Faculty Profiles

781-239-5052

Yunwei Gai received his Ph.D. degree in Economics from the Florida State University. He has a B.S. degree in International Trade from Wuhan University, China. In his Ph.D. dissertation, he investigated hospital market power and its impact on hospital prices as a result of merger activities. Dr. Gai's primary research interests are in the areas of Applied Econometrics and Health Economics. His work has been published in Health Economics, American Journal of Hypertension, Atlantic Economic Journal, Journal of Derivatives and Hedge Funds, and Health Financing Revisited: A Practitioner's Guide published by the World Bank and other academic journals. He is referee for many academic journals and conferences including Small Business Economics Journal, Entrepreneurship Theory and Practice, American Journal of Public Health, American Journal of Hypertension, and the World Congress on Health Economics. Dr. Gai's current research focuses on insurance gaps and chronic condition management; impacts of health insurance on entrepreneurship activities; and the importance of preventative health care. In addition to continuing his work in health care, he is also interested in the application of healthcare Econometrics models in entrepreneurial activities, international trade and financial markets such as using survival models to analyze financing options and business performance. Dr. Gai teaches courses at the undergraduate and graduate level at Babson College. His recent courses are Industrial Organization and Public Policy, Managerial Economics, Econometrics, Customer Markets and Marketing (MBA), Economic and Financial Forecasting (MBA), and Health Economics (MBA).

Ph D, Florida State University
MS, Florida State University
BS, Wuhan University

Industrial Organization; Econometrics; Financial Economics; Healthcare and Public Policy

2021 — Faculty Research Angel Fund (FRAF), Arthur M. Blank School for Entrepreneurial Leadership
2021 — Research Reimbursement Award, Babson Faculty Research Fund
2021 — Course Release, Babson College
2009 — Babson Faculty Research Fund,
2008 — Babson Faculty Research Fund, Major Award,,
2008 — Honorarium from Loyola University Chicago,
2006 — DeVoe Moore Dissertation Fellowship,
2006 — Florida State University Dissertation Research Grant,
2005 — The Pepper Institute Dissertation Fellowship,
2005 — The Irvin & Peggy Sobel Award, for outstanding Ph.D. Candidates,
2002 — James H. Gapinski Award, for outstanding first-year graduate student,
2001 — Florida State University Presidential University Research Fellowship,
1999 — Grand Prize in the National English Competition for College Students, Chinese Education Department,
1998 — Commercial Bank Scholarship, Commercial Bank of China,
1997 — People’s Scholarship, Wuhan University,

Degree Courses 2025
- ECN 7520 ECONOMIC & FINANCIAL FORECASTING
- ECN 7555 HEALTH CARE: MARKET ANALYTICS AND STRAT
Degree Courses 2024
- ECN 3620 ECONOMETRICS
- ECN 7520 ECONOMIC & FINANCIAL FORECASTING
- ECN 7555 HEALTH CARE: MARKET ANALYTICS AND STRAT
Degree Courses 2023
- ECN 3620 ECONOMETRICS
- ECN 7520 ECONOMIC & FINANCIAL FORECASTING
- ECN 7555 HEALTH CARE: MARKET ANALYTICS AND STRAT

