The Alfred-Weber-Institute houses the University of Heidelberg Economics Department. The department is part of the Faculty of Economics & Social Sciences, which also includes the departments of Political Science and Sociology.
Funding for research on macroeconomic expectations
AWI Researchers were successful in obtaining grants from the German Science Foundation in the framework of the Priority Program Experience & Expectation: Historical Foundations of Economic Behaviour. Zeno Enders will work on the project "Determinants and effects of business expectations in Germany after 1980" (jointly with Gernot Müller of the University of Tübingen). Christian Conrad, Jonas Dovern, and Fabian Krüger will jointly work on the project "Heterogeneity in macroeconomic expectations: the role of individual historical experiences, local conditions, and socio-economic characteristics."
Jonas Dovern accepted full professorship in Erlangen-Nürnberg
Jonas Dovern will take over the Chair for Statistics and Econometrics at Friedrich-Alexander University Erlangen-Nürnberg (FAU) as of April 1, 2019. Jonas has been an assistant professor in macroeconomics at Heidelberg since 2014. More information about his research, centered around questions of macroeconomic forecasting and beliefs, can be found here.
Workshop on the Macroeconomics of International Financial Markets
Together with researchers of the University of Tübingen and University of Hohenheim, Zeno Enders organized a workshop on International Financial Markets on December 7 & 8, 2018. Detailed information on the workshop and access to the papers presented at the workshop is available here.
Dissertation Fellowship of the German Academic Scholarship Foundation
Matthias Quinckhardt of the Chair for Labor Economics has been awarded a dissertation fellowship by the German Academic Scholarship Foundation (Studienstiftung des Deutschen Volkes). The foundation will support Matthias’ doctoral research into the political economy of regional policies. Information on Matthias’ research can be found here.
Committee on Compliance in Norwegian Fisheries
Florian Diekert has been appointed a member of the expert committee of the Norwegian government studying compliance in Norwegian fisheries. The committee gives recommendations on how to improve the efficacy and efficiency of monitoring efforts, in particular in light of the opportunities and challenges that new technologies bring. More information is available here.
Weatherall Fellowship at Queens University in Canada
Jürgen Eichberger was awarded a Weatherall Fellowship at Queens University in Canada. In the context of his fellowship, he presented the study “Decision Theory with a State of Mind Represented by an Element of a Hilbert Space: The Ellsberg Paradox,“ and gave a mini-course on game theory with strategic ambiguity for graduate students and research staff. More information is available here.
Professorship in Environmental, Climate and Development Economics
Andreas Fuchs was appointed Professor for Environmental, Climate and Development Economics at the Helmut Schmidt University Hamburg jointly with the Kiel Institute for the World Economy (IfW). He was a post-doc at the AWI from 2013 to 2018. More information on Andreas’ research and on the activities in the context of his new position can be found here.
ICAP Best Paper Award
Karlijn van den Broek received the best paper award of the International Conference on Applied Psychology and Human Behavior for her work on the MultiTip project, a collaboration between environmental economists, psychologists and mathematicians. The paper proposes a stakeholder engagement framework to develop sustainable-behavior research, illustrated through a case study of stakeholder engagement at Lake Victoria, East Africa. More information on the conference can be found here, information on Karlijn’s work can be found here.
International Conferences on Finance and Risk Hosted by the AWI
The AWI hosts two international conferences dealing with financial decision making in the presence of uncertainty in June 2018. The Risk, Uncertainty and Decision (RUD) conference takes place from June 14 to June 16. The conference focusses on theoretical analyses of uncertainty. Detailed information is available here. The Experimental Finance 2018 (EF2018) conference is held from June 20 to June 22. The conference focusses on experimental studies of asset markets and investments decisions. Detailed information is available here.
International Ranking of Economics Departments
The 2018 Tilburg University Economics Schools Research Ranking puts the Alfred-Weber-Institute on rank 135 worldwide. The ranking is based on publications in the most prestigious international economics journals in the period 2013 through 2017, and does not discount for department size. Among the 70 ranked German universities, the Alfred-Weber-Institute is ranked 6th. More information on the ranking can be found here.
Friedrich Heinemann will give a presentation and participate in the debate at the ZEW Lunch Debate Series "Economic Recovery in Europe" on "Reforming the Eurozone: Prospects and Challenges" in Brussels on Wednesday, 2 May 2018. The ZEW Lunch Debate series provides a politically neutral platform for inspiring and spirited exchange on current challenges facing Europe. More information can be found in the flyer.
