Institute for Financial Studies,
School of Economics, Fudan University,
600 Guoquan Road, Shanghai, China
Tel: 021-65643821-613


Current Research Interests

Behavioral Finance, Financial Risk Management, Cultural Differences

Undergraduate Courses

Recent Publications

  • Yun Shi, Xiangyu Cui, Jing Yao and Duan Li (2015). Dynamic trading with reference point adaptation and loss aversion, Operations Research, 63(4): 789-806. url.
    • Loss aversion leads to a V-shaped pattern in risk taking behavior. Reference point adaptation weakens the loss aversion effect and also shapes it into an asymmetric pattern.
  • Jing Yao and Duan Li (2013). Prospect theory and trading patterns, Journal of Banking and Finance, 37(8): 2793-2805. url, Pdf.
    • There are two souls dwelling in the breast of prospect theory preference. One is the rational source of positive-feedback trading, while its brother is the psychological source of negative-feedback trading.
  • Jing Yao and Duan Li (2013). Bounded rationality as a source of loss aversion and optimism: A study of psychological adaptation under incomplete information, Journal of Economic Dynamics and Control, 37(1): 18-31. url, Slides
    • The value maximization assumption under incomplete information can be a blended harmony of psychological biases and individual rationality.
  • 黄琼, 朱书尚, 姚京 (2011). 投资组合策略的有效性检验:基于中国市场的实证分析. 《管理评论》7: 3-10.
  • 姚京, 李仲飞 (2010). 从管理风险的角度看金融风险度量,《数理统计与管理》4: 736-742.
  • 姚京, 袁子甲, 李仲飞, 李端 (2009). VaR风险度量下的 beta 系数:估计方法和实证研究.《系统工程理论与实践》29 (7): 27-34.






Comments are closed.

Set your Twitter account name in your settings to use the TwitterBar Section.