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.

Prof. Dr. Michael Kosfeld

Co-Coordinator, SAFE Experiment Center

Prof. Dr. Peter Andre

Co-Coordinator, SAFE Experiment Center

Publications

Author/s	Title	Area	Type	Published
Peter Andre	Shallow Meritocracy Review of Economic Studies	Experiment Center, Behavioral Finance	Published Paper	2025
Benjamin M. Abdel-Karim, Kevin Bauer, Rebecca Heigl, Oliver Hinz, Michael Kosfeld, Nicolas Winfried Pfeuffer	The Terminator of Social Welfare? - The Economic Consequences of Algorithmic Discrimination forthcoming in Journal of the Association of Information Systems	Financial Intermediation, Experiment Center	Published Paper	2025
Peter Andre, Teodora Boneva, Felix Chopra, Armin Falk	Misperceived Social Norms and Willingness to Act Against Climate Change forthcoming in The Review of Economics and Statistics	Experiment Center, Behavioral Finance	Published Paper	2025
Peter Andre, Ingar Haaland, Christopher Roth, Mirko Wiederholt, Johannes Wohlfart	Narratives about the Macroeconomy SAFE Working Paper No. 426	Household Finance, Experiment Center, Behavioral Finance	SAFE Working Paper	2024
Peter Andre, Marc Kaufmann, Botond Köszegi	Understanding Markets with Socially Responsible Consumers Quarterly Journal of Economics	Experiment Center, Behavioral Finance	Published Paper	2024
Julian Detemple	Thoughts about the Dictator and Trust Game SAFE Working Paper No. 422	Household Finance, Experiment Center	SAFE Working Paper	2024
Michael Kosfeld, Zahra Sharafi	The Preference Survey Module: Evidence on Social Preferences from Tehran Journal of the Economic Science Association	Household Finance, Experiment Center	Published Paper	2024
Peter Andre, Teodora Boneva, Felix Chopra, Armin Falk	Misperceived Social Norms and Willingness to Act Against Climate Change SAFE Working Paper No. 414	Experiment Center, Behavioral Finance	SAFE Working Paper	2024
Peter Andre, Teodora Boneva, Felix Chopra, Armin Falk	Globally Representative Evidence on the Actual and Perceived Support for Climate Action Nature Climate Change	Experiment Center, Behavioral Finance	Published Paper	2024
Kevin Bauer, Rebecca Heigl, Oliver Hinz, Michael Kosfeld	Feedback Loops in Machine Learning: A Study on the Interplay of Continuous Updating and Human Discrimination Journal of the Association for Information System	Household Finance, Experiment Center	Published Paper	2024

Research Projects

Household Finance, Experiment Center

Leading by Example or Crowding out? The Effect of Governmental Leadership on Individuals’ Willingness to Act Against Climate Change: Follow Up

Jakob Famulok, Michael Kosfeld, Christine Laudenbach

Household Finance, Experiment Center

Moral Licensing through ESG Investments: Causal Evidence on Individuals' Preferences and Actions

Jakob Famulok, Emily Kormanyos, Daniel Worret, Daniel Worring

Household Finance, Experiment Center

Leading by Example – The Causal Effect of Credible Action by Local Government on Citizens’ Motivation and Beliefs about Others to Flight Climate Change

Jakob Famulok, Michael Kosfeld, Christine Laudenbach

Law and Finance, Household Finance, Experiment Center

Decentralized Feature Selection: Analysis of User Involvement in the Feature Selection Process of Machine Learning-based Systems

Kevin Bauer, Victor Klockmann, Jan Zacharias, Alicia von Schenk

Household Finance, Experiment Center

Current Research Team

Search:

Researcher	Position
Andre, Peter	Assistant Professor
Famulok, Jakob	Doctoral Student
Gill, Andrej	SAFE Fellow
Hett, Florian	SAFE Fellow
Kosfeld, Michael	Professor
Laudenbach, Christine	Professor
Liebich, Lena	Doctoral Student
von Siemens, Ferdinand	SAFE Fellow

In this Section:

Experiment Center

Publications

Research Projects

Cooperation of Asymmetric Players

The Demand Side Effects of Discrimination in Finance

Drivers of EV Adoption: The Role of Information Frictions

Which Mechanisms Drive the Effects of Social Norms on Sustainable Investments?

The Effect of Experienced Discrimination on Groupiness, Particularly Ingroup Favoritism

Overconfidence and the Gender Application Gap

Leading by Example or Crowding out? The Effect of Governmental Leadership on Individuals’ Willingness to Act Against Climate Change: Follow Up

MIFID II Regulation and Scope for Motivated Sustainability Investments

Separating the Effects of Beliefs and Attitudes on Pricing under Ambiguity

The Effect of Echo Chambers on Biased Beliefs

Moral Licensing through ESG Investments: Causal Evidence on Individuals' Preferences and Actions

Leading by Example – The Causal Effect of Credible Action by Local Government on Citizens’ Motivation and Beliefs about Others to Flight Climate Change

Decentralized Feature Selection: Analysis of User Involvement in the Feature Selection Process of Machine Learning-based Systems

The Mechanisms behind the Effect of Echo Chambers on Biased Beliefs

Identity as an Excuse: Opportunistic Identity Management in Labor Markets

Discrimination - Bank of Workers

Heterogeneity in Investor Preferences for Sustainable/Green Finance

Strategic Self-Deception in Repeated Interaction

Current Research Team

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