Univ.-Prof. DDr. Jürgen Huber

Platzhalterbild: MitarbeiterIn

Head of the Department of Banking and Finance,
Full Professor in Finance

  +43 (0) 512 507 73002

  juergen.huber@uibk.ac.at

  SOWI o.4.06

 please make an appointment by mail

  Download CV

  Medienbeiträge

  Research

  Research Interests

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

   Publication

Publications in Refereed Journal

Verschuere, B., Meijer, E., Jim, A., Hoogesteyn, K., Orthey, R., McCarthy, R., Skowronski, J., ... , Huber, J., ... , Yildiz, E. (2018). Registered Replication Report on Mazar, Amir, and Ariely (2008). Advances in Methods and Practices in Psychological Science, online first.>>article

McCarthy, R.J., Skowronski, J.J., Verschuere, B., Meijer, E. H., Jim, A., Hoogesteyn, K., Orthey, R., ... , Huber, J., ... , Yildiz, E. (2018). Registered Replication Report on Srull and Wyer (1979). Advances in Methods and Practices in Psychological Science, online first >>article

Camerer, C., Dreber, A., Holzmeister, F., Ho, T., Huber, J., Johannesson, M., Kirchler, M., Nave, G., Nosek, B., Pfeiffer, T., Altmejd, A., Buttrick, N., Chan, T., Chen, Y., Forsell, E., Gampa, A., Heikenstein, E., Hummer, L., Taisuke, I., Isaksson, S., Manfredi, D., Rose, J., Wagenmakers, E., Wu, H. (2018) Evaluating the replicability of social science Experiments. Nature Humane Behaviour 2: 637-644 >>article

Weitzel, U., Huber, Ch., Lindner, F., Huber, J., Rose, J., Kirchler, M. (2018) Bubbles and nancial professionals. Working Papers in Economics and Statistics - University of Innsbruck 04 >>article

Huber, J., Shubik, M., and Sunder, S. (2018) Financing of Public Goods through Taxation in a General Equilibrium Economy: Experimental Evidence. Journal of Economic Behavior and Organization 148: 171-188 >>article

Huber, J., Kirchler, M., Kleinlercher, D., and Sutter, M. (2017) Market vs. Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax. The Economic Journal 127 (Oct 2017): F610-F631>>article

Razen, M., Huber, J., and Kirchler (2017) M. "Cash Inflow and Trading Horzion in Asset Markets". European Economic Review 92: 359-384 >>article

Camerer, C., Dreber, A., Forsell, E., Ho, T., Huber, J., Johannesson, M., Kirchler, M., Almenberg, J., Altmejd, A., Chan, T., Heikensten, E., Holzmeister, F., Imai, T., Isaksson, S., Nave, G., Pfeiffer, T., Razen, M., Wu, H. (2016) Evaluating replicability of laboratory experiments in economics. Science 10.1126/science.aaf0918 351 (6280): 1433-1436 >>article

Kirchler, M., Huber, J., Stefan, M., and Sutter, M. (2016) Market design and moral behavior. Management Science 62: 2615-2625 >>WP-version

Huber, J., Kichler, M., Stoeckl, T. (2016) The influence of investment experience on market prices. Laboratory evidence. Experimental Economics 19: 394-411 >>article

Huber, J., Shubik, M., Sunder, S. (2016), Default Penalty as a Disciplinary and Selection Mechanism in Presence of Multiple Equilibria. Journal of Behavioral and Experimental Finance 9: 20-38 >>article

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.

  Presentations (past 5 years)

  • Experimental Finance 2018 “Scale matters: Risk perception, return expectation, and investment propensity under different scalings”, Heidelberg, Germany, June 2018
  • Conference on the Experimental and Behavioral Aspects of Financial Markets “Does Investor Risk Perception Drive Asset Prices? Experimental Evidence”, Los Angeles, USA, January 2018
  • Experimental Finance 2017 “Does Investor Risk Perception Drive Asset Prices? Experimental Evidence”, Nice, France, June 2017
  • Joint Conference of the Academy of Entrepreneurial Finance and Academy of behavioral Finance & Economics “Experimental Evidence on What People perceive as Risk and hot it influences Asset Prices”, Stuttgart, Germany, March 2017
  • Mannheim Finance Research Seminar “Does Investor Risk Perception Drive Asset Prices? Experimental Evidence”, Mannheim, Germany, February 2017
  • Oesterreichische Forschungsgemeinschaft “Market vs. Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax”, Innsbruck, November 2016
  • Experimental Finance 2016, “Do lab experiments in economics replicate?”, Mannheim, Germany, June 2016
  • Euregio Meeting 2016, “Do companies benefit from corporate campaign contributions? Evidence from Bush and Obama”, Bolzano, Italy, April 2016
  • Research seminar “Replicability in Experimental Economics”, Chapman University, USA, February 2016
  • Keynote lecture at “Advances in Behavioral Finance”, Annual Conference of the Center for Economics and Econometrics (CEE) “The Current State of Experimental Finance – Challenges and Opportunities”, Istanbul, Turkey, December 2015
  • Experimental Finance 2015, “The influence of investment experience on market prices. Laboratory evidence”, Nijmegen, Netherlands, June 2015
  • Experimental Finance 2014, “Why Price Indeterminacy? Short-horizon Investors and Difficulty of Backward Induction in Financial Markets”, Zurich, Switzerland, June 2014
  • Workshop “Expectations and Markets”, “The `Inflow-Effect' - Trader Inflow and Bubble Formation in Asset Markets”, Berlin, Germany, April 2014
  • 8th Nordic Conference on Behavioral and Experimental Economics: “The ‘Inflow-Effect’: Trader Inflow and Bubble Formation in Experimental Asset Markets”, Stockholm, Sweden, September 2013
  • 2nd ESEI Market Design Workshop: “In- and Outflow of Traders in Financial Markets”, Zurich, July 2013
  • Austrian Central Bank: “Setting up a Financial Transaction Tax: Institutions Details Matter”, Vienna, April 2013

