Publications

Journal Articles

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  "The Power of Connection: How Social Networks Mitigate Post-Earnings Announcement Drift"

  with Nilanjan Roy and Jiani Wu. Journal of Financial and Quantitative Analysis. Conditionally Accepted

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  "Making Organization's Cost Salient: A Natural Field Experiment"

  with Fuhai Hong, Jubo Yan, and Yuanyuan Huo. Journal of Economic Behavior and Organization. Forthcoming

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  "The Effects of Winning Experience and Gain/Loss Frames on Lying Decisions: A Lab Experiment"

  with Fang Liu. Applied Psychology, 75(1), e70054. doi

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  "Boosting Donation and Welfare: Augmenting Donor-Priority Rule with Information Provision"

  with Min Fang and Mengling Li. European Economic Review, Vol. 181, 105181. doi

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  "Cash vs Contactless Mobile Payment: The Effect of Payment Modes on Donation Behaviors"

  with Jingping Li and Fang Liu. Economic Inquiry, 1–14. doi

• 

  "Does Position Uncertainty Foster Cooperation?"

  with Nilanjan Roy and Erwin Wong. Journal of the Economic Science Association, 1–17. doi

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  "All-Pay Contests with Unordered Cost Asymmetry: An Experimental Study"

  with Siqiang Yang and Zhu Feng. Journal of Economic Behavior and Organization, Vol. 236, 107131.

• 

  "Unveiling the Effects of Hidden Luck and Merits on Redistribution"

  with Juliane Wiese, Nattavudh Powdthavee, and Jonathan Yeo. Journal of Behavioral and Experimental Economics, Vol. 117, 102392. doi

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  "Financial Forecasting in the Lab and the Field: Qualified Professionals vs. Smart Students"

  with Te Bao, Brice Corgnet, Nobuyuki Hanaki, Katsuhiko Okada, and Jiahua Zhu. Journal of Behavioral and Experimental Finance, Vol. 46, 101051. doi

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  "How Dark Trading Harms Financial Markets?"

  with Edward Halim, Nilanjan Roy, and Yan Wang. Economic Journal, Volume 135, Issue 669, pp. 1711–1733. doi

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  "Incentivizing Organ Donation under Different Priority Rules: The Role of Information"

  with Mengling Li. Management Science, Vol. 71, No. 2, pp. 1418–1437.

• 

  "Contests with Multiplicative Sabotage Efforts"

  with Haoming Liu, Jingfeng Lu, and Zhe Wang. Theory and Decision, Vol. 97, pp. 499–526. doi

• 

  "Punching above One's Weight — On Overcommitment in Election Campaigns"

  with Marco Haan and Sander Onderstal. De Economist, Vol. 172, pp. 121–139.

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  "Luck or Rights? An Experiment on Preferences for Redistribution Following Inheritance of Opportunity"

  with Warn N. Lekfuangfu and Nattavudh Powdthavee. Journal of Behavioral and Experimental Economics, Vol. 106, 102078.

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  "Prioritized Organ Allocation Rules under Compatibility Constraints"

  with Mengling Li and Menghan Xu. Games and Economic Behavior, Vol. 141, pp. 403–427.

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  "Large Losses from Little Lies: Strategic Gender Misrepresentation and Cooperation"

  with Nattavudh Powdthavee, Michalis Drouvelis, and Jennifer Gerson. PLoS ONE, 18(3), e0282335.

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  "Predicting the Unpredictable: New Experimental Evidence on Forecasting Random Walks"

  with Te Bao, Brice Corgnet, Nobuyuki Hanaki, and Jiahua Zhu. Journal of Economic Dynamics and Control, Vol. 146, 104571.

