Hello, my name is Changyeop Lee, a doctoral candidate in economics at the Ohio State University. My research interests are information economics, industrial organization theory, networks, and political economics. I am on the 2024-2025 job market and available for interviews.
PhD in Economics, 2025 (Expected)
The Ohio State University
MS in Economics, 2019
Sungkyunkwan University
BA in Economics, 2018
Sungkyunkwan University
BSc in Economics, 2017
Erasmus University
We study the role of investment banking as delegated cheap talk. In our model of initial public offering (IPO), two parties have conflicting interests: a seller wants to sell his firm, whereas a buyer wants to invest only in a good firm. All communication is cheap talk. We show that the seller can influence the buyer by contracting with an intermediary and delegating the communication. Any successful contract requires the intermediary to share the risk of loss with the buyer. A seller-optimal contract maximizes the intermediary’s bias in the seller’s favor while maintaining minimally sufficient alignment with the buyer’s incentives.
Recitation Leader: FA 20, 21, SP 24
Independent Instructor: SP 22
Recitation Leader: FA 22, 23, 24
Recitation Leader: SP 21