Li joined the University of Arkansas in 2018 and leads the behavioral lab at the Walton College of Business.
The political economist will join the institution in July 2024 from the University of California, San Diego.
Ben Harris will start work on Aug. 14 and lead the nonprofit’s economic studies program.
The economist is currently the Neil Moskowitz Professor of Economics and Finance at the University of Maryland.
Chang-Tai Hsieh, Lubos Pastor, Robert Shimer, William Hubbard and Scott Ashworth receive new appointments.
The Yale University business school has also promoted five members of academic staff, effective July 1.
Behavioral economist Johannes Haushofer joined the institution this month as Goh Keng Swee Professor of Economics.
The Yale School of Management professor will take public service leave from the university while serving in the role.
Vig joins Stanford Graduate School of Business from Northwestern University, where he was a professor of finance.
The economics professor continues to lead the independent body.