NOTE: Early stage papers and discussion papers are available at CEPR, EconPapers and/or SSRN.

"Non-Standard Errors" (with Albert Menkveld et al.), Journal of Finance 79(3), 2024, 2339-2390.

"Social Responsibility and Bank Resiliency" (with Maria Chiara Iannino and Stephan Unger), Journal of Financial Stability 70, 2024, 101191.

"Leverage, Competitiveness, and Systemic Risk in Banking", Quarterly Journal of Economic Research 92(3), 2023 (December), p. 35-48.

"Dual Sourcing and Resilient Supply Chains: The Case of Essential Resources" (with Rune Stenbacka), Atlantic Economic Journal, 2023 (December),

"R&D and Subsidy Policy with Imperfect Project Classification" (with Rune Stenbacka), Economics Letters 222 (January), 2023, 110966.

"Resilience: A Critical Appraisal of the State of Research for Business and Society" (with Tine Buyl, Jonas Schreyögg and Andreas Wieland), Schmalenbach Journal of Business Research, Vol. 74(4) (December), 2022, 453-463.

"Intermediation and Price Volatility" (with Klaus Ritzberger), Journal of Economic Theory, Vol. 201 (April), 2022, 105442.

"On the Instability of Private Liquidity Provision" (with Diemo Dietrich), Economics Letters, Vol. 209 (December), 2021, 110117.

"Did the Basel Process of Banking Regulation Enhance the Resiliency of European Banks?" (with Maria Chiara Iannino), Journal of Financial Stability, Vol. 55 (June), 2021, 100904.

"Journal Competition and the Quality of Published Research: Simultaneous versus Sequential Screening" (with Rune Stenbacka), International Journal of Industrial Organization, Vol.76 (May), 2021, 102718.

"Introducing Schmalenbach Journal of Business Research" (with Alfred Wagenhofer), Schmalenbach Journal of Business Research, Vol. 73(1), 2021, 1-4.

"Transformation", Business Research, Vol. 13(3), 2020, 789-793.

"(Ir)Rationality of Decisions in Business Research and Practice" (with Alexander Dilger and Marko Sarstedt), Business Research, Vol. 12(1), 2019, 1-7.

"Capital Regulation and Systemic Risk in the Insurance Sector" (with Maria Chiara Iannino), Journal of Financial Economic Policy, Vol. 10(2), 2018, 237-263.

"On the Value of Transparency and Information Acquisition in Bargaining" (with Werner Güth and Rene Levinsky), German Economic Review: Special Issue in Honor of Reinhard Selten's 85 Birthday, 17(3), 2016, 337-358.

"Changing Risk Perception and the Time-Varying Price of Risk" (with Roland Füss and Philipp Rindler), Review of Finance 20(4), 2016, 1549-1585.

"On Insider Trading and Belief Evolution" (with Werner Güth and Rene Levinsky), Journal of Evolutionary Economics, 3(4), 2013, 767-781.

"Capital, confiance et compétitivité dans le secteur bancaire", Revue d'Economie Financière, 112 (Les Systèmes Bancaires Européenes (2)), 2013, 175-193.

"Pricing to Acceptability: With applications to valuing one's own credit risk" (with Ernst Eberlein and Dilip Madan), The Journal of Risk, 15, 2012, 91-120.

"A Welfare Evaluation of History-Based Price Discrimination" (with Oz Shy and Rune Stenbacka), Journal of Industry, Competition and Trade, 12, 2012, 373-393.

"Towards a Theory of Regional Banking - Comment on Raab and Welzel", Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung - ZfbF, 63, 2011, 223-228.

"History-Based Price Discrimination and Entry in Markets with Switching Costs: A Welfare Analysis" (with Oz Shy and Rune Stenbacka), European Economic Review, 55, 2011, 732-739.

"Decentralized Screening: Coordination Failure, Multiple Equilibria, and Cycles" (with Rune Stenbacka), Journal of Financial Stability, 7, 2011, 60-69.

"On the Evolution of Professional Consulting" (with Werner Güth, Rene Levinsky and Vera Popova), The Journal of Economic Behavior and Organization, 76(1), 2010, 113-126.

"Bonus Payments Fund Managers' Behavior: Trans-Atlantic Evidence" (with Torben Lütje and Lukas Menkhoff), CESifo Economic Studies, 2009, 569-594.

"Stock Price Informativeness, Cross-Listings, and Investment Decisions" (with Thierry Foucault), Journal of Financial Economics 88, 2008, 146-168.

