Hao’s research mainly focuses on Stochastic Control and its applications to Mathematical Finance and Economics. More specifically, he studies interacting agents in financial markets, trying to understand how they collaborate or compete with each other, and how individual agent’s characteristics (such as preference and information) impacts macro-economic quantities, such as asset price and volatility. He also investigates optimal investment problems aiming to obtain semi-explicit optimal portfolio allocations in markets with stochastic investment opportunities. More recently, He is working on choosing trading strategies in markets with micro-structure noise and price impact, and designing optimal contracts between principal and agent, taking into account moral hazard and adverse selection. From the theoretical perspective, Hao studies Backward Stochastic Differential Equations which provides theoretical framework for all above applications.
Prior to joining the LSE, Hao was a postdoctoral researcher at Boston University and Fields Institute University of Toronto. He completed his PhD (2009) in Mathematics, University of Michigan.