Univ.Prof. DDr. Jürgen Huber

born September 15th 1974 in Braunau/Inn, Austria
Tel: ++43/512/507/73002
Sprechstunde/Consultation hours: please make an appointment by mail.


Fields of Research

Experimental Economics and Finance, Behavioral Finance, Bubbles, Value and Valuation of Information, Market Microstructure, Asymmetric Information, Empirical Properties of Financial Markets ("stylized facts"), Transaction Taxes, Prediction Markets


CV for download

CV Huber


Papers in refereed journals


Kirchler, M., Huber, J., Stefan, M., and Sutter, M. (2015) Market design and moral behavior. Management Science (forthcoming) >>WP-version

Huber, J., Kirchler, M., Kleinlercher, D., and Sutter, M. (2015) Market vs. Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax. The Economic Journal (forthcoming)>>older WP-version

Huber, J., Kichler, M., Stoeckl, T. (2015) The influence of investment experience on market prices. Laboratory evidence. Experimental Economics (forthcoming)

Huber, J., Shubik, M., Sunder, S. (2015), Default Penalty as a Disciplinary and Selection Mechanism in Presence of Multiple Equilibria. Journal of Behavioral and Experimental Finance (forthcoming)

Stöckl, T., Huber, J., Kirchler, M., Lindner, F. (2015), Hot Hand Belief and Gambler's Fallacy in teams: Evidence from investment experiments. Journal of Economic Behavior and Organization 117: 327-339 >>article

Hauser, F., Kaempff, B. and Huber, J., (2015), Costly Information in Markets with Heterogeneous Agents: A Model with Genetic Programming. Computational Economics 46: 205-229 >>article

Kirchler, M., Bonn, C., Huber, J., and Razen, M. (2015) The 'Inflow-Effect' - Trader Inflow and Price Efficiency. European Economic Review 77: 1-19 >>article

Stöckl, T., Huber, J. and Kirchler, M. (2015) Multi-period experimental asset markets with distinct fudamental value regimes. Experimental Economics 18: 314-334 >>article

Huber, J., Kirchler, M. and Stefan, M. (2014) Experimental Evidence on Varying Uncertainty and Skewness in Laboratory Double-Auction Markets. Journal of Economic Behavior and Organization 107: 798-809 >>article

Huber, J., Shubik, M. and Sunder, S., (2014) Sufficiency of an Outside Bank and a Default Penalty to Support the Value of Fiat Money: Experimental Evidence. Journal of Economic Dynamics and Control 47: 317-337 >>article

Kleinlercher, D., Huber, J. and Kirchler, M., (2014) The impact of different incentive schemes on asset prices. European Economic Review 68: 137-150 >>article

Angerer, M., Huber, J. and Kirchler, M., (2014), Trader Performance in a Market Experiment with Human and Computerized Traders. sbr Schmalenbach Business Review 66 (7): 224-244 >>article

Matzler, K., Fueller, J., Grabher, C. and Huber, J., (2013), Predicting new product success with prediction markets in online communities. R&D Management 43 (5): 420-432. >>article

Huber, J., and Kirchler, M., (2013), Corporate Campaign Contributions and Abnormal Stock Returns after Presidential Elections. Public Choice 156 (1): 285-307 >>article

Kirchler, M., Huber, J., and Stöckl, T. (2012), Thar she bursts – Reducing confusion reduces bubbles.  American Economic Review  102 (2): 865-883. >>article

Sutter, M., Huber, J., and Kirchler, M. (2012), Bubbles and information: An experiment. Management Science 58 (2): 384-393. >>article

Huber, J., Kirchler, M. (2012), The impact of instructions and procedure on reducing confusion and bubbles in experimental asset markets. Experimental Economics 15 (1): 89-105. >>abstract >>article

Huber, J., Kleinlercher, D. and Kirchler, M., (2012), The impact of a Financial Transaction Tax on Stylized Facts of Price Returns - Evidence from the Lab. Journal of Economic Dynamics and Control 36 (8): 1248-1266 >>article 

Hauser, F. and Huber, J., (2012), Short-Selling Constraints as Cause for Price Distortions, Journal of International Money and Finance 31: 1279-1298 >>article