"The Location of and Competition between Financial Centers", in X. Freixas, P. Hartmann and C. Mayer: Handbook of European Financial Markets and Institutions, Oxford University Press, 2008, 619-642.

"The Internationalization of Asset Ownership - Comment on Harry Huizinga and Lars Jonung", Economica 75(300), 2008, 799-800.

"Buying a pig in a poke: Willingness to pay for unconditional veto power" (with Werner Güth, Vittoria Levati, Rene Levinsky, Axel Ockenfels, Tobias Uske, Thorsten Weiland), Journal of Economic Psychology 28, 2007, 692-703.

"Information Sharing and Lending Market Competition with Switching Costs and Poaching" (with Rune Stenbacka), European Economic Review 51, 2007, 77-99.

"Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange 1880-1910" (with Caroline Fohlin), Review of Finance 10, 2006, 1-26.

"Stabilität versus Innovationsfähigkeit: Zur Rolle des Finanzystems", Kredit und Kapital 39:3, 2006,1-8.

"Die Stabilität von Finanzmärkten: Wie kann die Wirtschaftspolitik Vertrauen schaffen?", Wirtschaftspolitisches Forum, Zeitschrift für Wirtschaftspolitik 55:1, 2006, 61-69.

"Extended Evidence on the Use of Technical Analysis in the Foreign Exchange Market" (with Lukas Menkhoff), International Journal of Finance & Economics, 11(4) 2006, 327-338.

"The Rise of Fund Managers in Foreign Exchange" (jointly with Lukas Menkhoff), The World Economy, 28:4, April 2005, 519-540.

"The Commitment Effect in Belief Evolution" (with Werner Güth and Rene Levinsky), Economic Letters 85, 2004, 163-166.

"Differentiation Induced Switching Costs and Poaching" (with Rune Stenbacka), Journal of Economics & Management Strategy, Vol.13:4, 2004, 635-655.

"Organisational Form and Information Acquisition", Journal of Institutional and Theoretical Economics, 2004, Vol. 160, 1-13.

"The Use of Flow Information in Foreign Exchange Markets: Exploratory Evidence" (with Lukas Menkhoff), Journal of International Money and Finance 23, 2004, 573-594

"Corporate Governance: Fine Tuning the Conditions for Innovation and Job Growth", Journal of Institutional and Theoretical Economics, 2003, Vol. 159, 656-663.

"Project Evaluation and Organizational Form" (with Pierre Regibeau and Kate Rockett), Review of Economic Design 5, 2000, 387-407.

Reprinted in: Bashkar, D. and M. Jackson (eds): Networks and Groups - Models of Strategic Formation, Springer, 2002, 471-493.

"Screening, Cross-Border Banking, and the Allocation of Credit", Research in Economics, 1998 (52), 387-407.

"Bid-Ask Spreads with Indirect Competition among Specialists" (with Matthew Jackson), Journal of Financial Markets, 1998, Vol. 1(1), 89-119.

"Competing Markets", European Economic Review, 1998, Vol. 42(2), 277-310.

"Market Structure, Monitoring, and Capital Adequacy Regulation", Swiss Journal of Economics and Statistics, 1996, Vol. 132(4/2), 685-702.

"Zum Wettbewerb der Standorte", ifo-Studien, 1996, Vol. 42.1, 5-16.

"Natural Oligopoly and Customer Networks in Intermediated Markets", International Journal of Industrial Organization, 1996, Vol. 14, 101-118.

"Capital Adequacy Rules: Implications for Banks' Risk-Taking", Swiss Journal of Economics and Statistics, 1995, Vol.131(4/2), 747-764.

"Quacks, Lemons and Self-Regulation: A Welfare Analysis", (with Peter Jost), Journal of Regulatory Economics, 1995, Vol.7, 309-325.

"Intermediation in Search Markets", Journal of Economics and Management Strategy, Vol.2(1), 1993, p.97-120.

An Information Based Explanation of the Domestic Bias in International Equity Investment", The Scandinavian Journal of Economics, 1/1993, 97-109.

Reprinted in: Stulz, Rene and Andrew Karolyi (eds): International Capital Markets, Edgar Elgar, Series Critical Writings in Finance (ed. R. Roll) Cheltenham, 2003.

"Ein Kapitalmarktmodell mit unterschiedlich informierten Anlegern", Swiss Journal of Economics and Statistics, 1991, Vol.127:3, 617-629.


"Transatlantic differences in bank resiliency" (with Maria-Chiara Iannino and Stephan Unger), published in Guglielmo Caporale (ed.): Handbook of Financial Integration, Edgar Elgar, forthcoming 2024.

"Digital Transformation" in: Business Research 13(3), 789-1144, 2020.