Journal Articles

Staveley-O'Carroll, J.O., Gai, Y. (2023). Adverse Selection and Risk Pooling in the Health Insurance Market: a Classroom Demonstration. Journal of Economic Education, The.
Gai, Y., Jones, K.A. (2020). Insurance patterns and instability from 2006 to 2016. BMC Health Services Research. Vol: 20, Issue: April, Page: 334-345. Springer Nature/Health Systems Global. link
Gai, Y., Polutnik, L. (2019). A Lecture on the Pharmaceutical Industry in the United States. Journal of International Business Education. Vol: 14, Issue: 1, Page: 1-24. NeilsonJournals Publishing. link
Gai, Y., Polutnik, L. (2019). Sovaldi: Pricing of New Products and Consequences. Journal of International Business Education. Vol: 14, Issue: 1, Page: 1-16. NeilsonJournals Publishing. link
Gai, Y., Pachamanova, D.A. (2019). Impact of the Medicare Hospital Readmission Reduction Program on Vulnerable Populations. BMC Health Services Research. Vol: 19, Issue: 1, Page: 837. Springer. link
Gai, Y., Marthinsen, J.E. (2019). Medicaid Expansion, HIV Testing, and HIV-Related Risk Behaviors in the United States, 2010–2017. American Journal of Public Health. Vol: 109, Issue: 10, Page: 1404-1412. the American Public Health Association (APHA). link
Gai, Y. (2019). Does State-Mandated Reporting work? The Case of Surgical Site Infection in CABG Patients. Applied Economics. Vol: 51, Issue: 56, Page: 5986-5998. Taylor & Francis. link
Gai, Y., Feng, L. (2017). Relationship between Pharmacists and Adult Influenza Vaccination after Controlling Individual and Neighbourhood Effects. Journal of the American Pharmacists Association. Vol: 57, Issue: 4, Page: 474-482.e12. Elsevier. link
Gai, Y., Feng, L. (2017). Local Labor Market Condition and Seasonal Flu Vaccination. Atlantic Economic Journal. Vol: 45, Page: 181–199. Springer. link
Shen, M., Gai, Y., Feng, L. (2016). Limited Access to Healthcare among Hispanics in the US-Mexico Border Region. American Journal of Health Behavior. Vol: 40, Issue: 5.
Way, M.M., Polutnik, L., Gai, Y., , . (2016). Compensation and Employment Impact of a Full-time MBA Program. International Advances in Economic Research. Springer.
Jones, K.A., Gai, Y. (2015). Patterns of Representation in WTO Committee Chairs, 1995–2012. World Trade Review. Vol: 14, Issue: 3. Cambridge University Press.
Gai, Y., Minniti, M. (2015). External Financing and the Survival of Black-Owned Start-Ups in the US. Eastern Economic Journal. Palgrave MacMillan. link
Gai, Y., Minniti, M. (2015). Health Insurance, Job Lock, and the Supply of Self-Employment. Journal of Small Business Management. Vol: 53, Issue: 2, Page: 558-580. Wiley-Blackwell Publishing, Inc.. link
Gai, Y. (2014). Relationship between local family physician supply and influenza vaccination after controlling for individual and neighborhood effects. American Journal of Infection Control. Vol: 42, Issue: 5, Page: 500-505. Mosby, Inc.. link
Feng, L., Gai, Y., Chen, X. (2014). Family Learning Environment and Early Literacy: A Comparison of Bilingual and Monolingual Children . Economics of Education Review. Vol: 39, Page: 110-130. Elsevier.
Gai, Y., Feng, L. (2013). Factors Associated With First-Time Use of Preventive Services in the United States. American Journal of Health Behavior. Vol: 37, Issue: 2, Page: 257-268. PNG Publications.
Jones, K.A., Gai, Y. (2013). Joining the WTO: Why Does It Take So Long?. Open Economies Review. Vol: 24, Issue: 4, Page: 695-716. Springer New York LLC.
Gai, Y., Feng, L. (2012). Effects of Federal Nutrition Program on Birth Outcomes. Atlantic Economic Journal. Vol: 40, Issue: 1, Page: 61-83. Springer New York LLC.
Gai, Y. (2009). Investment in Nutrition: A Global View of Donations in Direct Nutrition Intervention. Journal of Development Alternatives and Area Studies. Vol: 28, Issue: 1, Page: 226-269.
Gai, Y. (2008). Pharmacist Consultation and Patient Medication Adherence. Pharmacy Practice. Vol: 6, Issue: 4, Page: 201-210.
Gai, Y., Bokhari , F., Gottret, P. (2007). Government Health Expenditures and Health Outcomes. Health Economics. Vol: 16, Issue: 3.
Gai, Y., Gu , N., Hay , J. (2007). The Effect of Pharmacist Consultation on Patient Medication Adherence: An Instrumental Variable Approach. Value in Health. Vol: 10, Issue: 3, Page: A184.