  Media Coverage

Medienbeiträge  

  Ad-hoc Referee

American Economic Review, Chaos Solitons and Fractals, Econometrica, Experimental Economics, Financial Analysts Journal, Games and Economic Behavior, Journal of Banking and Finance, Journal of Behavioral and Experimental Finance, Journal of Business Research, Journal of Economic Behavior and Organization, Journal of Economic Dynamics and Control, Journal of Economic Psychology, Journal of International Money and Finance, Management Science, Physica A, Review of Finance, Review of Financial Studies, The Academy of Management Journal, SCIENCE.

NSF, FWF and OeNB, Member of the Scientific Committee of WEHIA/ESHIA2010, Artificial Economics 2010 and 2011, European Retail Investment Conference since 2011 (ERIC). Referee for the FMA Meeting 2017. Advisory Board of the Stamford Journal.

  Grants, Prices, and Awards

  • FWF-SFB F6304-G29 “Decision Making of Financial Professionals”, Project part leader (€612,000, 2017-2021)
  • FWF-Research Grant P29362-G27 „The Reproducibility of Experimental Economics“ (€304.420, 2016-2019)
  • Pater Johannes Schasching SJ-Preis 2016
  • 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)
  • 1st out of 450 students in Ranking for the international study program (1996)

  Teaching

I love to teach, try to keep teaching interactive, and always bring my current research into teaching – e.g. by implementing experiments in class and discussing recent research results.

I taught at the Universities of Innsbruck, Krems and Vienna (all Austria), Hohenheim (Germany), Yale University (USA), Chulalongkorn University and Ramkamhaeng University (both Thailand), Vietnam National University, and Gadjah Mada University (Indonesia).

Courses were in English and German at all levels (BA, MA and PhD) and comprised up to 750 students (in the largest lecture), with usual class sizes being 30 students in seminars. Topics were Empirical Finance, Corporate Finance, International Finance, Behavioral and Experimental Finance, Market Efficiency, Academic Writing and Corporate Decision Making.

  Appointments and Education

  Appointments

Since 2017

Member of the editorial board of the Review of Behavioral Finance

2016 - 2017

2014 - 2016

General manager Society for Experimental Finance

2013 - 2015

Member of the editorial board of the Journal of Behavioral and Experimental Finance

Since 2012

Member of the Fakultätsrat (Council of the Faculty)

2011

Co-Founder and Executive Board Member of the Society for Experimental Finance

Since 2010

Head of the Department of Banking and Finance (University of Innsbruck)

Since 2008

Full Professor in Finance at the University of Innsbruck

2008 – 2010

Head of the research center “Financial Markets and Risk” at the University of Innsbruck

2007 - 2008

Associate Prof. in Finance, University of Innsbruck

2007 - 2008

Associate Dean for the Master Program “Banking and Finance”

2004 - 2008

Coordinator of international student exchange program with Gadjah Mada University, Yogjakarta, Indonesia

Since 2002

Member in numerous habilitation committees and appointment commissions selecting new full professors

2002 - 2004

Project Manager "Presse-Wahlbörse 2002", a political stock market uniting a team of political scientists, economists, journalists and software engineers to set up a new tool to predict the outcome of the federal elections in Austria; subsequent projects to cover regional elections for Tyrol and Salzburg

2001 - 2004

Coach of entrepreneurs and business start-ups for the "Tiroler Zukunftsstiftung" (Adventure X), an initative to improve the chances of young entrepreneurs and business start-ups

2000 - 2002

Committee Member and Project Manager for INVENT, an international joint venture MBA-Program

1998 - 2007

Assistant Professor of Finance at the University of Innsbruck

  Foreign Research Acitivities

Mar'08 - Jul'08

Visiting Full Professor in Finance at the University of Vienna

Apr'06 - Feb'07

Visiting Assistant Professor, Yale School of Management, Yale University, New Haven, USA, further research visits there in January 2008, December 2008, and March/April 2010, July 2011.

Aug'05

Guest Lecturer at Gadja Mada University, Yogjakarta and Jakarta Campuses, Indonesia

Dec'04

Guest Lecturer at Vietnam National University, Ho Chi Minh City

Since 2002

Guest Professor at Ramkhamhaeng University (until 2013) and Chulalongkorn University (since 2014), Bangkok, Thailand

  Education

May 2007

Habilitation (venia docendi) in Business Administration, University of Innsbruck

Oct 2001

Graduation at the University of Innsbruck – Doctor of Political Sciences with high distinction (Ph.D. in Political Sciences)

Jul 2001

Graduation at the University of Innsbruck – Doctor of Social and Economic Sciences with high distinction (Ph.D. in Finance)

Jul 1998

Graduation at the University of Innsbruck - Magister rer.soc.oec. with high distinction (Master of Business and Economics)

1996 - 1997

Exchange student at Tulane University (New Orleans, USA, GPA 3.95)

1994 - 1998

"International Economics and Business" at the University of Innsbruck, Austria. Additional studies of economics and law

1993 - 1994

eight months of compulsory military service

1993

Matura with high distinction (end of grammar school)