"(Ir)Rationality of Decisions in Business Research and Practice" (with Alexander Dilger and Marko Sarstedt), in: Business Research 12(1), 1-314, 2019

"Monitoring the first year of SSM – Perspectives from Austria", in Gehrig, T., A. Leite, A. Sapir, D. Schoenmaker, S. Steffen, P. Tibi, N.Veron, X. Vives, C. de Vries, M. Xafa (eds.): European banking supervision: the first 18 months, Bruegel-Blueprint Series 25, Bruegel, Brussels, 2016.

"Changing Business Models in Banking and Systemic Risk", in H. Albach, H. Meffert, A. Pinkwart, H. Reichwald (eds.): Management of Permanent Change in Firms and Markets, Springer-Gabler, 2015.

“The relevance of retail payments for society and for the financial services industry in particular”, in Banque de France and ECB: Retail Payments at Crossroads: Economics, Strategies and Future Policies , 2014.

“Competition and charging models in retail payments”, in Banque de France and ECB: Retail Payments at Crossroads: Economics, Strategies and Future Policies, 2014.

"Können wir den Banken noch vertrauen?", in E. Hammer, N. Tomaschek (eds.): University-Society-Industry: Beiträge zum lebenslangen Lernen, Bd. 2: Vertrauen, Waxmann, Wien, 2013, 153-164.

"Eigenkapital und Vertrauen im Bankensektor", in J. Krall, F. Lamprecht, R. Lernbass, E. Rauch, I. Spitzer, E. Stadler, C. Zernatto (eds.): Festschrift für Bischof Alois Schwarz zum Sechzigsten Geburtstag, Peter Lang Verlag, Frankfurt, 2012.

"Politische Macht und Freiheitliche Gesellschaftsordnung", in T. Gehrig, D. Tscheulin, V. Vanberg (eds.): Freiburger Schule und die Zukunft der Sozialen Marktwirtschaft, Berlin, 2010.

"Wettbewerbsfreiheit und Diskriminierungsverbot", in V. Vanberg (ed.): Evolutions und Wettbewerbsfreiheit, Mohr Siebeck, Tübingen, 2009.

"Location of and Competition between Financial Centers", in X. Freixas, P. Hartmann, C. Mayer (eds.): Handbook of European Financial Markets and Institutions, Oxford University Press, 2008, 619-642.

"Price Discrimination, Competition Policy and Antitrust" (with Rune Stenbacka), in Mats Bergmann (Hrsg.).: Pros and Cons of Price Discrimination, Konkurrensverket - Swedish Competition Authority, 2005, 131-159.

"Venture Cycles: Theory and Evidence" (with Rune Stenbacka), in V. Kanniainen, C. Keuschnigg (eds.): Venture Capital, Entrepreneurship, and Public Policy, MIT-Press, 2004, 151-177.

"Cities and the Geography of Financial Centers", in Jacques Thisse, J.-M. Huriot (eds.): The Economics of Cities , Cambridge University Press, 2000, pp. 415-445.

"Harmonisierung und Anlegerschutz für die Europäischen Finanzdienstleistungen: Anmerkungen zu Vorschlägen zur Konsensregulierung des Rates der Europäischen Gemeinschaft aus ökonomischer Sicht", in Stefan Grundmann (ed.): Systembildung und Systemlücken in Kerngebieten der Harmonisierung - Europäisches Schuldvertrags- und Gesellschaftsrecht , Walter de Gruyter, Berlin, New York, 2000, pp. 625-638.

"Zur Politischen Ökonomie des Technischen Fortschritts", in Bernhard Külp (ed.): Freiheit und Wettbewerbliche Ordnung: Gedenkband zur Erinnerung an Walter Eucken, Haufe Verlag, Berlin, Freiburg, Berlin, München, 2000, pp.561-578.

"Perspektiven für die Deutsche Versicherungswirtschaft im 21. Jahrhundert", Gesamtverband der Deutschen Versicherungswirtschaft (GDV): 50 Jahre Deutsche Versicherungswirtschaft, Kohtes und Klewes, Düsseldorf 1998.

"Excessive Risks and Banking Regulation", in Gabriella Chiesa (ed.): Banking Competition and Risk Management , Quaderni di Ricerche, No. 20, Ente per gli Studi Monetari, Bancari e Finanziari Luigi Einaudi, Roma, 1997, 241-269.

"Competing Exchanges", (with Konrad Stahl and Xavier Vives), in Paul Krugman and Anthony Venables (eds): The Location of Economic Activity: New Theories and Evidence, CEPR, London, 1994.