Stefan TrautmannPublications

Data, Instructions, and Online Appendices

Data, instructions and other supplementary material for the studies listed on this page can be found on the AWI HeiDATA repository or OSF data repository (see list of publications).

Data on HeiDATA RepositoryData on OSF


König-Kersting, C., C. Kops, and S.T. Trautmann (2023). A Test of (Weak) Certainty Independence. Journal of Economic Theory 209, 105623. [OSF]

Trautmann, S. T. (2023). Procedural Fairness and Equality of Opportunity. Journal of Economic Surveys, forthcoming.

Kling, L., C. König-Kersting, and S. T. Trautmann (2023). Investment Preferences and Risk Perception: Financial Agents versus Clients. Journal of Banking and Finance, forthcoming. [OSF]

Schmidt, R. and S. T. Trautmann (2023). Implementing (Un)fair Procedures? Favoritism and Process Fairness when Inequality is Inevitable. Journal of Law, Economics and Organization 39,  199–234. [HeiDATA]

Gsottbauer, E., D. Müller, S. Müller, S. T. Trautmann, and G. Zudenkova (2022). Social Class and (Un)ethical Behavior: Causal and Correlational Evidence. Economic Journal, 132, 2392–2411.

Becker, C. K., and S. T. Trautmann (2022). Does Happiness Increase in Old Age? Longitudinal evidence from 20 European Countries. Journal of Happiness Studies 23, 3625–3654. [HeiDATA]

König-Kersting, C., S.T. Trautmann, and R. Vlahu (2022). Bank instability: Interbank linkages and the role of disclosure. Journal of Banking and Finance 134, 106353. [OSF]

Trautmann, S.T., Y. Xu, C. König-Kersting, B. N. Patenaude, G. Harling, A. Sié, and Till Bärnighausen (2021). Value of Statistical Life Year in extreme poverty: A randomized experiment of measurement methods in rural Burkina Faso. Population Health Metrics 19, article 45. [HeiDATA]

Becker, C. K., E. Ert, S. T. Trautmann, and G. van de Kuilen (2021). Experiencing Risk: Higher-order Risk Attitudes in Description- and Experience-based Decisions. Journal of Experimental Psychology: Learning, Memory & Cognition 47, 727-746. [HeiDATA]

König-Kersting, C., M. Pollmann, J. Potters, and S. T. Trautmann (2021). Good decision vs. good results: Outcome bias in the evaluation of financial agents. Theory and Decision 90, 31-61. [HeiDATA]

Fehr, D., H. Rau, S. T. Trautmann, and Y. Xu (2020). Inequality, Fairness and Social Capital. European Economic Review 129, 103566. [HeiDATA]

Özgümüs, A., H. A. Rau, S. T. Trautmann, and C. König-Kersting (2020). Gender Bias in the Evaluation of Teaching Materials. Frontiers in Psychology 11, article 1074. [OSF]

Trautmann, S.T. (2019). Distance from a Distance: The Robustness of Psychological Distance Effects. Theory and Decision 87, 1–15. [HeiDATA]

Becker, C., I. Kirchmaier, and S. T. Trautmann (2019). Marriage, Parenthood and Social Network: Subjective Well-Being and Mental Health in Old Age. PLOS ONE 14, e0218704.  [HeiDATA]

Kocher, M., D. Schindler, S. T. Trautmann and Y. Xu (2019). Risk, Time Pressure, & Selection Effects. Experimental Economics 22, 216–246. [HeiDATA]

Dengler, S., R. Gerlagh, S. T. Trautmann, and G. van de Kuilen (2018). Climate Policy Commitment Devices. Journal of Environmental Economics and Management 92, 331–343. [HeiDATA]

König-Kersting, C. and S. T. Trautmann (2018). Countercyclical Risk Aversion:  Beyond Financial Professionals. Journal of Behavioral and Experimental Finance 18, 94–101. [HeiDATA]

Kirchmaier, I., J. Prüfer, and S. T. Trautmann (2018). Religion, Moral Attitudes, and Economic Behavior. Journal of Economic Behavior and Organization 148, 282–300. [HeiDATA]

Trautmann, S.T., and G. van de Kuilen (2018). Higher Order Risk Attitudes: A Review of Experimental Evidence. European Economic Review 103, 108–124.

