Recently, a paper titled Efficiency of thin and thick markets (short as Efficiency hereinafter) co-authored by Professor Li Qi, director of CUEB International School of Economics and Management, and Professor Gan Li with Southwestern University of Finance and Economics, was published in Journal of Econometrics, a world-class econometrics journal.

The paper had attracted great attention from related fields of academia even before it was published. Particularly, it was spoken highly of by Professor Alvin E. Roth from Department of Economics, Stanford University, who won the 2012 Nobel Economics Prize for his prominent contribution to research in market mechanism design and marching theory. He said: “Efficiency of thin and thick markets contains a beautifully simple model designed to investigate the efficiency implications of the size of a market. While this paper will not be the last word on these subjects, it is a really nice first step, and the biggest step to date at unifying two very different matching literatures, one which focuses on stable matching, and the other which focuses on search and matching. I think it is an exceptionally nice paper, really first rate work.”