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Univ. of Cologne | Department of Economics

Selected Publications

2025

Berger, L. M., Kerkhof, A., Mindl, F., & Münster, J. (2025). Debunking “fake news” on social media: Immediate and short-term effects of fact-checking and media literacy interventions. Journal of Public Economics, 245, 105345. DOI

Ambuehl, S., Ockenfels, A., & Stewart, C. (2025). Who Opts In? Composition Effects and Disappointment from Participation Payments. Review of Economics and Statistics, 107(1), 78–94. DOI

Cramton, P., & Ockenfels, A. (2025). Efficient forward trade fosters innovation, investment, and resiliency. European Economic Review, 180, 105158. DOI

Dertwinkel-Kalt, M., Feldhaus, C., Ockenfels, A., & Sutter, M. (2025). The illusion of moral superiority: Evidence from the energy crisis. European Economic Review, 178, 105093. DOI

Ockenfels, A., Sliwka, D., & Werner, P. (2025). Multirater Performance Evaluations and Incentives. Journal of Labor Economics, 43(4), 985–1004. DOI

Berger, A.N., Chronopoulos, D. K., Sobiech, A.L., & Wilson J. O. S. (2025). Taxation and Bank Liquidity Creation. Journal of Money, Credit and Banking. DOI

Sobiech, A. L., Kgari, L., Nguyen, L., & Wilson, J. O. S. (2025). Implicit guarantees and bank stability: Evidence from a quasi-natural experiment. Journal of International Economics, 155, 104094. DOI

Bortolotti, S., Soraperra, I., Sutter, M., & Zoller, C. (2025). Too Lucky to Be True: Fairness Views under the Shadow of Cheating. Review of Economics and Statistics, 107(3), 771–785. DOI

Glätzle-Rützler, D., Sutter, M., & Zoller, C. (2025). Coordination games played by children and teenagers: On the influence of age, group size, and incentives. Experimental Economics, 28(2), 217–236. DOI

Werner, K., & Skali, A. (2025). Violent conflict and parochial trust: Lab-in-the-field and survey evidence. Journal of Development Economics, 177, 103550. DOI
 

2024

Cinnirella, F., Hornung, E., & Koschnick, J. (2024). Flow of Ideas: Economic Societies and the Rise of Useful Knowledge. The Economic Journal, 135(669), 1496–1535. DOI

Ashraf, Q. H., Cinnirella, F., Galor, O., Gershman, B., & Hornung, E. (2024). Structural Change, Elite Capitalism, and the Emergence of Labour Emancipation. Review of Economic Studies, 92(2), 808–836. DOI

Brodeur, A., Cook, N., & Neisser, C. (2024). p-Hacking, Data type and Data-Sharing Policy. The Economic Journal, 134(659), 985–1018. DOI

Jäger, S., Roth, C., Roussille, N., & Schoefer, B. (2024). Worker Beliefs About Outside Options. The Quarterly Journal of Economics, 139(3), 1505–1556. DOI

Rubio-Ramos, M. (2024). Trust, violence, and coca. Journal of Development Economics, 167, 103216. DOI

Schabert, A. (2024). Taxing versus subsidizing debt under financial frictions. Economic Theory, 79(4), 1383–1420. DOI

Alysandratos, T., Georganas, S., & Sutter, M. (2024). Disentangling Reputation from Selection Effects in Markets with Informational Asymmetries—A Field Experiment. Review of Economics and Statistics, 1–26. DOI 

Kaba, M., Koyuncu, M., Schneider, S. O., & Sutter, M. (2024). Social norms, political polarization, and vaccination attitudes: Evidence from a survey experiment in Turkey. European Economic Review, 168, 104818. DOI 

Praxmarer, M., Rockenbach, B., & Sutter, M. (2024). Cooperation and norm enforcement differ strongly across adult generations. European Economic Review, 162, 104659. DOI

 

2023

Bierbrauer, F. J., Boyer, P. C., & Hansen, E. (2023). Pareto‐Improving Tax Reforms and the Earned Income Tax Credit. Econometrica, 91(3), 1077–1103. DOI

