The Research Unit
The Research Unit (RU) consists of seven internationally recognized experts in the fields of finance, insurance, mathematics, taxation, econometrics and statistics. The unique composition of our RU, in which all the participating researchers have experience in working on projects of a quantitative nature, makes us particularly capable of dealing with the research questions related to regulatory uncertainty with high practical relevance.
Prof. Dr. Nicole Bäuerle is Dean of Studies at the Faculty of Mathematics at KIT. She has already extensively worked on asset allocation problems with parameter uncertainty where in particular the influence of prior beliefs is discussed, and on decision problems outside the expected utility framework.
nicole.baeuerle@kit.edu
Karlsruhe Institute of Technology
Deputy Spokesperson
Nicole Bäuerle
Nicole Branger
Münster University
Prof. Dr. Nicole Branger is a leading expert in asset pricing. Her research has focused on pricing derivatives, the impact of jump risk in asset allocation and asset pricing, and on asset pricing in long-run risk models. Recently, she has worked on asset allocation and asset pricing in network economies.
nicole.branger@wiwi.uni-muenster.de
An Chen
Ulm University
Prof. Dr. An Chen has a strong track record in the area of optimal asset allocation problems in continuous time for concave and non-concave risk preferences with and without risk constraints. She also contributes to insurance science by examining the impact of regulation and product design on investment and
risk management.
an.chen@uni-ulm.de
Spokesperson
Monike Gehde-Trapp
Tübingen University
Prof. Dr. Monike Gehde-Trapp is working on investment management and financial market microstructure. In her research, she focuses on the impact of financial market frictions and regulation on delegation portfolio management in equity, bond, and derivatives markets. She has also studied the impact of frictions on asset prices.
monika.gehde-trapp@uni-tuebingen.de
Antje Mahayni
Duisburg-Essen University
Prof. Dr. Antje Mahayni is a leading expert in risk management and asset allocation. Her research includes robustness of hedging and dynamic portfolio insurance strategies under model risk and further sources of market incompleteness. Her recent research focuses on ambiguity and its implications for portfolio optimization.
antje.mahayni@uni-due.de
Melanie Schienle
Karlsruhe Institute of Technology
Prof. Dr. Melanie Schienle is a is a leading expert in econometric methods, financial econometrics and statistics. Her research has evolved from the determination of nonlinear structures in high-and mixed frequency data to the detection of dynamic network structures in the context of systemic risk.
melanie.schienle@kit.edu
Caren Sureth-Sloane
Paderborn University
Prof. Dr. Caren Sureth-Sloane is a leading expert in investment implications of taxes and tax uncertainty. She has a strong track record in theoretical analyses of the impact of taxes on investment decisions under uncertainty in real option models. She established a measure for tax complexity and has investigated investors' willingness to pay for a tax uncertainty shield.
caren.sureth@uni-paderborn.de
Principal Investigators
Other Associated Members
Ulm University
Dr. Shihao Zhu is a postdoctoral researcher at Ulm University whose work focuses on insurance economics, financial mathematics, and stochastic control, with interest in asset allocation, regulatory uncertainty, and decision-making under ambiguity in insurance and financial markets.
shihao.zhu@uni-ulm.de
Amelie Grull
Karlsruhe Institute of Technology
Amelie Grull is a Ph.D. student candidate at the Karlsruhe Institute of Technology whose research focuses on portfolio optimization, quantitative finance, and treasury management, with interest in how uncertainty and risk considerations shape modern asset-allocation decisions.
amelie.grull@student.kit.edu
Hasti Kakakhani
Tübingen University
Hasti Kakakhani is a Ph.D. student at the University of Tübingen whose research focuses on ESG integration and green finance, with interest in how financial intermediaries react to regulatory and climate-policy uncertainty in sustainability-driven markets.
hasti.kakakhani@uni-tuebingen.de
Federico Kreilkamp
Duisburg-Essen University
Federico Kreilkamp is a Ph.D. student at the University of Duisburg-Essen whose research focuses on asset pricing, sustainability, and ESG rating inconsistency, with interest in how regulatory uncertainty affects pricing dynamics and sustainable investment behavior.
federico.kreilkamp@uni-due.de
Gereon Seifert
Paderborn University
Gereon Seifert is a Ph.D. student at Paderborn University whose research focuses on business taxation, decision theory, and investment taxation, with interest in how regulatory and tax uncertainty influence corporate and investor behavior.
gereon.seifert@upb.de
Laura Wiredu
Paderborn University
Laura Wiredu is a Ph.D. student at Paderborn University whose research centers on business taxation, sin taxes, and tax effects in financial markets, with interest in how tax and regulatory uncertainty shape dividend expectations and capital-income decisions.
laura.wiredu@upb.de
Lotta Rüter
Karlsruhe Institute of Technology
Lotta Rüter is a Ph.D. student at the Karlsruhe Institute of Technology whose work focuses on statistical inference, model selection, and probabilistic forecasting, with interest in measuring and modeling climate-policy uncertainty in financial and economic applications.
lotta.rueter@kit.edu
Jonathan Lodde
Duisburg-Essen University
Jonathan Lodde is a Ph.D. student at the University of Duisburg-Essen whose research focuses on asset pricing, sustainable finance, and ESG data analytics, with interest in how regulatory developments and uncertainty shape investor behavior and market responses.
jonathan.lodde@uni-due.de
Mingyu Liu
Ulm University
Mingyu Liu is a Ph.D. student at Ulm University whose research centers on decision-making under ambiguity, focusing on insurance demand, information acquisition, and the effects of regulatory and tax uncertainty on financial decisions.
mingyu.liu@uni-ulm.de
Dr. Shihao Zhu
(coordination role)