Cluster of Excellence ECONtribute: Markets & Public Policy
ECONtribute: Markets & Public Policy, theonly German Cluster of Excellence in economics run by the Universities of Cologne and Bonn, has been researching markets with a special focus on the tension between business, politics and society (public policy) since 2019.
ECONtribute hazards a new, comprehensive perspective on markets. For questions about global financial crises, the best way to regulate digital markets or deepening inequality – traditional perspectives don’t have the answers. With ECONtribute, we are not satisfied with exploring these issues from the perspective of economics and actively seek further insight from political sciences, sociology, psychology and law.
Responding to market challenges
The aim of the scientists involved in the cluster is to better understand markets and to develop a new paradigm for analysing market failures that goes beyond traditional approaches and takes current political, social and technological challenges into account. Social concerns such as fairness, social mobility and social responsibility must be taken into account in the design of markets. In the cluster's work, these objectives are systematically integrated into the analysis of incentives, market mechanisms and political decision-making processes.