Gürtler, O., Struth, L., & Thon, M. (2023). Competition and risk-taking. European Economic Review, 160, 104592. DOI

Kölle, F., & Wenner, L. (2023). Is Generosity Time-Inconsistent? Present Bias across Individual and Social Contexts. Review of Economics and Statistics, 105(3), 683–699. DOI

Bagues, M., & Roth, C. (2023). Interregional Contact and the Formation of a Shared Identity. American Economic Journal: Economic Policy, 15(3), 322–350. DOI

Bursztyn, L., Egorov, G., Haaland, I., Rao, A., & Roth, C. (2023). Justifying Dissent. The Quarterly Journal of Economics, 138(3), 1403–1451. DOI

Chopra, F., Haaland, I., Roth, C., & Stegmann, A. (2023). The Null Result Penalty. The Economic Journal, 134(657), 193–219. DOI

Chopra, F., Haaland, I., & Roth, C. (2022). Do people demand fact-checked news? Evidence from U.S. Democrats. In Journal of Public Economics (Vol. 205, p. 104549). Elsevier BV. DOI

Haaland, I., & Roth, C. (2023). Beliefs about Racial Discrimination and Support for Pro-Black Policies. The Review of Economics and Statistics, 105(1), 40–53. DOI

Hager, A., Hensel, L., Hermle, J., & Roth, C. (2023). Political Activists as Free Riders: Evidence from a Natural Field Experiment. The Economic Journal, 133(653), 2068–2084. DOI

Link, S., Peichl, A., Roth, C., & Wohlfart, J. (2023). Information frictions among firms and households. Journal of Monetary Economics, 135, 99–115. DOI

Nieken, P., & Schmitz, P. W. (2023). Contracting under asymmetric information and externalities: an experimental study. Experimental Economics, 26(5), 989–1021. DOI

Schmitz, P. W. (2023). The proper scope of government reconsidered: Asymmetric information and incentive contracts. European Economic Review, 157, 104511. DOI

Schottmüller, C. (2023). Optimal information structures in bilateral trade. Theoretical Economics, 18(1), 421–461. DOI

Schmidheiny, K., & Siegloch, S. (2023). On event studies and distributed‐lags in two‐way fixed effects models: Identification, equivalence, and generalization. Journal of Applied Econometrics, 38(5), 695–713. DOI

Angerer, S., Bolvashenkova, J., Glätzle-Rützler, D., Lergetporer, P., & Sutter, M. (2023). Children’s patience and school-track choices several years later: Linking experimental and field data. Journal of Public Economics, 220, 104837. DOI

Barron, K., Harmgart, H., Huck, S., Schneider, S. O., & Sutter, M. (2023). Discrimination, Narratives, and Family History: An Experiment with Jordanian Host and Syrian Refugee Children. Review of Economics and Statistics, 105(4), 1008–1016. DOI 

Charness, G., Cobo-Reyes, R., Eyster, E., Katz, G., Sánchez, Á., & Sutter, M. (2023). Improving children’s food choices: Experimental evidence from the field. European Economic Review, 159, 104562. DOI

Charness, G., Feri, F., Meléndez-Jiménez, M. A., & Sutter, M. (2023). An Experimental Study on the Effects of Communication, Credibility, and Clustering in Network Games. Review of Economics and Statistics, 105(6), 1530–1543. DOI

Fang, X., Goette, L., Rockenbach, B., Sutter, M., Tiefenbeck, V., Schoeb, S., & Staake, T. (2023). Complementarities in behavioral interventions: Evidence from a field experiment on resource conservation. Journal of Public Economics, 228, 105028. DOI 

Grimalda, G., Murtin, F., Pipke, D., Putterman, L., & Sutter, M. (2023). The politicized pandemic: Ideological polarization and the behavioral response to COVID-19. European Economic Review, 156, 104472. DOI

Kerschbamer, R., Neururer, D., & Sutter, M. (2023). Credence goods markets, online information and repair prices: A natural field experiment. Journal of Public Economics, 222, 104891. DOI

