Lehrstuhl für Volkswirtschaftslehre, Geld und internationale Wirtschaftsbeziehungen
Sanderring 2, 97070 Würzburg
Research foci (and basic equipment-based research projects):
Analysis of foreign exchange markets within the conceptual framework of behavioural economics: In recent years more and more economic researchers have critically scrutinised the basic assumption of human behaviour in economics. This led to the formation of a new research field, called behavioural economics, which in contrast focuses on the actual human behaviour. In particular, the research field of finance shows an increasing interest in behavoural economics ("behavioural finance"). Our main interest is the analysis of the actual human behaviour in foreign exchange markets. Thereby we concentrate on the analysis of judgement strategies led by simple heuristics. These heuristis allow foreign exchange market participants a fast and frugal decision-making. Furthermore, we investigate the effects of the usage of heuristics on the aggregate market level. In this context we analyse the trend-behaviour nested in foreign exchange rates against the background of market efficiency-hypothesis.
www.monetary-policy.net (see Current Research of Peter Bofinger and his staff)