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Georg Kirchsteiger


Welcome to my website. I am Professor of Microeconomics at the European Center of Advanced Research in Economics and Statistics (ECARES), Université libre de Bruxelles. I received my PhD from the University of Vienna. Before I moved to Brussels in 2004, I worked at the universities of Vienna, Tilburg, and Maastricht.

My research interests are in the fields of behavioral economics, experimental economics, game theory, and industrial economics. In 2000 I received the Hicks-Tinbergen Award of the European Economic Association (with Ernst Fehr and Arno Riedl).

I teach graduate microeconomics, behavioral economics, and game theory.


ECARES, Université Libre de Bruxelles                               E-mail:

Office: Av. FD Roosevelt 42, R42.6.203                               Phone: + 32 2 650 42 12

Mail: Av. FD Roosevelt 50, CP 114/04

1050 Brussels



Alós-Ferrer C., Kirchsteiger, G., & Buckenmaier, J. (2022). Do Traders Learn to Select Efficient Market Institutions? Experimental Economics, 25, 203-228.

Di Guida, S., Han, T., Kirchsteiger, G., Lenaerts, T., & Zisis, I. (2021). Repeated interaction and its impact on cooperation and surplus allocation - an experimental analysis. Games, 12(1), 25. (Supplementary Material).

Domingos, E., Grujić, J., Burguillo, J., Kirchsteiger, G., Santos, F., & Lenaerts, T. (2020). Timing uncertainty in collective risk dilemmas encourages group reciprocation and polarization. iScience, 23(12).

Dufwenberg, M., & Kirchsteiger, G. (2019). Modelling Kindness. Journal of Economic Behavior & Organization, 167, 228-234.

Aldashev, G., Kirchsteiger, G., & Sebald, A., (2017). Assignment procedure biases in randomized policy experiments. Economic Journal, 127, 873–895.

Alós-Ferrer, C., & Kirchsteiger, G. (2017). Market selection by boundedly-rational traders under constant returns to scale. Economic Letters, 153, 51-53.

Conconi, P., DeRemer, D., Kirchsteiger, G., Trimarchi, L., & Zanardi, M. (2017). Suspiciously timed trade disputes. Journal of International Economics, 105, 57-75.

Kirchsteiger, G., Mantovani, M., Mauleon, A., & Vannetelbosch, V. (2016). Limited farsightedness in network formation. Journal of Economic Behavior & Organization, 128, 97-120.

Zisis, I., Di Guida, S., Han, T., Kirchsteiger, G., & Lenaerts, T. (2015). Generosity motivated by acceptance - evolutionary analysis of an anticipation game. Scientific Reports, 5, 18076.

Alós-Ferrer, C., & Kirchsteiger, G. (2015). Learning and market clearing: Theory and experiments. Economic Theory, 44(3), 339-360.

Karle, H., Kirchsteiger, G., & Peitz, M. (2015). Loss aversion and consumption choice: Theory and experimental evidence. American Economic Journal: Microeconomics, 7(2), 101–120.

Dufwenberg, M., & Kirchsteiger, G. (2014). Reciprocity and the ultimatum game. In: How Werner Güth's ultimatum game shaped our understanding of social behavior (E. van Damme et al.), Journal of Economic Behavior & Organization, 108, 292-314.

Dufwenberg, M., Heidhues, P., Kirchsteiger, G., Riedel, F., & Sobel, J. (2011). Other-regarding preferences in general equilibrium. Review of Economic Studies, 78(2), 613-639.

Alós-Ferrer, C., & Kirchsteiger, G. (2010). General equilibrium and the emergence of (non)market clearing trading institutions. Economic Theory, 44(3), 339-360.

Kirchsteiger, G., & Sebald, A. (2010). Investments into education - Doing as the parents did. European Economic Review, 54(4), 501–516.

Alós-Ferrer, C., Kirchsteiger, G., & Walzl, M. (2010). On the evolution of market institutions: The platform design paradox. Economic Journal, 120(543), 215-243.

Kirchsteiger, G., Rigotti, L. & Rustichini, A. (2006). Your morals might be your moods. Journal of Economic Behavior & Organization, 59(2), 155-172.