Stefan, M., Huber, J., Kirchler, M., Sutter, M., & Walzl, M. (2023). Monetary and social incentives in multi-tasking: The ranking substitution effect. European Economic Review, 156, 104458. DOI

 

2022

Bettzüge, M. O., Hens, T., & Zierhut, M. (2022). Financial intermediation and the welfare theorems in incomplete markets. Economic Theory, 73(2–3), 457–486. DOI 

Bierbrauer, F., Tsyvinski, A., & Werquin, N. (2022). Taxes and Turnout: When the Decisive Voter Stays at Home. American Economic Review, 112(2), 689–719. DOI

Bastani, S., Giebe, T., & Gürtler, O. (2022). Simple equilibria in general contests. Games and Economic Behavior, 134, 264–280. DOI

Alempaki, D., Colman, A. M., Kölle, F., Loomes, G., & Pulford, B. D. (2022). Investigating the failure to best respond in experimental games. Experimental Economics, 25(2), 656–679. DOI

Gächter, S., Kölle, F., & Quercia, S. (2022). Preferences and perceptions in Provision and Maintenance public goods. Games and Economic Behavior, 135, 338–355. DOI

Kölle, F. (2022). Governance and competition. European Economic Review, 148, 104199. DOI

Harrs, S., Rockenbach, B., & Wenner, L. M. (2022). Revealing good deeds: disclosure of social responsibility in competitive markets. Experimental Economics, 25(5), 1349–1373. DOI

Andre, P., Pizzinelli, C., Roth, C., & Wohlfart, J. (2022). Subjective Models of the Macroeconomy: Evidence From Experts and Representative Samples. The Review of Economic Studies, 89(6), 2958–2991. DOI

Andre, P., Pizzinelli, C., Roth, C., & Wohlfart, J. (2022). Subjective Models of the Macroeconomy: Evidence From Experts and Representative Samples. The Review of Economic Studies, 89(6), 2958–2991. DOI

Bursztyn, L., Rao, A., Roth, C., & Yanagizawa-Drott, D. (2022). Opinions as Facts. The Review of Economic Studies, 90(4), 1832–1864. DOI

Chopra, F., Haaland, I., & Roth, C. (2022). Do people demand fact-checked news? Evidence from U.S. Democrats. Journal of Public Economics, 205, 104549. DOI

Roth, C., Settele, S., & Wohlfart, J. (2022). Beliefs about public debt and the demand for government spending. Journal of Econometrics, 231(1), 165–187. DOI

Roth, C., Settele, S., & Wohlfart, J. (2022). Risk Exposure and Acquisition of Macroeconomic Information. American Economic Review: Insights, 4(1), 34–53. DOI

Bredemeier, C., Juessen, F., & Schabert, A. (2022). Why are fiscal multipliers moderate even under monetary accommodation? European Economic Review, 141, 103970. DOI

Schmitz, P. W. (2022). How (Not) to Purchase Novel Goods and Services: Specific Performance Versus at-will Contracts. The Economic Journal, 132(647), 2563–2577. DOI

Settele, S. (2022). How Do Beliefs about the Gender Wage Gap Affect the Demand for Public Policy? American Economic Journal: Economic Policy, 14(2), 475–508. DOI

Alan, S., Corekcioglu, G., & Sutter, M. (2022). Improving Workplace Climate in Large Corporations: A Clustered Randomized Intervention. The Quarterly Journal of Economics, 138(1), 151–203. DOI

Chowdhury, S., Sutter, M., & Zimmermann, K. F. (2022). Economic Preferences across Generations and Family Clusters: A Large-Scale Experiment in a Developing Country. Journal of Political Economy, 130(9), 2361–2410. DOI

 

2021

Bierbrauer, F. J., Boyer, P. C., & Peichl, A. (2021). Politically Feasible Reforms of Nonlinear Tax Systems. American Economic Review, 111(1), 153–191. DOI

Flückiger, M., Hornung, E., Larch, M., Ludwig, M., & Mees, A. (2021). Roman Transport Network Connectivity and Economic Integration. The Review of Economic Studies, 89(2), 774–810. DOI

