Biography
I am a fourth-year Ph.D. student in Economics at Iowa State University. Before Ph.D., I obtained my bachelor’s and master’s degree from Hanyang University, Seoul, South Korea.
My research lies at the intersection of macroeconomics – with a focus on understanding the underlying mechanisms for fertility decisions and the macroeconomic implications of population dynamics.
News
- [Nov. 2024] Presentation @Southern Economic Association, Washington D.C.
- [Oct. 2024] Presentation @19th Graduate Student Workshop, Washington University of St.Louis
- [Sep. 2024] Presentation @Midwest Macro Meeting, Purdue University
- [July. 2024] First update of personal webpage!
Work in Progress
Intergenerational Contract under Incomplete Information
Ambiguity Aversion and Fertility Decisions
-
Abstract. This paper investigates how ambiguity aversion affects fertility decisions, considering the uncertainty surrounding the benefits of parenthood. We extend the Becker and Barro (1988) fertility model by incorporating ambiguity aversion to capture parents’ decision-making process accurately. We assume that individuals care about their own and children’s well-being (dynastic altruism) and face ambiguity about their children’s future abilities (ambiguity aversion). Using a multiple priors utility framework, we model parents’ preferences as maximizing their minimum expected utility of descendants, focusing on the worst-case scenario for their child’s ability. Our findings suggest that more ambiguity-averse parents tend to have fewer children, as they emphasize the lowest possible outcome. This insight helps explain declining fertility rates and rising childlessness in developed countries, as individuals prioritize predictable outcomes over uncertain returns of parenthood.
Teaching
Teaching Assistant
-
ECON604, Ph.D. Advanced Macroeconomics, Iowa State University, Spring 2024
-
ECON603, Ph.D. Microeconomics - Game Theory, Iowa State University, Spring 2023
-
ECON101, Introduction to Microeconomics, Iowa State University, Fall 2023
-
ECON371, Introduction to Econometrics, Iowa State University, Fall 2022
Contact
Address: 518 Farm House Lane, Ames, Iowa 50011-1054
Office Location: 280B Heady Hall
Email: hongseok (at) iastate.edu
Phone: (515) 230-0000
