Klaus M. Schmidt

Prof. Dr. Klaus M. Schmidt is a full Professor at the Institute of Economics, Ludwig Maximilian University of Munich, affiliated with the Department of Economic Theory. He serves as Spokesman of the Board and Deputy Spokesperson for the Board of Directors, focusing on economic policy and contract theory. His research bridges theoretical and applied economics, with a strong emphasis on behavioral economics and environmental policy.

• Institute: Institute of Economics
• Department: Department of Economic Theory
• Role: Spokesman of the Board

Research interests include:

• Contract Theory: Analyzing procurement, renegotiation inefficiencies, and ownership rights.
• Behavioral Economics: Studying loss aversion, reference-dependent preferences, and fairness in economic decisions.
• Environmental Economics: Designing carbon pricing mechanisms, congestion charges, and climate agreements.

Recent work explores climate policy (e.g., carbon pricing, congestion charges), contract theory (e.g., procurement, renegotiation), and behavioral dynamics (e.g., risk tolerance, social norms). His publications span theoretical and applied topics, including policy design and experimental economics. He actively contributes to public discourse through reports for the German Federal Ministry for Economic Affairs and Climate Action (BMWK).