Fallucchi, F., Fatas, E., Kölle, F., & Weisel, O. (2021). Not all group members are created equal: heterogeneous abilities in inter-group contests. Experimental Economics, 24(2), 669–697. DOI

Neisser, C. (2021). The Elasticity of Taxable Income: A Meta-Regression Analysis. The Economic Journal, 131(640), 3365–3391. DOI

Ackfeld, V., & Ockenfels, A. (2021). Do people intervene to make others behave prosocially? Games and Economic Behavior, 128, 58–72. DOI

Ambuehl, S., Bernheim, B. D., & Ockenfels, A. (2021). What Motivates Paternalism? An Experimental Study. American Economic Review, 111(3), 787–830. DOI 

Falk, A., Kosse, F., Pinger, P., Schildberg-Hörisch, H., & Deckers, T. (2021). Socioeconomic Status and Inequalities in Children’s IQ and Economic Preferences. Journal of Political Economy, 129(9), 2504–2545. DOI

Fetzer, T., Hensel, L., Hermle, J., & Roth, C. (2021). Coronavirus Perceptions and Economic Anxiety. The Review of Economics and Statistics, 103(5), 968–978. DOI

Mikosch, H., Roth, C., Sarferaz, S., & Wohlfart, J. (2024). Uncertainty and Information Acquisition: Evidence from Firms and Households. American Economic Journal: Macroeconomics, 16(2), 375–405. DOI

Schmitz, P. W. (2021). Optimal ownership of public goods under asymmetric information. Journal of Public Economics, 198, 104424. DOI

Jann, O., & Schottmüller, C. (2021). Regime change games with an active defender. Games and Economic Behavior, 129, 96–113. DOI

Settele, S., & Shupe, C. (2021). Lives or Livelihoods? Perceived Trade-Offs and Policy Views. The Economic Journal, 132(643), 1150–1178. DOI

Bartscher, A. K., Seitz, S., Siegloch, S., Slotwinski, M., & Wehrhöfer, N. (2021). Social capital and the spread of covid-19: Insights from european countries. Journal of Health Economics, 80, 102531. DOI

Glätzle-Rützler, D., Lergetporer, P., & Sutter, M. (2021). Collective intertemporal decisions and heterogeneity in groups. Games and Economic Behavior, 130, 131–147. DOI

Kassis, M., Schmidt, S. L., Schreyer, D., & Sutter, M. (2021). Psychological pressure and the right to determine the moves in dynamic tournaments – evidence from a natural field experiment. Games and Economic Behavior, 126, 278–287. DOI 

Hatfield, J. W., Kominers, S. D., Nichifor, A., Ostrovsky, M., & Westkamp, A. (2021). Chain stability in trading networks. Theoretical Economics, 16(1), 197–234. DOI

Manjunath, V., & Westkamp, A. (2021). Strategy-proof exchange under trichotomous preferences. Journal of Economic Theory, 193, 105197. DOI

Hanspal, T., Weber, A., & Wohlfart, J. (2021). Exposure to the COVID-19 Stock Market Crash and Its Effect on Household Expectations. The Review of Economics and Statistics, 103(5), 994–1010. DOI

 

2020

Bierbrauer, F., & Winkelmann, J. (2020). All or nothing: State capacity and optimal public goods provision. Journal of Economic Theory, 185, 104955. DOI

Deutscher, C., Gürtler, M., Gürtler, O., & DeVaro, J. (2020). Firm choice and career success - theory and evidence. European Economic Review, 127, 103470. DOI

Bauernschuster, S., Driva, A., & Hornung, E. (2020). Bismarck’s Health Insurance and the Mortality Decline. Journal of the European Economic Association, 18(5), 2561–2607. DOI

Becker, S. O., & Hornung, E. (2020). The Political Economy of the Prussian Three-Class Franchise. The Journal of Economic History, 80(4), 1143–1188. DOI

Bolton, G. E., Mans, J., & Ockenfels, A. (2020). Norm Enforcement in Markets: Group Identity and the Volunteering of Feedback. The Economic Journal, 130(629), 1248–1261. DOI

Kosse, F., Deckers, T., Pinger, P., Schildberg-Hörisch, H., & Falk, A. (2020). The Formation of Prosociality: Causal Evidence on the Role of Social Environment. Journal of Political Economy, 128(2), 434–467. DOI

Haaland, I., & Roth, C. (2020). Labor market concerns and support for immigration. Journal of Public Economics, 191, 104256. DOI

Roth, C., & Wohlfart, J. (2020). How Do Expectations about the Macroeconomy Affect Personal Expectations and Behavior? The Review of Economics and Statistics, 102(4), 731–748. DOI

Loenser, C., & Schabert, A. (2020). Monetary Policy, Financial Constraints and Redistribution. International Economic Review, 61(4), 1501–1529. DOI

Lichter, A., Löffler, M., & Siegloch, S. (2020). The Long-Term Costs of Government Surveillance: Insights from Stasi Spying in East Germany. Journal of the European Economic Association, 19(2), 741–789. DOI

Dertwinkel-Kalt, M., Köster, M., & Sutter, M. (2020). To buy or not to buy? Price salience in an online shopping field experiment. European Economic Review, 130, 103593. DOI

Heinz, M., Jeworrek, S., Mertins, V., Schumacher, H., & Sutter, M. (2020). Measuring the Indirect Effects of Adverse Employer Behaviour on Worker Productivity: A field Experiment. The Economic Journal, 130(632), 2546–2568. DOI

Sutter, M., Huber, J., Kirchler, M., Stefan, M., & Walzl, M. (2020). Where to look for the morals in markets? Experimental Economics, 23(1), 30–52. DOI

Hatfield, J. W., Kominers, S. D., & Westkamp, A. (2020). Stability, Strategy-Proofness, and Cumulative Offer Mechanisms. The Review of Economic Studies, 88(3), 1457–1502. DOI

Goldfayn-Frank, O., & Wohlfart, J. (2020). Expectation formation in a new environment: Evidence from the German reunification. Journal of Monetary Economics, 115, 301–320. DOI

2019

M. Hoffmann, M. Krause & P. Tillmann (2019): "International capital flows, external assets and output volatility". Journal of International Economics 117, 242-255.

M. Hoffmann, M. Krause & T. Laubach (2019): "The Expectations-driven US Current Account". Economic Journal 129 (618), 897-924.

E. Hornung (2019): “Diasporas, Diversity, and Economic Activity: Evidence from 18th-century Berlin”. Explorations in Economic History 73, 101261.

H. Grunewald, E. Hansen & G. Pönitzsch (2019): "Political Selection and the Optimal Concentration of Political Power". Forthcoming in: Economic Theory.

J. Röttger (2019): "Discretionary Monetary and Fiscal Policy with Endogenous Sovereign Risk". Journal of Economic Dynamics and Control 105, 44-66.

B. Born, G. Müller & J. Pfeifer (2019): "Does austerity pay off?". Forthcoming in: Review of Economics and Statistics.

2018

B. Born & J. Pfeifer (2018): "The New Keynesian Wage Phillips Curve: Calvo vs. Rotemberg". Macroeconomic Dynamics. 1-25.

V. Carrasco, V. Farinha Luz, N. Kos, M. Messner, P. Monteiro & H. Moreira (2018): "Optimal selling mechanisms under moment conditions". Journal of Economic Theory 177: 245-279.

T. Schelkle (2018): "Mortgage Default during the U.S. Mortgage Crisis". Journal of Money, Credit and Banking. 50 (6): 1101-1137 (lead article).

P. Funk (2018): "Human Capital, Polarization, and Pareto-Improving Activating Welfare". The Economic Journal 129 (619), 1221-1246.

N. Pavoni, M. Messner & C. Sleet (2018): "The Dual Approach to Recursive Optimization: Theory and Examples". Econometrica 86 (1): 133-172.