Cases and Teaching Notes

Gai, Y. (2015). Analyze Big Data Using SAS: An Interactive Goal-Oriented Approach. Page: 28. Babson College.

Book Chapters

Gai, Y., Bokhari , F., Gottret, P. (2006). Improving Health Outcomes: Health Financing Revisited: A Practitioner’s Guide. The World Bank .

Conference Proceedings

Gai, Y., Crocker, A., Brush, C.S., Glover, W.J. (2023). Multi-Stakeholder and Multi-Level Perspectives on Healthcare Innovation and Entrepreneurship: Multi-Stakeholder and Multi-Level Perspectives on Healthcare Innovation and Entrepreneurship. Vol: 2023, Issue: 1. Academy of Management. link
Way, M.M., Polutnik, L., Gai, Y. (2013). Return to Investment in a Full-time MBA Program: The Relative Value of Ability, Skill and Experience: Proceedings of the 40th Northeast Business & Economics Association Annual Conference.

Other

Gai, Y. (2007). Healthy Development: The World Bank Strategy for Health, Nutrition, and Population Results: report from Health, Nutrition, & Population (HNP) Sector, World Bank.

Articles - Circular or newsletter (e.g., Babson Insight)

Gai, Y. (2012). Applying Health Economics for Managerial Decision Making: Cost Minimizing and Incentive Creation: Babson Insight. Babson College.

