Australian School of Business > Schools

Jay Pil Choi

Jay Choi 

PhD, Harvard University

MA, Harvard University

BA, Seoul National University

Scientia Professor


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Australian School of Business Building

Jay Pil Choi is currently Scientia Professor in the School of Economics within the Australian School of Business at the University of New South Wales. He had prior appointments at Michigan State University (2000-2011), Seoul National University (1999-2000) and Columbia University (1990-1999). Jay received his Bachelor of Arts in Economics from Seoul National University in 1982, his Master of Arts in Economics and his PhD in Economics from Harvard University in 1990.


Jay has held visiting appointments at Victoria University of Wellington, Technical University of Dresden, Wuhan University and UNSW. He is Co-Editor of the International Journal of Industrial Organization (2005-) and is on the Editorial Board for Information Economics and Policy (2008-) and Journal of the Korean Econometric Society (2007-). He is also Associate Editor of e-conomics (2007-). Jay won the Public Utility Research Prize for the Best Paper in Regulatory Economics at the 7th International Industrial Organization Conference in 2009.


Jay works in applied microeconomic theory with a focus on industrial organization. He has authored or co-authored more than fifty articles in a variety of areas in economics. Those articles have appeared in leading scholarly and professional journals, including the American Economic Review, the Quarterly Journal of Economics, the Review of Economic Studies, and the Rand Journal of Economics.


