Ernst Fehr

Ernst Fehr (2010)

Ernst Fehr (born June 21, 1956 in Hard , Vorarlberg ) is an Austrian - Swiss economist . He is Professor of Microeconomics and Experimental Economic Research at the Institute for Economics at the University of Zurich .

His research covers the areas of the development of human cooperation and sociality, in particular fairness, reciprocity and limited rationality (behavioral economics ). He is also known for his contributions to the new field of neuroeconomics as well as behavioral finance and experimental economics . After IDEAS / RePEc he is the second most influential German-speaking economist, e.g. B. ranked 99th worldwide in September 2011. In 2015 his name appears for the first time in the FAZ economists ranking of the most influential economists in Germany (2nd place). In Switzerland he leads the NZZ Economists Influence Ranking of the best economists in Switzerland since 2014.

In 2016, Fehr tops the list of the most influential economists in Germany ( FAZ economists ranking ), Austria (press economists ranking ) and Switzerland (NZZ economists ranking ).

Fehr has been on the Thomson Reuters Citation Laureates list for economics since 2009 .

Life

Fehr studied economics at the University of Vienna from 1975 to 1980 and graduated with a master's degree . Between 1980 and 1982 he worked as a research assistant at Alexander Van der Bellen 's chair ; During this time he also attended courses at the Institute for Advanced Studies . This was followed in 1982 by an assistant professorship at the Vienna University of Technology (chair of Helmut Frisch ), which he held until 1991. Between 1988 and 1989 Fehr also held a research position at the London School of Economics .

Fehr received his doctorate in 1986 and finally habilitated in June 1991 . From 1991 to 1994 he was an associate professor at the Technical University of Vienna, from 1993 he was also director of the Ludwig Boltzmann Institute for Research in Economic Growth (until 2003). Since 1994 he has been a full professor of microeconomics and experimental economic research at the University of Zurich , where he also served as director of the Institute for Economics, which was created in 2011, until 2015. Fehr has turned down numerous appointments from renowned universities, including the University of Bonn , the University of California, Berkeley , the University of Cambridge and the University of Oxford . From 2003 to 2005 he was also President of the Economic Science Association .

Ernst Fehr founded in 2010, with his brother, Gerhard Fehr, FehrAdvice & Partners AG, the world's first economic and business consulting firm that specializes in behavioral economics ( behavioral economics has specialized). Fehr is a member of the Board of Directors of FehrAdvice & Partners. In 2016, as part of the Digital News Initiative (DNI), a promising publishing project from Russmedia was financed by Google , which is based on the behavioral economic findings of Fehr and the business consultancy FehrAdvice.

He is also the initiator and president of the Board of Trustees of the Excellence Foundation Zurich for Economic and Social Research, which aims to promote “socially relevant top-class economic research” at the University of Zurich. Fehr has been director of the UBS International Center of Economics in Society since 2012 . The UBS Center is an associated institute of the University of Zurich. It finances economic research at the Institute for Economics at the University of Zurich.

Fehr is married and has two children. He lives in Zurich , where he was naturalized in 2018 . He is an Austrian-Swiss dual citizen .

Memberships

In 2017, Fehr was elected a lifelong foreign honorary member of the American Economic Association , AEA, together with the economics professor Philippe Aghion, who conducts research at Harvard University . The number of honorary members is limited. The election is made by the Executive Committee of the American Economic Association and only takes place if a previous honorary member dies.

Fehr is an honorary member of the American Academy of Arts and Sciences , a member of the American Academy of Political and Social Sciences , the Academia Europaea , the Leopoldina and the Econometric Society , an external member of the economics faculty of the Massachusetts Institute of Technology and since 2011 Global Distinguished Professor in Economics at from New York University . In 2016 he was elected as a corresponding member of the Austrian Academy of Sciences .

In the Handelsblatt Ökonomen Ranking 2011, which analyzes the research performance of economists from Germany, Austria and German-speaking Switzerland, Fehr came third in both the “Current Research Achievement (since 2007)” and the “Top 250 Lifetime Achievement” category Space.

Scientific contributions

Fehr's scientific work includes, on the one hand, contributions to research into people's social preferences ( behavioral economics ) and, on the other hand, contributions to research into the human brain in summary with economic decisions ( neuroeconomics ). In addition, Fehr deals with the psychological foundations of incentive systems, the effects of different social identities on human behavior, in particular honesty and the voluntary willingness to contribute to public goods.

