Paul Grass
Paul Grass
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I am a PhD student at the University of Bonn, advised by Florian Zimmermann and Christopher Roth.
My research interests are in behavioral economics and household finance. In my research, I study how people mentally represent their environment and how these representations affect their financial decision-making.
Please find my CV here.
Working Papers
Sticky Models (with Philipp Schirmer and Malin Siemers), June 2026 (New version)
People often form initially incomplete mental models, revising them as new variables become observable. We show experimentally that models are ‘sticky’: final models remain strongly influenced by earlier models formed using a subset of variables. Sticky models occur across three different data-generating processes and across heterogeneous reasoning types of subjects. Guided by a simple framework of dynamic model formation, we identify cognitive effort allocation as a key mechanism: across all DGPs, stickiness is driven by subjects who exert relatively less cognitive effort during the model revision relative to the initial model formation.
Selected Work in Progress
Climate Policy Uncertainty and Household Investments (with Andreas Gerster, Kathrin Kaestner and Michael Kramm)
Model Spillovers and Investor Expectations
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