Klaus M. Schmidt (born 16 June 1961) [1] is a German economist who currently works as Professor of Economics at the University of Munich (LMU). [2] His research focuses on behavioural economics, game theory and contract theory. [3] In 2001, Schmidt was awarded the Gossen Prize in recognition for his contributions to economic research on game theory, contract theory, and the economics of fairness. [4] He is a member of the council for the Lindau Nobel Laureate Meetings. [5]
Klaus Schmidt has studied at the University of Hamburg and at the University of Bonn. He completed his doctoral program at the University of Bonn in 1991. Since his habilitation in 1995, he has been working as a professor of economics at the University of Munich. He has held visiting appointments at Harvard University, University of California, Berkeley, MIT, Stanford University and Yale University. [6]
The research interests of Klaus Schmidt include contract theory, game theory, behavioural economics, experimental economics, industrial organization, competition policy, privatization, auction theory, venture capital, and political economy. [7] In his research, he has frequently collaborated with Ernst Fehr. According to IDEAS/RePEc, Schmidt belongs to the top 1% of economists as ranked by research output. [8]
thesis, submitted to the Faculty of Law and Economics at the University of Bonn, October 1994
dissertation, submitted to the Faculty of Law and Economics at the University of Bonn, July 1991.
Inequity aversion (IA) is the preference for fairness and resistance to incidental inequalities. The social sciences that study inequity aversion include sociology, economics, psychology, anthropology, and ethology.
Ernst Fehr is an Austrian-Swiss behavioral economist and neuroeconomist and a Professor of Microeconomics and Experimental Economic Research, as well as the vice chairman of the Department of Economics at the University of Zürich, Switzerland. His research covers the areas of the evolution of human cooperation and sociality, in particular fairness, reciprocity and bounded rationality.
Justice in economics is a subcategory of welfare economics. It is a "set of moral and ethical principles for building economic institutions". Economic justice aims to create opportunities for every person to have a dignified, productive and creative life that extends beyond simple economics.
Herbert Gintis was an American economist, behavioral scientist, and educator known for his theoretical contributions to sociobiology, especially altruism, cooperation, epistemic game theory, gene-culture coevolution, efficiency wages, strong reciprocity, and human capital theory. Throughout his career, he worked extensively with economist Samuel Bowles. Their landmark book, Schooling in Capitalist America, had multiple editions in five languages since it was first published in 1976. Their book, A Cooperative Species: Human Reciprocity and its Evolution was published by Princeton University Press in 2011.
Strong reciprocity is an area of research in behavioral economics, evolutionary psychology, and evolutionary anthropology on the predisposition to cooperate even when there is no apparent benefit in doing so. This topic is particularly interesting to those studying the evolution of cooperation, as these behaviors seem to be in contradiction with predictions made by many models of cooperation. In response, current work on strong reciprocity is focused on developing evolutionary models which can account for this behavior. Critics of strong reciprocity argue that it is an artifact of lab experiments and does not reflect cooperative behavior in the real world.
Armin Falk is a German economist. He has held a chair at the University of Bonn since 2003.
Robert Klaus Freiherr von Weizsäcker is a German economist and honorary president of the German Chess Federation. He has held the Chair of Economics, Public Finance and Industrial Organization at Technical University of Munich. He is the eldest son of the late former German President Richard von Weizsäcker (1920–2015).
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. Social preferences are studied extensively in behavioral and experimental economics and social psychology. Types of social preferences include altruism, fairness, reciprocity, and inequity aversion. The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's altruism, fairness and reciprocity concern between 1990 and 2010. More recently, there are growing amounts of field experiments that study the shaping of social preference and its applications throughout society.
Klaus Felix Zimmermann is a German economist and emeritus professor of economics at Bonn University. Additionally, he is an honorary professor at Maastricht University, the Free University of Berlin and the Renmin University of China as well as president of the Global Labor Organization. His research interests include population, labour, development and migration, with Zimmermann being among the leading economists on the topic of migration.
Ludger Wößmann is a German economist and professor of economics at the Ludwig Maximilian University of Munich (LMU). Moreover, being one of the world's foremost education economists, he is the director of the ifo Center for the Economics of Education at the ifo Institute. Beyond the economics of education, his research interests also include economic growth and economic history. In 2014, Wößmann's empirical research on the effects of education and his corresponding contribution to public debate were awarded the Gossen Prize, followed by the Gustav Stolper Prize in 2017.
Urs Fischbacher is a Swiss economist and professor of applied economic research at the University of Konstanz. He is director of the Thurgau Economic Institute, an affiliated institute of the University of Konstanz. He pioneered the field of software tools for experimental economics.
Uwe Sunde is a German economist and currently Professor of Economics at the Ludwig Maximilian University of Munich (LMU) as well as a Research Professor in the ifo Center for Labour and Demographic Economics. Sunde's research interests include long-term development and growth, political economy, labour economics, population economics, and behavioural economics. In 2015, his research on risk preferences and on the role of life expectancy and human capital for long-term economic development earned him the Gossen Prize.
Georg Nöldeke is an economist and currently serves as Professor of Economics at the University of Basel. His research interests focuses on microeconomic theory, game theory, and social evolution. In 2007, Georg Nöldeke's contributions to economics of information - in particular on the communication within financial markets - as well as to game theory and contract theory were awarded the Gossen Prize by the German Economic Association.
Felix Kübler is a German economist who currently works as Professor of Financial Economics at the University of Zurich. His research interests include computational economics, general equilibrium theory and portfolio choice. In 2012, he was awarded the Gossen Prize in recognition of his contributions to economic research.
Peter H. Egger is an Austrian economist who currently works as Professor of Applied Economics at the ETH Zurich. His research areas are industrial economics, innovation and international competition. In 2011, his contributions to economic research were awarded the Gossen Prize.
Benny Moldovanu is a German-Israeli economist who currently holds the Chair of Economic Theory II at the University of Bonn. His research focuses on applied game theory, auction theory, mechanism design, contests and matching theory, and voting theory. In 2004, Moldovanu was awarded the Gossen Prize for his contributions to auction theory and mechanism design.
Frédéric Docquier is a Belgian economist and Professor of Economics at the Catholic University of Louvain (UCLouvain). He ranks as one of the leading economists in the field of international migration, with a focus on brain drain and skilled migration.
Oded Stark is an economist and Distinguished Fellow at the Center for Development Research, University of Bonn, Distinguished Professor at the University of Warsaw, and Adjunct Professor at the University of Tuebingen.
Karsten Fischer is a German political scientist and a historian of political ideas. He is a Professor of Political Theory at University of Munich.
Monika Schnitzer is a German economist and chair of comparative economic research at the Ludwig Maximilian University of Munich. She was the president of the Verein für Socialpolitik from 2015 to 2016 and is the chairwoman of the German Council of Economic Experts since 2022.