Mao, Bolin
Assistant Professor
Graduate School of Economics, Hitotsubashi University
Email: b.mao.at.r.hit-u.ac.jp (please replace '.at.' with '@')
My Belief in Economic Research
A theory can be provisionally accepted only after receiving one of the following confirmations:
Controlled experiments with replicable results (strong confirmation).
Illustrating predictive power (semi-strong confirmation).
Replicated observational evidence (weak confirmation).
Research Interest
Applied (Econometrics, Statistics, and Machine Learning)
Observational study
Prediction model for practical application
Behavioral Finance
Education
Ph.D. in Economics, Graduate School of Economics, Kyoto University (2023)
M.A. in Economics, Graduate School of Economics, Kyoto University (2018)
B.S. in Microelectronics, School of Information Science and Technology, Fudan University (2015)
Employment
2024.8 - present Assistant Professor, Graduate School of Economics, Hitotsubashi University
2023.4 - 2024.7 Assistant Professor, Institute of Economic Research, Kyoto University
2021.10 - 2023.3 Research Fellow, Institute of Economic Research, Kyoto University
Publication
Tse, T.T.K., Hanaki, N., and Mao, B. (2024). Beware the performance of an algorithm before relying on it: Evidence from a stock price forecasting experiment. Journal of Economic Psychology, Volume 102, 102727.
Working Papers
Hanaki, N., Mao, B., Tse, T.T.K., and Zhou, W. (2024). Valuing Algorithms Over Experts: Evidence from a Stock Price Forecasting Experiment. [PDF]
Tomizawa, Y. and Mao, B. (2024). Analyzing the Impact of Mobility Restrictions and Vaccination Rates on COVID-19’s Effective Reproduction Number Using Markov Decision Process Models.
Mao, B., Nishiyama, Y., Tomizawa, Y., Suzuno, T., and Komura, N. (2024). Effect of Japanese COVID-19 Policy: Public Mobility, Infection Rate, and Individual Consumption.
Mao, B., Chu, C., Nakashima, Y., and Nagahara, H. (2022). Efficient Market Hypothesis Test with Stock Tweets and Natural Language Processing Models. KIER DP 1082. [PDF]
Mao, B. (2022) Is Stock Portfolio’s Dense Subset Better ?
Ongoing Projects
Policy on Health and Welfare
Heterogeneous Treatment Effect of Japanese Specially Issued Pension Insurance. (with Inoue, Y.)
Credit Risk
A Credit Rating System for Japanese Private Company. (with Kevkhishvili, R.)
Behavioral Finance
Mixture of Reward Structure Makes Mitigation on Ruin Risk Taking: An Experiment. (with Tse, T.T.K. and Hanaki, N.)
Gender Study
Status Belief Matters: Spouse Relative Income, Employment Form, and Housework Gender Inequality in Japan. (with Zhang, Y. and Wang, T.)
Presentations
2025
TDB-CAREE Symposium, Hitotsubashi University.
2024
Experimental Economics Seminar, ISER, Osaka University
TDB-CAREE, Hitotsubashi University.
COVID-19 Data Analysis Symposium, Institute of Statistical Mathematics.
2023
Experimental Economics Seminar, ISER, Osaka University.
CAPS, KIER, Kyoto University.
Workshop on Recent Developments in Econometric Theory and Its Applications 2022, KIER, Kyoto University.
2021
Econometrics Seminar, KIER, Kyoto University.
2020
BBL Seminar, GSE, Kyoto University.
2018
BBL Seminar, GSE, Kyoto University.
Last updated: February 12, 2025