I am a PhD candidate at the Department of Economics at Harvard University (expected to graduate in May 2025). I will join Cornerstone Research in July 2025.
I am specializing in Industrial Organization and International Trade. My research centers around technology innovation and market structure in the container shipping industry. I also work on topics related to supply chain disruption.
I previously worked as:
- Summer associate at Cornerstone Research
- Economics/Research Scientist intern at Flexport
- Gap-year analyst at Goldman Sachs Global Investment Research
Research
1. How Big Is Too Big?: The Competitive Effects of Shipping Technology Innovation
Technological innovation drives economic progress but can also lead to unintended consequences, such as market over-consolidation. This paper examines the competitive effects of technological advancement in the container shipping industry, focusing on the relationship between vessel size and market structure, and its impact on welfare. Using a dynamic oligopoly model and proprietary data, we quantify the economies of scale associated with vessel size and explore how it interact with market competition and investment behavior. We find that a 10% increase in vessel size reduces operational costs by 3.4% but contributes to market concentration, potentially offsetting consumer benefits. Counterfactual analysis suggests that the welfare-optimal vessel size is around 20,000 TEU under current demand level, as larger vessels risk over-consolidating the market. Additionally, smaller innovation steps promote competition, while larger steps drive consolidation. These findings highlight the need for policymakers to balance the efficiency gains of technological advancements with their competitive impacts, particularly when designing infrastructure investments in industries with strong economies of scale.
2. Co-opetition On The Seven Seas: Global Strategic Alliance In The Container Shipping Industry
Global strategic alliances have become a defining feature of the container shipping industry, allowing firms to pool resources and coordinate operations to achieve efficiency gains. However, these alliances also raise concerns about their potential to limit competition and enhance market power. This paper examines the formation and dissolution of global strategic alliances in the container shipping industry, with a particular focus on the 2M Alliance between Maersk and MSC. Using empirical data and a multi-market Cournot oligopoly model with capacity constraints, we analyze the incentives behind alliance formation, the efficiency gains from vessel reallocation, and the impact on market competition and consumer welfare. The findings reveal that vessel reallocation plays a crucial role in enhancing supply-side efficiency, but the extent of these gains depends on the comparative advantage of alliance members and aggregate market conditions. Counterfactual simulations demonstrate that alliances can increase efficiency and consumer welfare when members have distinct fleet compositions, but they may also enhance market power under certain conditions. The study concludes with policy implications regarding the regulation and long-term viability of global strategic alliances in the shipping industry.
3. I Feel The Need For Speed: The Value of Fast and Reliable Transit During Supply Chain Distruption
Supply chain disruptions have become increasingly frequent and severe, raising concerns about the resilience of global trade networks. This paper quantifies how U.S. importers adjust their transportation choices in response to fluctuations in freight costs and transit time reliability. Using detailed quote and shipment data from Flexport, we estimate importers’ price sensitivity and their willingness to pay for faster and more predictable transit times. Our findings indicate that a 10% increase in shipping costs leads to a 2.6–11.3% decline in demand, while importers are willing to pay 0.56% of their cargo value per day saved in transit and 0.42% per day of reduced transit time variability. These results highlight the significant economic penalties associated with shipping delays and uncertainty. We further show that sectoral differences exist, with electronics importers prioritizing transit speed and apparel importers valuing predictability. Our findings have direct implications for trade policy, infrastructure investment, and supply chain risk management, providing a framework for evaluating the cost-benefit trade-offs of initiatives aimed at improving supply chain resilience.