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Jian Li.

Jian Li.

Institution

Columbia University

PhD Year

2021

FTG Membership

Member

Website

https://www.lijianuchicago.com/

Featured Work

Borrowing from a Bigtech Platform

Oct 28, 2026

Jian Li., Stefano Pegoraro

We model credit competition between a bigtech platform and a bank lending to a merchant under limited commitment and asymmetric information about the merchant’s incentives to default. The platform leverages its control over a marketplace to enforce partial loan repayments, enabling it to serve certain unbanked borrowers. When directly competing with the bank, the platform gains an endogenous screening advantage as borrowers with stronger incentives...