Publications
Bao, T., Duffy, J., & Zhu, J. (2025). Information ambiguity, market institutions, and asset prices: Experimental evidence. Management Science, 71(4), 3232-3252.
Bao, T., Corgnet, B., Hanaki, N., Okada, K., Riyanto, Y. E., & Zhu, J. (2025). Financial forecasting in the lab and the field: Qualified professionals vs. smart students. Journal of Behavioral and Experimental Finance, 101051.
Dai, Y., Bao, T., &Zhu, Financial Reporting Regulation in the Laboratory: A Case on Earnings Management , Management Science, published.
Bao, T., Corgnet, B., Hanaki, N., Riyanto, Y. E., & Zhu, J. (2023). Predicting the unpredictable: New experimental evidence on forecasting random walks. Journal of Economic Dynamics and Control, 104571.
Zhu, J., Bao, T., & Chia, W. M. (2021). Evolutionary selection of forecasting and quantity decision rules in experimental asset markets. Journal of Economic Behavior & Organization, 182, 363-404.
Working Papers
“Knowing Less, Gaining More: Buyer-Seller Dynamics and Algorithmic Decision-Making in Bilateral Trade” , with Yohanes Eko Riyanto
“Information about Pandemic and Social Norms: A Field Experiment ”, with Yupeng Li
Working Projects
“Asymmetric Information and Arbitrage Behavior”, with Te Bao, John Duffy
"Beliefs and Prediction of Fat Tails: Theory and Experiment" With Henry Chen and Yikai Wang
Seminars and Conference Presentations
2024, Shandong University (Invited talk, China), Internal Workshop for Start-up projects at Department of Economics, University of Essex
2023, The University of Electronic Science and Technology of China (Invited talk)
2022, The CES 2022 Annual Conference (Online)
2021, The 26th CEF Conference (Tokyo, Online), The CES 2021 Annual Conference (Online), The 8th Trilateral Workshop in Economics (NTU, Singapore)
2020, The ESA PhD Job Market Candidate Workshop (Online)
2019, Experimental Finance, Asia Pacific Regional Conference (Singapore), Singapore Economic Review Conference (Singapore)
2018, The 24th CEF Conference (Milan), the 5th ISCEF Conference (Paris)
2017, The 13th Edition of Artificial Economics Conference (Tianjin)
Grants and Selected Awards
2025, the External Engagement Incubation fund, King's Business School, KCL (UK)
2023, Young Scientists Fund of the National Natural Science Foundation of China (China)
2022, Artificial Intelligence and advertising: A Behavioural Marketing Perspective, Joint NTU-WeBank Research Centre on Fintech Grant, Nanyang Technological University (Singapore), National College Students' Innovation Grant, Tianjin University (China)
2016-2020, Research Scholarship, Nanyang Technological University, Singapore
Bao, T., Duffy, J., & Zhu, J. (2025). Information ambiguity, market institutions, and asset prices: Experimental evidence. Management Science, 71(4), 3232-3252.
Bao, T., Corgnet, B., Hanaki, N., Okada, K., Riyanto, Y. E., & Zhu, J. (2025). Financial forecasting in the lab and the field: Qualified professionals vs. smart students. Journal of Behavioral and Experimental Finance, 101051.
Dai, Y., Bao, T., &Zhu, Financial Reporting Regulation in the Laboratory: A Case on Earnings Management , Management Science, published.
Bao, T., Corgnet, B., Hanaki, N., Riyanto, Y. E., & Zhu, J. (2023). Predicting the unpredictable: New experimental evidence on forecasting random walks. Journal of Economic Dynamics and Control, 104571.
Zhu, J., Bao, T., & Chia, W. M. (2021). Evolutionary selection of forecasting and quantity decision rules in experimental asset markets. Journal of Economic Behavior & Organization, 182, 363-404.
Working Papers
“Knowing Less, Gaining More: Buyer-Seller Dynamics and Algorithmic Decision-Making in Bilateral Trade” , with Yohanes Eko Riyanto
“Information about Pandemic and Social Norms: A Field Experiment ”, with Yupeng Li
Working Projects
“Asymmetric Information and Arbitrage Behavior”, with Te Bao, John Duffy
"Beliefs and Prediction of Fat Tails: Theory and Experiment" With Henry Chen and Yikai Wang
Seminars and Conference Presentations
2024, Shandong University (Invited talk, China), Internal Workshop for Start-up projects at Department of Economics, University of Essex
2023, The University of Electronic Science and Technology of China (Invited talk)
2022, The CES 2022 Annual Conference (Online)
2021, The 26th CEF Conference (Tokyo, Online), The CES 2021 Annual Conference (Online), The 8th Trilateral Workshop in Economics (NTU, Singapore)
2020, The ESA PhD Job Market Candidate Workshop (Online)
2019, Experimental Finance, Asia Pacific Regional Conference (Singapore), Singapore Economic Review Conference (Singapore)
2018, The 24th CEF Conference (Milan), the 5th ISCEF Conference (Paris)
2017, The 13th Edition of Artificial Economics Conference (Tianjin)
Grants and Selected Awards
2025, the External Engagement Incubation fund, King's Business School, KCL (UK)
2023, Young Scientists Fund of the National Natural Science Foundation of China (China)
2022, Artificial Intelligence and advertising: A Behavioural Marketing Perspective, Joint NTU-WeBank Research Centre on Fintech Grant, Nanyang Technological University (Singapore), National College Students' Innovation Grant, Tianjin University (China)
2016-2020, Research Scholarship, Nanyang Technological University, Singapore
