Institute for Financial Studies,
School of Economics, Fudan University,
600 Guoquan Road, Shanghai, China
Email: yaojing@fudan.edu.cn
Tel: 021-65643821-613

My CV

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.

 

研究简介

我近期研究的很大一块内容是在微观决策层次上构建分析行为金融模型。为什么我觉得微观行为金融模型很重要?这里是一些个人观点

这里有我写的一些中文简介。

 

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