Aug  2015

Dr. Sascha Füllbrunn


Assistant Professor of Finance


Radboud University Nijmegen     Department of Economics


Visiting Address:

Thomas van Aquinostraat 5.1.15 6525 GD Nijmegen

Postal Address:

P.O. Box 9108

6500 HK Nijmegen


tel: +31-(0)24-36 15474



Sascha Füllbrunn



Market Design, Experimental Finance/Economics, Behavioral Finance/Economics, Auctions, Game Theory



Recent Working Papers
Füllbrunn, S. & Luhan, W.J. (2015). Am I My Peer's Keeper? Social Responsibility in Financial Decision Making, NiCE Working Paper 15-03, Institute for Managemenet Research, Radboud University, The Netherlands
Janssen, D., Weitzel, U. & Füllbrunn, S. (2015). Speculative Bubbles - An Introduction and Application of the Speculation Elicitation Task (SET), NiCE Working Paper 15-02, Institute for Managemenet Research, Radboud University, The Netherlands
Füllbrunn, S., Neugebauer, T. & Nicklisch, A. (2014).  Underpricing of Initial Public Offerings in Experimental Asset Markets, NiCE Working Paper 14-107, Radboud University, The Netherlands 
Füllbrunn, S., Kreiner, S.  &  Palan, S. (online first). The Value of a Fallback Option, Central European Journal of Operations Research, DOI 10.1007/s10100-015-0389-4
Eckel, C. & Füllbrunn, S. (2015). Thar "She" blows? Gender, Competition, and Bubbles in Experimental Asset Markets,  American Economic Review, 105 (2), pp 906-926
Füllbrunn, S. , Rau, H., & Weitzel, U. (2014). Does ambiguity aversion survive in experimental asset markets?Journal of Economic Behavior & Organization, 107 (Part B),  pp 810-826 
Füllbrunn, S.  & Haruvy, E. (2014). The Takeover Game, Journal of Behavioral and Experimental Finance, 1, pp 85-98
Füllbrunn, S.  & Haruvy, E. (2013).  Chapter 5 The Dividend Puzzle: A Laboratory Investigation, in R. Mark Isaak, Douglas A. Norton (ed.) Experiments in Financial Economics (Research in Experimental Economics, Volume 16), pp.87-110, Emerald Group Publishing Limited
Füllbrunn, S.  & Neugebauer, T. (2013). Varying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game, Theory and Decision, 75(3), pp 421-447
Füllbrunn, S.  & Neugebauer, T. (2013). Limited Liability, Moral Hazard and Risk Taking - A Safety Net Game Experiment, Economic Inquiry, 51 (2), 1389-1403. (with Tibor Neugebauer)

Füllbrunn, S.  & Sadrieh, A. (2012). Sudden Termination Auctions - An Experimental StudyJournal of Economics & Management Strategy, 21 (2), pp 519-540 


Füllbrunn, S. (2011). Collusion or Sniping in simultaneous ascending Auctions - A Prisoner's Dilemma, International Game Theory Review, 13 (1), pp 75-82


Füllbrunn, S., Richwien, K.  & Sadrieh, A. (2011).  Trust and Trustworthiness in Anonymous Virtual Worlds, Journal of Media Economics, 24 (1), pp 48-63


Füllbrunn, S.  & Neugebauer, T. (2009). Anonymity deters collusion in hard-close auctions: experimental evidence, New Zealand Economics Papers, 43 (2), Special Issue: Laboratory experiments in economics, finance and political science, pp 131-148


Füllbrunn, S. (2009). Die Candle Auktion - Eine experimentelle Analyse, Magdeburg, Univ., Fak. für Wirtschaftswiss., Diss., [Elektronic Resource] 

Media Coverage    
Weiche Quote, harte Zahlen, Wirtschafts Woche, Nr. 11, 9 Mar 2015, by Heike Schwerdtfeger
The financial world should obviously be run by women, Quartz, 12 Feb 2015,  by Matt Philips
Cetaris Paribus, Interview, Economisch Statistische Berichten, Jaargang 100 (4702), 29 Jan 2015.
À  ses débuts - La finance expérimentale, Interview, Le Jeudi, 06. Oct 2011 (with Tibor Neugebauer)
Kreditfinanzierter Wertpapierkauf in der Kritik, Luxemburger Wort, 04. Feb 2011 (with Tibor Neugebauer)

Conferences, Seminars, and Workshops


Presentation at Conferences
2015 (planned) Maastricht Behavioral and Experimental Economics Symposium, ESA North American Meeting Dallas,