Kirchsteiger, G., Niederle, M., & Potters, J. (2005). Endogenizing market institutions: An experimental approach. European Economic Review, 49(7), 1827-1853;

Huck, S., Kirchsteiger, G., & Oechssler, J. (2005). Learning to like what you have - Explaining the endowment effect. Economic Journal, 115, 689-702. (Technical Appendix).

Burda, M., Güth, W., Kirchsteiger, G., & Uhlig, H. (2005). Employment duration and resistance to wage reductions: Experimental evidence. Homo Oeconomicus, 22(2), 169-189

Dufwenberg, M., & Kirchsteiger, G. (2004). A theory of sequential reciprocity. Games and Economic Behavior, 47(6), 268-298.

Kirchsteiger, G., & Prat, A. (2001). Inefficient equilibria in lobbying. Journal of Public Economics, 82(3), 349-375.

Kerschbamer, R., & Kirchsteiger, G. (2000). Theoretically robust but empirically invalid? An experimental investigation into tax equivalence. Economic Theory, 16(3), 719-734

Dufwenberg, M., & Kirchsteiger, G. (2000). Reciprocity and wage undercutting. European Economic Review, 44(4-6), 1069-1078.

Güth, W., Kirchsteiger, G., & Ritzberger, K. (1998). Imperfectly observable commitments in n-player games. Games and Economic Behavior, 23(1), 54-74.

Fehr, E., Kirchsteiger, G., & Riedl, A. (1998). Gift exchange and reciprocity in competitive experimental markets. European Economic Review, 42(1), 1-34.

Puppe, C., & Kirchsteiger, G. (1997). On the possibility of efficient private provision of public goods through government subsidies. Journal of Public Economics, 489-504.

Fehr, E., Gächter, S., & Kirchsteiger, G. (1997). Reciprocity as a contract enforcement device: Experimental evidence. Econometrica, 65(4), 833-860.

Puppe, C., & Kirchsteiger, G. (1997). On the formation of political coalitions. Journal of Institutional and Theoretical Economics, 153(2), 293-319

Fehr, E., Gächter, S., & Kirchsteiger, G. (1996). Reciprocal fairness and noncompensating wage differentials. Journal of Institutional and Theoretical Economics, 152(4), 608-640

Puppe, C., & Kirchsteiger, G. (1996). Intransitive choices based on transitive preferences: The case of menu-dependent information. Theory and Decision, 41(1), 37-58.

Fehr, E., Kirchsteiger, G., & Riedl, A. (1996). Involuntary unemployment and non-compensating wage differentials in an experimental labour market. Economic Journal, 106, 106-121.

Kirchsteiger, G. (1994). The role of envy in ultimatum games. Journal of Economic Behavior & Organization, 25(3), 373-389.

Fehr, E., & Kirchsteiger, G. (1994). Insider power, wage discrimination, and fairness. Economic Journal, 104, 571-583. Reprinted in: Behavioral Macroeconomics, Ian McDonald (ed.), Edward Elgar Publishing, 2012.

Fehr, E., Kirchsteiger, G., & Riedl, A. (1993). Does fairness prevent market clearing? An experimental investigation. Quarterly Journal of Economics, 108(2), 437-459.

Working Papers

Kirchsteiger, G., & Larch, M. (2023). The enforcement dilemma of EU fiscal rules. CEPR Discussion Paper 18304

Kirchsteiger, G., Lenaerts, T., & Suchon, R. (2022). Does voluntary information disclosure lead to less cooperation than mandatory disclosure? Evidence from a sequential prisoner’s dilemma experiment. CEPR Discusssion Paper 17481

Aghadadashli, H., Kirchsteiger, G., & Legros, P. (2021). Cheap talk is not cheap: Free versus costly communication. CEPR Discusssion Paper 15843

Bouton, L., & Kirchsteiger, G. (2015). Good rankings are bad: Why reliable rankings can hurt consumers. NBER Working Paper 21083


Game Theory with Applications to Economics (ECON-S-412)

      Course description

Graduate Microeconomics I (ECON-S-510)

      Course description

Behavioral Economics (ECON-S-513)

      Course description plus reading list

Graduate Microeconomics III (ECON-S-519)

      Course description plus reading list