Huber, J., Angerer, M., and Kirchler, M. (2011), Experimental asset markets with endogenous choice of costly asymmetric information. Experimental Economics 14 (2): 223-240. >>article

Kirchler, M., Huber, J., and Kleinlercher, D., (2011), Market Microstructure Matters when Imposing a Tobin Tax - Evidence from the Lab, Journal of Economic Behavior and Organization 80 (3): 586-602. >>article

Huber, J., Shubik, M., and Sunder, S. (2010), Three Minimal Market Institutions with Human and Algorithmic Agents: Theory and Experimental Evidence. Games and Economic Behavior 70 (2): 403-424. >>article

Stöckl, T., Huber, J., and Kirchler, M. (2010), Bubble measures in experimental asset markets. Experimental Economics 13 (3): 284-298. >>article

Angerer, M., Huber, J., Shubik, M., and Sunder, S. (2010), An Economy with Personal Currency: Theory and Experimental Evidence. Annals of Finance 6 (4): 475-509. >>article

Huber, J., Kirchler, M., and Stöckl, T. (2010), The hot hand belief and the gambler's fallacy  in investment decisions under risk. Theory and Decision 68 (4): 445-462. >>abstract >>article

Hanke, M., Huber, J., Kirchler, M., and Sutter, M. (2010), The economic consequences of a Tobin tax - An experimental analysis. Journal of Economic Behavior and Organization 74: 58-71. >>abstract>>article

Kirchler, M., Huber, J. (2009), An exploration of commonly observed stylized facts with data from experimental asset markets. Physica A: Statistical Mechanics and its Applications 388: 1631-1658. >>abstract >>article

Huber, J., Kirchler, M., and Sutter, M. (2008), Is more information always better? Experimental financial markets with cumulative information. Journal of Economic Behavior and Organization 65: 86-104. >>abstract >>article

Kirchler, M., and Huber, J. (2007), Fat tails and volatility clustering in experimental asset markets. Journal of Economic Dynamics and Control 31: 1844-1874. >>abstract >>article

Huber, J. (2007), ’J’-shaped returns to timing advantage in access to information – Experimental evidence and a tentative explanation. Journal of Economic Dynamics and Control 31: 2536-2572.

Huber, J. and Ohnesorge, D. (2007), An Experimental Exploration of Cooperation and Trustworthiness in Austria and Thailand. International Journal of Business Research 7: 19-30.

Huber, J. (2007), Why monkeys beat fund managers. Yale Economic Review 4: 30-35.

Toth, B., Scalas, E., Huber, J., and Kirchler, M. (2007), The value of information in a multi-agent market model - The luck of the uninformed. European Physical Journal B 55: 115-120. >>abstract >>article

Huber, J., Kirchler, M., and Sutter, M. (2006), Vom Nutzen zusätzlicher Information auf Märkten mit unterschiedlich informierten Händlern – Eine experimentelle Studie. Zeitschrift für betriebswirtschaftliche Forschung 58: 188-211. >>abstract

Scalas, E., Kaizoji, T., Kirchler, M., Huber, J., and Tedeschi, A. (2006), Waiting times between orders and trades in double-auction markets. Physica A: Statistical Mechanics and its Applications 366: 463-471. >>abstract >>article

Huber, J. and Rieger, A. (2006), Changes in optimal diversification strategies in Europe: An empirical exploration of the importance of industry vs. country effects. Journal of International Business Strategy 3 (1): 1-8.

Huber, J. (2004), A contribution to solving an old puzzle: why different trading strategies persist in competitive markets. Journal of Academy of Business and Economics 3: 171-180.

Filzmaier, P., Beyrl, M., Hauser, F., and Huber, J. (2003), Wahlbörsen als interdisziplinäres Instrument der Sozialforschung: Erfahrungen aus Wahlen in Österreich. SWS-Rundschau 3: 387-410.


Contributions to books

Huber, J., (2012), Finanzwirtschaft in der Krise. in: Asset Management, Festschrift für Prof. Dr. rer. nat. Dr. h.c. rer. pol. Klaus Spremann zur Emeritierung, Roman Frick, Pascal Gantenbein und Peter Reichling (Hrsg.), Haupt Verlag Bern-Stuttgart-Wien: 60-67

Hauser, F., Huber J., and Kirchler, M. (2009), Comparing laboratory experiments and Agent-Based Simulations: The value of information and market efficiency in a market with asymmetric information. in: Hernández, C., et al., Artificial Economics: The Generative Method in Economics. Heidelberg, Springer: 199-210.

