Key Research Area Cryptoeconomics
Technology is changing how we live and communicate with each other at a breakneck pace, and finding innovative applications for these new technologies is the order of the day. Cryptoeconomics is the focus of a new interdisciplinary research institute at WU.
Blockchain technology allows secure transactions without the need for banks, notaries public, or lawyers. With this technology, transactions can be concluded faster, more transparently, and at a lower cost. Many experts see blockchain technology as the basis for new business models. To explore the potential of these technologies, research has to focus not just on the technological possibilities, but also on economic, social, and legal aspects. WU’s interdisciplinary research team will not only be conducting basic research but also developing innovative solutions for businesspeople and society.
Space to Experiment
How do scents affect how customers feel about retail stores and products? Under which circumstances are people willing to share their belongings with others? Should ballot sheets include a “none of the above” option? Questions like these can now be tested in laboratory conditions at WU.
The newly established Competence Center for Experimental Research coordinates the experimental research infrastructure at WU, consisting of four experimental laboratories. State-of-the-art technology will allow researchers to perform comprehensive analyses of human behavior. In our lab experiments, we put test subjects in various business situations and ask them to make certain decisions. Unlike in the real world, researchers can systematically manipulate factors like market regulations, tax rates, or contractual provisions to then assess and analyze the test subjects’ reactions.
A Unique Doctoral Program
The Vienna Graduate School of Finance (VGSF) was established in 2005 and has since been successfully preparing its graduates for international academic careers. A panel of international experts has reviewed the program, including aspects such as educational standards, research, impact, and visibility, and rated it as excellent.
The peer reviewers emphasized that VGSF can hold its own in competition with similar programs worldwide, even with those of elite US schools. The quality of the faculty and its wide network of international contacts were mentioned as further advantages of the program. Renowned experts and researchers from well-known universities like the London School of Economics, the University of Chicago, or Princeton University are invited to speak at VGSF on a regular basis, offering the program’s international PhD students the opportunity to build up a network in the scientific community early in their careers. VGSF graduates are highly successful on the international labor market and can be found in high-ranking positions at top universities in Europe (e.g. Bocconi, NHH Norwegian School of Economics, Erasmus University Rotterdam, Aarhus University), the USA (Georgia Institute of Technology, Carnegie Mellon, MIT), Asia (University of Hong Kong), and Australia (University of New South Wales), or are employed by international consultancies.
The reviewers also emphasized that the VGSF’s affiliation with WU increases the international visibility of the city of Vienna as a center for excellent research in the field of finance.
