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NRW Young Scientist Awards 2011

19.12.2011

On the 28th of November 2011, the eleven international graduate and research schools of the German federal state North Rhine-Westphalia (NRW), (including the Ruhr Graduate School in Economics - RGS Econ), bestowed the 6th NRW Young Scientist Award on worthy recipients.  This prize is awarded to undergraduate and graduate students for outstanding research work.  As in past years, the ceremony took place at the “Karl-Arnold-Haus der Wissenschaft” in Düsseldorf.  This year, Prof. Dr. Wolfgang Leininger, Director of the RGS Econ and Professor at TU Dortmund University, gave the opening speech and was Master of Ceremonies for the afternoon.  The welcome remarks were made by Dr. Beate Wieland, Ministry of Innovation, Science and Research of the State of North Rhine-Westphalia, who also gave the prizes (€1,500) to each of the six laureates.

This year, the RGS Econ (in joint cooperation with the CGS Cologne) awarded their prizes to Sebastian Ebert and Daniel Wiesen, both from the University of Bonn, for their research about third order risk aversion.  In their article “Testing for Prudence and Skewness Seeking“, published in Management Science in July 2011, the authors use an experimental method to test for prudence and skewness preference in the laboratory and compare each. Furthermore, they introduce a novel graphical representation of compound lotteries and test it for robustness by using a factorial design.

The ceremony was deemed a delightful afternoon by all attendees.