Dr. Klaus Schmidt

Biography

Klaus Schmidt is a professor of Economics and the chair of Economic Theory at Ludwig-Maximilians-University Munich. He serves as the president of the Verein für Socialpolitik (German Economic Association) and as the spokesperson for the Collaborative Research Center/Transregio 190, focusing on Rationality and Competition. Additionally, he is the founding director of the Munich Experimental Laboratory for the Economic and Social Sciences and an area director at CESifo Network in Behavioral Economics. His research addresses a broad spectrum of theoretical and applied microeconomic behavioral questions, particularly analyzing economic decision-making influenced by interdependent situations, contract theory, bounded rationality, and reference-dependent preferences. Schmidt has also conducted research concerning competition policy, industrial policy, and climate policy, focusing on the financing of young firms and the design of auctions with incentive mechanisms. He has received several accolades including the Gossen Prize, the Verein für Socialpolitik Research Prize, and an honorary doctorate from the University of Fribourg. Furthermore, he is a fellow of the Econometric Society and the European Economic Association.

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Awards