  • Internet Security, Vulnerability Disclosure, and Software Provision,' (with C. Fershtman and N. Gandal), Journal of Industrial Economics, December 2010, pp. 868-894
  • Tying in Two-Sided Markets with Multi-Homing,' Journal of Industrial Economics, September 2010, pp. 607-626
  • Vaporware,' International Economic Review, August 2010, pp. 653-669 (with E. G. Kristiansen and J. Nahm)
  • Patent Pools and Cross Licensing in the Shadow of Patent Litigation,' International Economic Review, May 2010, pp. 441-460
  • Strategic Incentives to Share Customer Information: Substitutes or Complements?' Journal of Economics and Management Strategy, 2010, pp. 403-433 (with Byungcheol Kim)
  • The Economics of Politically-Connected Firms,' International Tax and Public Finance, October 2009, pp. 605-620
  • Alternative Damage Rules and Probabilistic Intellectual Property Rights: Unjust Enrichment, Lost Profits and Reasonable Royalty Remedies,' Information Economics and Policy, June 2009, pp. 145-157
  • Merger with Bundling in Complementary Markets,' Journal of Industrial Economics, September 2008, pp. 553-577
  • The Economics and Politics of International Merger Enforcement: A Case Study of GE/Honeywell Merger,' in V. Ghosal and J. Stennek (eds.), The Political Economy of Antitrust, North-Holland, 2007, pp. 241-258
  • The Optimal Number of Firms with an Application to Professional Sports Leagues,' Journal of Sports Economics, Febraury 2007, pp. 99-108 (with S. Bae)
  • Bundling, Entry Deterrence, and Specialist Innovators,' Journal of Business, 2006, Vol. 79, No. 5, pp. 2575-2594 (with C. Stefanadis)
  • A Model of Piracy,' Information Economics and Policy, Vol. 18, No. 3, September 2006, pp. 303-320 (with S. Bae)
  • Broadcast Competition and Advertising with Free Entry: Subscription vs. Free-to-Air,' Information Economics and Policy, Vol. 18, No. 2, June 2006, pp. 181-196
  • Antitrust Analysis of Tying Arrangements,' in J. P. Choi (ed.), Recent Developments in Antitrust: Theory and Evidence, MIT Press, 2006, pp. 61-90
  • Corruption and the Shadow Economy,' International Economic Review, August 2005, pp. 817-836 (with M. Thum), reprinted in Friedrich Schneider, ed., The Economics of the Hidden Economy, Edward Elgar Publishing, 2008
  • Live and Let Live: A Tale of Weak Patents,' Journal of European Economic Association, April-May 2005, pp. 724-733
  • An Economic Analysis of Product Pre-Announcements,' CESifo Economic Studies, 2005, pp. 301-321 (with E.G. Kristiansen and J. Nahm), reprinted in G. Illing and M. Peitz (eds.), Understanding the Digital Economy, MIT Press
  • The Economics of Repeated Extortion,' Rand Journal of Economics, Summer 2004, pp. 203-223 (with M. Thum)
  • Strategic Second Sourcing by Multinationals,' International Economic Review, May 2004, pp. 579-600 (with C. Davidson)
  • Tying and Innovation: A Dynamic Analysis of Tying Arrangements,' Economic Journal, January 2004, pp. 83-101
  • Bundling New Products with Old to Signal Quality, with Application to the Sequencing of New Products,' International Journal of Industrial Organization, vol. 21, October 2003, pp. 1179-1200
  • The Effects of Integration on R&D Incentives in Systems Markets,' Netnomics, Special Issue on the Microeconomics of the New Economy, May 2003 (with G. Lee and C. Stefanadis)
  • The Dynamics of Corruption with the Ratchet Effect,' Journal of Public Economics, vol. 87, 2003, pp. 427-443 (with M. Thum)
  • A Dynamic Analysis of Licensing: The 'Boomerang' Effect and Grant-Back Clauses,' International Economic Review, August 2002, pp. 803-829
  • Planned Obsolescence as a Signal of Quality,' International Economic Journal, Winter 2001, pp. 59-79
  • A Theory of Mixed Bundling Applied to the GE-Honeywell Merger,' Antitrust, Fall 2001, pp. 32-33
  • Protectionist Response to Import Competition in Declining Industries Reconsidered,' European Journal of Political Economy, 2001, pp. 193-201
  • Tying, Investment, and the Dynamic Leverage Theory,' Rand Journal of Economics, Spring 2001, pp. 52-71 (with C. Stefanadis), reprinted in Justin Johnson and Michael Waldman, eds., Pricing Tactics, Strategies, and Outcomes, Edward Elgar Publishing, 2007
  • Technology Transfer with Moral Hazard,' International Journal of Industrial Organization, 2001, pp. 249-266
  • Vertical Foreclosure with the Choice of Input Specifications,' Rand Journal of Economics, Winter 2000, pp. 717-743 (with S. Yi)
  • Patent Litigation as an Information Transmission Mechanism,' American Economic Review, December 1998, pp. 1249-1263
  • Brand Extension as Informational Leverage,' Review of Economic Studies, October 1998, pp. 655-670
  • Market Structure and the Timing of Technology Adoption with Network Externalities,' European Economic Review, February 1998, pp. 225-244 (with M. Thum)
  • Information Concealment in the Theory of Vertical Integration,' Journal of Economic Behavior and Organization, 1998, 117-131
  • Herd Behavior, the 'Penguin Effect', and the Suppression of Informational Diffusion: An Analysis of Informational Externalities and Payoff Interdependency,' Rand Journal of Economics, Autumn 1997, pp. 407-425
  • The Provision of (Two-Way) Converters in the Transition Process to a New Incompatible Technology,' Journal of Industrial Economics, June 1997, pp. 139-154
  • Preemptive R&D, Rent Dissipation and the 'Leverage Theory',' Quarterly Journal of Economics, November 1996, pp. 1153-1181
  • Do Converters Facilitate the Transition to a New Incompatible Technology?: A Dynamic Analysis of Converters,' International Journal of Industrial Organization, October 1996, pp. 825-835
  • Standardization and Experimentation: Ex Ante versus Ex Post Standardization,' European Journal of Political Economy, 1996, pp. 273-290
  • A Rationale for Quota Protection: A Political Economy Approach,' Eastern Economic Journal, Fall 1996, pp. 421-424
  • Optimal Tariffs and the Choice of Technology: Discriminatory Tariffs vs. the 'Most Favored Nation' Clause,' Journal of International Economics, January 1995, pp. 143-160
  • Irreversible Choice of Uncertain Technologies with Network Externalities,' Rand Journal of Economics, Autumn 1994, pp.382-401
  • Network Externality, Compatibility Choice, and Planned Obsolescence,' Journal of Industrial Economics, June 1994, pp.167-182
  • Making Sense of Inefficient Intrafirm Transactions: A Signaling Approach,' International Journal of Industrial Organization, 1994, pp.495-508
  • Cooperative R&D with Product Market Competition', International Journal of Industrial Organization, December 1993, pp.553-571
  • Dynamic R&D Competition, Research Line Diversity, and Intellectual Property Rights,' Journal of Economics and Management Strategy, Summer 1993, pp. 277-298
  • Cooperative R&D with Moral Hazard,' Economics Letters, 1992, pp. 485-491
  • Dynamic R&D Competition under 'Hazard Rate' Uncertainty,' Rand Journal of Economics, Winter 1991, pp.596-610
  • Market Structure, Incentive to Patent and the Pace of Innovation,' Economics Letters, 1990, pp.277-283

Research interests

  • Industrial organisation

Research grants

 Courses taught

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