Research
Future of the financial industry (see my column at Springer Professional) (German only);http://www.finanzen.net/kolumnisten/rieck-richtung-future-kolumne (German only)
Behavioral Economics / Behavioral Finance
Staff: Daniel Ammersilge, Lars Nordmann
We manually analyzed about 200 TED Talks on the platform www.TED.com from 2001 to 2014. The analysis criteria were characteristics which the literature mentions as causes for successful TED Talks. Based on this, we created a data base with essential characteristics of the analyzed talks. The basis was the top 12% most-watched talks for each year and the bottom 12% least-watched videos. Then we compared whether systematic characteristics could be determined that are associated with high or low click rates. - In the sample, the most-watched videos had the following characteristics: More slides (but less frequently in full-screen mode); more quotes; stronger gestures; clear statements; humor; more movement of the presenter. Apparently the virality on social media (measured by the number of comments and likes on Youtube) appears to have a life of its own independent of the characteristics of the talk and has it own, very strong, influence on the success of a TED Talk.
Appeared in 2016 in the conference volume for the research symposium of the Frankfurt University of Applied Sciences.
Staff: Cyrill Grüter
The study examines the attitudes of people towards robots using the Implicit Association Tests (IAT). The IAT is a test procedure that measures preconscious attitudes through the reaction times for term associations and thus has so far been mostly been used to measure attitudes, for instance towards minorities, or in terms of role stereotypes. - The measurements of the IAT suggest that 1. People clearly have a more negative attitude towards robots than towards other people. 2. This discrepancy is greater than the respondents state in response to explicit questions. We believe that this has important consequences for the marketing term "robo-consultant," which is currently spreading in the Fintech area.
Staff: Marvin Berns, Fabian Mahoutchian, Boris Wiedemer
In this experimental paper, a different version of the Trust Game (acc. to Berg, Dickhaut, and McCabe (1995)) is played by using a robot as mediator between the human players. We study whether the behavior of the human players changes due to the use of a robot. For this purpose, the Trust Game was played with 46 game pairs. - The overwhelming majority of the respondents states that the robot had no impact on their playing behavior. However, in reality, the submitted amounts are higher than in other studies without robots, and respondents with positive associations with robots submit a higher amount than others.
Employees: Thomas Gottwals
This experimental study investigates the bidding behavior in auctions with or without subsequent negotiations. The theoretical auction described and studied by Bulow and Klemperer (1996) is recreated in the experiments: The auction used is a "second-price sealed bid" auction (Vickrey auction). The subsequent negotiation is represented through an ultimate negotiation with the auction organizer as player 1. Four treatments were performed: Auctions with 4 or 5 bidders and each with or without subsequent negotiation. The results agree with the theoretical predictions of Bulow et al. (1996): The revenue for the auctioneer is significantly higher in a Vickrey auction with N+1 bidders than in a Vickrey auction and subsequent negotiations with the last remaining bidder for a total of only N bidders. Furthermore, we were able to show that the description of the game with subsequent negotiations in Bulow et al. (1996) is incomplete and requires supplemental rules before it can be studied experimentally.
Publication: planned for 2016.
Employees: Caprice Weissenrieder, Alexandra Hein, Sahar Khaksar
This study examines the influence of gender, place of origin, and stereotypical skills within certain professions on respondents. The research is designed as a questionnaire experiment, in which the respondents are each presented with four fictitious CVs for three fictitious job advertisements for assessment. The respondents were students of Frankfurt University of Applied Sciences who were very diverse as a group. The results show: Even in this respondent group, the professions receive stereotypical attributions and the gender of the respondents has an influence on the gender of the preferred applicant. Depending on the job description, the study showed a negative or positive discrimination against applicants with a different ethnicity.
Publication (monograph) planned for 2016.
Das Ende der Bankberatung. In: Oliver Everling / Robert Lempka (Hg.) Finanzdienstleister der nächsten Generation (German only) - Megatrend Digitalisierung. 1. Aufl. 2016.
Die digitale Revolution in der Versicherungsbranche. In: Zeitschrift für Versicherungswesen ca. Juli 2015.
Spieltheorie im Einkauf: Auktionen in Theorie und Praxis (German only). Eschborn 2015. Mit Jacek Drozak und Gero von Grawert.
Können Roboter mit Geld umgehen? (German only) Die digitale Zukunft der Finanzberatung. Eschborn 2015.
Spielen Profi-Fußballer rational? Empirische Auswertung von Elfmeter-Schüssen. Christian Rieck, Jan Kutschka, Julius Erhardt, Robin Chambers. In: Tagungsband Symposium „Wissenschaft und Praxis im Austausch über aktuelle Herausforderungen. S. 89-98. Frankfurt/Main 2015.
Schwarm-Innovationen: Wie technologische Schwärme die Zukunft der Banken beeinflussen. Bankinformation 2015 (März).
