Matthias Stefan, PhD

Department of Banking and Finance, University of Innsbruck

Tel: +43 (0)512 507 73013


Address: Universitätsstrasse 15, A-6020 Innsbruck, Room: o.4.15

Consultation Hours: by appointment 

Selected papers in refereed journals

Stefan, M., Holzmeister, F., Müllauer, A., Kirchler, M. (2018). Ethnical discrimination in Europe: Field evidence from the Finance industry. Plos One 13(1): e0191959.

Kirchler, M., Andersson, D., Bonn, C., Johannesson, M., Sørensen, E., Stefan, M., Tinghög, G., Västfjäll, D. (2017), The effect of fast and slow decisions on risk taking. Journal of Risk and Uncertainty.

Stefan, M (2016), On the impact of semantic framing in experimental asset markets. Journal of Behavioral and Experimental Finance.

Kirchler, M., Huber, J., Stefan, M., Sutter, M. (2015), Market design and moral behavior. Management Science.

Huber, J., Kirchler, M., Stefan, M. (2014), Experimental evidence on varying uncertainty and skewness in laboratory double-auction markets. Journal of Economic Behavior and Organization.

Selected working papers

Razen, M., Stefan, M. (2016), Greed: Taking a deadly sin to the lab. Working Paper.

Sutter, M., Huber, J., Kirchler, M., Stefan, M. (2016), Where to look for the morals in markets. Working Paper.

Selected presentations

Research Seminar Max Planck Institut Bonn, 2018. SAET Conference 2017, Faro. Experimental Finance 2017, Nice. Research Seminar Chapman University 2016. Experimental Finance 2016, Mannheim. Euregio Workshop 2016, Bolzano. Workshop 'Time in Economic Decision Making' 2014, Munich. Experimental Finance 2014, Zurich. Research Seminar University of Innsbruck 2014. eeecon Workshop 2012, Innsbruck. Meeting of Research Platform 'Organizations and Society' 2013, Innsbruck.  Experimental Finance 2012, Luxembourg.  

Selected grants and awards

Research grant, Hypo Tirol Bank, 2016 (with F. Holzmeister)

Award for promoting the dialogue between Economics, Ethics and Religion (Pater Johannes Schasching SJ-Award), 2016 (with J. Huber, M. Kirchler and M. Sutter)

Research grant, Aktion D. Swarovski KG, 2015

Media coverage

Moral und Strafe, Die Presse,,, Der Standard, Dolomiten, Wiener Zeitung, Vorarlberger Nachrichten

"Mäuse, Mord und Märkte", Frankfurter Allgemeine Zeitung, 19.10.2015, p. 16

"(Un-)Moral auf Märkten: Wie wichtig das Design ist"; DiePresse, online and print

Fields of research

Experimental/ Behavioral Economics, Ethical and Psychological Questions in Economics, Market Efficiency


2015      PhD Management

2011      Master (Diplomstudium) of Business Administration, University of Innsbruck

2008      Master (Diplomstudium) of Philosophy, University of Innsbruck