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Willkommen am Lehrstuhl für Behavioral Finance Prof. Dr. Stefan Trautmann

Research Interests

Financial decisions under risk & uncertainty; social preferences and ethics; psychology of economic behavior

For a short bio see here. For a group of all researchers at the AWI in Heidelberg who work on experimental economics and finance see here. For data, instructions, and online appendices, consult the AWI Experimental Economics data repository. 

 

Recent Contributions

Trautmann, S. T. and C. Conrad (2019). Book Review: A Crisis of Beliefs – Investor Psychology and Financial Fragility, by Nicola Gennaioli and Andrej Shleifer. Journal of Economic Psychology, forthcoming.

Trautmann, S.T. (2019). Distance from a Distance: The Robustness of Psychological Distance Effects. Theory and Decision 87, 1–15.

Becker, C., I. Kirchmaier, and S. T. Trautmann (2019). Marriage, Parenthood and Social Network: Subjective Well-Being and Mental Health in Old Age. PLOS ONE 14, e0218704. [Covered by: CNN, The Independent, Daily Mail, The Times, New Scientist, The Guardian, Spiegel Online, De Morgen, Fatherly, ntv, FAZ, Zeit Online, Welt, Focus Online, Süddeutsche Zeitung]

Kocher, M., D. Schindler, S. T. Trautmann and Y. Xu (2019). Risk, Time Pressure, & Selection Effects. Experimental Economics 22, 216–246.

Dengler, S., R. Gerlagh, S. T. Trautmann, and G. van de Kuilen (2018). Climate Policy Commitment Devices. Journal of Environmental Economics and Management 92, 331–343.

König-Kersting, C. and S. T. Trautmann (2018). Countercyclical Risk Aversion:  Beyond Financial Professionals. Journal of Behavioral and Experimental Finance 18, 94–101.

Kirchmaier, I., J. Prüfer, and S. T. Trautmann (2018). Religion, Moral Attitudes, and Economic Behavior. Journal of Economic Behavior and Organization 148, 282–300. [Online Appendix]

Kocher, M. G., A. Lahno, and S. T. Trautmann (2018). Ambiguity aversion is not universal. European Economic Review 101, 268–283.

Trautmann, S.T., and G. van de Kuilen (2018). Higher Order Risk Attitudes: A Review of Experimental Evidence. European Economic Review 103, 108–124.

Trautmann, S.T., and P.P. Wakker (2018). Making the Anscombe-Aumann approach to ambiguity suitable for descriptive applications.  Journal of Risk and Uncertainty 56, 83–116.  

Nicht jeder wünscht sich einen Staat der stupst. Interview, BfR2GO 1/2018, June 2018, 20–21.  (Not everyone wants a state that nudges [English edition Bfr2Go])

 

Selected Publications [list of all publications]

Brown, M., S.T. Trautmann, and R. E. Vlahu (2017). Understanding Bank-Run Contagion. Management Science 63, 2272–2282.

Trautmann, S. T., and G. van de Kuilen (2015). Belief Elicitation: A Horse Race among Truth Serums. Economic Journal 125, 2116-2135.

Trautmann, S. T., and G. van de Kuilen (2015). Ambiguity Attitudes. In: G. Keren and G. Wu (eds.), The Wiley Blackwell Handbook of Judgment and Decision Making, Blackwell, Chapter 3, 89-116.

Noussair, C.N., S.T. Trautmann, and G. van de Kuilen (2014). Higher Order Risk Attitudes, Demographics, and Financial Decisions. Review of Economic Studies 81, 325−355.

Trautmann, S. T., G. van de Kuilen, and R. J. Zeckhauser (2013). Social Class and (Un)ethical Behavior: A Framework, With Evidence From a Large Population Sample. Perspectives on Psychological Science 8, 487–497.

Sutter, M., M. Kocher, D. Rützler, and S. T. Trautmann (2013). Impatience and Uncertainty: Experimental Decisions Predict Adolescents’ Field Behavior. American Economic Review 103, 510–531.

Kocher, M., J. Pahlke, and S. T. Trautmann (2013). Tempus Fugit: Time Pressure in Risky Decisions. Management Science 59, 2380–2391.

Boksem, M.A.S, P.H. Mehta, B. van den Bergh, V. van Son, S. T. Trautmann, K. Roelofs, A. Smids, and A. G. Sanfey (2013). Testosterone Inhibits Trust, But Promotes Reciprocity. Psychological Science 24, 2306–2314.

Trautmann, S. T., F. M. Vieider and P. P. Wakker (2011). Preference Reversals for Ambiguity Aversion. Management Science 57, 1320–1333.

 

Working papers

Becker, C. K., E. Ert, S. T. Trautmann, and G. van de Kuilen (2019). Experiencing Risk: Higher-order Risk Attitudes in Description- and Experience-based Decisions [paper]

Fehr, D., H. Rau, S. T. Trautmann, and Y. Xu (2019). Inequality, Fairness and Social Capital. [paper] [see discussion by Ulyces Science]

Kling, L., C. König-Kersting, and S. T. Trautmann (2019). Investment Preferences and Risk Perception: Financial Agents versus Clients. [paper]

König-Kersting, C., M. Pollmann, J. Potters, and S. T. Trautmann (2017). Good decision vs. good results: Outcome bias in the evaluation of financial agents. [paper]

König-Kersting, C., C. Kops, and S.T. Trautmann (2019). A Test of (Weak) Certainty Independence. [paper]

Schmidt, R. and S. T. Trautmann (2019). Implementing (Un)fair Procedures? Favoritism and Process Fairness when Inequality is Inevitable. [paper]

 

Other Activities

Academic editor, PLOS ONE, 2018-

Associate editor, Journal of Behavioral and Experimental Finance, 2016-

Associate editor, Journal of Economic Psychology, 2015-

Associate editor, Management Science, 2014-

Associate editor, Journal of Behavioral and Experimental Economics (formerly Journal of Socio-Economics), 2013-

Scientific Board, Society for Experimental Finance

NWO-Rubicon, Selection Committee 2016

ATTRACT, Selection Committee 2018

German Federal Institute for Risk Assessment (BfR), Advisory Committee for Risk Research and Risk Perception, 2014-2017, 2018-2021

Liaison Professor, German National Merit Foundation (Studienstiftung des dt. Volkes), 2018-

Member of the academic Senate of the University of Heidelberg, 2019-2023

 

Grants & Awards

DFG 2016-2018: Ambiguity attitudes

NWO-Veni 2010-2013: Higher order risk attitudes

Pierson medal 2012 of the Dutch Economic Association (KVS)

 

Recent Workshops and Conferences in Heidelberg

Workshop on Experimental Economics and Finance, November 2019, [program]

Workshop on Behavioral and Experimental Finance, December 2018, [program]

Society for Experimental Finance (EF2018), June 20-22, 2018, (with Christian König-Kersting and Matthias Stefan)

Risk, Uncertainty and Decision (RUD), June 14-16, 2018 (with Jürgen Eichberger and Christopher Kops)

Behavioral Finance for Policy and Regulation, July 6-9, 2017 (with Sebastian Ebert) [workshop report]

Economic Science Association (ESA), European Meeting, September 2-5, 2015 (with Christoph Brunner, Peter Dürsch, Jörg Oechssler, Christiane Schwieren, and Christoph Vanberg) [slides of Keynotes by Adele Diamond, Ulrike Mamendier, and Mike Tomasello]

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Letzte Änderung: 18.11.2019
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