Verhandlungen. In: Norman Braun / Nicole J. Saam (Hrsg.): Handbuch Modellbildung und Simulation (German only). 2014, S. 1025-1048.
Internet und die Banken – Wie das Internet die Zukunft der Finanzbranche verändern kann. In: Marketing Intern 2/2013, S. 28-29.
Zukunftsbank 3.0 – die Bank der Zukunft im Testlabor. Eschborn 2012.
Diversität im Aufsichtsrat – Studie über die Zusammensetzung deutscher Aufsichtsräte. Mit Helena Bendig, Julius Hünnemeyer und Lisa Nitzsche. 2012, Frankfurt am Main.
Das Spiel mit dem Euro – ein soziales Dilemma. Agora 42, 04/2012, S. 32-37.
Männersache Rasieren (German only) – Handbuch für den Rasur-Aficionado. 2012, Eschborn.
Rettet Europa! Anregungen aus Sicht der Spieltheorie. In: Trend-Update 12/2011, S. 12-13.
Rettung vor dem Euro (German only). 2011, Eschborn.
Spieltheorie – eine Einführung. 14. Auflage 2015, Eschborn.
So profitieren Sie vom Microsoft-Monopol. Chip 1/2005, 38-39.
Insider trading and portfolio structure in experimental asset markets with a long-lived asset. The European Journal of Finance 5 (1999), pp. 29-50. Mit Jan P. Krahnen und Erik Theissen.
Financial Markets With Asymmetric Information: A Pilot Study Focusing on Insider Advantages. Journal of Economic Psychology 18(2-3), 1997, S. 235-257. Mit Werner Güth und Jan P. Krahnen.
Inferring Risk Attitudes from Certainty Equivalents: Some Lessons from an Experimental Study. Forthcoming in Journal of Economic Psychology. Mit Jan P. Krahnen und Erik Theissen.
Messung individueller Risikoeinstellungen. Working Paper University of Frankfurt 1997. Mit Jan P. Krahnen und Erik Theissen. Eingereicht zur Publikation.
Märkte, Preise und Koordinationsspiele – Theoretische und experimentelle Untersuchungen zum Zusammenhang von Preis und Wert. Berlin: Physica.
Designing an Experimental Stock Market. Erscheint in: Empirical Research on the German Capital Market. Springer: Heidelberg etc. Mit Jan P. Krahnen und Erik Theissen.
Information Acquisition in Asset Markets: Experimental Investigation of a Matrix Game. Working Paper University Giessen, submitted for publication. Mit Erik Theissen.
Insider Trading and Portfolio Structure in Experimental Asset Markets. Working Paper University of Giessen, Feb. 1995. Mit Jan P. Krahnen und Erik Theissen.
Evolutionary Simulation of Asset Trading Strategies. In: Eva Hillebrand / Joachim Stender (Eds.): Many-Agent Simulation and Artificial Life. IOS Press: Amsterdam etc. 112-136.
Theorien und Experimente in den Wirtschaftswissenschaften. rer. pol. 1/94, 23-28.
Systemunterstützung von Kapitalmarktexperimenten. Arbeitspapier der Universität Gießen 1994. Mit Michael Schneider, Erik Theissen und Andrea Wirth.
Price Fads in Experimental Markets. Working Paper University of Giessen 1994. Mit Jan P. Krahnen und Erik Theissen.
Price and Value Expectations in an Experimental Call Market. Working Paper University of Giessen1994, submitted for publication 1995. Mit Jan P. Krahnen und Erik Theissen.
Modell Natur: Naturanaloge Verfahren in der Computersimulation. c't - Magazin für Computertechnik 11/93, 201-208.
An Experimental Investigation of the Psychology of Crashes. In: Economic Psychology and Experimental Economics. Mit Christine Syha.
Ein experimenteller Finanzmarkt mit Insiderinformationen. Mit Werner Güth und Jan Pieter Krahnen, Diskussionspapier der Universität Frankfurt 1992.
Evolution and Stock Markets. Tagungsband der Tagung für Principle Based Engineering, IEE: London, 1992.
Expertenstreit im Computer. Computer Persönlich, 23/1991, S. 46-52.
Computerturniere als Forschungsmethode. Computer Persönlich, 24/1991, S. 35-39.
EG-Import-Anleitung. Eschborn, 1989 (die 8. Auflage 1996 wurde umbenannt in EU-Import-Anleitung und wurde in Zusammenarbeit mit anderen Autoren überarbeitet). Auch erschienen als Heyne-Taschenbuch mit dem Titel „Euro-Schnäppchen Autokauf“.
Evolutionstheorie und Ökonomie. Eschborn, 1988.
Zweitakt-Motoren-Tuning. Eschborn, 1984 (derzeit: 15. überarbeitete Auflage 2014).
Leistungssteigerungen am Zweitaktmotor. Eschborn, 1983.