Asymmetric Information

In the “Asymmetric Information” research lab MCI’s researchers investigate specific situations of asymmetric information which are highly relevant for businesses operating in a regional, national and international environment.


By combining approaches from the fields of economics, ethics and law, our highly interdisciplinary research helps us to develop applied novel concepts which can be directly transferred into practice. In order to achieve these aims members of the lab collaborate with researchers and specialists from renowned partner organizations.


Considering its strategic positioning and the strong network, in which the members of the research lab are operating, the research lab has a high potential of considerable growth.

 

Contact
Simon Czermak
FH-Prof. Dr. Simon Czermak Senior Lecturer +43 512 2070 - 3635

Behavioral Economics – Experimental Economics

Models in traditional economics assume that human decision making is based on rationality and own utility maximization. Based on that general assumption, studies in the field of behavioral economics study real human decision making in situations which are economically relevant.

Such empirical investigations are often conducted by the use of experimental methods. In this context typical laboratory experiments with a high degree of control regarding the cause-effect relationship can be distinguished from field experiments, which include elements of real decision making.

 

Behavioral Ethics

A lot of decisions which are made in an economic context are highly relevant with respect to ethics. The field of Behavioral Ethics investigates those aspects of human decision making which are important from an ethical viewpoint. Research conducted in the framework of the asymmetric information lab for instance deals with elements of dishonesty or sabotage.

 

Behavioral and Experimental Finance

Financial markets are an integral part of a functioning and efficient economy. They help to ensure an efficient supply of enterprises, private households, and the public sector with financial resources. Regulatory measures in the banking and financial industry aim at increasing the confidence in the stability of this sector.

Within the framework of the research lab we conduct studies investigating the effects of insider trading legislation on markets and traders. Applying the experimental method to questions arising in this area offers the advantage of allowing the researcher to investigate situations characterized by asymmetric information distribution.

 

Ethics and EU law

Asymmetric information can lead to both legal as well as ethical challenges. This holds true not only for decision-making and lobbyists, but also for asymmetrical available information of healthcare providers on the one side, and patients on the other (e.g. Directive 2011/24/EU), to name but two examples.

This area of expertise closely cooperates with the Jean Monnet Chair “European integration & ethics”, kindly co-financed by the European Commission (for further details see https://jeanmonnet.mci.edu/).

 

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