Tong Wang

• PhD in Economics
• Senior Lecturer at University of Edinburgh

An Initial Coin Offering is the Initial Public Offering of the crypto sector. By issuing crypto tokens in exchange for funds, Initial Coin Offering is a popular way to raise capital for products or services typically associated with cryptocurrencies by issuing crypto tokens in exchange for funds. Initial Coin Offering has gained a lot of attention...

This paper discusses the association between rating solicitation status and rating quality. Our model shows that if firms with a declining trend of performance are less likely to solicit ratings from credit rating agencies, these firms are more conservatively rated, as their self-selection behaviour is seen as a signal of high credit risk. Our empi...

In this paper, we study regional discrimination in a peer-to-peer lending scenario and provide novel empirical evidence for theories of soft information collection and information cost. We find that the regional information matters for borrowers' funding probabilities and that discrimination is profit-oriented or taste-oriented depending on the spe...

This paper explores the sorting patterns in a two-sided matching market where agents facing different risks match to share them. When preference belongs to the class of harmonic absolute risk aversion (HARA), the risk premium is perfectly transferable within each partnership; thus a stable match minimizes the social cost of risk. In the systematic...

This paper studies the comparative statics regarding changes in risk on Nash's solution to bargaining games with stochastic outcome and disagreement points. When absolute risk tolerance is linear with constant slope, the Nash's solution to bargaining with risky outcomes and risky disagreement points can be viewed as division of divisible certainty...

This paper analyzes sorting pattern of risk-sharing partnerships where agents are heterogenous in their income riskiness. When preference belongs to the class of HARA, household production in terms of monetary equivalence is perfectly transferable between spouses. Hence the characterization of stable match which minimizes social risk premium crucia...

In this paper, we establish a simple framework relying on queuing theory to analyze the net neutrality on file sharing service users. We find that net neutrality regulation does not necessarily improve consumer surplus as well as the social welfare; it depends heavily on the extra traffic generated by file sharing service and the distribution cost...