Behavioral and experimental economics | University of Pécs

Established in 2024, the Behavioral and Experimental Economics Research Laboratory was initiated by the research group of the Faculty of Business and Economics at the University of Pécs, specializing in economic psychology and behavioral and experimental economic analysis. Our aim is to conduct high-quality academic research while also offering our services to both domestic and international higher education institutions and corporate partners.

Our Services

Design of Research and Experimental Studies

We transform theoretical research questions into targeted study designs. Based on individual needs, we support the development of appropriate methodological frameworks—be it the simulation of interactive situations, decision-theoretical scenarios, or exploratory questionnaire-based research.

Development of Decision Interfaces

For academic and market-oriented research projects, we use the oTree platform built on the Python-Django web framework, which is ideal for programming complex experimental settings supported by game theory. In addition, we offer the development of simple surveys in both paper-based and electronic formats.

Conducting Experiments

Our laboratory experiments enable anonymous and controlled data collection tailored to diverse research objectives. Standardized and undisturbed conditions are ensured by 25 individual workstations equipped with dividers. In close collaboration with the Institute of Psychology at the Faculty of Humanities, University of Pécs, we offer complementary studies of the neural and physiological processes underlying economic decision-making. A 64-channel EEG device is available for measuring brain activity, while heart rate, respiration, and skin conductance are monitored using precision sensors.

Use of Incentives

Participants' decisions are motivated by real incentives—typically monetary rewards—ensuring engaged participation and reliable data collection. Incentivized decision-making scenarios provide a more accurate representation of real behavior compared to traditional, non-incentivized market research methods. Where appropriate, hypothetical decisions based on imagined scenarios can also be assessed, especially in cases where incentives are not required.

Data Analysis and Visualization

To ensure in-depth statistical analysis and clear visualization of the results, primary experimental data are processed using Stata and R software. Furthermore, we provide professional support for the preparation of scientific publications and executive summaries based on the identified findings.

Toolkit

Experimental Games

Implementation of interactions based on game-theoretical frameworks.

Incentivization Procedures

Revealing preferences or beliefs about others' actions.

Validated Questionnaires

Assessment of cognitive and non-cognitive skills, personality traits, and emotional states.

Collaboration

Institute of Psychology, Faculty of Humanities, University of Pécs

Investigation of the neural basis of decision-making (64-channel EEG system)
Measurement of physiological variables (heart rate, respiration, skin conductance)

Members

Olivér Béla Kovács, PhD

Head of Laboratory, oTree Developer

Phone extension: 23259

Email: kovacs.oliver [at] ktk.pte.hu (kovacs[dot]oliver[at]ktk[dot]pte[dot]hu)

Office: B308

Olivér Béla Kovács, PhD is a lecturer at the Institute of Finance and Accounting, Faculty of Business and Economics, University of Pécs. He earned his PhD in Economics in 2025 at the Doctoral School of Regional Policy and Economics of the University of Pécs. His research focuses on experimental economic analysis of prosocial behavior, altruism, and generosity. His scientific interests include enhancing the effectiveness of corporate micro-donation programs, as well as quantifying giving and waiting-side decisions in dictator games involving money and time. Within the Laboratory, his responsibilities include overseeing operations, designing experiments, programming decision interfaces, managing implementation processes, and conducting statistical analyses of the results.

Selected publications:

Kovacs, O. B. - Murai, G. - Szabo, Z. (2023): A dictator game study on human expectations of generosity using time as a reward medium. Economics Bulletin, Vol. 43. No. 2. pp. 999-1009.

Voros, Z., Szabo, Z., Kehl, D., Kovacs, O. B., Papp, T., & Schepp, Z. (2021). The forms of financial literacy overconfidence and their role in financial well‐being. International Journal of Consumer Studies, 45(6), 1292-1308.

Szabo, Z., Kovacs, O. B., Murai, G., Voros, Z., & Kehl, D. (2021). An age-representative exploration of pro-social behavior: human generosity-offerings, expectations, and fairness. Marketing & Menedzsment, 55(Special Issue 2), 5-19.

Zsófia Vörös, PhD

Senior Research Fellow

Phone extension: 23259

Email: voros.zsofia [at] ktk.pte.hu (voros[dot]zsofia[at]ktk[dot]pte[dot]hu)

Office: B308

Zsófia Vörös, PhD is a Senior Research Fellow at the Centre of Excellence for Economic Research, Faculty of Business and Economics, University of Pécs. She earned her PhD in Psychology in 2009 at the University of Poitiers in France. Her research focuses on the economic psychology of entrepreneurs. Her scientific interests include the underlying cognitive processing mechanisms, decision-making under uncertainty, and the mental frameworks leading to entrepreneurial behavior and innovation. Within the Laboratory, her responsibilities include the design of experiments and the statistical analysis of results.

Selected publications:

Voros, Z., & Kehl, D. (2025). Interactions between the promotion of prosocial and pro-self values, and entrepreneurial social identities in shaping value creation aims and passion. Social Responsibility Journal, 21(5), 925-939.

Gubik, A. S., & Voros, Z. (2023). Why narcissists may be successful entrepreneurs: The role of entrepreneurial social identity and overwork. Journal of Business Venturing Insights, 19, e00364.

Sándor Erdős, PhD

Lab Manager, Data Specialist

Phone extension: 23130

Email: erdos.sandor [at] ktk.pte.hu (erdos[dot]sandor[at]ktk[dot]pte[dot]hu)

Office: B215

Sándor Erdős, PhD is an Assistant Lecturer at the Institute of Finance and Accounting, Faculty of Business and Economics, University of Pécs. He earned his PhD in Management and Organizational Sciences in 2025 at the Doctoral School of Business Administration at the University of Pécs. His research focuses on behavioral finance, particularly the analysis of investor decision-making. His academic interests include the exploration of herding behavior and the underlying motivations behind borrowing and indebtedness. Within the Laboratory, his responsibilities include experiment design, supervision of implementation processes, and statistical evaluation of results.

Selected publications:

Erdos, S., & Varkonyi, P. L. (2024). Investigating macro herd behaviour: evidence from publicly traded German companies. Review of Behavioral Finance, 16(2), 266-281.

Erdos, S., Papp, T., & Voros, Z. (2022). The effects of community-based signals on investment decisions in copy trading. Journal of Behavioral and Experimental Economics, 97, 101847.

Erdős, S. (2021). The relationship between materialism and personal well-being: the dark side of Western consumer society. Marketing & Menedzsment, 55(1), 37-54.