Professoren
Prof. Dr. Klaus Schmidt

Prof. Dr. Klaus Schmidt

"Gossen Prize" of the German Economic Association (awarded each year to an economist under the age of 45 whose work has gained international reputation, September 2001)
Invited Lecture at the 8th World Congress of the Econometric Society on "The Economics of Fairness and Reciprocity" (with Ernst Fehr), Seattle, August 2000.
"Commerzbank Prize" of the Berlin-Brandenburg Academy of Sciences (awarded in June 2001 for excellent research)
"Teaching Prize" of the Bavarian ministry of science (awarded in 2000 for excellent teaching to 3 out of 800 professors of the University of Munich).
Research grant for a project on "Incomplete Contracts" by the German Science Foundation (since Jan. 1999)
Research grant for a project on "Venture Capital Finance" by the German Science Foundation (since April 1998)
Walter-Adolf-Jörn Prize of the University of Bonn (for best dissertation, 1993)
Grant of the German Academic Exchange Service (London 1988/89)
Scholarship of the "Studienstiftung des Deutschen Volkes" (1982-87)Articles in refereed journals:

"Convertible Securities and Venture Capital Finance", Journal of Finance, Vol. 58, No. 3 (2003, forthcoming), 1139-1166.

“Public Subsidies for Open Source? Some Economic Policy Issues” (with Monika Schnitzer), Harvard Journal of Law and Technology, Vol. 16, No. 2 (2003, forthcoming), 1- 33.

"Discrete-Time Approximations of the Holmström-Milgrom Brownian Motion Model of Intertemporal Incentive Provision" (with Martin Hellwig), Econometrica, Vol. 70, No. 6 (2002), 2225-2264.

“Der Markt für Venture Capital: Anreizprobleme, Governance Strukturen und staatliche Interventionen“ (with Georg Gebhardt), Perspektiven der Wirtschaftspolitik, Vol. 3, No. 3 (2002), 235-256.

"Fairness, Incentives, and Contractual Choices" (with Ernst Fehr), European Economic Review, Vol. 44, No. 4-6 (2000), 1057-1068.

"The Political Economy of Mass Privatization and the Threat of Expropriation", European Economic Review, Vol. 44, No. 2 (2000), 393-421.

"A Theory of Fairness, Competition and Cooperation" (with Ernst Fehr), Quarterly Journal of Economics, Vol. 114, No. 3 (1999), 817-868.

"Sequential Investments and Options to Own" (with Georg Nöldeke), The RAND Journal of Economics, Vol. 29, No. 4 (1998) 633-653.

"Managerial Incentives and Product Market Competition", Review of Economic Studies, Vol. 64 (1997), 191-214.

"Incomplete Contracts and Privatization", European Economic Review, Vol. 40 (1996), 569-580.

"Neúplné smlouvy a privatizace", Politická Economie, Vol. 44 (1996), 515-523 (Czech translation of "Incomplete Contracts and Privatization")

"Reputation in Perturbed Repeated Games" (with Martin Cripps and Jonathan Thomas), Journal of Economic Theory, Vol. 69 (1996), 387-410.

"The Costs and Benefits of Privatization - An Incomplete Contracts Approach", Journal of Law, Economics and Organization, Vol 12 (1996), 1-24.

"Option Contracts and Renegotiation: A Solution to the Hold-Up Problem" (with Georg Nöldeke), The Rand Journal of Economics, Vol. 26 (1995), 163-179.

"The Interaction of Explicit and Implicit Contracts" (with Monika Schnitzer), Economic Letters, Vol. 48 (1995), No. 2, 193-199.

"Reputation and Equilibrium Characterization in Repeated Games with Conflicting Interests", Econometrica, Vol. 61 (1993), 325-351.

"Commitment through Incomplete Information in a Simple Repeated Bargaining Game", Journal of Economic Theory, Vol. 60 (1993), 114-139.

"Privatization and Management Incentives in the Transition Period in Eastern Europe" (with Monika Schnitzer), Journal of Comparative Economics, Vol. 17 (1993), 264-287.


Books:

Contracts, Competition, and the Theory of Reputation, Habilitationsschrift, submitted to the faculty of economics at University of Bonn, October 1994.

Commitment in Games with Asymmetric Information, Dissertation, submitted to the faculty of economics at University of Bonn, June 1991.


Articles in Books:

„Theories of Fairness and Reciprocity – Evidence and Economic Applications“ (mit Ernst Fehr), in: Dewatripont, M. et.al., Advances in Economics and Econometrics, Eigth World Congress of the Econometric Society, Vol. 1, Cambridge: Cambridge University Press, 2003, 208-257.

„Anreizprobleme bei der Finanzierung von Wagniskapital“, in: W. Franz et.al. (eds.), Ökonomische Analyse von Verträgen, Tübingen: Mohr-Siebeck, 1999, 248-84.

"Contract Renegotiation and Option Contracts", in: Newman, Peter (ed.), The New Palgrave Dictionary of Economics and the Law, Vol. 1, London: McMillan, 1998, 432-436.

"Methods of Privatization: Auctions, Bargaining, and Giveaways" (with Monika Schnitzer), in: H. Giersch (ed.), Privatization at the End of the Century, Berlin: Springer, 1997, 97-134.

"Debt as an Option to Own in the Theory of Ownership Rights" (with Georg Nöldeke), in A. Picot und E. Schlicht (Hrsg.), Perspectives on Contract Theory, Physica Verlag, Berlin 1995, S. 1-15.

"A Comment on W. Bentley MacLeod, `Incentives in Organizations: An Overview of Some of the Evidence and Theory'", in Siebert, Horst (ed.), Trends in Business Organization: Do Participation and Cooperation Increase Competitiveness? S. 43-49, JCB Mohr (Paul Siebeck), Tübingen 1994


Book Reviews:

"Laffont, J.J. and J. Tirole: A Theory of Incentives in Procurement and Regulation", Journal of Institutional and Theoretical Economics, Vol. 150 (1994), 543-546.


Discussion Papers:

"Fairness, Incentives and Contractual Incompleteness" (with Ernst Fehr and Alexander Klein), CEPR Discussion Paper 2790, May 2001.

"Fairness and the Optimal Allocation of Property Rights" (with Ernst Fehr and Susanne Kremhelmer), mimeo, University of Munich, October 2002


Unpublished Manusscripts:

"Vertragstheorie", lecture notes for graduate classes on contract theory at MIT and Bonn and Munich Universities, October 1996, 299 pages.

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