Loyola University Chicago

Quinlan School of Business

Faculty and Staff

Frances Xu Lee

Title/s:  Assistant Professor

Office #:  Schreiber 715

Phone: 312.915.6561


CV Link: Frances-Xu-Lee-CV

External Webpage: https://sites.google.com/site/researchoffrancesxu/


Frances Xu Lee joined Quinlan School of Business in 2016. Prior to Loyola, she has taught MBA students at Kellogg School of Management, undergraduate, Master of Science and Ph.D. students at University of Hong Kong. She also worked for an economics and litigation consulting firm in Boston.


  • Ph.D. in Managerial Economics and Strategy, Kellogg School of Management, Northwestern University, 2008.
  • B.B.A. Chinese University of Hong Kong, 2003.

Research Interests

  • Applied Microeconomics Theory
  • Industrial Organization
  • Law and Economics
  • Information Economics

Professional & Community Affiliations

Journal referees:

  • Rand Journal of Economics,
  • American Economic Journal: Microeconomics,
  • Journal of Economic Theory,
  • Journal of Public Economics,
  • Journal of Industrial Economics
  • International Journal of Industrial Organization,
  • Journal of Law, Economics and Organization,
  • International Review of Law and Economics,
  • B.E. Journal of Theoretical Economics,
  • American Law and Economics Review.

Selected Publications

Costly Rewards and Punishments, accepted, The B.E. Journal of Theoretical Economics

Credibility of Crime Allegations (with Wing Suen), accepted, American Economic Journal: Microeconomics

Signaling by an Informed Service Provider (joint with Yuk-fai Fong), Journal of Economics and Management Strategy, 2017, 00:1-14.

Investment in Concealable Information by Biased Experts (joint with Wing Suen and Navin Kartik), RAND Journal of Economics, Spring 2017, Volume 48, No. 1, 24-43.

The Optimal Extent of Discovery (joint with Dan Bernhardt), RAND Journal of Economics, Fall 2016, Vol. 47, No. 3, pp. 573–607.

Information Acquisition in a War of Attrition (joint with Kyungmin (Teddy) Kim), 2014, American Economic Journal: Microeconomics, 6(2), 37–78.     

Trial Incentives in Sequential Litigation (joint with Dan Bernhardt) 2014, American Law and Economics Review, 17(1), 214-244. 

Trading between Agents for a Better Match, International Journal of Industrial Organization, Volume 31, Issue 5, Sep 2013, Pages 501–515.

Optimal Best-Price Policy, International Journal of Industrial Organization, Volume 29, Issue 5, September 2011, Pages 628-643