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Faculty Directory

Ing-Haw Cheng

Associate Professor of Business Administration





Personal Website



PhD, Princeton University, 2009; MA, Princeton University, 2006; BS, University of Chicago, 2001

Areas of Expertise



Futures and Options Markets


Ing-Haw teaches Capital Markets and Futures and Options Markets at Tuck.

Current Research Topics

Beliefs, incentives, risk-taking, derivatives

Professional Activities

Academic positions

  • Tuck School of Business, 2013–present
  • Assistant Professor, University of Michigan, 2009–13
  • Teaching Assistant, Princeton University, 2007–09

Nonacademic positions

  • Deloitte Consulting, 2001–04
  • Federal Reserve Bank of Chicago, 2000


  • Best Discussant, Financial Research Association, 2017
  • Distinguished Referee, Review of Financial Studies, 2016
  • NBER Household Finance Grant, 2016
  • NBER Entrepreneurship Grant, 2016
  • University of Michigan Mitsui Life Symposium, Best Discussant, 2013
  • University of Michigan Ross Teaching Excellence Award Finalist, 2011
  • BSI Gamma Foundation Grant, 2011
  • Princeton University Towbes Prize for Outstanding Teaching, 2008
  • Princeton University Department of Economics Fellowship, 2004–07
  • Princeton University Industrial Relations Section Fellowship, 2004–06

Working Papers

  • With A. Hsiaw, "Distrust in Experts and the Origins of Disagreement"
  • With K. Shue and H. Hong, “Do Managers Do Good with Other People’s Money?”

Selected Publications

  • "Volatility Markets Underreacted to the Early Stages of the COVID-19 Pandemic", Review of Asset Pricing Studies, 10(4), 2020
  • With A. Hsiaw, "Reporting Sexual Misconduct in the #MeToo Era", American Economic Journal: Microeconomics, Forthcoming
  • "The VIX Premium," Review of Financial Studies, 32(1), 2019.
  • With A. Kirilenko and W. Xiong, “Convective Risk Flows in Commodity Futures Markets," Review of Finance, 19(5), 2015
  • With H. Hong and J. Scheinkman, “Yesterday's Heroes: Compensation and Risk at Financial Firms,” Journal of Finance, 70(2), 2015
  • With W. Xiong, "The Financialization of Commodity Futures Markets," Annual Review of Financial Economics, 6, 2014
  • With S. Raina and W. Xiong, “Wall Street and the Housing Bubble," American Economic Review, 104(9), 2014
  • With W. Xiong, “Why Do Hedgers Trade So Much?, "Journal of Legal Studies, 43(S2), 2014
  • With K. Milbradt, “The Hazards of Debt: Rollover Freezes, Agency, and Bailouts,” Review of Financial Studies, 25(4), 2012
  • With E. French, “The Effect of the Run-Up in the Stock Market on Labor Supply,” Economic Perspectives (Federal Reserve Bank of Chicago), 2000