Hamburg News: Trade and Finance. High-class shopping area in the city centre shown.
Für ihre Arbeiten in der Experimentellen Wirtschaftsforschung erhielten drei Forscher im Beisein von Bürgermeister Olaf Scholz den Joachim Herz Wirtschaftspreis (v.l.n.r.): Matthias Heinz, Heiner Schumacher, Olaf Scholz und Urs Fischbacher. © Joachim Herz Stiftung, Foto: Claudia Höhne

First "Joachim Herz Economics Prize" presented in Hamburg

Prize promotes research approaches in economic sciences - prize to be awarded biennially

The Joachim Herz Foundation presented the first “Joachim Herz Prize for Economics” at a ceremony in Hamburg’s City Hall attended by Olaf Scholz, Mayor of Hamburg. The prize is one of Germany’s most respected and comes with a bourse of EUR 60,000. The award will be presented biennially in future, according to the Senate Chancellery. Andrea Pauline Martin, Vice-Chair of the Executive Board, said Thursday (December 15): “We want to boost interdisciplinary research with this prize and to support research approaches that expand perspectives in economic sciences. Our award winners do this excellently with their work.”

Readiness to co-operate in teams

Professor Urs Fischbacher won the prize “Best Research Work” worth EUR 50,000 for his work on reciprocity in social exchange and the laboratory software z-Tree. Matthias Heinz, University of Cologne, and Heiner Schumacher, KU Leuven, Belgium, won the award “Best Entry by Young Academics worth EUR 10,000. Their study “Signaling Cooperation” deals with social commitment and readiness to co-operate in teams.

Bridges to research

Scholz noted in his welcoming address: “The ‘Joachim Herz Prize for Economics’ is an important prize that goes with the times and will help strengthen economic sciences and position them even better. I congratulate both the foundation for hosting this prize and the prizewinners for convincing the jury of their work.” Scholz was delighted to be presenting the prize in in Hamburg, he said, adding: “We need such bridges to research and especially to economic sciences which are currently facing many questions.”

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