PhD Scholarship by the Friedrich-Ebert-Foundation
AWI doctoral student Christoph Becker has been awarded a scholarship by the Friedrich-Ebert-Foundation. Starting April 1, 2018, the foundation will support Christoph’s doctoral research into the role of information collection in financial decision-making under uncertainty. Information on Christoph’s research can be found here.
Illia Pasichnichenko (National Technical University of Ukraine, Kiew) has been awarded a research grant by the Alexander von Humboldt Foundation to conduct research at the AWI for 18 months.
Book Publications on Governance in Private Equity
Former AWI students Jonas Bannasch and Pascal Kleinmann (now Bocconi University Milano) were invited to publish their Bachelor theses on the topic of corporate governance issues in private equity and start-up financing in a book series of the German Association for Alternative Investments (BAI). Information is available here (Bannasch) and here (Kleinmann).
Advisory Committee for Risk Research and Risk Perception
Stefan Trautmann has been reappointed to the Advisory Committee for Risk Research and Risk Perception of the German Federal Institute for Risk Assessment (BfR). Having served the committee from 2014 to 2017, the new appointment runs from 2018 to 2021.
Personality and economic interactions
People’s intelligence and personality can have important implications for their economic interactions. Andis Sofianos and his colleagues from the UK and the US study how such traits affect group outcomes in repeated cooperation settings. They find that intelligence helps groups to identify profitable strategies, and to follow these strategies consistently when distracted by short-term gains that are costly in the long term. Importantly, they show that the difference in behavior across intelligence groups is not due to different attitudes towards social cooperation, but rather due to differences in learning from the experienced outcomes in the interactive settings. The results have important implications for team composition, as well as broader implications for how personality traits affect economic interactions in society. The results will be published in the Journal of Political Economy. Details and materials can be found on Andis’ website.
12th HeiKaMaX Workshop
On October 18th, the 12th HeiKaMaX experimental Workshop took place in Heidelberg, bringing together experimental economists from the Universities of Heidelberg, Mannheim and Karlsruhe. The workshop included work on bargaining, information disclosure, and decision making under uncertainty, among others. Details can be found here.
Market index for cryptocurrencies
Cryptocurrencies (like Bitcoin for example) have recently received much attention, with their prices gaining momentum lately. Joining a competition on the design of market indices for such currencies organized by Lykke.com marketplace, Onno Kleen and Christopher Zuber proposed a market index to be the weighted average of the 20 largest cryptocurrencies' market capitalization. The purpose of their index is to closely follow the value of cryptocurrencies, and to reflect both short-term movements and long-term trends. They address cryptocurrency-specific challenges as, for example, distinct market behavior around currency splits. They also suggest tracking the index composition in real time, which is not done in typical asset price indices. For their technical paper, they were awarded the first prize in the competition. Their paper can be found here. Further information on the competition can be found here.
New Assistant Professors
The AWI welcomes Liza Charroin (Lyon, Group Decisions and Networks), Andis Sofianos (Warwick, Behavioral Economics), and Christopher Kops (Cologne, Decision Theory) as new assistant professors in economics. All three have their offices in the Bergheimer Strasse 58, and look forward to interaction with students and faculty.
HeiKaMEtrics Inaugural Conference
The inaugural conference of the HeiKaMEtrics Network on Financial Econometrics took place at the International Academic Forum Heidelberg on September 14-15, 2017. The opening of the HeiKaMEtrics Network was celebrated with the HeiKaMEtrics Lecture in memory of Emil J. Gumbel held by Professor Eric Ghysels (University of North Carolina, Chapel Hill) in the Alte Aula of Heidelberg University. For more Information on the HeiKaMEtrics Network see: www.heikametrics.de
Handelsblatt Ranking of Economics Departments
In the 2017 Handelsblatt Ranking of Economics Departments in Germany, Switzerland, and Austria, the AWI ranks 11th. In the previous rankings in 2013 and 2015 ranked 12th and 10th, respectively. In the underlying ranking of individual researchers, Axel Dreher and Stefan Trautmann are placed within the top 100 out of approximately 3000 ranked researchers in economics, at ranks 60 and 90.
AWI Assistant Professors accept Professorships in Erlangen-Nuremburg and Berlin
Christine Binzel will move to a full professorship for economics with a focus on the Middle East at the University of Erlangen-Nuremberg as of October 1st. Israel Waichman accepted a full professorship at Bard College Berlin, a liberal arts college. He will start his new appointment in fall 2017.