Trautmann, S.T., and P.P. Wakker (2018). Making the Anscombe-Aumann approach to ambiguity suitable for descriptive applicationsJournal of Risk and Uncertainty 56, 83–116. [HeiDATA]

Kocher, M. G., A. Lahno, and S. T. Trautmann (2018). Ambiguity aversion is not universal. European Economic Review 101, 268–283. [HeiDATA]

Brown, M., S.T. Trautmann, and R. E. Vlahu (2017). Understanding Bank-Run Contagion. Management Science 63, 2272–2282. [HeiDATA]

Krawczyk, M., S. T. Trautmann, and G. van de Kuilen (2017). Catastrophic Risk: Social Influences on Insurance Decisions. Theory and Decision 82, 309–326. [HeiDATA]

Trautmann, S.T., and G. van de Kuilen (2016). Process fairness, outcome fairness, and dynamic consistency: Experimental evidence for risk and ambiguity. Journal of Risk and Uncertainty 53, 75–88. [HeiDATA]

König-Kersting, C. and S. T. Trautmann (2016). Ambiguity Attitudes in Decisions for Others. Economics Letters 146, 126–129. [HeiDATA]

Roth, B., S.T. Trautmann, and A. Voskort (2016). The role of personal interaction in the assessment of risk attitudes. Journal of Behavioral and Experimental Economics 63, 106–113. [HeiDATA]

Trautmann, S. T., and G. van de Kuilen (2015). Belief Elicitation: A Horse Race among Truth Serums. Economic Journal 125, 2116-2135.  [HeiDATA]

Kocher, M. G., J. Pahlke, and S.T. Trautmann (2015). An Experimental Study of Precautionary Bidding. European Economic Review 78, 27-38. [HeiDATA]

Trautmann, S. T. and G. van de Kuilen (2015). Reserve Price and Competing Bids: Reference Points for Product Evaluations in Online Auctions? Journal of Consumer Behaviour 14, 285–296. [HeiDATA]

Trautmann, S.T. (2014). Risk taking under stress: The role(s) of self-selection. A comment on Buckert et al. (2014). Frontiers in Neuroscience, article 197.

Pollmann, M., J. Potters, and S.T. Trautmann (2014). Risk taking by agents: The role of ex-ante and ex-post accountability. Economics Letters 123, 387−390. [HeiDATA]

Ert, Eyal, and S.T. Trautmann (2014). Sampling Experience Reverses Preferences for Ambiguity. Journal of Risk and Uncertainty 49, 31-42.

Noussair, C.N., S.T. Trautmann, and G. van de Kuilen (2014). Higher Order Risk Attitudes, Demographics, and Financial Decisions. Review of Economic Studies 81, 325−355. [HeiDATA]

Schmidt, U. and S.T. Trautmann (2014). Common Consequence Effects in Pricing and Choice. Theory and Decision 76, 1−7.

Trautmann, S.T. (2013). Empirical Knowledge in Legislation and Regulation: A Decision Making Perspective. The Theory and Practice of Legislation (formerly: Legisprudence) 1, 533−542.

Noussair, C.N., S.T. Trautmann, G. van de Kuilen, and N. Vellekoop (2013). Risk Aversion and Religion. Journal of Risk and Uncertainty 47, 165–183.

Boksem, M.A.S, P.H. Mehta, B. van den Bergh, V. van Son, S. T. Trautmann, K. Roelofs, A. Smids, and A. G. Sanfey (2013). Testosterone Inhibits Trust, But Promotes Reciprocity. Psychological Science 24, 2306–2314.

Kocher, M., J. Pahlke, and S. T. Trautmann (2013). Tempus Fugit: Time Pressure in Risky Decisions. Management Science 59, 2380–2391. [HeiDATA]

Trautmann, S. T., G. van de Kuilen, and R. J. Zeckhauser (2013). Social Class and (Un)ethical Behavior: A Framework, With Evidence From a Large Population Sample. Perspectives on Psychological Science 8, 487–497.

Trautmann, S. T. and R. J. Zeckhauser (2013). Shunning Uncertainty: The Neglect of Learning Opportunities. Games and Economic Behavior 79, 44–55.

Kocher, M. G. and S. T. Trautmann (2013). Selection into Auctions for Risky and Ambiguous Prospects. Economic Inquiry 51, 882–895.

Sutter, M., M. Kocher, D. Rützler, and S. T. Trautmann (2013). Impatience and Uncertainty: Experimental Decisions Predict Adolescents’ Field Behavior. American Economic Review 103, 510–531.

Trautmann, S. T. and R. E. Vlahu (2013). Strategic Loan Defaults and Coordination: An Experimental Analysis. Journal of Banking and Finance 37, 747–760.

Akay, A., P. Martinsson, H. A. Medhin, and S. T. Trautmann. (2012). Attitudes toward uncertainty among the poor: An experiment in rural Ethiopia. Theory and Decision 73, 453–464.

Trautmann, S. T. and U. Schmidt (2012). Pricing risk and ambiguity: The effect of perspective takingQuarterly Journal of Experimental Psychology 65, 195–205.

Trautmann, S. T. and G. van de Kuilen (2012). Prospect Theory or Construal Level Theory? Diminishing Sensitivity vs. Psychological Distance in Risky Decisions. Acta Psychologica 139, 254–260. [HeiDATA]

Trautmann, S. T., F. M. Vieider and P. P. Wakker (2011). Preference Reversals for Ambiguity Aversion. Management Science 57, 1320–1333. 

