Experiment Center
Economic experiments – be it in the lab or the field – provide a valuable method to explore the foundations, mechanisms, and implications of economic decision-making in financial contexts and institutions. Researchers at the SAFE Experiment Center use this method to study key questions, for example, in household finance, corporate governance, or financial markets. Experiments help to identify causal relations, measure “behavioral heterogeneity” (e.g., in economic preferences or beliefs), as well as assist policymakers in evaluating the effects of particular interventions and institutions.
The SAFE Experiment Center is a collaboration between the Leibniz Institute for Financial Research SAFE and the Frankfurt Laboratory for Experimental Economic Research FLEX.
Publications
| Author/s | Title | Program Area | Type | Published | Keywords |
|---|---|---|---|---|---|
| Peter Andre | Shallow Meritocracy SAFE Working Paper No. 405 | Household Finance, Experiment Center | SAFE Working Paper | 2023 | |
| Peter Andre, Philipp Schirmer, Johannes Wohlfart | Mental Models of the Stock Market SAFE Working Paper No. 406 | Household Finance, Financial Markets, Experiment Center | SAFE Working Paper | 2023 | |
| Julian Detemple, Michael Kosfeld | Fairness and Inequality in Institution Formation SAFE Working Paper No. 402 | Household Finance, Experiment Center | SAFE Working Paper | 2023 | |
| Kevin Bauer, Oliver Hinz, Michael Kosfeld, Lena Liebich | Decoding GPT’s Hidden ‘Rationality’ of Cooperation SAFE Working Paper No. 401 | Household Finance, Experiment Center | SAFE Working Paper | 2023 | large language models, cooperation, goal orientation, economic rationality |
| Kevin Bauer, Oliver Hinz, Moritz von Zahn | Please Take Over: XAI, Delegation of Authority, and Domain Knowledge SAFE Working Paper No. 394 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2023 | |
| Michael Kosfeld, Zahra Sharafi | The Preference Survey Module: Evidence on Social Preferences from Tehran SAFE Working Paper No. 393 | Household Finance, Experiment Center | SAFE Working Paper | 2023 | |
| Victor Klockmann, Marie Claire Villeval, Alicia von Schenk | Artificial Intelligence, Ethics, and Intergenerational Responsibility Journal of Economic Behavior & Organization | Household Finance, Experiment Center | Published Paper | 2023 | |
| Myriam Hadnes, Michael Kosfeld, Björn Vollan | Fetters of the Sib’ in an Uncertain Business Environment - An Experimental Study in Burkina Faso Entrepreneurship & Regional Development | Household Finance, Experiment Center | Published Paper | 2023 | |
| Andrea Essl, Michael Kosfeld, Markus Kröll, Frauke von Bieberstein | Social Preferences and Sales Performance Journal of Economics & Management Strategy | Household Finance, Experiment Center | Published Paper | 2023 | |
| Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Nofer | The Effects of Discontinuing Machine Learning Decision Support SAFE Working Paper No. 370 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2022 | |
| Markus Eyting | Why do we Discriminate? The Role of Motivated Reasoning SAFE Working Paper No. 356 | Household Finance, Experiment Center | SAFE Working Paper | 2022 | |
| Andrej Gill, Florian Hett, Johannes Tischer | Time Inconsistency and Overdraft Use: Evidence from Transaction Data and Behavioral Measurement Experiments SAFE Working Paper No. 347 | Household Finance, Experiment Center | SAFE Working Paper | 2022 | Household Finance, Paycheck Sensitivity, Fintech, Time Inconsistency, Time Preferences, Experiment, Behavioral Measurement |
| Markus Kröll, Devesh Rustagi | Measuring Honesty and Explaining Adulteration in Naturally Occurring Markets Journal of Development Economics | Law and Finance, Experiment Center | Published Paper | 2022 | Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India |
| Kevin Bauer, Oliver Hinz, Johanna Jagow, Cristina Mihale-Wilson, Maximilian Speicher, Moritz von Zahn | The Smart Green Nudge: Reducing Product Returns through Enriched Digital Footprints & Causal Machine Learning SAFE Working Paper No. 363 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2022 | |
| Victor Klockmann, Marie Claire Villeval, Alicia von Schenk | Artificial Intelligence, Ethics, and Intergenerational Responsibility SAFE Working Paper No. 335 | Household Finance, Experiment Center | SAFE Working Paper | 2022 | |
