Dr. Gunnar Gutsche

Post-doctoral Researcher

Dr. Gunnar Gutsche
Nora-Platiel-Str. 4
34127 Kassel
34109 Kassel (Postal address)
Telephone: +49 561 804-7505
E-Mail: gunnar.gutsche[at]uni-kassel[dot]de
Office Hours: Wednesday 15:00 – 16:00



Scientific Career

  • October 2022 - Present
    Post-doctoral researcher, Chair of Sustainable Finance, Faculty of Economics and Management, University of Kassel
  • September 2021 - Present
    Lecturer for Statistics and (Empirical) Methods at the Faculty of Economics and Management, University of Kassel
  • January 2017 - Present
    Post-doctoral researcher at the Unit Empirical Economic Research, Faculty of Economics and Management, University of Kassel
  • January 2017
    Doctorate in economics, University of Kassel
    Title of dissertation: "Sustainable and responsible investments & private investors in Germany"
  • October 2011– January 2017
    Research associate at the Unit Empirical Economic Research, Faculty of Economics and Management, University of Kassel


  • May 2011
    Diploma in economics, Georg-August-Universität in Göttingen
    Main focus: Statistics, econometrics and finance
    Topic of diploma thesis: "Untersuchung der Studienleistungen von Bachelor-Studierenden der Wirtschaftswissenschaftlichen Fakultät der Universität Göttingen"
  • October 2006 – April 2011
    Student associate at the Institute for Statistics and Econometrics at Georg-August-Universität in Göttingen
  • Empirical Economic Research
  • Sustainable and Responsible Investment (SRI)
  • Behavioral Finance
  • Behavioral Economics
  • Corporate Social Responsibility (CSR)

Current Research Projects

  • Climate Impact Investing (ClimVest)
  • Sustainable Finance Research Platform (WPSF)
  • Invesment Funds for low-carbon Infrastructure (IF)


Dannenberg, A., Gutsche, G., Batzke, M.C.L., Christens, S., Engler, D., Mankat, F., Möller, S., Weingärtner, E., Ernst, A., Lumkowsky, M., von Wangenheim, G., Hornung, G., Ziegler, A., 2024. The Effects of Norms on Environmental Behavior. Review of Environmental Economics and Policy NN. https://doi.org/https://doi.org/10.1086/727588
Engler, D., Gutsche, G., Simixhiu, A., Ziegler, A., 2023. On the relationship between corporate CO2 offsetting and pro-environmental activities in small- and medium-sized firms in Germany. Energy Economics 118, 106487. https://doi.org/https://doi.org/10.1016/j.eneco.2022.106487
Gutsche, G., Wetzel, H., Ziegler, A., 2023. Determinants of individual sustainable investment behavior - A framed field experiment. Journal of Economic Behavior and Organization 209, 491–508. https://doi.org/https://doi.org/10.1016/j.jebo.2023.03.016
Engler, D., Groh, E.D., Gutsche, G., Ziegler, A., 2021. Acceptance of climate-oriented policy measures under the COVID-19 crisis: an empirical analysis for Germany. Climate Policy 21, 1281–1297. https://doi.org/10.1080/14693062.2020.1864269
Fischer, B., Gutsche, G., Wetzel, H., 2021. Who wants to get involved? Determining citizen willingness to participate in German renewable energy cooperatives. Energy Research & Social Science 102013.
Gutsche, G., Nakai, M., Arimura, T.H., 2021. Revisiting the determinants of individual sustainable investment - The case of Japan. Journal of Behavioral and Experimental Finance 100497.
Gutsche, G., Zwergel, B., 2020. Investment Barriers and Labeling Schemes for Socially Responsible Investments. Schmalenbachs Business Review (zfbf) 72, 111–157. https://doi.org/https://doi.org/10.1007/s41464-020-00085-z
Gutsche, G., 2019. Individual and regional Christian religion and the consideration of sustainable criteria in consumption and investment decisions: An exploratory econometric analysis. Journal of Business Ethics 157, 1155–1182.
Gutsche, G., Köbrich, A., Ziegler, A., 2019. On the relevance of contextual factors for socially responsible investments: An econometric analysis. Oxford Economic Papers 71, 756–776.
Gutsche, G., Ziegler, A., 2019. Which private investors are willing to pay for sustainable investments? Empirical evidence from stated choice experiments. Journal of Banking and Finance 193–214.
Gutsche, G., Ziegler, A., Zwergel, B., Klein, C., 2017. Characterizing German (Sustainable) Investors. Corporate Finance 2017, 77–81.