Chair of Behavioral Economics
Chairholder
Research
In my research in the field of behavioral economics, I investigate the complex interplay between ethical decisions and economic incentives. My focus is on understanding how economic systems and incentive structures in organizations influence ethical considerations. A particular focus of my work is the role that artificial intelligence (AI) and trust in technology play in this.
My research covers the following core topics:
- Incentives: I analyze how different incentive systems influence ethical decision-making, especially in situations where economic and ethical considerations are in conflict.
- Team dynamics: I examine the impact of team structures and processes on ethical and unethical behavior in organizations.
- Feedback: I focus on the role of feedback mechanisms and their influence on ethical behavior and the performance of individuals in organizational contexts.
- AI and trust: A key focus is understanding the interaction between humans and AI, in particular how trust can be established and maintained in AI systems and what ethical implications this has for decision-making processes in organizations.
Through the use of field and laboratory experiments, my research aims to gain insights into human behavior and shed light on the often conflicting relationships between economic goals and ethical values. I aim to provide both theoretical insights and practical recommendations to help organizations find a balance between economic interests and ethical principles.
Teaching
WHU students aspire to leadership positions in business and society. In these positions, students will face dilemmas that put pressure on their personalities and values. Faced with these challenges, my teaching follows the principle of “Giving Voice to Values”. A principle that encourages students to express their values in business and thus contribute to a humane economy.
I also believe that future leaders should be able to make management decisions based on solid evidence. It is therefore crucial that I equip managers with the most advanced techniques for causal inference. I strongly believe that the best way for students to learn these methods is to try them out and do them themselves. Therefore, my courses include a large amount of group interaction, discussion, and field work.
Behavioral Economics
Behavioral economics is an interdisciplinary field that combines insights from psychology and economics to study how individuals behave in economic contexts, particularly when their actions deviate from the predictions of traditional economic theories. It recognizes that people are not always rational due to cognitive biases, emotions, and social influences. Behavioral economics aims to provide a precise and objective depiction of economic decision-making. This is essential for understanding and predicting market trends, consumer behavior, and informing economic policy. In my course we focus on selected topics that illustrate why and how people often make irrational economic decisions. These topics provide insights into the psychological factors influencing financial behaviors, offering a deeper understanding of individual and market dynamics.
Behavioral Ethics
Not a day goes by without new revelations of a major corporate scandal. In this course, students will address the following questions: “What causes individuals to engage in (un)ethical behavior?”; “How can we enable ourselves not to fall prey to our ethical blind spots?”; “What measures can a company take to prevent future corporate scandals? We approach most of these questions from an empirical standpoint, trying to form a holistic understanding of human nature and how to incorporate this understanding into daily business practice.
Sustainability in the Textile Industry
Sustainable development and sustainable management are increasingly embedded into new business models and strategies that meet environmental, societal, and governmental goals. The textile industry belongs to one of the most pollutant industry on the planet with major challenges for sustainable management. In this course students discuss these challenges and develop strategies to foster more sustainable behavior among consumers and firms.
Field Experiments in Organizations
Since companies are gathering more and more data about their stakeholders, they usually lack a coherent understanding of how to use it for the improvement of their processes. For this course I focus on potentially the most powerful empirical method for causal inference: field experiments. Students learn how to plan, design, and analyze field experiments in organizations.