Trautmann, S. T. (2010). Individual Fairness in Harsanyi’s Utilitarianism: Operationalizing All-Inclusive Utility. Theory and Decision 68, 405–415.

Trautmann, S. T. and C. Traxler (2010). Reserve prices as reference points – Evidence from auctions for football players at Hattrick.org. Journal of Economic Psychology 31, 230–240.

Trautmann, S. T. and P. P. Wakker (2010). Process Fairness and Dynamic Consistency. Economics Letters 109, 187–189.  

Trautmann, S. T. (2009). A Tractable Model of Process Fairness under Risk. Journal of Economic Psychology 30, 803–813.

Trautmann, S. T., F. M. Vieider and P. P. Wakker (2008). Causes of Ambiguity Aversion: Known versus Unknown Preferences. Journal of Risk and Uncertainty 36, 225-243.

Review chapters and other book contributions

Trautmann, S.T. (2022). Religion and Economic Preferences. In: K. Zimmermann (ed.), Handbook of Labor, Human Resources and Population Economics. Springer, Cham.

Trautmann, S.T. (2022). Ambiguity, Experience, and Unforeseen Events in Experimental Finance. In: E. Haruvy and S. Füllbrunn (eds.), Handbook of Experimental Finance, Chapter 5, 54–63, Edward Edgar Publishing.

Krawczyk, M., S. T. Trautmann, and G. van de Kuilen (2017). Peer effects in catastrophic risk insurance take-up. In: T. Tyszka and P. Zielonka (eds.), Large Risks with Low Probabilities, IWA Publishing, London, Chapter 8, 141–156.

Trautmann, S.T. and B. Zia (2015). Household Finance. World Development Report 2015: Mind, Society, and Behavior. Chapter 6. Washington, DC: The World Bank.

Trautmann, S. T., and G. van de Kuilen (2015). Ambiguity Attitudes. In: G. Keren and G. Wu (eds.), The Wiley Blackwell Handbook of Judgment and Decision Making, Blackwell, Chapter 3, 89-116. [HeiDATA]

Trautmann, S. T. and F.M. Vieider (2012). Social Influences on Risk Attitudes: Applications in Economics. In: S. Roeser (ed.), Handbook of Risk Theory, Springer, Chapter 22, 575–600.

Book reviews

Trautmann, S. T. and C. Conrad (2019). Book Review: A Crisis of Beliefs – Investor Psychology and Financial Fragility, by Nicola Gennaioli and Andrej Shleifer. Journal of Economic Psychology, article 102201.

Trautmann, S.T. (2016). Book Review: Risky Curves: On the empirical failure of expected utility, by Daniel Friedman, R. Mark Isaac, Duncan James, and Shyam Sunder. Journal of Economic Psychology 53, 178-179.

Nienass, B. and S. T. Trautmann (2015). Book Review: What about me? The struggle for identity in a market-based society, by Paul Verhaeghe. Journal of Economic Psychology 49, 205-206.

Nienass, B. and S. T. Trautmann (2014). Book Review: Money, Blood and Revolution, by George Cooper. Journal of Behavioral and Experimental Economics 52, 4–5. [a thoughtful reply by George Cooper]

Nienass, B. and S. T. Trautmann (2013). Book Review: How much is enough? Money and the good life, by Robert Skidelsky and Edward Skidelsky. Journal of Socio-Economics 45, 94–95. [book review discussed in HuffPost]

Trautmann, S.T. (2012). Book Review: Engineering happiness – a new approach for building a joyful life, by Manel Baucells and Rakesh Sarin. Journal of Economic Psychology 33, 1269–1270.

Policy summaries

Socioeconomic status and unethical behaviour: High expectations rather than poor morals. VOX, December 12, 2022

Editorial: Contagious risks: Perception, behavior, and management − Lessons from the Covid-19 pandemic. Frontiers in Psychology, 835088 (with E. Ert, and T. Melkonyan).

Updating subjective probabilities in the early days of COVID-19. In: Dan Levy, Maxims for Thinking Analytically: The Wisdom of Legendary Harvard Professor Richard Zeckhauser, 2021, 78-79.

Nicht jeder wünscht sich einen Staat der stupst. Interview, BfR2GO 1/2018, June 2018, 20–21.  (Not everyone wants a state that nudges [English edition Bfr2Go]) 

‘Truth serums’: Measuring people’s expectations in economic surveys. VOX, April 24, 2016 (with G. van de Kuilen)

Does money make you mean? Contribution to BBC World Service Broadcast, March 16, 2015. 

Exploring the transmission channels of contagious bank runs. VOX, April 10, 2014 (with M. Brown and R. E. Vlahu)

Cognitive skills, self-control, and life outcomes: The early detection of at-risk youth. VOX, April 16, 2012 (with M. G. Kocher, D. Rützler, and M. Sutter)

Borrower runs: Behavioral motives and their policy implications. VOX, August 28, 2011 (with R. E. Vlahu)