"Differences of Opinion of Public Information and Speculative Trading in Stocks and Options", with Hui Ou-Yang, Review of Financial Studies, 2008. (Placed third in the best paper award at CIFC in 2004 and judged best paper in the "most relevant to practitioners" category at WFA in 2005.)
"Inventory Information", with Martin Evans and Rich Lyons, Journal of Business, 79：325-364, 2006.
"Model Uncertainty, Limited Market Participation and Asset Prices", with Tan Wang and Harold H. Zhang, Review of Financial Studies, 1219 – 1251, 2005.
"The Dynamics of International Equity Market Expectations", with Michael J. Brennan, Norman Strong and Xinzhong Xu, Journal of Financial Economics, 257-288, 2005.
"Product Strategy for Innovators in Markets with Network Effects", with Sun, B., Xie, J, Marketing Science, 243-254,2004.
"Sidelined Investors, Trading-Generated News, and Security Returns", with J. Coval and D. Hirshleifer, Review of Financial Studies, 15, 615-648, 2002.
"Imperfect Competition Among Informed Traders", with K. Back and G. Willard, Journal of Finance, 5, 2117-2155, 2000. (Nominated for Smith-Breeden Prize.)
"The Effect of Derivative Assets on Endogenous Information Acquisition and Price Behavior in a Rational Expectations Equilibrium", Review of Financial Studies, 12, 131-163,1999.
"International Portfolio Investment Flows", with Michael J. Brennan, Journal of Finance, 52, 1851-1880, 1997. (Nominated for Smith-Breeden Prize. Best paper award in emerging market research at NFA. Reprinted in International Library of Critical Writings in Financial Economics, Edited by Richard Roll.)
"Information, Trade, and Derivative Securities", with Michael J. Brennan, Review of Financial Studies, 9, 163-208, 1996