Xuhu WAN Assistant Professor Email: imwan@ust.hk PhD 2005 University of Southern California, Financial Math M.Sc. 2003 University of Southern California, Statistics M.Sc. 2000 Shanghai Institute of Materia Medica,CAS,                   Pharmacology B.Sc. 1997  Nanjing University, Biology Personal Home Page (http://ihome.ust.hk/~imwan)

• Assistant Professor of ISOM, Hong Kong University of Science and Technology (HKUST), 2005 - present

RESEARCH INTERESTS

Dynamic adverse selection and moral hazard, multiple players' games and their application in asset pricing, corporate finance and industry organization.

WORKING PAPERS

• "Executive Compensation, Repeated Persistent Shock and Moral Hazard”, submitted
• "Contracting on Success”, submitted
• "Dynamic Agency, Costly Project Search and Repeated Private Shocks”, submitted
• "Screening and the Dynamics of Contract Design”, submitted (Jaksa Cvitanic and Huali Yang)
• "Continuous-time Delegated Investment Under Adverse Selection”, submitted (Nengjiu Ju)
• "Multiple-Player Games in Continuous Time with Imperfect Monitoring,” submitted
• "Dynamic Partnership Game”,  submitted
• "A General Equilibrium Model of a Multi-Firm Moral-Hazard Economy with Financial Markets”, submitted (Jaeyoung Sung)
• "Equilibrium Equity Premium, Interest Rate and the Cost of Capital in a Moral-Hazard Economy”, submitted (Jaeyoung Sung)
• Dynamic Agency Model with Finite Horizon”, submitted (Huali Yang)

SELECTED PUBLICATIONS   

• “Optimal Compensation and Pay-Performance Sensitivity in a Continuous-Time Principal-Agent Model”, Management Science, accepted (Nengjiu Ju) 
• “Optimal Incentive Contracts Under Relative Income Concerns”, Mathematics and Financial Economics, 2010 (Levon Goukasian)
• “Optimal Compensation  with Hidden Action and Lump-Sum Payment in a Continuous-Time  Model”,  Applied Mathematics and Optimization, 2009 (Jaksa Cvitanic and Jianfeng Zhang)
• “Principal-Agent Problems with Exit Options“,  The B.E. Journal in Theoretical Economics, 2008 (Jaksa Cvitanic and Jianfeng Zhang)
• “Optimal Contracts in Continuous-Time Models”, J. of Applied Mathematics and Stochastic Analysis, 2006 (Jaksa Cvitanic and Jianfeng Zhang)

HONORS AND AWARDS

• General Research Fund, 2009-2012 (PI). Project number: GRF 620909 ,  grant amount HK$582,156
• University Grant Council – School-based Initiatives, 2007-2009, (co-PI) .  Project number:  SBI06/07.BM13,  grant amount  HK$148,000
• HKUST direct allocation grant, 2006-2007 (PI). Project number: DAG05/06.BM28, grant amount HK$   90,000