| Victor Klockmann, Marie Claire Villeval, Alicia von Schenk | Artificial Intelligence, Ethics, and Pivotality SAFE Working Paper No. 336 | Household Finance, Experiment Center | SAFE Working Paper | 2022 | Artificial Intelligence, Big Data, Pivotality, Ethics, Experiment |
| Wenhui Li, Peter Ockenfels, Christian Wilde | The Effect of Ambiguity on Price Formation and Trading Behavior in Financial Markets SAFE Working Paper No. 326 | Financial Markets, Experiment Center | SAFE Working Paper | 2021 | ambiguity, financial market, market price, volatility, trading activity, bid- ask spread, market-based measure of ambiguity, laboratory experiment |
| Kevin Bauer, Michael Kosfeld, Ferdinand von Siemens | Incentives, Self-Selection, and Coordination of Motivated Agents for the Production of Social Goods SAFE Working Paper No. 318 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2021 | |
| Kevin Bauer, Andrej Gill | Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies SAFE Working Paper No. 313 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2021 | Algorithmic transparency, algorithmic decision support, human–machine interaction |
| Kevin Bauer, Oliver Hinz, Christof Weinhardt, Wil van der Aalst | Expl(AI)n It to Me – Explainable AI and Information Systems Research Business & Information Systems Engineering | Financial Intermediation, Experiment Center | Published Paper | 2021 | |
| Kevin Bauer, Oliver Hinz, Moritz von Zahn | Expl(AI)ned: The Impact of Explainable Artificial Intelligence on Users' Information Processing SAFE Working Paper No. 315 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2021 | XAI, explainable machine learning, Information Processing, Belief up-dating, algorithmic transparency |
| Ferdinand von Siemens | Motivated Beliefs and the Elderly’s Compliance with COVID-19 Measures SAFE Working Paper No. 299 | Law and Finance, Experiment Center | SAFE Working Paper | 2021 | motivated beliefs; compliance behavior; age; health; COVID-19 |
| Benjamin M. Abdel-Karim, Kevin Bauer, Oliver Hinz, Michael Kosfeld, Nicolas Winfried Pfeuffer | The Economic Consequences of Algorithmic Discrimination: Theory and Empirical Evidence SAFE Working Paper No. 287 | Financial Intermediation, Experiment Center | SAFE Working Paper | 2020 | Algorithmic Discrimination, Artificial Intelligence, Game Theory, Economics, Batch Learning |
| Wenhui Li, Christian Wilde | Separating the Effects of Beliefs and Attitudes on Pricing under Ambiguity SAFE Working Paper No. 311 | Financial Markets, Experiment Center | SAFE Working Paper | 2021 | ambiguity, belief estimation, belief effect, ambiguity premium, laboratory experiments |
| Wenhui Li, Christian Wilde | Belief Formation and Belief Updating under Ambiguity: Evidence from Experiments SAFE Working Paper No. 251 | Financial Markets, Experiment Center | SAFE Working Paper | 2019 | ambiguity, learning strategy, belief updates, non-Bayesian updates, pessimism, laboratory experiments |
| Sascha Baghestanian, Paul Gortner, Joël van der Weele | Peer Effects and Risk Sharing in Experimental Asset Markets European Economic Review | Household Finance, Financial Markets, Experiment Center | Published Paper | 2019 | peer effects, laboratory experiments, risk taking, asset markets |
| Paul Gortner, Baptiste Massenot | Leverage and Bubbles: Experimental Evidence SAFE Working Paper No. 239 | Macro Finance, Experiment Center | SAFE Working Paper | 2018 | |
| Andrej Gill, Florian Hett, Johannes Tischer | Measuring Time Inconsistency Using Financial Transaction Data White Paper No. 55 | Household Finance, Experiment Center | Policy Paper | 2018 | financial transaction data, financial decision-making, time inconsistency, present bias |
| Florian Hett, Felix Schmidt | Pushing Through or Slacking Off? Heterogeneity in the Reaction to Rank Feedback SAFE Working Paper No. 203 | Household Finance, Experiment Center | SAFE Working Paper | 2018 | heterogeneity, competitiveness; contest; rank feedback, relative performance evaluation |
| Florian Hett, Johannes Kasinger | Undermined Market Discipline: The Role of Bank Rescues and Bailout Expectations Policy Letter No. 59 | Financial Intermediation, Experiment Center | Policy Paper | 2017 | bailout, market discipline, financial institutions, financial crisis, banks |
