Max Planck Institute for Behavioral Economics
The Max Planck Institute for Behavioral Economics, formerly known as the Max Planck Institute for Research on Collective Goods is an economics research institute located in Bonn, Germany. It is one of 85 institutes in the Max Planck Society, a non-governmental and non-profit association of German research institutes.
In previous years the institute studied the law, economics and politics of collective goods. Today the institute is interested in understanding the motivation for and the roots of economic behavior, as well as the influence of institutions on such behavior, with an emphasis on how institutional design can improve human decision making. The institute has two departments and one independent research group: Market Design and Behavior, Experimental Economics, and Behavioral Economics and Data Science. Research includes the formation of economic preferences, such as risk, time and social preferences; the design of markets and institutions; paternalism; fairness and redistributive preferences, as well as development economics.