Heidelberg University
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Economic Theory IIResearch

Research Interests

Behavioral Economics, Experimental Economics, Evolutionary Game Theory, Learning in Games, Industrial Organization, Urban Economics, Microeconomics and Game Theory in general.  

Publications

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Working Papers
 
On the benefits of robo-advice in financial markets (2023) (with Marco Lambrecht and Simon Weidenholzer)
 
Dissolving an ambiguous partnership (2023) (with Alex Roomets)
 
Journal Articles
 
„Do women shy away from risky skill games?“ (with Marco Lambrecht), Journal of Economic Behavior & Organization, 211, July 2023, 241-250.
 
„The conditional contribution mechanism for repeated public goods - The general case“ (with Andreas Reischmann and Andis Sofianos), Journal of Economic Theory, 203, July 2022, 105488.
 
„The Binary Lottery Procedure does not induce risk neutrality in the Holt and Laury and Eckel and Grossman tasks“ (with Oliver Kirchkamp and Andis Sofianos), Journal of Economic Behavior & Organization, 185, May 2021, 348-369. 
 
„Savage vs. Anscombe-Aumann: an experimental investigation of ambiguity frameworks“ Theory and Decision (with Alex Roomets), 2020.
 
"Copy Trading", Management Science Volume 66 (12), December 2020, Pages 5485-6064 (with Jose Apesteguia and Simon Weidenholzer). 
 
"Measuring Skill and Chance in Games", European Economic Review Volume 127, August 2020 (with Peter Duersch and Marco Lambrecht).  
 
"Hedging, Ambiguity, and the Reversal of Order Axiom", Games and Economic Behavior  Volume 117, September 2019, Pages 380-387 (with Hannes Rau and Alex Roomets).
 
"Managerial bonuses and subordinate mistreatment",  European Economic Review  Volume 119, October 2019, Pages 509-525 (with Nikos Nikiforakis and Anwar Shah).
 
"The Binary Conditional Contribution Mechanism for Public Good Provision in Dynamic Settings - Theory and Experimental Evidence", Journal of Public Economics, 159 (2018), 104-115 (with Andreas Reischmann).
 
"Imitation of Peers in Children and Adults", Games, 9(1), 11, (2018), (with Jose Apesteguia, Steffen Huck, Elke Weidenholzer, and Simon Weidenholzer)
 
"Imitation under Stress", Journal of Economic Behavior & Organization 139 (2017), 252-266 (with Magdalena Buckert and Christiane Schwieren).
 
"From Imitation to Collusion – A Replication",  Journal of the Economic Science Association 2 (2016), 13–21, (with Alex Roomets and Stefan Roth).
 
"A Test of Mechanical Ambiguity",  Journal of Economic Behavior & Organization 119 (2015), 153–162,  (with Alex Roomets). Video of the Galton box: here.
 
"Cooling-Off in Negotiations - Does It Work?", Journal of Institutional and Theoretical Economics Vol. 171, Number 4 (2015), 565-588(24) (with Andreas Roider and Patrick Schmitz).
 
"How do subjects view multiple sources of ambiguity?", Theory and Decision 78 (3) (2015), 339-356 (with Jürgen Eichberger and Wendelin Schnedler).
 
"Premium Auctions and Risk Preferences: An Experimental Study", Games and Economic Behavior, Vol. 87, Issue C (2014), 467-484 (with Christoph Brunner and Audrey Hu).
 
"Unintended Hedging in Ambiguity Experiments", Economics Letters 122 (2014), 243-246 (with Alex Roomets).
 
"Hierarchy, Coercion, and Exploitation: An Experimental Analysis", Journal of Economic Behavior and Organization 97 (2014), 155-168 (with Nikos Nikiforakis and Anwar Shah).
 
"When is tit-for-tat unbeatable?", International Journal of Game Theory, Volume 43, Issue 1 (2014) (with Peter Duersch and Burkhard C. Schipper).
 
"Finitely repeated games with social preferences", Experimental Economics 16(2) (2013), 222-231.
 
"Unbeatable Imitation", Games and Economic Behavior 76 (2012), 88-96 (with Peter Duersch and Burkhard Schipper).
 
"Sick Pay Provision in Experimental Labor Markets", European Economic Review 56(1) (2012), 1-19 (lead article) (with Peter Duersch and Radovan Vadovic).
 
"Pure Strategy Equilibria in Symmetric Two-Player Zero-Sum Games", International Journal of Game Theory 41(3) (2012), 553-564 (with Peter Duersch and Burkhard Schipper).
 
"On the Ingredients for Bubble Formation: Informed Traders and Communication", Journal of Economic Dynamics and Control, 35 (2011), 1831-1851 (with Carsten Schmidt and Wendelin Schnedler).
 
