Institute for

Economics
, and Psychology

Economics and Psychology Combined.

The Institute for Economics & Psychology combines economic and psychological expertise for research, teaching, and practice. With an interdisciplinary focus, the team analyzes economic and human dynamics in organizations and markets.

Scientifically sound & practical.

Contact.

You can reach our institute team here.

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^Prof. (FH) Dr^. Birgit Teufer, BSc, BA, MA

Institute Leadership

Mission Statement

The Institute for Economics & Psychology at Ferdinand Porsche FERNFH combines economic and psychological perspectives in research and teaching. It oversees the Bachelor’s and Master’s degree programs in Business Administration and Business Psychology and provides in-depth knowledge of economic processes, the planning, organization, and management of businesses, human experience and behavior in organizations and markets, and the design of learning and work environments.

A key feature of the institute is its interdisciplinary focus. The team combines expertise in business administration —with a focus on marketing, human resource management, organizational theory, and accounting—and psychology, particularly in the areas of consumer, market, social, work, and organizational psychology, as well as economic psychology. This broad range of expertise enables the team to analyze economic and psychological issues holistically and to develop innovative solutions for both practice and academia.

R&D Priorities

Research at the Institute for Economics & Psychology is interdisciplinary, practical, and application-oriented. In close collaboration with the Institutes of Information Technology & Business Informatics and Health Sciences at the Ferdinand Porsche FERNFH, as well as with other universities and research institutions, we investigate current issues in business psychology. In doing so, we examine not only economic and organizational contexts, but also the experiences and behaviors of employees and consumers, as well as social and technological developments.

Our research focuses on three closely interrelated areas:

Sustainability and Economic-Psychological Perspectives on Sustainable Behavior
Sustainable economic and social transformation requires a deep understanding of individual, organizational, and structural factors. Our research examines how people make sustainable decisions, how organizations develop sustainable business models, and which psychological mechanisms promote or hinder sustainable behavior. In doing so, we consider not only consumer behavior but also corporate sustainability strategies and policy frameworks.
Work Environments & New Work – Changes in the World of Work and Their Psychological Implications
Digitalization, globalization, and societal developments are changing the way we work. Our research focuses on the challenges and opportunities presented by new forms of work, ranging from flexible work models to digital collaboration. Psychological factors such as motivation, leadership, well-being, and job satisfaction play a central role in this context. We also examine how to achieve healthy aging and a smooth transition to retirement in a modern work environment, and when this transition should take place—taking into account current trends and bridge employment.
Teaching and Learning in Digital and Hybrid Environments
Changes in the world of work are accompanied by increased demands on education and lifelong learning. Our research focuses on designing innovative teaching and learning formats that optimize knowledge transfer and effectively integrate digital media. In doing so, we examine how blended learning approaches, interactive learning environments, and adaptive learning systems can improve skill acquisition, and which factors influence learning success.

These three research priorities should not be viewed in isolation from one another, but rather as mutually influential: Sustainable development requires new work and organizational structures, while changes in the world of work, in turn, necessitate new educational formats. Education, in turn, can promote sustainable behavior. The digital transformation permeates all three areas—it is changing consumer behavior, economic structures, work processes, and teaching and learning concepts. Diversity is also a central cross-cutting theme in our work. We view diversity as an essential component of sustainable development, modern work environments, and future-oriented educational approaches. Our research focuses on the role of diversity in organizations, the effects of inclusive leadership, and equitable educational and learning formats designed to meet diverse needs.

Bringing Research to Life – Involving Students

Students are actively involved in our research—whether through project-based teaching formats, academic papers, or participation in empirical studies. At the same time, research findings are incorporated into teaching, enabling students to benefit from the latest scientific insights and receive a research- and evidence-based education that meets high standards of scientific quality.

Research That Makes a Difference

Our research projects combine scientific depth with societal relevance. We examine how work, learning, and consumption are changing amid digital and sustainable transformation—and how psychological insights can help us shape this transformation responsibly. From AI in education to motivation in flexible work environments: Our interdisciplinary projects generate well-founded knowledge and concrete solutions.

Climate Alliance-CoClimA Communities Research Project

The Hidden Costs of Flexible Work: Low Situational Agency as a Characteristic of Modern Knowledge Work and Its Adverse Effects on Intrinsic Motivation
Funding Agency: Austrian Science Fund (FWF)

Objective: This research project aims to fill gaps in our understanding of the effects of work flexibility on motivation, performance, and well-being, focusing on both employees and the self-employed. Research on the psychological effects of work flexibility has yielded mixed results, particularly regarding its impact on performance and well-being. Previous studies have overlooked key factors such as intrinsic motivation. Intrinsic work motivation refers to personal interest in and enjoyment of work (Gagné & Deci, 2005) and has been highlighted as the most important type of motivation for workers’ well-being (Van den Broeck et al., 2021). Based on the theory of situational strength (Meyer et al., 2010), we hypothesize that flexible working conditions promote intrinsic motivation by providing greater control, but can also reduce it due to unclear work expectations resulting from a lack of information.

Consequently, we hypothesize that lower situational strength can both increase control and reduce clarity at work, which may have both positive and negative effects on intrinsic motivation. However, personal resources (e.g., experience) and social resources (e.g., informational support) may mitigate the adverse impact of work flexibility on clarity. To test these hypotheses, we will conduct five research packages over a three-year period, including interviews, the development and validation of questionnaires, a longitudinal panel study, and an experimental vignette study. All studies will include both employees and self-employed individuals.

