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I graduated from the DFG Graduiertenkolleg 1613 Risk & East Asia. The Research Training Group Risk & East Asia offers doctoral-level training and post-doctoral research opportunities in contemporary economic and social scientific East Asian Studies. A key feature of the research training group is the collaboration between doctoral and post-doctoral fellows and senior participating scientists in a joint research program about the governance of risks triggered by Asian responses to global economic, political and social change. → My profile on the graduate school website

Research interests

  • Behavioral finance
  • Cross-cultural comparisons
  • Experimental methods
  • Risk & Uncertainty
  • Momentum
  • Overconfidence
  • Cognitive abilitites
My current research projects are motivated by significant disparities in stock price momentum around the world. It builds on models based on psychological biases explaining this phenomenon. Several comparative experimental studies focus on cross-cultural differences in behavior among market participants in Western countries and in Asia, especially Japan.


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Implications from Biased Probability Judgments for International Disparities in Momentum Returns
Complexity Aversion: Influences of Cognitive Abilities, Culture and System of Thought
Disentangling Two Causes of Biased Probability Judgment: Cognitive Skills & Perception of Randomness
Cognitive skills and confidence: Interrelations with overestimation, overplacement and overprecision
Default or Reactance? Identity Priming Effects on Overconfidence in Germany and Japan



Seminar papers

Currency Unions:  The Euro and Lessons from History
Early Childhood Education: A Modern Approach to Human Capital Theory



Conference presentations and talks

April 2015 Research seminar in economics
Topic: Default or Reactance ? Identity priming effects on overconfidence in Germany and Japan
Osaka Prefecture University, Japan
April 2015 Educational seminar talk
Topic: Behavioral & Cultural Economics. Introduction and recent findings
Osaka Prefecture University, Japan
December 2014 Symposium on Attitudes and Preferences
Topic: Complexity, Cognitive Skills & Culture (poster)
Konstanz, Germany
November 2014 ACCER Workshop „Exploring Culture and Behavior by Economic and Psychological Experiments“
Topic: Overconfidence & Culture. National identity priming effects in Germany and Japan
Duisburg, Germany
October 2014 Workshop on Experimental Economics
Topic: Cognitive reflection and the law of small numbers
Essen, Germany
June 2014 Educational seminar talk
Topic: Introduction to behavioral finance
Osaka Prefecture University, Japan
May 2014 Research seminar in economics
Topic: Cognitive abilities and overconfidence
Osaka Prefecture University, Japan
April 2014 Workshop on Experimental Economics
Topic: The rule of culture in quasi-Bayesian decision making
Essen, Germany
October 2013 Workshop on Experimental Economics
Topic: Biased behavior and culture: Two experimental studies
Essen, Germany
April 2013 Workshop on Experimental Economics
Topic: Cross-cultural variation in Overconfidence
Essen, Germany
January 2013 Joint Workshop Tokyo University and University Duisburg-Essen on New Directions in Comparative and Transnational Studies
Topic: A behavioral finance perspective on momentum
Duisburg, Germany
December 2012 ACCER Workshop „Insights from Experimental Economics and Psychology“
Topic: Biased investor behavior explaining momentum in Japan
Duisburg, Germany