In addition, Fehr played a key role in the development of the Market Adjusted Performance Indicator (MAPI) , a relative performance indicator based on the Informativness Principle by Bengt Holmström , Nobel Laureate in Economics in 2016, for measuring the top management performance of listed companies. On the one hand, the MAPI is used to determine the variable remuneration in top management. On the other hand, the MAPI is an indicator of whether the principal-agent problem in corporate governance or corporate management of listed companies has been solved to some extent.

The remuneration model of the Liechtensteinische Landesbank (LLB Group), which was voted the best remuneration model for companies listed in Switzerland in 2016 by the Swiss Institute of Directors , was developed in cooperation with the business consultancy FehrAdvice & Partners AG and Ernst Fehr. The remuneration system is based on the behavioral economic research results of Fehr, in particular the MAPI.

Prizes and awards

• 2017: Oskar Morgenstern Medal from the University of Vienna
• 2016: Honorary doctorate from the University of Graz
• 2016: Cardinal Innitzer Prize in the humanities category
• 2013: Gottlieb Duttweiler Prize
• 2012: Austrian Decoration of Honor for Science and Art
• 2011: Vorarlberg Science Prize
• 2010: Gustav-Stolper-Preis of the Verein für Socialpolitik
• 2008: Marcel Benoist Prize
• 2004: Cogito Prize from the Cogito Foundation
• 1999: Gossen Prize from the Association for Social Policy

Works (selection)

• Ernst Fehr and Armin Falk : Psychological foundations of incentives. In: European Economic Review. Vol. 46, No. 4-5 (2002), pp. 687-724. doi: 10.1016 / S0014-2921 (01) 00208-2 (freely available as working paper: doi: 10.3929 / ethz-a-004374228 )
• Ernst Fehr and Urs Fischbacher : The nature of human altruism. In: Nature. Vol. 425, 2003, pp. 785-791. doi: 10.1038 / nature02043
• Ernst Fehr and Simon Gächter : Cooperation and punishment in public goods experiments. In: American Economic Review. Vol. 90, No. 4, 2000, pp. 980-994. doi: 10.1257 / aer.90.4.980
• Ernst Fehr and Simon Gächter: Fairness and Retaliation: The Economics of Reciprocity. In: Journal of Economic Perspectives. Vol. 14, No. 3, 2000, pp. 159-181. doi: 10.1257 / jep.14.3.159
• Ernst Fehr, Georg Kirchsteiger and Arno Riedl: Does fairness prevent market clearing? An experimental investigation. In: Quarterly Journal of Economics. Vol. 108, No. 2, 1993, pp. 437-459. doi: 10.2307 / 2118338
• Ernst Fehr and Klaus M. Schmidt: A theory of fairness, competition, and cooperation. In: Quarterly Journal of Economics. Vol. 114, No. 3, 1999, pp. 817-868. doi: 10.1162 / 003355399556151 .
• Ernst Fehr and Gerhard Schwarz (eds.): Psychological foundations of the economy. 3rd edition. Verlag Neue Zürcher Zeitung 2003. ISBN 3-85823-958-5 .
• Ernst Fehr and Jean-Robert Tyran: Does money illusion matter? In: American Economic Review. Vol. 91, No. 5, 2001, pp. 1239-1262. doi: 10.1257 / aer.91.5.1239
• Herbert Gintis, Samuel Bowles, Robert T. Boyd and Ernst Fehr (Eds.): Moral Sentiments and Material Interests. The Foundations of Cooperation in Economic Life. MIT Press 2005. ISBN 978-0-262-07252-6 .
• Paul W. Glimcher, Colin Camerer , Ernst Fehr and Russell Alan Poldrack (Eds.): Neuroeconomics: Decision Making and the Brain. 1st edition Academic Press 2008. ISBN 978-0-12-374176-9 .

literature

• Ernst Fehr in the Munzinger archive ( beginning of article freely available)

Web links

• Literature by and about Ernst Fehr in the catalog of the German National Library
• Ernst Fehr in the catalog of the ZBW - Leibniz Information Center for Economics (ZBW)
• Homepage at the Institute for Economics
• FehrAdvice & Partners website
• Science talk: what is fair? In: The time. No. 31/2009, July 23, 2009. [Interview with Ernst Fehr by Stefan Klein]
• Ernst Fehr: The man who turns the economy off its hinges. SRF 1 , first broadcast on October 10, 2011. [Video, 6 min .; Portrait of Ernst Fehr]
• Markus Diem Meier: What really promotes happiness. Interview in: SonntagsZeitung on July 15, 2018.

