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  Research

  Research Interests

Behavioral Economics, Ethical and Psychological Questions in Economics/ Finance

  Publications

Working Paper

Delegated Decision Making in Finance
(joint with Holzmeister, F., Holmen, M., Kirchler, M., Wengström, E. ) Preprint at OSF

The risk elicitation puzzle revisited: Intra- and inter-subject (in)consistencies across methods
(joint with Holzmeister, F.) Under Review. Preprint at OSF

Financial Literacy, Economic Preferences, and Adolescents' Field Behavior
(joint with Razen, M., Huber, J., Hueber, L., Kirchler, M.). Working Paper at IDEAS

Monetary and Social Incentives in Multi-Tasking: The Ranking Substitution Effect
(joint with Huber, J., Kirchler, M., Sutter, M., Walzl, M.). Working Paper at EconPapers

Publications in Refereed Journals

Landy, J. F., Jia, M., Ding, I. L., Viganola, D., Tierney, W., . . . Uhlmann, E. L. (2019) Crowdsourcing hypothesis tests: Making transparent how design choices shape research results. Psychological Bulletin (forthcoming).

Razen, M., Stefan, M. (2019), Greed: Taking a deadly sin to the lab. Journal of Behavioral and Experimental Economics (81), 164-171.

Sutter, M., Huber, J., Kirchler, M., Stefan, M., Walzl, M. (2019), Where to look for the morals in markets. Experimental Economics.

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, 54(1), 37-59.

Stefan, M (2016), On the impact of semantic framing in experimental asset markets. Journal of Behavioral and Experimental Finance, 9, 81-87.

Kirchler, M., Huber, J., Stefan, M., Sutter, M. (2015), Market design and moral behavior. Management Science, 62(9), 2615-2625.

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, 107, 798–809.

Monographs

Gasser, G., Stefan, M. (Eds.) (2013), Personal Identity. Complex or simple? Cambridge University Press.

  Work-in-Progress

FiT - Financial Training for High School Students using Experimental Economics
(joint with Razen, M., Huber, J., Hueber, L., Kirchler, M. and AK Tirol).  

Portfolio Choice: Helping Investors to Pick What They Like
(joint with Holzmeister, F. Razen, M.)

Preferences and Behavioral Characteristics of Financial Professionals and the General Population - Experimental and Register Data (joint with Holmén, M., Holzmeister, F., Kirchler, M., Wengström, E.).

The lead time updating trap: Analyzing human ordering behavior in capacitated supply chains
(joint with Häussler, S., Klotz, A., Schneckenreither, M.). Under Review.

Dishonesty in Networks in an Experience Goods Market
(joint with Kerschbamer, R., Sutter, M.).

  Presentations

ZEW Workshop on Market Design 2019, Mannheim. Experimental Finance Conference 2019, Copenhagen. Euregio Workshop 2019, Trento. Conference on Decision Science 2018, Konstanz. Experimental Finance Conference 2018, Heidelberg. Workshop on Experimental Finance, Bonn 2018. Research Seminar Max Planck Institute 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. Meeting 'Organizations and Society' 2013, Innsbruck.  Experimental Finance 2012, Luxembourg. 

  Media Coverage

Moral und Strafe, Die Presse, ntv.de, orf.at, 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

  Ad-hoc Referee

Management Science, Journal of Public Economics, European Economic Review, Journal of Economic Behavior
and Organization, International Economic Review, Experimental Economics, Journal of Economic
Psychology, Southern Economic Journal, Journal of Behavioral and Experimental Economics, Journal of Behavioral and Experimental Finance, Credit and Capital Markets

  Grants, Prices, and Awards

Young Scientist Grant, University of Innsbruck, 2018

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

  Teaching

University of Innsbruck (Bachelor and Master): Financial Management I, Financial Management II, Entrepreneurial Decision-Making, Reflections on Ethics and Methodology  

Other: Behavioral Finance in Theory and Practice (Advanced Education for Banking Staff, Raiffeisen South Tyrol), FiT - Financial Training for High School Students using Experimental Economics  (Razen, M., Huber, J., Hueber, L., Kirchler, M. and AK Tirol)

  Appointments and Education

  Appointments

  Research Visits

1-3   2020 | Chapman University, California

06    2019 | University of Gothenburg

02    2018 | Max Planck Institute, Bonn

09    2016 | Chapman University, California

  Education