<2015 ESA North American Meeting, Fort Lauderdale, Florida, USA; ESA International Meeting, Zurich, Switzerland; Experimental Finance Tilburg, The Netherlands; ESA International Meeting, New York, USA; Experimental Finance Luxembourg; ESA European Meeting, Cologne, Germany; ESA Asia Pacific Meeting, Kuala Lumpur, Malaysia (conference travel grant by the National Research Fund (FNR)); ESA International Meeting, Chicago, Illinois, USA; ESA European Conference Luxembourg; Experimental Finance Innsbruck, Austria;  6th Nordic Conference on Behavioral and Experimental Economics, Lund, Sweden; ESA North American Meeting, Tucson, Arizona, USA; ESA International Meeting, Copenhagen, Denmark (conference travel grant by the National Research Fund (FNR)); Jahrestagung der Gesellschaft für experimentelle Wirtschaftsforschung e.V. (GfeW), Luxembourg; The Negotiation Center Seminar Series at University of Texas at Dallas, Texas, USA; ESA North American Meeting, Tucson, Arizona, USA; Southern Economic Association, 80th Annual Conference, Atlanta, Georgia, USA; ESA International Meeting Washington DC, USA; ESA Regional Meeting Europe Innsbruck, Austria (conference travel grant by the German academic exchange Service (DAAD)); Jahrestagung der Gesellschaft für experimentelle Wirtschaftsforschung e.V. (GfeW) Essen, Germany; ESA International Meeting, Pasadena, California, USA (conference travel grant by the Deutsche Forschungsgemeinenschaft (DFG)); Jahrestagung der Gesellschaft für experimentelle Wirtschaftsforschung e.V. (GfeW) Mannheim, Germany; 3rd Nordic Conference on Behavioral and Experimental Economics Copenhagen, Denmark; ESA North American Meeting Tucson, Arizona, USA; Jahrestagung der Gesellschaft für experimentelle Wirtschaftsforschung e.V. (GfeW), Köln, Germany
Invited Lectures in Research Seminars
2015 Seminar Talk at UTD, Seminar Talk at Texas A&M
<2015 Seminar Talk at the GLOBE Seminar at the University of Göttingen (Germany): Seminar Talk at the Finance Seminar of the University of Graz (Graz, Austria); Seminar Strategic Interaction Group, Max-Planck Institute of Economics (Jena, Germany)VWL Seminar, Ruhr University (Bochum, Germany), Seminar Graduate School; IME, Karlsruhe Institute of Technology (KIT)(Karlsruhe, Germany); The Negotiation Center Seminar Series, UTD (Dallas, Texas, USA) 

2015 Mini-Workshop: „Experimental Economics in Virtual Reality“, RWTH Aachen University (Germany)


<2015 Magdeburg Workshop on Anti-Social Economic Behavior (Magdeburg, Germany); Barcelona LEEX Experimental Economics Summer School in Macroeconomics

Universitat Pompeu Fabra, Barcelona, Spain; 12th Annual Visiting Graduate Student Workshop in Experimental Economics Arlington, Virginia, USA (presented by the International Foundation for Research in Experimental Economics (IFREE) and the Interdisciplinary Center for Economic Science (ICES))
Organization of Conferences
2015 Experimental Finance, Annual Meeting of the Society for Experimental Finance (Local Organizer)
European Science Association European Conference Luxembourg (Local Organizer)

2010 Annual Symposium of the German Society for Experimental Research (GfeW), Luxembourg (Local Organizer)



Research Grant from the Strategic Development Fund of the Ruhr-Universität Bochum (Germany), Scheme to Support Specific Activities of Young Researchers (with Wolfgang Luhan)
2009 AFR postdoc grant, co-funded by the European Commission under the Marie-Curie
COFUND scheme (APDR 09 044), Research project: Institutional Design, Speculative Bubbles and Crashes in Laboratory Asset Markets



Society for Experimental Finance (SEF), Economic Science Association (ESA), Gesellschaft für experimentelle Wirtschaftsforschung (GfeW)




National Science Foundation
Scientific Journals

American Economic Review, DBW - Die Betriebswirtschaft, Economic Inquiry, Experimental Economics (2), Games, Games and Economic Behavior, European Economic Review, International Journal of Game Theory, Journal of Behavioral and Experimental Economics, Journal of Economic Behavior and Organization (4), Journal of Economic Dynamics and Control, Journal of Economics, Journal of Institutional and Theoretical Economics, International Game Theory Review, International Journal of Industrial Organization, Management Science, Southern Economic Journal (2), Theory and Decision (2)




Master coordinator 2015/2016
Nijmegen School of Management's best teacher of the year 2014
Master Financial Risk Management (2013/2014/2015)
Advanced Behavioral Finance, shared (2014)
Bachelor Corporate Finance (2015)

Multinational Finance (2014/2015)
Behavioral Finance (2013/2014/2015)
Mathematical Economics and Business, shared (2012)
Software Introduction to z-Tree

Curriculum Vitae


Current Assistant Professor of Finance at Radboud University Nijmegen (tenured), Department of Economics 

Assistant Professor of Finance at Radboud University Nijmegen, Department of Economics (06/12 - 5/14) 

2012 Research Fellow at Max Planck Institute of Economics, Strategic Interaction Group (03/12 - 05/12)
2011 - 2012 Research Associate at University of Luxembourg, Faculty of Law, Economics and Finance, Luxembourg School of Finance (Project F2R-LSF-PUL-10IDIA, Institutional Design in Asset Markets, 12/11 - 02/12) 
2010   Visiting Scholar at University of Texas at Dallas, The School of Management, Contact: Prof. Dr. Ernan Haruvy (10/10 - 11/10)
2009 - 2011
  Research Fellow, University of Luxembourg, Faculty of Law, Economics and Finance, Luxembourg School of Finance (AFR Grant PDR 09 044, InstitutionalDesign, Speculative Bubbles and Crashes in Laboratory Asset Markets)

Dr. rer. pol. (summa cum laude), Otto-von-Guericke-Universität Magdeburg, Faculty of Economics and Management, Advisor: Prof. Dr. Abdolkarim Sadrieh

Prize of the Faculty of Economics and Management for best thesis 2008/2009


2004 - 2009

  Research Assistant at Otto-von-Guericke-Universität Magdeburg, Faculty of Economics and Management, Chair in E-Business


  Diploma in Economics and Management (Dipl. Oec.), Leibniz Universität Hannover, School of Economics and Management

1999 - 2004


Economics and Management, Leibniz Universität Hannover


1997 - 1999

  Apprenticeship: Clerk, Laatzen/Hanover