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Department of Economics


You can find a complete list of publications in the CV (PDF, 271 KB) of Armin Schmutzler.

Some of my recent work is presented in the list below. 

Scholar Google Armin Schmutzler


Current working papers:

Research Joint Ventures: The Role of Financial Constraints

Work in progress, draft here soon (2022), (with Philipp Brunner and Igor Letina)


The Benefits of Procurement Auctions: Competitive Pressure vs. Selection of Efficient Suppliers. (PDF, 331 KB)

R&R, Journal of Transportation Economics and Policy (2021), (with Rafael Lalive and Christine Zulehner) 


Selecting Valuation Distributions: Non-Price Decisions of Multi-Product Firms (PDF, 581 KB)

R&R, Journal of Industrial Economics (2021), (with Stefanie Bossard)


Killer Acquisitions and Beyond: Policy Effects on Innovation Strategies (PDF, 756 KB)

CEPR (2020), DP15167, (with Igor Letina and Regina Seibel), new version (2021)




Challenging the incumbent: Entry in markets with captive consumers and taste heterogeneity (PDF, 369 KB)

Journal of Economics and Management Strategy (forthcoming), (with Christian Oertel)


The Hidden Benefits of High-Speed Rail (PDF, 174 KB)

Nature Climate Change, News and Views, 11: 902-903 (2022)


Preferences, Confusion and Competition (PDF, 733 KB)

The Economic Journal (2022), 132 (July), 1852-1881 (with Andreas Hefti and Shuo Liu)
Link to paper


Incentives and Motivation in Dynamic Contests (PDF, 991 KB)

Journal of Economic Behavior & Organization, 189 (2021), 194-216, (with Arnd Heinrich Klein)


Hunting Unicorns? Experimental Evidence on Predatory Pricing Policies (PDF, 1 MB)

Online Appendix (PDF, 714 KB)

Journal of Law and Economics, 62 (2019), 457-484, (with Aaron Edlin, Catherine Roux and Christian Thöni)


Cooperation and Mistrust in Relational Contracts (PDF, 582 KB)

Online Appendix (PDF, 372 KB)

Journal of Economic Behavior and Organisation, 166 (2019), 366-380, (with Holger Herz and André Volk)


Inducing Variety: A Theory of Innovation Contests (PDF, 797 KB)

International Economic Review, 60 (2019), 1757-1780, (with Igor Letina)


Does Expanding Regional Train Service Reduce Air Pollution? (PDF, 876 KB)

Journal of Environmental Economics and Management 92 (2018), 744-764, (with Rafael Lalive and Simon Lüchinger)


Optimal Effort Incentives in Dynamic Tournaments (PDF, 1 MB)

Games and Economic Behavior, 103 (2017), 199-224, (with Arnd Heinrich Klein)


Does globalization create superstars? A simple theory of managerial wages (PDF, 356 KB)

European Economic Review, 71 (2014), 34-51, (with Hans Gersbach)


Explaining Gift Exchange – The Limits of Good Intentions (PDF, 277 KB)

Journal of the European Economic Association 12 (2014), 1586-1616, (with Nick Netzer)


Lobbying and the Power of Multinational Firms

European Journal of Political Economy 36 (2014), 209-227, (with Adrian Müller and Andreas Polk)


Competition and Investment - A unified approach? (PDF, 391 KB)

International Journal of Industrial Organization (2013), 477-487


Cost-reducing investments - An experimental approach? (PDF, 210 KB)

Homo Oeconomicus (2013), 189-207


Product Markets and Industry-Specific Training (PDF, 282 KB)

RAND Journal of Economics 43 (2012), 475-491, (with Hans Gersbach)


A Unified Approach to Comparative-Statics Puzzles in Experiments (PDF, 327 KB)

Games and Economic Behaviour  71 (2011), 212-223


Foreign Direct Investment and R&D Offshoring

Oxford Economic Papers 63 (2011), 134–157, (with Hans Gersbach)


Is there a U-shaped relation between competition and investment? (PDF, 400 KB)

International Journal of Industrial Organization 29 (2011), 65-73, (with Dario Sacco)


Local Transportation Policy and the Environment (PDF, 347 KB)

Environmental and Resource Economics 48 (2011), 511–535 


Competition and Innovation: an Experimental Investigation (PDF, 181 KB)

Experimental Economics 13, (2010), 439-460, (with Donja Darai and Dario Sacco)


Self-Reinforcing Market Dominance (PDF, 328 KB)

Games and Economic Behavior 67 (2009), 481-502, (with Daniel Halbheer, Ernst Fehr and Lorenz Götte)


Merger  Negotiations and Ex-Post Regret (PDF, 679 KB)

Journal of Economic Theory  144 (2009), 1636-1664, (with Dennis Gärtner)


Exploring the Effects of Competition for Railway Markets (PDF, 212 KB)

International Journal of Industrial Organisation, 26 (2008), 443-458, (with Rafael Lalive)


Entry in liberalized railway markets: the German experience

Review of Network Economics 7 (2008), 37-52, (with Rafael Lalive)


Intimidating Competitors - Endogenous Vertical Integration and Downstream Investment in Successive Oligopolies (PDF, 306 KB)

International Journal of Industrial Organisation, 26 (2008), 247-265, (with Stefan Bühler)


Small Scale Entry vs. Acquisitions of Small Firms: Is Concentration Self-Reinforcing? (PDF, 29 MB)

Journal of Economic Behavior & Organization  65 (2008), 133-146, (with Zava Aydemir)


What does it take to sell Environmental Policy? An Empirical Analysis for Switzerland (PDF, 198 KB)

Environmental and Resource Economics 33 (2006), 441-462, (with Daniel Halbheer and Sarah Niggli)


Lobbying against Environmental Regulation vs. Lobbying for Loopholes (PDF, 293 KB)

European Journal of Political Economy 21 (2005), 915-931, (with Andreas Polk)


Asymmetric Vertical Integration (PDF, 287 KB)

Advances in Theoretical Economics  5 (2005), (with Stefan Bühler)


Infrastructure Quality in Deregulated Industries: Is there an Underinvestment Problem? (PDF, 274 KB)

International Journal of Industrial Organisation 22 (2004), 253-267, (with Stefan Bühler and Men-Andri Benz)


Endogenous Spillovers and Labor Contracts (PDF, 602 KB)

Journal of Economics and Management Strategy 12 (2003), 179-206, (with Hans Gersbach)      


Endogenous Spillovers and Incentives to Innovate (PDF, 570 KB)

Economic Theory 21 (2003), 59-79, (with Hans Gersbach)        


Investment and market dominance (PDF, 289 KB)

RAND Journal of Economics 32 (2001), 1-26, (with Susan Athey)


Environmental Regulation and Managerial Myopia

Environmental and Resource Economics 18 (2001), 87-100


Declining Costs of Communication and Transportation: What are the Effects on Agglomerations?

European Economic Review 44 (2000), 1745-1761, (with Hans Gersbach)


When do Firms Benefit from Environmental Regulation? (PDF, 141 KB)

Schweizerische Zeitschrift für Volkswirtschaft und Statistik 136 (2000), 513-530, (with Dario Bonato)


External Spillovers, Internal Spillovers, and the Geography of Production and Innovation

Regional Science and Urban Economics 29 (1999), 679-696, (with Hans Gersbach)


The New Economic Geography (PDF, 302 KB)

Journal of Economic Surveys 13, 355-380 (1999)


Changing Places - the Role of Heterogeneity and Externalities in Cumulative Processes

International Journal of Industrial Organization 16 (1998), 445-462


The Choice between Emission Taxes and Output Taxes under Imperfect Monitoring

Journal of Environmental Economics and Management 32 (1997), 51-74, (with Lawrence C. Goulder)


Pollution Control with Imperfect Information

Environmental and Resource Economics 7 (1996), 251-262


Product and Process Flexibility in an Innovative Environment

RAND Journal of Economics 26 (1995), 557-574, (with Susan Athey)


Flexibility in Intemporal Decision Making

Swiss Journal of Economics and Statistics 128 (1992), 185-204


A Brief Introduction to Neo-Austrian Capital Theory

Seoul Journal of Economics 3 (1990), 13-31, (with Malte Faber)

Weiterführende Informationen


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