"Mandatory Sick Pay Provision: A Labor Market Experiment",  Journal of Public Economics, 94 (2010) 870–877 (with Stefan Bauernschuster, Peter Duersch, and Radovan Vadovic).
 
"Imitation and the Evolution of Walrasian Behavior: Theoretically Fragile but Behaviorally Robust", Journal of Economic Theory, 145 (2010), 1603-1617 (lead article) (with Jose Apesteguia, Steffen Huck, and Simon Weidenholzer).
 
"Searching beyond the lamppost: Let's focus on economically relevant questions", Journal of Economic Behavior and Organization, 73 (2010), 65-67.
 
"Uniform vs. Discriminatory Auctions with Variable Supply? Experimental Evidence", Games and Economic Behavior, 68 (2010), 60-76 (with Damian S. Damianov and Johannes G. Becker).
 
"Rage Against the Machines: How Subjects Learn to Play Against Computers", Economic Theory, 43 (2010), 407-430 (with Peter Duersch, Albert Kolb,and Burkhard Schipper).
 
"Cognitive Abilities and Behavioral Biases", Journal of Economic Behavior and Organization, 72 (2009), 147-152 (with Andreas Roider and Patrick W. Schmitz).
 
"Incentives for Subjects in Internet Experiments", Economics Letters, 105 (2009), 120-122 (with Peter Duersch and Burkhard Schipper).
 
"Brown-von Neumann-Nash Dynamics: The Continuous Strategy Case", Games and Economic Behavior, 65 (2009), 406-429 (with Josef Hofbauer and Frank Riedel).
 
"Imitation - Theory and Experimental Evidence", Journal of Economic Theory 136 (2007), 217-235  (with Jose Apesteguia and Steffen Huck).  
 
"Herding with and without Payoff Externalities - An Internet Experiment", International Journal of Industrial Organization 25 (2007), 391-415 (with Mathias Drehmann and Andreas Roider).
 
"Overbidding in Fixed Rate Tenders - An Empirical Assessment of Alternative Explanations", European Economic Review, 50 (2006), 631-646 (with Dieter Nautz).  
 
"Herding and Contrarian Behavior in Financial Markets - An Internet Experiment", American  Economic Review 95(5), December (2005) (with Mathias Drehmann and Andreas Roider), 
 
"Learning to Like What You Have - Explaining the Endowment Effect", Economic Journal, 115 (2005), 689-702 (with Steffen Huck and Georg Kirchsteiger). Press reports (Times, SZ, RNZ).
 
"GLAD: A simple adaptive strategy that yields cooperation in dilemma games", Physica D: Nonlinear Phenomena, 2005, Vol. 200, 133-138 (with Steffen Huck and Hans-Theo Normann).
 
"Through Trial & Error to Collusion", International Economic Review 45 (2004), 205-224 (with Steffen Huck and Hans-Theo Normann).
 
"The Limited Liability Effect in Experimental Duopoly Markets", International Journal of Industrial Organization 22 (2004), 163-184 (with Frank Schuhmacher).
 
"Two are Few and Four are Many: Number Effects in Experimental Oligopoly", Journal of Economic Behavior and Organization 53 (2004), 435-446 (with Steffen Huck and Hans-Theo Normann).
 
"The Repo Auctions of the European Central Bank and the Vanishing Quota Puzzle", Scandinavian Journal of Economics 105 (2003), 207-220 (with Dieter Nautz).
 
"Zero-Knowledge Cooperation in Dilemma Games", Journal of Theoretical Biology 220 (2003), 47-54 (with Steffen Huck and Hans-Theo Normann).
 
"Can You Guess the Game You're Playing?", Games and Economic Behavior 43 (2003), 137-152 (with Burkhard Schipper).
 
"Intentions Matter: Lessons from Bargaining Experiments - Comment", Journal of Institutional and Theoretical Economics 159 (2003), 195-198.
 
"On the Dynamic Foundation of Evolutionary Stability in Continuous Models", Journal of Economic Theory 107 (2002), 223-252 (with Frank Riedel).  
 
"Stability of the Cournot Process - Experimental Evidence", International Journal of Game Theory 31 (2002), 123-136 (with Steffen Huck and Hans-Theo Normann). 
 
"Cooperation as a Result of Learning with Aspiration Levels", Journal of Economic Behavior and Organization 49 (2002), 405-409.
 
"Divide et Impera: Strategic Underpricing in Privatizations", Public Choice 108 (2001), 207-222 (with Pio Baake). 
 
"Evolutionary Dynamics on Infinite Strategy Spaces", Economic Theory  17 (2001) 1, 141-162 (with Frank Riedel).
 
