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Cluster of Excellence ECONtribute: Markets and Public Policy

Markets & Public Policy, the Cluster of Excellence in economics of the Universities of Cologne and Bonn conducts research on markets, focusing on the tension between business, politics and society (public policy). The aim of the scientists involved in the Cluster is to better understand markets and to develop a new paradigm for the analysis of market failure that goes beyond traditional approaches and takes current political, social and technological challenges into account.

Prof. Dr. Felix Bierbrauer

With ECONtribute, we want to hazard a new, comprehensive perspective on markets. Financial crises, the need to regulate digital markets or increasing and persistent inequality – traditional perspectives are not sufficient. With ECONtribute, we will not only develop insights from the field of economics, but also from political science, psychology and law.

Prof. Dr. Felix Bierbrauer, designated spokesperson ECONtribute, WiSo Faculty

Meeting new market challenges

Social concerns such as fairness, social mobility and social responsibility should be taken into account in the design of markets. In the work of the Cluster, these objectives will be systematically integrated into the analysis of incentives, market mechanisms and political decision-making processes.
Professor Isabel Schnabel, designated spokesperson at the University of Bonn, says, “We will provide new answers to the question of how markets produce good results and in which cases more political regulation is needed. To achieve this, we will rely on close exchange with political decision makers and the public sphere. We want the ECONtribute network to establish an entirely new dialogue between top research and policy.” The ECONtribute Cluster will meet the new challenges of markets under the roof of the Reinhard Selten Institute, which both universities founded 2017.

More information can be found on the web page of the Reinhard Selten Institute: