Experiment Center

Ökonomische Experimente – sei es im Labor oder im Feldversuch – stellen eine wertvolle Methode dar, um die Grundlagen, Mechanismen und Auswirkungen ökonomischer Entscheidungsfindung in finanziellen Belangen und in Finanzinstitutionen zu erforschen. Die Forscher:innen des SAFE Experiment Centers verwenden diese Methode, um Schlüsselfragen zu untersuchen, zum Beispiel in den Bereichen Household Finance, Corporate Finance oder Finanzmärkte. Experimente helfen, kausale Zusammenhänge zu identifizieren, "Verhaltensheterogenität" zu messen (zum Beispiel bezüglich ökonomischer Präferenzen oder Annahmen) sowie politische Akteure bei der Bewertung von Auswirkungen bestimmter Interventionen und Institutionen zu unterstützen.

Das SAFE Experiment Center ist eine Kooperation zwischen dem Leibniz-Institut für Finanzmarktforschung SAFE und dem Frankfurt Laboratory for Experimental Economic Research FLEX.


Publikationen

PubliziertTitelForscher/innenProgrammbereichKeywordsPubliziert
2021

Expl(AI)n It to Me – Explainable AI and Information Systems Research

Business & Information Systems Engineering
Kevin Bauer, Oliver Hinz, Christof Weinhardt, Wil van der Aalst Financial Intermediation, Experiment Center 2021
2019

Peer Effects and Risk Sharing in Experimental Asset Markets

European Economic Review
Sascha Baghestanian, Paul Gortner, Joël van der Weele Household Finance, Financial Markets, Experiment Center peer effects, laboratory experiments, risk taking, asset markets2019
2017

Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis

Journal of Financial Economics
Florian Hett, Alexander Schmidt Financial Intermediation, Transparency Lab, Experiment Center Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline2017
2017

Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis

Experimental Economics
Sascha Baghestanian, Paul Gortner, Baptiste Massenot Law and Finance, Experiment Center compensation, liquidity, experimental asset markets, bubbles2017
2017

Incentive-Based Capital Requirements

Management Science
Christian Eufinger, Andrej Gill Law and Finance, Transparency Lab, Experiment Center Basel III, capital regulation, compensation, leverage, risk2017
2017

Add-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education

Review of Finance
Michael Kosfeld, Ulrich Schüwer Household Finance, Experiment Center consumer education,financial literacy, bounded rationality, competition, regulation2017
2015

Performance Benefits of Tight Control

The Journal of Private Equity
Andrej Gill, Nikolai Visnjic Law and Finance, Transparency Lab, Experiment Center private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance2015
2015

Anchoring in Experimental Asset Markets

Journal of Economic Behavior & Organization
Sascha Baghestanian, Todd B. Walker Financial Markets, Experiment Center Experimental Asset Markets, Anchoring, Bubbles2015

Working Papers

TitelForscher/innenNr.ProgrammbereichJahrKeywordsPubliziert

Incentives, Self-Selection, and Coordination of Motivated Agents for the Production of Social Goods

Kevin Bauer, Michael Kosfeld, Ferdinand von Siemens318 Financial Intermediation, Experiment Center 2021incentives, intrinsic motivation, self-selection, public service Jul 2021

Expl(AI)ned: The Impact of Explainable Artificial Intelligence on Cognitive Processes

Kevin Bauer, Oliver Hinz, Moritz von Zahn315 Financial Markets, Experiment Center 2021XAI, explainable machine learning, Information Processing, Belief up-dating, algorithmic transparency Jun 2021

Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies

Kevin Bauer, Andrej Gill313 Financial Intermediation, Experiment Center 2021Algorithmic transparency, algorithmic decision support, human–machine interaction Apr 2021

Motivated Beliefs and the Elderly’s Compliance with COVID-19 Measures

Ferdinand von Siemens299 Law and Finance, Experiment Center 2021motivated beliefs; compliance behavior; age; health; COVID-19 Jan 2021

The Economic Consequences of Algorithmic Discrimination: Theory and Empirical Evidence

Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Kosfeld, Nicolas Winfried Pfeuffer287 Financial Intermediation, Experiment Center 2020 Algorithmic Discrimination, Artificial Intelligence, Game Theory, Economics, Batch Learning Sep 2020

Belief Formation and Belief Updating under Ambiguity: Evidence from Experiments

Wenhui Li, Christian Wilde251 Financial Markets, Experiment Center 2019ambiguity, learning strategy, belief updates, non-Bayesian updates, pessimism, laboratory experiments Jun 2019

Leverage and Bubbles: Experimental Evidence

Paul Gortner, Baptiste Massenot239 Macro Finance, Experiment Center 2018 Dez 2018

Pushing Through or Slacking Off? Heterogeneity in the Reaction to Rank Feedback

Florian Hett, Felix Schmidt203 Household Finance, Experiment Center 2018heterogeneity, competitiveness; contest; rank feedback, relative performance evaluation Apr 2018

Reputation, Honesty, and Cheating in Informal Milk Markets in India

Markus Kröll, Devesh Rustagi134 Law and Finance, Experiment Center 2016Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India Jan 2016

Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis

Sascha Baghestanian, Paul Gortner, Baptiste Massenot108 Law and Finance, Experiment Center 2015compensation, liquidity, experimental asset markets, bubbles Jan 2015

Credit Cycles: Experimental Evidence

Sascha Baghestanian, Baptiste Massenot104 Macro Finance, Experiment Center 2015- Jan 2015

Peer Effects and Risk Sharing in Experimental Asset Markets

Sascha Baghestanian, Paul Gortner, Joël van der Weele67 Household Finance, Financial Markets, Experiment Center 2014peer effects, laboratory experiments, risk taking, asset markets Jan 2014

Measuring Ambiguity Aversion: A Systematic Experimental Approach

Jan Pieter Krahnen, Peter Ockenfels, Christian Wilde55 Financial Intermediation, Financial Markets, Transparency Lab, Experiment Center 2014ambiguity, valuation discount, experimental economics Jan 2014

Anchoring in Experimental Asset Markets

Sascha Baghestanian, Todd B. Walker54 Financial Markets, Experiment Center 2014Experimental Asset Markets, Anchoring, Bubbles Jan 2014

Add-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education

Michael Kosfeld, Ulrich Schüwer47 Household Finance, Experiment Center 2014consumer education,financial literacy, bounded rationality, competition, regulation Jan 2014

Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis

Florian Hett, Alexander Schmidt36 Financial Intermediation, Transparency Lab, Experiment Center 2013Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline Jan 2013

Performance Benefits of Tight Control

Andrej Gill, Nikolai Visnjic24 Law and Finance, Transparency Lab, Experiment Center 2013private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance Jan 2013

Insight Private Equity

Andrej Gill, Nikolai Visnjic23 Law and Finance, Transparency Lab, Experiment Center 2013private equity, leveraged buyouts, active shareholders, corporate restructuring, operational performance Jan 2013

Incentive-Based Capital Requirements

Christian Eufinger, Andrej Gill9 Law and Finance, Transparency Lab, Experiment Center 2013Basel III, capital regulation, compensation, leverage, risk Jan 2013

Policy Papers

JahrTitelForscher/innenProgrammbereichKeywordsJahr
Jul 2018

Measuring Time Inconsistency Using Financial Transaction Data

Andrej Gill, Florian Hett, Johannes Tischer Household Finance, Experiment Center financial transaction data, financial decision-making, time inconsistency, present bias Jul 2018
Sep 2017

Undermined Market Discipline: The Role of Bank Rescues and Bailout Expectations

Florian Hett, Johannes Kasinger Financial Intermediation, Experiment Center bailout, market discipline, financial institutions, financial crisis, banks Sep 2017

Forschungsprojekte

KategorieProjektForscher/innenProjektdauerKeywordsProjekt IDPublication Count
Household Finance, Experiment Center

Experimental Evidence on Socially Responsible Investments – The Role of Preferences and Information

Fabian Braun, Andrej Gill, Florian Hett2021ESG; SRI; endogenous information acquisition; incentives; social preferences2324071
Household Finance, Experiment Center

Statistical Discrimination Revisited – The Role of Motivated Reasoning

Markus Eyting2021discrimination, motivated reasoning, beliefs, information2324061
Experiment Center

Developing Reliable and Globally Valid Measures for Economic Preferences – Worldwide Testing of the Global Preference Survey Module

Michael Kosfeld, Zahra Sharafi-Avarzaman, Maíra Sontag González, Na Zou20212381011
Financial Markets, Experiment Center

(Tho)roughly Explained: The Impact of Algorithmic Transparency on Beliefs and Human Decision Making

Kevin Bauer20202323011
Household Finance, Experiment Center

Social Identity Bias in Information Processing and Information Demand

Kevin Bauer, Yan Chen, Florian Hett, Michael Kosfeld20202324051
Household Finance, Experiment Center

Experiential Learning Through FinTech Applications

Andrej Gill, Florian Hett2020experiential learning, goal setting, personal finance management, financial literacy, overconfidence2324041
Household Finance, Experiment Center

Collective Action and Institution Formation - The Role of Group Size

Julian Detemple, Michael Kosfeld20202324031
Household Finance, Experiment Center

Moral (Mis)Behavior in the Era of Big Data

Victor Klockmann, Marie-Claire Villeval, Alicia von Schenk20202324021
Household Finance, Experiment Center

Moral Decisions and the Externality of AI Usage

Victor Klockmann, Marie-Claire Villeval, Alicia von Schenk20202324011
Financial Intermediation, Experiment Center

Digitalization of the Financial System

Kevin Bauer, Oliver Hinz2020Digital economics; Artificial intelligence; Human machine interaction; Algorithmic Unfairness; Hybrid human-machine behavior; Algorithms; Machine Learning, Decision Making;1231011
Financial Intermediation, Experiment Center

Mirror, Mirror in the Wall: Algorithmic Assessments and Self-Fulfilling Prophecies

Kevin Bauer, Andrej Gill20201
Financial Markets, Experiment Center

Experimental Asset Markets - Price Formation in the Presence of Ambiguity

Wenhui Li, Peter Ockenfels, Christian Wilde2019Experimental asset markets, information transmission, price formation, ambiguity1331021
Household Finance, Experiment Center

Using Behavioral Experiments to Capture Time Inconsistency in Households Financial Decision Making

Andrej Gill, Florian Hett2019financial mistakes, transaction data, household finance, time-inconsistency, present bias, time preferences, online experiment, preference heterogeneity213371
Financial Intermediation, Experiment Center

In or Out? In-Group Bias in Diverse Social Environments

Kevin Bauer, Florian Hett2018Overlapping group affiliations; Pro-social behavior; Ingroup bias; Diversity management1
Household Finance, Experiment Center

Heterogeneity in the Sensitivity to Dynamic Incentives

Florian Hett, Felix Schmidt2018Peer Effects, Laboratory Experiments, Experimental Finance, Tournaments, Behavioral Finance, Rank Incentives213291
Law and Finance, Experiment Center

Gender Diversity, Decision Rules, and the Risk Appetite of Teams

Renée Adams, Andreas Grunewald, Ferdinand von Siemens2017Corporate Boards, Gender Diversity, Risk Taking, Banking, Teams212231
Household Finance, Experiment Center

Financial Decision Making and Present Bias

Andrej Gill, Florian Hett, Johannes Tischer2017financial mistakes, transaction data, household finance, time-inconsistency, present bias, time preferences, online experiment, randomized controlled trial, preference heterogeneity, commitment devices, nudging213211
Financial Intermediation, Experiment Center

Measuring Time Inconsistency by Using Bank Account Data

Andrej Gill, Florian Hett2016financial mistakes, transaction data, household finance, time-inconsistency, present bias, time preferences216401
Household Finance, Experiment Center

Financial Networks in the Field

Paul Gortner, Joël van der Weele2016216501
Financial Markets, Experiment Center

Experimental Asset Markets – Regulation and Design of Fragmented Markets

Peter Ockenfels, Christian Wilde2016216201
Financial Intermediation, Experiment Center

Financial Interactions in the Presence of Ambiguity

Wenhui Li, Peter Ockenfels, Christian Wilde2016216501
Financial Intermediation, Law and Finance, Financial Markets, Macro Finance, Experiment Center

Capital Requirements and Financial Stability: Experimental Evidence

Paul Gortner, Baptiste Massenot2016216501
Financial Intermediation, Experiment Center

Banking Structure and Dynamics of Small and Medium Sized Enterprises

Douglas Cumming, Christian Eufinger, Andrej Gill, David Heller, Jan Krzyzanowski, Uwe Walz2016216401

Aktuelles Forschungsteam

ForscherPosition
Bauer, Kevin Advanced Researcher
Gill, Andrej External Researcher
Hett, Florian External Researcher
Klockmann, Victor External Researcher
Kosfeld, Michael Senior Researcher, SAFE Fellow
Laudenbach, Christine External Researcher
Ockenfels, Peter Senior Researcher, SAFE Fellow
Poensgen, David External Researcher
Sabet, Navid External Researcher
von Schenk, Alicia External Researcher
von Siemens, Ferdinand External Researcher, SAFE Fellow
Wilde, Christian External Researcher, Research Affiliate