My research lies in the areas of game theory, general equilibrium, industrial economics, information economics, and economics of incentives.
My current research work concerns bargaining theory, matching theory, mechanism design, cross-holdings and competitive implications, quality signaling, endogenous altruism.
I teach undergraduate courses on intermediate microeconomic theory, information economics, graduate courses on markets, incentives, and game theory.
I serve on editorial board for Economic Theory, Pacific Economic Review, and Frontiers of Economics in China.
The Inner Core and the Strictly Inhibitive Set, Journal of Economic Theory Vol 59 (1993): 96-106.
A Conjecture of Shapley and Shubik on Competitive Outcomes in the Cores of NTU Market Games, International Journal of Game Theory Vol 22 (1993): 335-344.
The Inner Core of an N-Person Game, Games and Economic Behavior Vol 6 (1994): 431-444.
Endogenous Formation of Cooperation Structures, Journal of Economic Theory Vol 69 (1996): 218-226.
Bertrand Versus Cournot Revisited (with Charles Stuart), Economic Theory Vol 10 (1997): 497-507.
Economic Natural Selection in Cournot and Bertrand Settings (with Burkhard Hehenkcamp and Charles Stuart), Journal of Evolutionary Economics Vol 9 (1999): 211-214.
On Market Games When Agents Cannot Be Two Places at Once (with Rod Garratt), Games and Economic Behavior Vol 31 (2000): 165-173.
Equilibrium Prices When the Sunspot Variable Is Continuous (with Rod Garratt, Todd Keister, and Karl Shell), Journal of Economic Theory Vol 107 (2002): 11-38.
The Walras Core of an Economy and Its Limit Theorem (with Lloyd Shapley and Ken-Ichi Shimomura), Journal of Mathematical Economics Vol 42 No 2 (2006): 180-197.
Endogenous Transfers in the Prisoner's Dilemma Game: An Experimental Test Of Cooperation And Coordination (with Gary Charnes and Guillaume R. Frechette), Games and Economic Behavior Vol 60 (2007): 287-306.
Inducing Cooperation by Self-Stipulated Penalties, Annals of Economics and Finance Vol 9 (2008): 385-395.
Make a Guess: A Robust Mechanism for King Solomon's Dilemma (with Chun-Lei Yang), Economic Theory Vol 39 (2009): 259-268.
Selecting a Unique Competitive Equilibrium with Default Penalties (with Martin Shubik), Journal of Economics Vol 106 (2012): 119-132.
Signaling Product Quality by Price (with Shane Parendo), Frontier of Economics in China Vol 7 (2012): 363-372.
Finite-Order Type Spaces and Applications (with Chun-Lei Yang), Journal of Economic Theory Vol 148 (2013): 689-719.
Information Acquisition and Welfare Effect in a Model of Competitive Financial Markets (with Xiaojuan Hu), Economic Theory Vol 54 (2013): 199-210.
Shapley, Lloyd S. (with Manuel Baucells and Raul Lejano), The New Palgrave Dictionary of Economics, Online Edition, 2013, edited by Steven N. Durlauf and Lawrence E. Blume
Trade Through Endogenous Intermediaries (with T. Kilenthong), Journal of Mathematical Economics Vol 50 (2014): 262-268.
Nash Bargaining for Log-Convex Problems (with Shuzhong Shi and Guofu Tan), Economic Theory Vol 58 (2015): 413-440.
A Note on Uncertainty and Perception Concerning Measurable Utility (with Martin Shubik), Economics Letters Vol 130 (2015): 83-84.