Symposium on Healthcare Entrepreneurship Gai, Y. Glover, W. Crocker, A. Brush, C. Academy of management, Boston, Ma (2023)
How Healthcare Entrepreneurship Enhances Ecosystem Outcomes: The Relationship between Venture Capital-Funded Start-ups and County-Level Health Gai, Y. Glover, W. Crocker, A. Brush, C. Paper Development Workshop: Examining the Entrepreneurial Revolution in Healthcare, Naples, Italy (2023)
Adverse Selection in the Healthcare Market: A Classroom Experiment Staveley-O'Carroll, J. Gai, Y. 5th Babson Faculty Research Day, Babson College (2022)
Adverse Selection in the Healthcare Market: A Classroom Experiment Staveley-O'Carroll, J. Gai, Y. 10th Annual Conference on Teaching & Research in Economic Education (CTREE), Virtual (2021)
Hispanic-Serving Institutions and College Outcomes: Does Money Matter Li, F. MacDonald, L. Chih, Y. Gai, Y. the 90th Annual Meeting of the Southern Economic Association, Virtual Online Presentation Due to Covid19 (2020)
Hispanic-Serving Institutions and College Outcomes: Does Measurement Matter Li, F. MacDonald, L. Chih, Y. Gai, Y. the 29th Annual Conference of the Economics of Education Association, Cancelled Due to Covid19 (2020)
Hispanic-Serving Institutions and College Outcomes: Does Money Matter Li, F. MacDonald, L. Chih, Y. Gai, Y. the 95th Annual Conference of The Western Economic Association International (WEAI), Virtual Online Presentation Due to Covid19 (2020)
The Effect of Medical Marijuana Laws on Pain Relief Gai, Y. the 9th Annual Conference of the American Society of Health Economists, Washington D.C. (Note: cancelled due to COVID19) (2020)
Patterns of Populism and Trade Policy Openness Jones, K. Gai, Y. the 4th Babson Faculty Research Day, Babson College (2020)
Insurance Patterns and Instability from 2006 to 2016 Gai, Y. 8th Annual Conference of the American Society of Health Economists, Washington, DC (2019)
Effects of Medicaid Expansion on HIV Testing and Risk Behavior Gai, Y. The Chinese Economists Society 2019 Annual Conference, Dalian, China (2019)
The Medicare Hospital Readmissions Reduction Program: Consequences for Vulnerable and High-Risk Populations Gai, Y. Pachamanova, D. Babson Faculty Research Day, Wellesley, MA (2019)
The Medicare Hospital Readmissions Reduction Program: Consequences for Vulnerable and High-Risk Populations Gai, Y. Pachamanova, D. Babson Faculty Research Discussion, Wellesley, MA (2018)
Impacts of State-Mandated Reporting on Surgical Site Infection Gai, Y. The Chinese Economists Society 2018 Annual Conference, Hefei, China (2018)
Revenue Management in Nonprofits: A Case Study of an Adult Education Nonprofit Organization Polutnik, L. Gai, Y. Engelsted, I. Babson Research Day, Wellesley, MA (2018)
Discussant, “Do Competitors’ Quality Improvements Improve Own Quality? An Empirical Test of Florida Hospitals” Gai, Y. 84th International Atlantic Economic Conference, Montréal, Canada (2017)
Impact of State-Mandated Reporting on Surgical Site Infection in CABG Patients Gai, Y. 84th International Atlantic Economic Conference, Montréal, Canada (2017)
Revenue Management in Nonprofits: A Case Study of an Adult Education Nonprofit Organization Polutnik, L. Gai, Y. 84th International Atlantic Economic Conference, Montréal, Canada (2017)
Discussant, “Parents’ perceptions of endogenous risks to their own and their children's health” Gai, Y. 82nd International Atlantic Economic Conference, Washington D.C. (2016)
Impacts of Regional Unemployment Variation on Preventive Health Behavior: The Case of Flu Vaccination Gai, Y. Feng, L. 82nd International Atlantic Economic Conference, Washington D.C. (2016)
Local Labor Market Condition and Seasonal Flu Vaccination Gai, Y. Feng, L. International Health Economics Association 11th World Congress, Milan, Italy (2015)
Providing Immunization Services through Non-Traditional Settings in the United States Gai, Y. Feng, L. International Health Economics Association 11th World Congress, Milan, Italy (2015)
Compensation and Employment Impact of A Full-Time MBA Program Gai, Y. Way, M. Polutnik, L. 78th International Atlantic Economic Conference, Savannah, GA (2014)
Impact of Community Pharmacists and Pharmacies on Immunization Services in the U.S. Gai, Y. 78th International Atlantic Economic Conference, Savannah, GA (2014)
Return to Investment in a Full-time MBA Program: The Relative Value of Ability, Skill and Experience Way, M. Polutnik, L. Gai, Y. 40th Northeast Business & Economics Association Annual Conference, Bretton Woods, NH (2013)
Predicting Health Care Costs in Asthma Using the EQ-5D Index Score Gai, Y. Gu, N. Raisch, D. Wu, J. Hay, J. ISPOR 16th Annual European Congress, Dublin, Ireland (2013)
Patterns of Representation in WTO Committee Chairs: 1995-2012 Jones, K. Gai, Y. 76th International Atlantic Economic Conference, Philadelphia, PA (2013)