Huber J., and Kirchler, M. (2008), Why increased knowledge does not necessarily improve trading success: A Monte-Carlo simulation. in:  Economic dynamics: Theory, games and empirical studies. Hurlington, C.W. (Ed.), New York, Nova Science Publishers: 201-210.

Huber, J., and Kirchler, M. (2008), When more information can be harmful: Evidence from experimental asset markets. in: Information, interaction and (In)Efficiency in financial markets. Wien, Linde Verlag: 62-94.

Huber, J., Kirchler, M., and Sutter, M. (2007), Does the level of information matter for traders? On the usefulness of information in experimental asset markets. in:  Developments on experimental economics, Oda, S. (Ed.), Heidelberg, Springer Verlag: 251-256.

Toth, B., Scalas, E., Huber, J., and Kirchler, M., (2006), Agent-based simulation of a double-auction market with heterogeneously informed agents, forthcoming in Proceedings of Potentials of Complexity Science for Business, Governments and the Media 2006 Conference

Huber, J., Kirchler, M., Sutter, M. (2004), On the marginal benefit of additional information in markets with heterogenously informed agents - an experimental study. in: Nonlinear dynamics and heterogeneous interacting agents, WEHIA 2003 Proceedings, Lux, T., Reitz, S. (Ed.),  Heidelberg, Springer Verlag: 41-52.

Filzmaier, P., Beyrl, M., Hauser, F., and Huber, J. (2003), Ein taugliches Prognoseinstrument? Die TT-Wahlbörse zur Tiroler Landtagswahl 2003. Tiroler Jahrbuch für Politik 2003: 178-192.



•    OeNB-Research Grant 14953 "Towards better Market Models in Experimental Finance" (€180.000, 2013-2016)
•    Forschungspreis der Stiftung Südtiroler Sparkasse 2015
•    FWF-Research Grant P20609-G11 „Three Minimal Market Institutions: Theory and Experiments“ (€97.550, 2008-2010)
•    OeNB-Research Grant 12789 „Eine experimentelle Studie zur Bedeutung von Unsicherheit in Finanzmärkten“ (€95.000, 2008-2010)
•    Tiroler Wissenschaftsfonds Grant "Informationen und Renditen in experimentellen Finanzmärkten" (€ 8.728, 2008-2010)
•   Lehreplus! "Rector's honorary award for excellent teaching 2008
•    Research Grant (Hypo Tirol Bank) for „Experimental studies on the value of information in a double auction market with information costs” (2008)
•    Research Grant (D. Swarovski) for „Three Minimal Market Institutions: Theory and Experimental Evidence” (2008)
•    Teacher of the Year 2007 (Innsbruck School of Management)
•    Liechtenstein-Award 2007 (Principality Liechtenstein)
•    Research Grant  of the Tyrolean Science Funds for „Information and Return in financial markets” (2007)
•    Dr. Alois Mock-Wissenschaftspreis 2006
•    Research Grant (D. Swarovski) for “The value of information in experimental asset markets with heterogeneous traders” University of Innsbruck (2006)
•    Erwin-Schrödinger-Auslandsstipendium (Scholarship for Yale) 2006
•    Support grant by the Austrian Chamber of Business, 2006
•    Research Grant for “Information and return in experimental financial markets” by the University of Innsbruck (€20.000, 2005-2007)
•    Research Grant for “Information and financial markets”, Aktion Tiroler Wirtschaftskammer, by the University of Innsbruck (2005)
•    Dr. Otto-Seibert Preis 2004
•    Research Grant for “On the Usefulness of Information in Markets” by the University of Innsbruck (2002)
•    Leistungsstipendium (Grant of Achievement), University of Innsbruck 1998
•    International Study Scholarship by the Republic of Austria (1996/97)
•    Support Grant for International Studies in the U.S.A. by the regional government of Upper Austria (1996/97)
•    1st out of 450 students in Ranking for the international study program (1996)

In the media