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  "Cooperation and Punishment Mechanisms in Uncertain and Dynamic Social Networks"

  with Edoardo Gallo, Tat-How Teh, and Nilanjan Roy. Games and Economic Behavior, Vol. 134, pp. 75–103. doi

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  "Sharing Idiosyncratic Risks Even Though Prices are Wrong"

  with Edward Halim and Nilanjan Roy. Journal of Economic Theory, Vol. 200, 105400. doi

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  "Remedying Adverse Selection in Donor-Priority Rule Using Freeze Period: Theory and Experiment"

  with Mengling Li and Menghan Xu. Journal of Economic Behavior and Organization, Vol. 194, pp. 384–407. doi

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  "Gender Differences in the Pursuit of Prestige in Charitable Giving: An Experiment"

  with Jingping Li. Journal of Institutional and Theoretical Economics, Vol. 178(1), pp. 80–103. doi

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  "Unpacking the Negative Welfare Effect of Social Media: Evidence from a Large Scale Nationally Representative Time-Use Survey in China"

  with Te Bao and Bin Liang. China Economic Review, Vol. 69, 101650. doi

• 

  "Multidimensional Group Identity: An Experimental Study"

  with Fuhai Hong and Ruike Zhang. Theory and Decision. doi

• 

  "When Face Masks Signal Social Identity: Explaining the Deep Face-Mask Divide during the COVID-19 Pandemic"

  with Nattavudh Powdthavee, Jonathan X-W Yeo, Erwin C-L Wong, and Qiyu Chan. PLoS ONE, 16(6): e0253195.

• 

  "Managerial Incentives and Stock Price Dynamics: An Experimental Approach"

  with Te Bao, Edward Halim, and Charles Noussair. Experimental Economics, 24, pp. 617–648. doi

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  "Best Practices in Replication: A Case Study of Common Information in Coordination Games"

  with Roy Chen and Yan Chen. Experimental Economics, Vol. 24, pp. 1–29. doi

• 

  "Highly Flexible Neighborhood Promotes Efficient Coordination: Experimental Evidence"

  with Tat-How Teh. European Economic Review, Vol. 127, Article 103521. doi

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  "Diminishing Personal Information Privacy Weakens Image Concerns"

  with Jianlin Zhang. PLoS ONE, 15(4): e0232037.

• 

  "Pronoun Drop and Prosocial Behavior: Experimental Evidence from Japan"

  with Tai-sen He, Saori Tanaka, and Ken Yamada. Journal of the Economic Science Association. doi

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  "Asset Markets with Insider Trading Disclosure Rule and Reselling Constraint: An Experimental Analysis"

  with Edward Halim. Journal of Economic Dynamics and Control, Vol. 110, Article 103745.

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  "Firing the Right Bullets: Exploring the Effectiveness of the Hired Gun Mechanism in the Provision of Public Goods"

  with Jia Liu and Ruike Zhang. Journal of Economic Behavior and Organization, Vol. 170, pp. 222–243.

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  "The Effect of Language on Economic Behavior: Examining the Causal Link between Future Tense and Time Preference in the Lab"

  with Josie I. Chen and Tai-sen He. European Economic Review, Vol. 120, Article 103307.

• 

  "Path of Intertemporal Cooperation and Limits to Turn-Taking Behavior"

  with Nilanjan Roy. Journal of Economic Behavior and Organization, Vol. 165, pp. 21–36.

• 

  "Strong Links Promote the Emergence of Cooperative Elites"

  with Edoardo Gallo, Tat-How Teh, and Nilanjan Roy. Scientific Reports, 9, 10857.

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  "Liquidation Policy and Disclosure of Credit History in Financial Contracting: An Experiment"

  with Jia Liu. Journal of Economic Behavior and Organization, Vol. 158(C), pp. 526–542.

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  "Costly Information Acquisition, Social Networks, and Asset Prices: Experimental Evidence"

  with Edward Halim and Nilanjan Roy. Journal of Finance, Vol. 74, Issue 4, pp. 1975–2010. doi

  🏆 2020 Vernon L. Smith Award for Excellence in Experimental Finance
• 

  "Enhancing Effort Supply with Prize-Augmenting Entry Fees: Theory and Experiments"

  with Robert Hammond, Bin Liu, and Jingfeng Lu. International Economic Review, Vol. 60, Issue 3, pp. 1063–1096.

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  "Impact of Lower Rated Journals on Economists' Judgments of Publication Lists: Evidence from a Survey Experiment"

  with Nattavudh Powdthavee and Jack Knetsch. Journal of Economic Psychology, Vol. 66, pp. 33–44.

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  "Directed Trust and Reciprocity in a Real Life Social Network: An Experimental Investigation"

  with Jonathan Yeo X-W. Journal of Economic Behavior and Organization, Vol. 151, pp. 234–253.

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  "The Limit to Behavioral Inertia and the Power of Default in Voluntary Contribution Games"

  with Jia Liu. Social Choice and Welfare, Vol. 48, Issue 4, pp. 815–835.

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  "Information Transparency and Equilibrium Selection in Coordination Games: An Experimental Study"

  with Jia Liu. Theory and Decision, Vol. 82, Issue 3, pp. 415–433.

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  "Category Reporting Plan in Charitable Giving: An Experimental Analysis"

  with Jingping Li. Economic Inquiry, Vol. 55, No. 1, pp. 397–408.

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  "Putting a Price Tag on Others' Perception of Us"

  with Jianlin Zhang. Experimental Economics, Vol. 19, No. 2, pp. 480–499.

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  "Would You Pay for Transparently Useless Advice? A Test of Boundaries of Beliefs in the Folly of Prediction"

  with Nattavudh Powdthavee. Review of Economics and Statistics, Vol. 97, No. 2, pp. 257–272.

  2016 Exeter Prize Finalist — Experimental Economics, Decision Theory & Behavioral Economics

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  "An Egalitarian Regime Breeds Generosity: The Effect of Endowment Allocation Procedures on Social Preferences"

  with Jianlin Zhang. Economic Inquiry, Vol. 52, No. 3, pp. 1027–1039.

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  "Bank Ownership and Efficiency in the Aftermath of Financial Crises: Evidence from Indonesia"

  with Rasyad A. Parinduri. Review of Development Economics, Vol. 18, No. 1, pp. 96–106.

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  "The Impact of Social Comparison of Ability on Other-Regarding Behavior"

  with Jianlin Zhang. Journal of Behavioral and Experimental Economics, Vol. 47, pp. 37–46.

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  "Labour Union Bargaining and Firm Organizational Structure"

  with Aekapol Chongvilaivan and Jung Hur. Labour Economics, Vol. 24, No. 5, pp. 116–124.

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  "Gain and Loss Domains and the Choice of Welfare Measure of Positive and Negative Changes"

  with Jack L. Knetsch and Jichuan Zhong. Journal of Benefit Cost Analysis, Vol. 3, No. 4 (Lead Article).

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  "How Does Voice Matter? Evidence from the Ultimatum Game"

  with Ong Qiyan and Steve Sheffrin. Experimental Economics, Vol. 15, No. 4, pp. 604–621.

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  "Organizational Structure and Product Market Competition"

  with Jung Hur. Journal of Economics and Management Strategy, Vol. 21, No. 3, pp. 707–743.

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  "The Impact of the Strategic Sale of Restructured Banks: Evidence from Indonesia"

  with Rasyad A. Parinduri. World Development, Vol. 40, No. 3, pp. 446–457.

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  "Cross-Border M&A Inflows and Quality of Country Governance: Developing vs. Developed Countries"

  with Jung Hur and Rasyad A. Parinduri. Pacific Economic Review, Vol. 16, No. 5, pp. 638–655.

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  "Signaling Strength? An Analysis of Economic Decision Making in the Weakest Link"

  with Marco Haan and Bart Los. Theory and Decision, Vol. 71, No. 4, pp. 519–537.

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  "Do Banks Respond to Capital Requirements? Evidence from Indonesia"

  with Rasyad A. Parinduri. Applied Financial Economics, Vol. 21, Issue 9, pp. 651–663.

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  "Ownership of Property Rights and the Allocation of Talents"

  with Liu Haoming. Applied Economics, Vol. 41(26), pp. 3425–3436 (2009).

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  "Outsourcing Types, Relative Wages and the Demand for Skilled Workers: New Evidence from US Manufacturing"

  with Aekapol Chongvilaivan and Jung Hur. Economic Inquiry, Vol. 47, No. 1, pp. 18–33 (2009).

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  "Tunneling and Propping: A Justification for Pyramidal Ownership"

  with Linda A. Toolsema. Journal of Banking and Finance, Vol. 32, No. 10, pp. 2178–2187 (2008).

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  "Finance and Trade: A Cross-Country Empirical Analysis on the Impact of Financial Development and Asset Tangibility on International Trade"

  with Jung Hur and Manoj Raj. World Development, Vol. 34, No. 10, pp. 1728–1741 (2006).