This project is the first to examine the effects of work flexibility from the perspective of situational strength. In doing so, we outline a psychological model of work motivation that is of great importance for understanding the experiences of employees in a contemporary, flexible work environment.

Term: June 2025 to May 2028

Project Leaders: Christian Korunka (University of Vienna), Julia Schöllbauer (University of Vienna, FERNFH)

Project Contributor: Ada Sil Patterer
Virtual Learning Companions in Distance Learning: How Generative Artificial Intelligence Can Support Learning
Client: Internal/FERNFH

Objective: The use of generative artificial intelligence (AI) is fundamentally changing the way we design teaching and learning. Particularly in innovative educational concepts such as blended learning programs in distance education—which are based on constructivist and self-directed learning—numerous concrete opportunities are emerging to enhance the quality of teaching and learning processes and to further develop them from a didactic perspective. In this context, AI chatbots represent a promising tool for media-based instruction: as virtual learning companions, they can support students in developing research skills, critical thinking, and problem-solving abilities, while simultaneously enabling personalized learning processes.

In the “Finance and Investment” course of the bachelor’s program in “Business Administration and Business Psychology,” students were offered easy access via the online campus to a chatbot based on OpenAI’s GPT architecture, which they could use on a voluntary basis. The generative AI, tailored to the specific requirements of the course, served as an organizational and academic support tool and enriched the teaching and learning environment as a virtual learning assistant. Currently, both the actual usage patterns and the results of interviews with 13 students are being analyzed. The goal is to systematically identify and critically reflect on the opportunities and challenges of integrating generative AI into the learning processes of a distance learning program.

Duration: April 2024 to present

Project Manager: Günther Wenzel

Project Team: Nicole König, Andreas Pashchenko
The Presence of Eco-Taxes and Sustainability Information on Menus: Effects on the Selection of Meat Dishes
Client: Internal/FERNFH

Objective: The objective of this internally funded research project is to investigate how different forms of information presentation on menus—in particular, the highlighting of eco-taxes and sustainability information—influence consumer behavior regarding meat-based dishes. Several online experiments were conducted to test whether increased salience (visibility) of this information encourages the selection of vegetarian dishes. The project builds on an award-winning master’s thesis at FERNFH, which laid the groundwork for the design and evaluation of the study. The results are intended to contribute to the development of evidence-based recommendations for sustainable consumer interventions in the food service sector.

Duration: July 2024 to August 2025

Project Leader: Katharina Rieck (FERNFH alumna), with professional guidance from Birgit Teufer

Project Contributor: Andreas Pashchenko
Strategies for Financing Harvest Shares in Community-Supported Agriculture for Socioeconomically Disadvantaged Households in Austria
Client: Internal/FERNFH

Objective: The objective of this internally funded research project is to examine the potential of Community-Supported Agriculture (CSA) in Austria among people with lower incomes and to determine which pricing models and subsidy schemes are most attractive and acceptable to this target group. The study aims to determine the willingness to participate in a CSA program, the acceptable price for harvest shares, and the preferred forms of subsidies (e.g., public funding, member donations, income-based pricing). The research aims to understand the specific barriers and motivations for participating in CSAs among economically disadvantaged population groups and, ultimately, to develop concepts that enable broader participation in this sustainable system and offer both environmental and health benefits.

Duration: October 2023 through June 2025

Project Manager: Birgit Teufer

Project Contributor: Vivien Marx

Digital Transformation

Perspectives from Business Psychology on Digital Transformation
Digital transformation is permeating every aspect of our society—it is changing consumer behavior, work processes, economic structures, and learning environments. At the Institute for Economics & Psychology, we analyze these developments from an interdisciplinary perspective, combining economic and psychological approaches.

Among other things, our research examines how digital technologies influence decision-making, communication, and collaboration. We focus on individual, organizational, and societal impacts.
Integration into Teaching and Research
In our teaching, we impart skills for critical reflection and the responsible shaping of digital change processes. Students analyze digital phenomena from the perspective of business psychology and develop practical solutions.
In our research, we address topics such as digital stress, trust in technology, digital consumer behavior, and the effectiveness of new learning formats—always with an eye toward scientific rigor and societal relevance.

Knowledge Transfer / Transfer Services

The Institute for Economics & Psychology is actively connected within the academic community. This includes, among other things:

Guest lectures and interdisciplinary research discussions that promote dialogue with external experts.

Participation in scientific conferences to present research findings and discuss them with the international research community.

Publications in renowned journals— both those with a scientific focus and those in so-called “communities of practice” with practical relevance for professional and occupational groups.

Connecting Research, Teaching, and Practice

With its research-driven and practice-oriented approach, the Institute for Economics & Psychology contributes to the advancement of topics in business psychology. Through the close integration of research, teaching, and practice, as well as interdisciplinary collaboration with other fields, we develop scientifically sound and application-oriented insights that help shape business and society in a sustainable way.

We look forward to engaging with interested partners from academia, industry, and civil society. Whether through research collaborations, guest lectures, corporate partnerships, or joint projects —we are open to new ideas and interdisciplinary collaboration. If you are interested in a collaboration or have ideas for joint initiatives, please feel free to contact us.

Our Employees*

Our institute thrives because of the people who shape it. Our staff members contribute their professional expertise, dedication, and diverse perspectives to research, teaching, and practice. Here, we’d like to introduce you to our team—a group of competent, experienced professionals who are passionate about what they do.