About Hengjie
Professor Ai’s research interests include topics in asset pricing, corporate finance, and macroeconomic theory. His research has been published in top Economics journals such as the American Economic Review, Econometrica, top finance journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies.
Prior to joining the Wisconsin School of Business, Professor Ai served as a faculty member at the Fuqua School of Business of Duke University and at the Carlson School of Management at the University of Minnesota.
Hengjie holds a PhD in Economics from the University of Minnesota.
Selected Accepted Journal Articles
Ai, H. & Bansal, R. & Guo, H. & Yaron, A. (2025). Identifying Preference for Early Resolution of Uncertainty from Asset Prices American Economic Review
Selected Published Journal Articles
Ai, H. & Kiku, D. & Li, R. (2023). A Quantitative Model of Dynamic Moral Hazard Review of Financial Studies
Ai, H. & Han, L. & Pan, X. & Xu, L. (2022). The Cross-Section of Monetary Policy Announcement Premium Journal of Financial Economics
Ai, H. & Bhandari, A. (2021). Asset Pricing with Endogenously Uninsurable Tail Risks Econometrica
Ai, H. & Kiku, D. & Li, R. & Tong, J. (2021). A Unified Model of Firm Dynamics with Limited Commitment and Assortative Matching Journal of Finance
Ai, H. & Li, K. & Yang, F. (2020). Financial Intermediation and Capital Reallocation Journal of Financial Economics
Ai, H. & Li, J. & Li, K. & Schlag, C. (2020). The Collateralizability Premium Review of Financial Studies
Ai, H. & Croce, M. & Diercks, A. (2018). News Shocks and the Production Based Term Structure of Equity Returns Review of Financial Studies
Ai, H. & Bansal, R. (2018). Risk Preferences and the Macroeconomic Announcement Premium Econometrica
Ai, H. (2018). A Tractable Model of Limited Enforcement and the Life-Cycle Dynamics of Firms Economic Letters
Ai, H. & Kiku, D. (2016). Volatility Risks and Growth Options Management Science
Ai, H. & Li, R. (2015). Investment and CEO Compensation under Limited Commitment Journal of Financial Economics
Presentations
American Finance Association Meeting (2026) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
Cheung Kong Graduate School of Business Seminar (2025) Using asset prices to measure the long-run impact of monetary policy
FMA Asia Conference (2025) PhD Consortium planetary
FMA Asia Conference (2025) Using asset prices to measure the long-run impact of monetary policy
Federal Reserve Bank of Richmond, Richmond (2025) Using asset prices to measure the long-run impact of monetary policy
Loyola University seminar (2025) Using asset prices to measure the long-run impact of monetary policy
Macro Finance Society (2025) Using asset prices to measure the long-run impact of monetary policy
Richmond Fed CORE Week (2025) Using asset prices to measure the long-run impact of monetary policy
Stanford Institute of Theoretical Economics (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
Hong Kong University Lecture (2025) Using asset prices to measure the long-run impact of monetary policy
Hong Kong University of Science and Technology (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
Finance Theory Group Meeting (2025) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
UBC Winter Finance (2025) An Arrow Pratt Theory of Preference for Early Resolution of Universtity
Cowles Conference on General Equilibrium and its Applications (2024) Identifying Preference for Early Resolution of Uncertainty from Asset Prices
TCOB Conference on Dynamic Economics – Applications & Theory (2024) Identifying Preference for Early Resolution of Uncertainty from Asset Prices
Advances in macro-finance Tepper-Laef conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns
UT Dallas Finance Conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns
Federal Reserve Bank of Atlanta Seminar (2024) Using asset prices to identify preference for early resolution of uncertainty
Peking University Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
China Economic Society, North American Conference (2024) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns
Indiana University Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
UC Berkeley Seminar (2024) An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty
American Finance Association (2024) Identifying preference for early resolution from asset prices
CDI Conference in Derivatives (2023) Identifying Preference for Early Resolution of Uncertainty from Asset Prices
Zhejiang University Seminar (2023) Information Driven Volatility
Macro Finance Society, Chicago (2023) Information driven volatility
SITE New Frontiers in Asset Pricing (2023) Information driven volatility
China International Conference in Finance (2023) Information driven volatility
Peking University PHBS Workshop (2023) Identifying preference for early resolution of uncertainty from asset prices
European Finance Association Meeting (2023) Identify preference for early resolution of uncertainty from asset prices
Financial Intermediation Research Society (2023) Information driven volatility
Fudan University Seminar (2023) Information driven volatility
University of College London (2023) Information driven volatility
Dongbei University of Finance and Economics Seminar (2023) Information driven volatility
Indiana University Seminar (2023) Nominal rigidity and the inflation risk premium: identification from the cross section of equity returns
Wuhan University Seminar (2022) Information driven volatility
Zhongnan University of Economics and Law Seminar (2022) Information driven volatility
Tele Aviv Finance Conference (2022) Identifying Preference for early resolution of uncertainty from Asset Prices
University of Connecticut Finance Conference (2022) Information driven volatility
Purdue University Seminar (2022) Information Driven Volatility
NBER Capital Markets (2022) Information acquisition and the pre-FOMC announcement drift
Society of Economic Dynamics (2022) Identifying preference for early resolution of uncertainty from asset prices
Western Finance Association Conference (2022) Information driven volatility
Workshop on Production Based Asset Pricing (2022) Equilibrium Value and Profitability Premium
Adam Smith Workshop (2022) Information driven volatility
Society of Financial Studies Cavalcade (2022) Information driven volatility
UNC Chapel Hill Seminar (2022) Information driven volatility
Baruch College Seminar (2022) Information driven volatility
Midwest Finance Association Conference (2022) Information driven volatility
Midwest Finance Association Meeting (2020) An evolutionary theory of preference for early resolution of uncertainty
Professional Organizations
Western Finance Association
SFS Cavalcade
Midwest Finance Association
Midwest Finance Association
Western Finance Association
Society of Financial Studies
Midwest Finance Association
Editorial and Reviewing Activities
Management Science – Since July 2023
Associate Editor
Management Science – Since January 2023
Associate Editor
American Economic Review – Since January 2022
Ad Hoc Reviewer
Journal of Finance – Since January 2022
Ad Hoc Reviewer
Journal of Financial Economics – Since January 2022
Ad Hoc Reviewer
Journal of Political Economy – Since January 2022
Ad Hoc Reviewer
Review of Financial Studies – Since January 2022
Ad Hoc Reviewer
Eonnometrica – Since January 2022
Ad Hoc Reviewer
Popular Media
- Financial Times.
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