• 

  "On the Strategic Use of Corporate Venture Financing for Securing Demand"

  with Armin Schwienbacher. Journal of Banking and Finance, Vol. 30, No. 10, pp. 2809–2833 (2006).

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  "Tariff Policy and Exhaustion of Intellectual Property Rights in the Presence of Parallel Imports"

  with Jung Hur. Oxford Economic Papers, Vol. 58, No. 3, pp. 549–568 (2006).

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  "The Effects of Takeover Threats on Shareholder and Firm Value"

  with Marco Haan. Journal of Economic Behavior and Organization, Vol. 59, No. 1, pp. 45–68 (2006).

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  "Information as a Regulatory Instrument to Price Biodiversity Benefits: Certification and Ecolabeling Policy Practices"

  with Paulo A. Nunes. Biodiversity and Conservation Journal, 14(8), pp. 2009–2027 (2005).

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  "A Market Mechanism for Scientific Communication: Reply"

  with Hakan Yetkiner. Kyklos, 56(3), pp. 401–403 (2003).

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  "A Market Mechanism for Scientific Communication: A Proposal"

  with Hakan Yetkiner. Kyklos, 55(4), pp. 563–569 (2002).

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  "Exchange Rate Pass-Through in Vertically Related Markets"

  with Yunus Aksoy. Review of International Economics, Vol. 8, No. 2, pp. 235–251 (2000).

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  "Inter- and Intrabrand Competition and the Manufacturer-Retailer Relationship"

  with Jerzy Mycielski and Filip Wuyts. Journal of Institutional and Theoretical Economics, Vol. 156, No. 4, pp. 599–624 (2000).

• 

  "Corporate Takeovers, Bargaining, and Managers' Incentives to Invest"

  with Marcel Canoy and Patrick Van Cayseele. Managerial and Decision Economics, Vol. 21, pp. 1–18 (2000).

Other Articles (Op-Eds)

• "Indonesia's Banking Industry: More Power to the Market"

  with Rasyad A. Parinduri. The Straits Times, September 26, 2007.

• "Riding Along a Bumpy Road: Indonesian Economy in an Emerging Democratic Era"

  with Aris Ananta. ASEAN Economic Bulletin, Vol. 23, No. 1, pp. 1–11 (2006).

• "The Economics of the Weakest Link TV Game Show" [Dutch: "De Economie van de Zwakste Schakel"]

  with Marco Haan and Bart Los. Economische and Statistische Berichten (ESB), April 30, pp. 207–209 (2004).

Book Chapters

• "Experimental Market Design for Altruistic Supply"

  with Mengling Li. In S-H. Chuah, R. Hoffmann, and A. Neelim (Eds.), Edgar Encyclopedia of Behavioural and Experimental Economics. Edward Elgar (2024).

• "Beyond the Absence of Gains from Trade: Revisiting Trade Motives in Experimental Asset Markets"

  with Edward Halim. In S-H. Chuah, R. Hoffmann, and A. Neelim (Eds.), Edgar Encyclopedia of Behavioural and Experimental Economics. Edward Elgar (2024).

• "Algorithmic Trading in Experimental Markets with Human Traders: A Literature Survey"

  with Te Bao, Elizavetta Nekrasova, and Tibor Neugebauer. In Handbook of Experimental Finance, Füllbrunn & Haruvy (Eds.). Edward Elgar (2022).

• "Impact of Lower-Rated Journals on Economists' Judgements of Publication Lists"

  with Nick Powdthavee and Jack Knetsch. In Galiani & Panizza (Eds.), Publishing and Measuring Success in Economics. CEPR (2020).

• "Economic Crisis and Fiscal Policy Management"

  with Silvia M. Arlini. In Ananta, Soekarni & Arifin (Eds.), The Indonesian Economy: Entering a New Era. ISEAS (2011).

• "Information as a Regulatory Instrument to Price Biodiversity Benefits"

  with Paulo A. Nunes. In Teisl (Ed.), Labeling Strategies in Environmental Policy. Ashgate (2007).

• "The Use of Certification and Ecolabelling as a Market Based Policy Instrument for Biodiversity Management"

  with Paulo A. Nunes. In Krarup & Russel (Eds.), Environment, Information and Consumer Behavior. Edward Elgar (2005).