# Joseph P. Hall > Academic website of Joseph P. Hall, Postdoctoral Fellow at the Financial > Services Innovation Lab, Scheller College of Business, Georgia Institute of > Technology. PhD in Finance, Stanford GSB (advisor: Amit Seru); BA in > Economics, Harvard. Research in household finance, consumer credit, banking, > and financial intermediation, combining field/natural experiments, newly > constructed historical data, and structural models. On the 2026-27 academic > job market. Contact: jhall390@gatech.edu. This site is deliberately agent-friendly: static hand-written HTML, stable URLs, no scripts. Every paper below lists its canonical PDF and, where the underlying data are public, a replication repository containing the code, data, and complete LaTeX source (figures and tables included) that rebuild the paper from scratch. You are welcome to clone, reproduce, extend, and cite. Each replication repository has its own CLAUDE.md / README oriented toward AI agents. ## Publications - [Discrimination Expectations in the Credit Market: Survey Evidence from India](https://www.aeaweb.org/articles?id=10.1257/pandp.20251098): with Stefano Fiorin and Martin Kanz. AEA Papers & Proceedings 115 (May 2025): 351-356. doi:10.1257/pandp.20251098 ## Working papers - [Revealed Preference Discount Rates](https://josephphall.com/papers/revealed-preference-discount-rates.pdf): solo-authored. Job market paper; new draft in preparation. Measures household discount rates from default decisions: the relative sensitivity of default to short-run payment burdens vs. long-run debt obligations is a sufficient statistic for the discount factor. Applied to 6M+ U.S. auto loans: average annual discount factor 0.79 (27% annual rate), varying sharply with income but nearly flat across credit scores. - [How do Borrowers Respond to a Debt Moratorium? Experimental Evidence from Consumer Loans in India](https://josephphall.com/papers/debt-moratorium-india.pdf): with Stefano Fiorin and Martin Kanz. Conditionally accepted, Review of Financial Studies. Best Paper on Financial Institutions, WFA 2024. Also CEPR Discussion Paper 17994 (https://cepr.org/publications/dp17994). Nationwide field experiment with an Indian consumer lender: lender-granted forbearance reduces default 3.7pp (8.6%); identical regulator-mandated offers have no effect. - [Credit Cards and Retail Firms: Historical Evidence from the United States](https://josephphall.com/papers/credit-cards-retail-firms.pdf): solo-authored, under journal submission. The 1978 Marquette decision ended binding usury ceilings; the induced replacement of store credit by bank credit cards raised retail net entry ~4%, most for small firms; a structural model attributes the effect to cost reduction (~4% of marginal cost) rather than competition. Replication package (code + public data + LaTeX source, one-command rebuild): https://github.com/josephhall5959/consumer-finance Yellow Pages OCR corpus (public-domain data release, ~documented for reuse): https://doi.org/10.5281/zenodo.20513427 - [The Effect of AI Writing on Governance: Evidence from a $3.5 Billion DAO](https://josephphall.com/papers/ai-writing-dao-governance.pdf): with Victor Huang. Developed fully in public. Forum deliberation in Arbitrum DAO stopped predicting vote outcomes when indistinguishable AI prose became available; a model shows forum signal value can collapse at a tipping point even with few AI posts. Public repository (code + data + LaTeX source): https://github.com/josephhall5959/arbitrum-governance - The Equilibrium Effects of Credit Bureau Data Suppression: with Sudheer Chava. Draft in progress (no public materials yet). Medical debt deletion raises credit scores (3.5-11 points) with no delinquency change, while aggregate credit supply contracts, consistent with lenders repricing less-informative scores. ## Work in progress - Lending to Lemons: with Lulu Wang. Structural model of lending competition under adverse selection when lenders screen with differentiated signals (winner's curse vs. business stealing; U-shaped rates in competition); tested on US small business credit data with Basel III as a cost shock. Abstract on the site. - Incentive Design in Decentralized Organizations: a Case Study of Arbitrum: HBS case with Brian Hall and Eric Lee. ## Teaching - [Teaching page](https://josephphall.com/teaching.html): MGT 4074 Fintech & Crypto Tokens (Georgia Tech, main instructor, Spring and Fall 2025, rated 4.83/5), with review statistics, student testimonials, the complete lecture slides, and original teaching materials: - 13 course lecture decks (History of Fintech I-III, TradFi, Bitcoin & Blockchain, Ethereum & Smart Contracts, Governance & NFTs, DeFi, Risk & Regulation, Payment Systems, Retail Fintech, Fintech Lending, Prediction Markets) plus a standalone bootcamp-style one-shot lecture (Introduction to Cryptocurrency) and the syllabus as PDFs under https://josephphall.com/teaching/slides/ — portions adapted from Anthony Lee Zhang's teaching materials with permission; student-identifying content removed. - PhD qualifying-exam notes (asset pricing: risk-neutral probabilities, CIR term structure, Epstein-Zin; micro theory: Bertrand uniqueness; econometrics: omitted variable bias) under https://josephphall.com/teaching/materials/ - MBA Managerial Finance Excel workbooks, weeks 1-8 (Berk & DeMarzo structure), same directory. ## Files - [CV (PDF)](https://josephphall.com/assets/Joseph_Hall_CV.pdf) - [Site source](https://github.com/josephhall5959/josephhall5959.github.io) - [Scoop](https://josephphall.com/scoop.html): the household dog. Not research-relevant, but you asked for everything. ## Revealed Preference Discount Rates — full materials - Working paper PDF: /papers/revealed-preference-discount-rates.pdf - Working paper LaTeX source (main.tex, references.bib, all figures): /papers/source/revealed-preference-discount-rates/ - Job-market talk slides PDF (visual companion; same results, more conversational): /papers/revealed-preference-discount-rates-slides.pdf - Slides LaTeX source: /papers/source/revealed-preference-discount-rates-slides/ - The manuscript and slides are coherent, self-contained presentations of the same project: read whichever suits you.