| Florian Hett, Alexander Schmidt | Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis Journal of Financial Economics | Financial Intermediation, Transparency Lab, Experiment Center | Published Paper | 2017 | Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline |
| Sascha Baghestanian, Paul Gortner, Baptiste Massenot | Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis Experimental Economics | Law and Finance, Experiment Center | Published Paper | 2017 | compensation, liquidity, experimental asset markets, bubbles |
| Christian Eufinger, Andrej Gill | Incentive-Based Capital Requirements Management Science | Law and Finance, Transparency Lab, Experiment Center | Published Paper | 2017 | Basel III, capital regulation, compensation, leverage, risk |
| Michael Kosfeld, Ulrich Schüwer | Add-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education Review of Finance | Household Finance, Experiment Center | Published Paper | 2017 | consumer education,financial literacy, bounded rationality, competition, regulation |
| Markus Kröll, Devesh Rustagi | Reputation, Honesty, and Cheating in Informal Milk Markets in India SAFE Working Paper No. 134 | Law and Finance, Experiment Center | SAFE Working Paper | 2016 | Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India |
| Andrej Gill, Nikolai Visnjic | Performance Benefits of Tight Control The Journal of Private Equity | Law and Finance, Transparency Lab, Experiment Center | Published Paper | 2015 | private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance |
| Sascha Baghestanian, Baptiste Massenot | Credit Cycles: Experimental Evidence SAFE Working Paper No. 104 | Macro Finance, Experiment Center | SAFE Working Paper | 2015 | - |
| Sascha Baghestanian, Paul Gortner, Baptiste Massenot | Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis SAFE Working Paper No. 108 | Law and Finance, Experiment Center | SAFE Working Paper | 2015 | compensation, liquidity, experimental asset markets, bubbles |
| Sascha Baghestanian, Paul Gortner, Joël van der Weele | Peer Effects and Risk Sharing in Experimental Asset Markets SAFE Working Paper No. 67 | Household Finance, Financial Markets, Experiment Center | SAFE Working Paper | 2014 | peer effects, laboratory experiments, risk taking, asset markets |
| Christian Eufinger, Andrej Gill | Incentive-Based Capital Requirements SAFE Working Paper No. 9 | Law and Finance, Transparency Lab, Experiment Center | SAFE Working Paper | 2013 | Basel III, capital regulation, compensation, leverage, risk |
| Andrej Gill, Nikolai Visnjic | Insight Private Equity SAFE Working Paper No. 23 | Law and Finance, Transparency Lab, Experiment Center | SAFE Working Paper | 2013 | private equity, leveraged buyouts, active shareholders, corporate restructuring, operational performance |
| Andrej Gill, Nikolai Visnjic | Performance Benefits of Tight Control SAFE Working Paper No. 24 | Law and Finance, Transparency Lab, Experiment Center | SAFE Working Paper | 2013 | private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance |
| Florian Hett, Alexander Schmidt | Bank Rescues and Bailout Expectations: The Erosion of Market Discipline During the Financial Crisis SAFE Working Paper No. 36 | Financial Intermediation, Transparency Lab, Experiment Center | SAFE Working Paper | 2013 | Bailout, Implicit Guarantees, Too-Big-To-Fail, Market Discipline |
| Michael Kosfeld, Ulrich Schüwer | Add-On Pricing in Retail Financial Markets and the Fallacies of Consumer Education SAFE Working Paper No. 47 | Household Finance, Experiment Center | SAFE Working Paper | 2014 | consumer education,financial literacy, bounded rationality, competition, regulation |
| Jan Pieter Krahnen, Peter Ockenfels, Christian Wilde | Measuring Ambiguity Aversion: A Systematic Experimental Approach SAFE Working Paper No. 55 | Financial Intermediation, Financial Markets, Transparency Lab, Experiment Center | SAFE Working Paper | 2014 | ambiguity, valuation discount, experimental economics |
| Sascha Baghestanian, Todd B. Walker | Anchoring in Experimental Asset Markets SAFE Working Paper No. 54 | Financial Markets, Experiment Center | SAFE Working Paper | 2014 | Experimental Asset Markets, Anchoring, Bubbles |
| Sascha Baghestanian, Todd B. Walker | Anchoring in Experimental Asset Markets Journal of Economic Behavior & Organization | Financial Markets, Experiment Center | Published Paper | 2015 | Experimental Asset Markets, Anchoring, Bubbles |
Research Projects
Current Research Team
In this Section:
