Economics in the laboratory
The Konstanz economist Professor Urs Fischbacher is the winner of the Joachim Herz Wirtschaftspreis (Joachim Herz prize in economics)
This year’s accolade goes to Professor Urs Fischbacher. It comes with a prize money of € 50,000. In the 1990s, the Konstanz-based economist invented “z-Tree”, a software for economics experiments. Since its inception, “z-Tree” has been the go-to software for economic experimentation. As such, it was instrumental to cementing the international relevance of this field of study. Fischbacher’s trailblazing work in the area also extends to the concept of reciprocity, especially the ways in which people reward friendliness and penalise unfriendliness. He is one of the most highly regarded economists and co-editor of several important international periodicals. The Joachim Herz Wirtschaftspreis was also awarded to two junior researchers: Matthias Heinz of the University of Cologne and Heiner Schumacher of the Katholieke Universiteit Leuven, Belgium. An awards ceremony for all three recipients will be held on 15 December 2016 at the Hamburger Rathaus (townhall.)
“Mr Fischbacher provided the right technology at the right time, making an important contribution to the evolution of experimental economics. He continues to prove his innovative powers by bringing the findings of neuroscience to bear on traditional economic analyses”, elaborates Andrea Pauline Martin, deputy CEO of the Joachim Herz Stiftung (foundation). Experiments in the laboratory expand upon traditional methods of economic research. They make it possible to understand phenomena that can hardly – or never – be analysed on the grounds of empirical data or within natural economic environments.
The Joachim Herz Wirtschaftspreis is awarded in two categories. It acknowledges the work of an established academic as well as the best entry submitted by a junior researcher. It is not possible to put forward one’s own name in the category “Bestes Forschungswerk eines etablierten Wissenschaftlers” (best contribution by an established academic).
For further information on the Joachim Herz Wirtschaftspreis and the latest recipients, please see: www.joachim-herz-stiftung.de/wirtschaftspreis