Mao, Bolin

My Belief in Economic Research

More evidence, weaker assumption, and no Homo Economicus.

Research Interest

• Applied Econometrics

• 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 

Economics

• • • Disentangling country fixed effects in the structural gravity model for foreign direct investment: A machine learning approach. (with Cen, X. and Jinji, N.)

Evidence-Based Policy Making

• • • Heterogeneous Treatment Effect of Japanese Specially Issued Pension Insurance. (with Inoue, Y.)

    • 新型コロナウィルス蔓延に伴う緊急事態宣言等の初期の政策介入の影響分析. (with Otake, F., Sasaki, S., Inoue, Y. and Shiba, K.)

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.)

Genome-wide Association Study

• • • Nagahama Project. (with Kamatani, Y., Hung, H., Ou, J., Kawaguchi, T., Inoue, Y., Hirota, S. and Yodo, M.)

Sociology

• • • Status Belief Matters: Spouse Relative Income, Employment Form, and Housework Gender Inequality in Japan. (with Zhang, Y. and Wang, T.)

Presentations

• 2025

  • TDB-CAREE, 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: December 5, 2024