"Market Volatility and Inequality in Earnings - Experimental Evidence", Economics Letters 70 (2001), 363-368 (with Steffen Huck and Hans-Theo Normann).
 
"Informational Cascades in the Laboratory: Do They Occur for the Right Reasons?", Journal of Economic Psychology 21 (2000), 661-671 (with Steffen Huck).
 
"Does Noise Undermine the First-Mover Advantage? An Evolutionary Analysis of Bagwell's Example", International Game Theory Review 2 (2000), 83-96 (with Karl Schlag).
 
"Does Information about Competitors' Actions Increase or Decrease Competition in Experimental Oligopoly Markets?", International Journal of Industrial Organization 18 (2000), 39-57 (with Steffen Huck and Hans-Theo Normann).
 
"The Indirect Evolutionary Approach to Explaining Fair Allocations", Games and Economic Behavior 28 (1999), 13-24 (with Steffen Huck).
 
"Learning in Cournot Oligopoly - An Experiment", Economic Journal, 109 (1999), C80-C95 (with Steffen Huck and Hans-Theo Normann).
 
"Explaining Cross-Supplies", Journal of Economics, 70 (1999), 37-60 (with Pio Baake and Christoph Schenk). 
 
"Competition among Conventions", Mathematical and Computational Organization Theory, 5 (1999), 31-44. 
 
"Informational Cascades with Continuous Action Spaces", Economics Letters, 60 (1998), 163-166 (with Steffen Huck). 
 
"An Evolutionary Interpretation of Mixed Strategy Equilibria", Games and Economic Behavior, 21 (1997), 203-237. 
 
"Decentralization and the Coordination Problem", Journal of Economic Behavior and Organization, 32 (1997), 119-135.
 
"The Absent-Minded Centipede", Economics Letters, 55 (1997), 309-316 (with Uwe Dulleck).
 
"Product Differentiation and the Intensity of Price Competition", Zeitschrift für Wirtschafts- und Sozialwissenschaften (ZWS), 117 (1997), 247-256 (with Pio Baake). 
 
"Kann man lernen, gemischt zu spielen? - Ein evolutionärer Ansatz", Homo Oeconomicus, XII(1/2) (1995).
 
"The City vs. Firm Subsidy Game", Regional Science and Urban Economics, 24 (1994), 391-407. 
 
Book Reviews
 
"Individual Strategy and Social Structure - An Evolutionary Theory of Institutions“ by H. Peyton Young, Journal of Economics 70, (1999), 335-337.
 

Past and present research projects

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2015-2018
Online Gaming: An economic analysis
Deutsche Forschungsgemeinschaft (DFG)
 SoSe 2012 - WiSe 2012/13
Project „Information“
Marsilius Kolleg, Fellow
2011-2013
Is Imitation unbeatable?
Frontier Project
2006-2008
Behavioral Industrial Organization
Project B8 in SFB 504
2006-2008
The experimental laboratory in Mannheim
Project Z2 in SFB 504
 2007-2009
Goals and Preferences
Project Neuroeconomics in the research training programme 
2003-2005
Experimental Analysis of Rational and Boundedly Rational Theories of Market Behaviour
Project C4 in TR/SFB 15,  funded by the DFG
2003-2004
Experimental Analysis of Rational and Boundedly Rational Theories of Market Behaviour
Grant by the Deutsche Forschungsgemeinschaft (DFG)
2000-2003
Experimental Test of Learning Theories: Imitation and Trial & Error
Grant by the Deutsche Forschungsgemeinschaft (DFG)

In the press

Table

Jörg Oechssler im Interview mit dem "Tagesspiegel": "Der Dax ist ein historischer Zufall".
Bericht im Handelsblatt zum Paper über Spekulationsblasen von Jörg Oechssler, Carsten Schmidt und Wendelin Schnedler.
Paper
Jörg Oechssler im Interview mit "Spektrum der Wissenschaft": „Spekulationsblasen im Labor“ (S. 73).
Die Tageszeitung Le Monde über die Studie „Cooling-Off in Negotiations - Does It Work?“ von Jörg Oechssler, Andreas Roider und Patrick Schmitz.
Wirtschaftswoche über den Aufsatz von C. Schwieren und D. Weichselbaumer “Does Competition Enhance Performance or Cheating? A Laboratory Experiment”
Paper
Frankfurter Allgemeine Sonntagszeitung über den Artikel „Herding and Contrarian Behavior in Financial Markets – An Internet Experiment“ von M. Drehmann, J. Oechssler, und A. Roider im American Economic Review.
Paper
Presseberichte (Times, SZ, RNZ…) zu der Veröffentlichung von Steffen Huck, Georg Kirchsteiger und Jörg Oechssler im Economic Journal “Learning to Like What You Have - Explaining the Endowment Effect”
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