover effects. The spillover effects refer to that the Reform implemented in Chongqing can also affect the prices in other cities. This paper applies the modified synthetic control method which allows for spillover effects from Cao and Dowd (2019) to estimate the effects of the Reform, with the annual average housing price data of 34 major cities from 2002 to 2020. As a result, I find that the Reform reduces Chongqing’s housing price by 464.9 yuan on average, compared to the counterfactual. I also find that the spillover effects exist and that the classical synthetic control method overestimates the effects of the Reform.

Work in Progress

Persuading Present-Biased Agents by Information (with JongJae Lee and Huanyu Yin)

Description: We study how to mitigate the procrastination problem for a present-biased agent. The agent is assumed to be uncertain about her present-bias level due to limited cognitive abilities. We aim to use information design to update her belief about the present-bias level and lead her to act optimally.