IlWoo (Iru) Hwang
Seoul National University · Economics, Econometrics and Finance
About the Lab
Professor IlWoo (Iru) Hwang's research lab specializes in information economics, mechanism design, and dynamic contracting under asymmetric information. The lab investigates strategic information disclosure, incentives in team production, and bargaining dynamics in environments with uncertainty and learning. A central theme is how firms and institutions strategically manage information to influence behavior, especially in competitive and search markets with heterogeneous agents. The lab also explores the interplay between learning, incentives, and equilibrium outcomes in dynamic settings.
Research Overview
Research Output Trend
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Selected Papers
15We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends on both their current effort level and the project's uncertain prospects. In this environment, each member can encourage the others by making them more optimistic about the project's prospects. We study the extent to which this incentive counters the usual free‐riding incentive. Restricting the agents' access to feedback can increase their equilibrium effort levels by mitigating
We study bargaining between a fixed agenda-setter and responder over successive issues. If the responder rejects the setter's proposal, the setter can attempt to assert her will to implement her ideal and will succeed with a probability that depends on her "personal power". Players learn about the setter's power as gridlock persists. Gridlock occurs when the setter's perceived power is either too high or too low, and the players reach compromise when the setter has moderate personal power. The p
Research Areas
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