Supply of Family Physicians and Influenza Vaccination in the United States: Individual and Neighborhood Effects Gai, Y. Gu, N. Babson Faculty Research Chat, Babson Park, MA (2013)
Predicting healthcare costs in asthma using the EQ-5D health-related quality-of-life (HRQoL) index score with and without adjusting non-random positive spending using a US national representative population Gai, Y. Gu, N. Wu, J. Raisch, D. 2nd International Allergen Symposium on the Economics of Asthma and Allergies, Sydney, Australia (2013)
Supply of Family Physicians and Influenza Vaccination in the United States: Individual and Neighborhood Effects Gai, Y. Gu, N. 9th World Congress on Health Economics (iHEA), Sydney, Australia (2013)
Effect of Local Family Physician Supply on Influenza Vaccination Utilization after Controlling Individual and Neighborhood Factors Gai, Y. Gu, N. World Congress on Health Economics, Sydney, Australia (2013)
Predicting Asthma-Related Healthcare Costs Using The Eq-5d Index Score Gai, Y. Gu, N. World Congress on Health Economics, Sydney, Australia (2013)
Local Food Environment and Pre-School Obesity Gai, Y. Feng, L. European Conference on Health Economics , Zurich, Switzerland (2012)
Health Insurance and Self-Employment Gai, Y. 8th World Congress on Health Economics, Toronta, Canada (2011)
Effects of WIC Participation on Birth Outcomes: New Evidence from the Birth Cohort of the Early Childhood Longitudinal Study Program Gai, Y. Academy Health Annual Research Meeting, Seattle, WA (2011)
Employer-provided Health Insurance and Long-term Employment Choice Gai, Y. 2nd IZA Workshop on Entrepreneurship Research, Bonn, Germany (2011)
Higher Education and Job Market in the United States Gai, Y. , Shanxi University, Taiyuan, China (2011)
Employer-Provided Health Insurance and Long Term Employment Choice Gai, Y. IZA Workshop on Entrepreneurship Choice, Bonn, Germany (2011)
Will Universal Health Insurance Enhance Entrepreneurship Activity? Gai, Y. American Economic Association 126th Annual Conference, Denver, CO (2011)
Accession to the WTO: an Endurance Model Approach Jones, K. Gai, Y. Association for Global Business Conference, New Orleans, LA (2010)
Family Learning Environment on Early Literacy: Comparing Bilingual with Monoligual Children Gai, Y. Southern Economics Association 80th Annual Conference, Atlanta, GA (2010)
Will Universal Health Insurance Enhance Entrepreneurship Activity? Gai, Y. Southern Economics Association 80th Annual Conference, Atlanta, GA (2010)
Economic and Other Factors Affecting the Use of Prostate Cancer Screening in the US Gai, Y. 3rd Biennial American Society of health Economists Conference, (2010)
CEO Compensation and Firm Performance Gai, Y. Executive Compensation Roundtable, Millstein Center for Corporate governance and Performance of Yale School of Management (2010)
Survival and Financing of Black Owned Start-ups in the US Gai, Y. American Economic Association Annual Conference, Atlanta, GA (2010)
Association Between Insurance Gaps And Anti-Hypertension Medication Adherence In A National Representative Sample In The United States Gai, Y. 7th World Congress on Health Economics, Undisclosed (2009)
Association Between Insurance Gaps And Anti-Hypertension Medication Adherence In A National Representative Sample In The United States Gai, Y. ISPOR 14th Annual International Meeting, Undisclosed (2009)
Amaranth Advisors and Excessive Speculation in the Natural Gas Futures Market Marthinsen, J. Gai, Y. Loyola University, (2008)
Amaranth Advisors and Excessive Speculation in the Natural Gas Futures Market Gai, Y. Undisclosed , Chicago (2008)
Can Empirical Demand Models Assist in CON Comparative Reviews? A Case Study in Florida Gai, Y. 2nd Biennial American Society of Health Economists Conference, Undisclosed (2008)
An Empirical Analysis of the Certificate-Of-Need Comparative Review Gai, Y. Southern Economics Association 77th Annual Conference, Undisclosed (2007)
What does Willingness-To-Pay Reveal About Hospital Market Power in Merger Cases? Gai, Y. Babson College Research Chat, Wellesley, MA (2007)
Allocate Commercial Property for Small and Medium Business in Specific Crime Rate Area Gai, Y. Shen, M. Eighth West Lake International Conference on Small and Medium Business, Undisclosed (2007)
What does Willingness-To-Pay Reveal About Hospital Market Power in Merger Cases? Gai, Y. The DeVoe Moore Center Workshop, Tallahassee, FL (2006)
Reliability of New Empirical Models Measuring Hospital Market Power Gai, Y. Inaugural Conference of the American Society of Health Economists, Madison, Wisconsin (2006)
Government Health Expenditures and Health Outcomes Gai, Y. Southern Economics Association 75th Annual Conference, Washington, DC (2005)

Yunwei Gai

Academic Degrees

Academic Interest / Expertise

Awards & Honors

Courses

Publications