Individual evidence

1. ↑ ( Page no longer available , search in web archives: Top 10% Authors, as of September 2011 ), IDEAS / RePEc
2. ↑ “Economists Influence Ranking” 2016 - The complete rankings . nzz.ch. Accessed September 4, 2016
3. ↑ FAZ.net / Patrick Bernau: Hans-Werner Sinn is expanding his influence
4. ↑ FAZ.net / Patrick Bernau: Ernst Fehr at the top of economists [1]
5. ↑ Top 23 - these economists shape Austria / die Presse.com: http://diepresse.com/home/wirtschaft/economist/4813687/Top-23_Diese-Okonomen-praegen-Osterreich
6. ↑ These economists shape the debate in Switzerland / www.nzz.ch: http://www.nzz.ch/wirtschaft/oekonomen-einfluss-ranking-2016-diese-oekonomen-praegen-die-debatte-in-der- switzerland-ld.114203
7. ↑ See also for the following life data CV Ernst Fehr. ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 335 kB) Institute for Economics, University of Zurich, accessed on November 21, 2011.  
8. ^ [2] FehrAdvice & Partners. Retrieved November 21, 2011.
9. ↑ [3] VOL.AT project is supported by Google.
10. ↑ [4] VOL.AT researches the future of digital journalism.
11. ↑ Archived copy ( memento of the original dated November 19, 2016 in the Internet Archive ) Info: The  archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. DNI Innovation Fund: successful applicants for round two announced !.
12. ↑ About us. (No longer available online.) Excellence Foundation Zurich, archived from the original on May 7, 2012 ; Retrieved December 27, 2011 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
13. ↑ management team. UBS International Center, accessed August 12, 2014.
14. ↑ 6 naturalizations. City council resolutions of March 28, 2018. In: Tagblatt der Stadt Zürich of April 4, 2018, p. 39 (PDF).
15. ↑ Ernst Fehr , Internationales Biographisches Archiv 21/2016 of May 24, 2016 (fl). Supplemented by news from MA-Journal until week 14/2018, in the Munzinger archive , accessed on July 18, 2018 ( beginning of article freely available).
16. ^ AER Foreign Honorary Members aeaweb.org , accessed April 15, 2017.
17. ↑ [5] aeaweb.org , April 14, 2017, accessed April 15, 2017.
18. ↑ Handelsblatt Economists Ranking. Handelsblatt .de, September 4, 2011, accessed on November 21, 2011.
19. ^ Reporting Times. reporting-times.com , September 2016, accessed February 16, 2017.
20. ↑ Neue Zürcher Zeitung. nzz.ch , April 21, 2017, accessed on April 22, 2017.
21. ^ Corporate Governance and Relative Performance Compensation. nzz.ch , April 21, 2017, accessed on April 22, 2017.
22. ↑ Expert jury selects LLB's remuneration policy in first place ( memento of the original from March 27, 2017 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Llb.li , accessed on May 26, 2017  
23. ↑ derStandard.at: Oskar Morgenstern Medal for economist Ernst Fehr . Article dated August 29, 2017, accessed September 10, 2017.
24. ^ The economist Ernst Fehr receives an honorary doctorate from the University of Graz . Article dated November 25, 2016, accessed December 30, 2016.
25. ↑ University of Graz honors Jochen Pildner-Steinburg and economist Ernst Fehr . Article dated November 30, 2016, accessed December 30, 2016.
26. ↑ The economist and professor of microeconomics and experimental economic research (60) who teaches in Zurich is honored in the field of humanities.
27. ↑ Ernst Fehr receives the 2013 Gottlieb Duttweiler Prize ( Memento of the original from April 6, 2016 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. fehradvice.com, October 1, 2012, accessed October 1, 2012.  
28. ↑ Ernst Fehr receives the Vorarlberg Science Prize. derStandard.at , April 11, 2011, accessed on November 21, 2011 . 
29. ^ Gustav Stolper Prize, list of award winners . Website of the Verein für Socialpolitik . Retrieved October 24, 2019.
30. ↑ Ernst Fehr receives the Marcel Benoist Prize. NZZ Online , September 29, 2008, accessed on November 21, 2011.
31. ^ Cogito Prize 2004 to Ernst Fehr and Alex Kacelnik. ( Memento of the original from September 1, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
32. ^ Gossen Prize Winner. socialpolitik.org , accessed December 25, 2015 .