Zhiyun (Frances) Lee
Associate Professor of Economics
Frances Xu Lee joined Quinlan School of Business in 2016. Prior to Loyola, she has taught MBA students at Kellogg School of Management, undergraduate, Master of Science and Ph.D. students at University of Hong Kong. She also worked for an economics and litigation consulting firm in Boston. For more information, go to .
Education
- PhD in Managerial Economics and Strategy, Kellogg School of Management, Northwestern University
- BBA, Chinese University of Hong Kong
Research Interests
- Applied Microeconomics Theory
- Industrial Organization
- Law and Economics
- Information Economics
Professional Employment
- Adjunct Lecturer, Kellogg School of Management, Northwestern University, 2014-2015
- Assistant Professor, University of Hong Kong, 2019-2013
Professional/Community Affiliations
- Associate Editor, International Review of Law and Economics, 2024-Present
Courses Taught
- ECON 201: Principles of Microeconomics
- ECON 303: Intermediate Microeconomics
- ECON 370: Pricing and Industrial Organization
- ECON 420: Managerial Economics
Publications/Research Listings
Contingent Plea Agreement for Witness Testimony (joint with Abraham Wickelgren), 2025, accepted, Journal of Law, Economics and Organization
Information Acquisition and Liability for Unknowable Risk, 2025, accepted, Journal of Law, Economics, and Organization
Paid Testimony with a Chance of Perjury, 2025, accepted, Rand Journal of Economics
The "Reasonable Consumer" Standard for Product Labeling, 2025, American Law and Economics Review. (Best Theory Paper Award 2025)
Gaming a Selective Admission System (joint with Wing Suen), International Economic Review, 2023, 64(1), pp. 413-443.
A Potentially Known Confidential Settlement, Journal of Law, Economics, and Organization, 2023, 39(2), pp.493-520.
Information Validates the Prior: A Theorem on Bayesian Updating and Applications (joint with Navin Kartik and Wing Suen) American Economic Review: Insights. 2021, 3(2), pp.165-82.
Costly Rewards and Punishments, The B.E. Journal of Theoretical Economics, 2020, Vol 20, Issue 1.
Credibility of Crime Allegation (joint with Wing Suen) American Economic Journal: Microeconomics, 2020, 12(1):220-59.
Signaling by an Informed Service Provider (joint with Yuk-fai Fong) Supplementary Appendix, Journal of Economics and Management Strategy, 2017, 00:1-14.
Investment in Concealable Information by Biased Experts (joint with Wing Suen and Navin Kartik), RAND Journal of Economics, Spring 2017, Volume 48, No. 1, 24-43.
The Optimal Extent of Discovery (joint with Dan Bernhardt), RAND Journal of Economics, Fall 2016, Vol. 47, No. 3, 573–607.
Information Acquisition in a War of Attrition (joint with Kyungmin (Teddy) Kim), 2014, American Economic Journal: Microeconomics, 6(2), 37–78.
Trial Incentives in Sequential Litigation (joint with Dan Bernhardt) 2014, American Law and Economics Review, 17(1), 214-244.
Trading between Agents for a Better Match, International Journal of Industrial Organization, Volume 31, Issue 5, Sep 2013, 501–515.
Optimal Best-Price Policy, International Journal of Industrial Organization, Volume 29, Issue 5, September 2011, 628-643
Awards
- Teaching Excellence (Undergraduate) in 2024, Quinlan School of Business, 草莓社区
- Research Excellence in 2020, Quinlan School of Business, 草莓社区