Jiacui Li

Assistant Prof of Finance @ Utah Eccles
Studying impact of institutional demand and behavioral influences on prices
Spent most free time learning neuroscience

[Jiacui Li @jiacui]

@jo_chanik More positive surprises, though this may just reflect my status in the profession. I often get lower-ranked authors' work to review and find "gems in the rough", rather than the opposite.

[Jiacui Li @jiacui]

To avoid biases, I've enforced a rule where I never search up the paper before submitting a referee report. As a consequence, a large pleasure/thrill of submitting a referee report is rushing to figure out who wrote the paper :)

[Jiacui Li @jiacui]

It is just a one minute survey! We really appreciate your participation.

[Jiacui Li @jiacui]

Hello #EconTwitter —

We are conducting a one-minute academic survey on the price effects of trading. Participation is anonymous and voluntary.

https://t.co/i54T9cmkIR

We'd appreciate your insights. Thank you — please feel free to share!

[Jiacui Li @jiacui]

@AsafManela Yes I actually wondered about that. And I wonder if you have an answer?

[Jiacui Li @jiacui]

@eliquinox Hi Ed - I am hoping to ask you a question regarding your digital finance article "Order flow analysis of cryptocurrency markets". If that is okay, please follow me on twitter so I can message you, or email me at [email protected]. Thanks!

[Jiacui Li @jiacui]

@achenfinance Sounds like a pre-cursor to Greenwood Shleifer RFS.

[Jiacui Li @jiacui]

@achenfinance If markets are reasonably competitive for short-horizon profits, the strategies that work will be eliminated soon after publication. It would be weirder if these things continue to work out of sample.

[Jiacui Li @jiacui]

@achenfinance Is there a formal justification/mechanism for Brandolini’s law?

[Jiacui Li @jiacui]

@achenfinance @arubesam Hmm, it would actually be helpful if you can share the process. I believe many would be very interested in that.

[Jiacui Li @jiacui]

Why is modern monetary theory so popular among many? People simply found a theory to justify wishful thinking about infinite fiscal stimulus and programs, or is there something else going on? @HannoLustig @JohnHCochrane @ProfJiang

[Jiacui Li @jiacui]

@ben_golub Since the Zoom age started, I always begin my presentations with a multiple choice question for the audience to participate in. Their answers ALWAYS show that the audience's prior is ex-ante different from my claim, so they can't claim "we knew it all along" ex-post. (3/n)

[Jiacui Li @jiacui]

@ben_golub because what the audience is saying is merely "your idea is understandable after you explained it to me". It's like, they can't solve the equation themselves, but after you show them the answer, they are able to plug it into the equation and verify that the answer is correct. 2/n

[Jiacui Li @jiacui]

@ben_golub It might be worth distinguishing between "ex ante obviousness" and "ex post obviousness" of ideas. Many ideas are ex ante non-obvious, but ex post (after you explain your paper) obvious, and that's what audiences/referees are usually referring to. This is obviously unfair, 1/n

[Jiacui Li @jiacui]

@schiller061 Cheering for Italy out of “hatred” towards England?

[Jiacui Li @jiacui]

@jenniferdoleac I imagine the answer is no. Price stickiness isn’t due to literal “menu costs”. It is (primarily) due to customers disliking price variation. In any case, would be great to know the answer. Great research idea.

[Jiacui Li @jiacui]

@AsafManela Good point about salience and human perception of risk.

[Jiacui Li @jiacui]

@RayDalio The problem is we are in an unprecedented age where humans can make ourselves go extinct. Therefore, every person has a moral obligation (in my view) to make sure such a fight does not happen. There is too much at stake.

[Jiacui Li @jiacui]

So the increasing use of Shanghai-Hong Kong stock connect (沪港通) does nothing to reduce the pricing discrepancies between the two markets? Hmm...