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— Outstanding Teachers —

ZHAO, Xiaojian


Associate Professor

Education Background
PhD in Economics, University of Mannheim
MA in Economics and Politics, University of Freiburg
BMgt in Information Management and Information System, Jinan University
Research Field
Contract Theory, Applied Microeconomics, Psychology and Economics, Experimental Economics
Industrial Organization, Game Theory
Personal Website



Professor Zhao is an associate professor of economics at the School of Management and Economics of the Chinese University of Hong Kong (Shenzhen).His research interest lies in contract theory and its applications, behavioral and experimental economics, language and economics. Professor Zhao has published numerous articles in top economics journals such as Review of Economic Studies, Games and Economic Behavior, Management Science, Experimental Economics, Journal of Economic Behavior & Organization, and American Journal of Agricultural Economics. Professor Zhao’s research has been reported in media such as Tencent News, Sohu News, Baidu News,,,, The Paper etc.
Besides his position at the CUHK (Shenzhen), Professor Zhao is an assistant professor of economics at the Hong Kong University of Science and Technology, and faculty associate of HKUST Institute for Emerging Market Studies. Professor Zhao was a visiting scholar of Qianhai Institute for Innovative Research in 2015 and gave public lectures in QIIR in Shenzhen, and GENSBOX in Tianjin, introducing psychology and economics. He also gave HKUST Jockey Club Institute for Advanced Study Nobel Prize Popular Science Lectures in 2014 and 2016, respectively.

Academic Publications:

1. Hong, F., Zhao, X. (2017). The Emergence of Language Differences in Artificial Codes, Experimental Economics, December 2017, 20(4), 924-945.

2. Dessi, R., Zhao, X. (2017). Overconfidence, Stability and Investments, Journal of Economic Behavior & Organization, forthcoming.

3. Zhao, X. (2008). “Moral Hazard with Unawareness,” Rationality and Society, 20(4), 471-496.

4. Zhao, X. (2011). “Framing Contingencies in Contracts,” Mathematical Social Sciences, 61(1), 31-40.

5. von Thadden, E. and X. Zhao (2012). “Incentives for Unaware Agents,” Review of Economic Studies, 79(3), 1151-1174.

6. Chen, Y. and X. Zhao (2013). “Solution Concepts of Principal-Agent Models with Unawareness of Actions,” Games (Special Issue on Contract Theory), 4(3), 508-531.

7. von Thadden, E. and X. Zhao (2014). “Multi-task Agency with Unawareness,” Theory and Decision, 77(2), 197-222.

8. Hong, F. and X. Zhao (2014). “Information Manipulation and Climate Agreements,” American Journal of Agricultural Economics, 96(3), 851-861.

9. Li, S., M. Peitz and X. Zhao (2014). “Vertically Differentiated Duopoly with Unaware Consumers,” Mathematical Social Sciences (Special Issue on Unawareness), 70, 59-67.

10. Li, S., M. Peitz and X. Zhao (2016). “Information Disclosure and Consumer Awareness,” Journal of Economic Behavior & Organization, 128, 209-230.

11. Hong, F., W. Lim and X. Zhao (2017). “The Emergence of Compositional Grammars in Artificial Codes,” Games and Economic Behavior, 102, 255-268.

12. Hong, F. and X. Zhao (2017). “The Emergence of Language Differences in Artificial Codes,” Experimental Economics, 20(4), 924-945.

13.Dessi, R. and X. Zhao (2017). “Over-Confidence, Stability and Investments,” Journal of Economic Behavior & Organization, forthcoming.

14.Hong, F., W. Huang and X. Zhao (2017). “Sunk Cost as a Self-Management Device,” Management Science, forthcoming.