Welcome to the Innsbruck Winter School 2020



Program & general information | Accommodation | Course lecturers | Application

The SFB (Special Research Unit) “Credence Goods, Incentives and Behavior” at the University of Innsbruck is delighted to announce the third edition of the Innsbruck Winter School on Credence Goods, Incentives and Behavior. The Winter School will focus on theoretical, experimental and behavioral approaches towards analyzing the economic implications of credence goods and will be taught by Loukas Balafoutas and Rudolf Kerschbamer (both from University of Innsbruck). In addition, special sessions on selected topics in Behavioral Economics/Finance will be held by Martin Dufwenberg (University of Arizona), Brit Grosskopf (University of Exeter), and Michael Kirchler (University of Innsbruck and University of Göteborg). 

The purpose of this Winter School is to provide students with the tools needed to analyze key determinants of individual behavior and market performance in credence goods markets (with a wide definition of credence goods), such as markets for health care, repair and legal services, as well as markets for financial advice and fund management.

Part of the program will be the two-day workshop Innsbruck Winter Summit – (Un)Ethical Behavior in Markets. Keynotes will be given by Roland Bénabou (Princeton University), Edi Karni (Johns Hopkins University), and Bettina Rockenbach (University of Cologne).

With the University of Innsbruck being located in the middle of the Alps, the Winter School will be held a 40 minutes’ drive away in Kühtai, a small town located 2020 meters above sea level in a picturesque ski area. It offers the perfect combination of learning from outstanding experts in the field, networking opportunities among young researchers and a wide range of winter sport activities.



© Innsbruck Tourismus / Daniel Zangerl


The Winter School will be held from Saturday, March 14 until Saturday, March 21 and will cover the following topics:

  • Theoretical foundations of credence goods
  • The method of running laboratory and field experiments in the social sciences
  • Credence goods and laboratory/field experiments
  • Psychological game theory
  • Experiments in finance

You can find the program here. Additional information and general logistics can be found here.


Accommodation in shared rooms (with separate beds), breakfast and dinner are included in the tuition fee and provided at the Hotel Jagdschloss in Kühtai. Located 2020 meters above sea level at the center of the picturesque ski area and equipped with various wellness facilities, you will have plenty of opportunities to enjoy the natural surroundings and relax in between the scientific sessions. 

Course lecturers

The course will be taught mainly by Loukas Balafoutas and Rudolf Kerschbamer (both from the University of Innsbruck) with special sessions on selected topics in Behavioral Economics and Finance by Martin Dufwenberg (University of Arizona), Brit Grosskopf (University of Exeter), and Michael Kirchler (University of Innsbruck and University of Göteborg). Find out more about the two main lecturers below.

Prof. Loukas Balafoutas

balafoutasLoukas Balafoutas is currently a professor for experimental economics at the Department of Public Finance, University of Innsbruck. Most of his research uses applied game theory and experimental methods, with data collected both in the lab and in the field. His main areas of interest are credence goods, tournaments, social norms and cooperation, public economics, corruption, and affirmative action policies in the labor market. He is the author or co‐author of several publications in highly‐ranked academic journals such as Review of Economic Studies, Economic Journal, Journal of Public Economics, Science, and Proceedings of the National Academy of Sciences (PNAS).

Personal website

Prof. Rudolf Kerschbamer

portrait-kerschbamer.jpgRudolf Kerschbamer is currently professor of economics at the Department of Economics, University of Innsbruck. His most recent research focuses on the theoretical and experimental analysis of credence goods markets and resulted in numerous high-profile publications, published, among others, in American Economic Review, Review of Economic Studies, PLOS, and Journal of Economic Literature.

Personal website





The tuition fee for the Winter School is 650 Euros for the 7-day course and includes half-board and accommodation (shared double room with separate beds) at the Hotel Jagdschloss, attendance at the Innsbruck Winter Summit, and transportation between Innsbruck and Kühtai. Any additional expenses are to be covered by the participants. 

The Winter School reaches out to PhD students and PostDocs in economics, finance, and other related social sciences that apply theoretical and/or experimental methods in their respective fields.  

The deadline for applications is November 30, 2019. You will receive the decision on your application no later than December 15, 2019. The tuition fee will have to be paid in full within two weeks after you receive the confirmation via Bank Transfer. Further details will be given via email. 

Please apply using the following form.

If you have any questions, please contact Tobias Haller (tobias.haller@uibk.ac.at).

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