2017

M. Barbie & M. Hillebrand (2017): "Bubbly Markov Equilibria". Econ Theory 66: 627.

C. Bredemeier, F. Juessen & R. Winkler (2017): ”Man-cessions, Fiscal Policy, and the Gender Composition of Employment”. Economics Letters 158: 73-76.

M. Groneck & C. Kaufmann (2017): "Determinants of Relative Sectoral Prices: The Role of Demographic Change". Oxford Bulletin of Economics and Statistics 79 (3): 319-347.

F. Bierbrauer, A. Ockenfels, A. Pollak & D. Rückert (2017): "Robust Mechanism Design and Social Preferences". Journal of Public Economics 149: 59-80.

M. Hoffmann, M. Krause & T. Laubach (2017): "The Expectation-driven U.S. Current Account Imbalance".  The Economic Journal 129 (618), 897-924.

A. Di Tillio, N. Kos & M. Messner (2017): "The Design of Ambiguous Mechanisms". Review of Economic Studies 84 (1): 237-276.

2016

F. Bierbrauer & M. Hellwig (2016): "Robustly Coalition-Proof Incentive Mechanisms for Public Good Provision are Voting Mechanisms and Vice Versa". Review of Economic Studies 83 (4): 1440-1464.

C. Bredemeier & R. Winkler (2016): ”The Employment Dynamics of Different Population Groups over the Business Cycle”. Applied Economics 49 (26): 2545-2562.

M. Krause & S. Moyen (2016): "Public Debt and Changing Inflation Targets". American Economic Journal: Macroeconomics 8 (4): 142-176.

F. Juessen, L. Linnemann & A. Schabert (2016): "Default Risk Premia on Government Bonds in a Quantitative Macroeconomic Model". Macroeconomic Dynamics 20: 380-403.

F. Bierbrauer & P. Boyer (2016): "Efficiency, Welfare and Political Competition". Quarterly Journal of Economics 131: 461-518.

2015

H. Gersbach, J.-C. Rochet & M. Scheffel (2015): "Taking Banks to Solow". In: Joseph E. Stiglitz and Martin Guzman (eds.): “Contemporary Issues in Macroeconomics – Lessons from The Crisis and Beyond”, Palgrave Macmillan.

A. Schabert (2015): "Optimal Central Bank Lending". Journal of Economic Theory 157: 485-516.

L. Linnemann & A. Schabert (2015): "Liquidity Premia and Interest Rate Parity". Journal of International Economics 97: 178-192.

M. Hörmann & A. Schabert (2015): "A Monetary Analysis of Balance Sheet Policies". The Economic Journal 125: 1888-1917.

2014

C. Bredemeier (2014): "Imperfect Information and the Meltzer-Richard Hypothesis". Public Choice 15 (3): 561-579.

M. Barbie & A. Gupta (2014): "The topology of information on the space of probability measures over Polish spaces". Journal of Mathematical Economics 52: 98-111.

F. Bierbrauer (2014): "Tax incidence for fragile financial markets". Journal of Public Economics 120: 107-125.

F. Bierbrauer & P. Boyer (2014): "The Pareto-frontier in a simple Mirrleesian model of income taxation". Annals of Economics and Statistics 113/114: 185-206.

F. Bierbrauer (2014): "Optimal tax and expenditure policy with aggregate uncertainty". American Economic Journal: Microeconomics 6: 205-257.

2013

C. Bredemeier & F. Juessen (2013): "Assortative Mating and Female Labor Supply". Journal of Labor Economics 3 (3): 603-631.

T. Krebs & M. Scheffel (2013): "Macroeconomic Evaluation of Labor Market Reform in Germany". IMF Ecomomic Review 6 (4): 664-701.

F. Bierbrauer, C. Brett & J. A. Weymark (2013): "Strategic Nonlinear Income Tax Competition with Perfect Labor Mobility". Games and Economic Behavior 82: 292-311.

F. Bierbrauer & P. Boyer (2013): "Political competition and Mirrleesian income taxation: A first pass". Journal of Public Economics 103: 1-14 (lead article).