EKONOMICKY USTAV AKADEMIE VED CESKE REPUBLIKY VEREJNA VYZKUMNA INSTITUCE

Their core work

The Economics Institute of the Czech Academy of Sciences is a research institute specializing in behavioral economics and decision-making under uncertainty. Their core work investigates how people process information imperfectly — through inattention, cognitive frictions, and bounded rationality — and what this means for economic policy. They develop formal economic models that explain why individuals make systematic errors when facing complex choices, with applications ranging from consumer behavior to public health policy responses like those seen during COVID-19.

What they specialise in

How they've shifted over time

Their early H2020 work (2016–2018) focused on foundational theory — stochastic choice models, information processing frictions, and the microfoundations of why people deviate from rational behavior. From 2020 onward, the focus shifted toward applied behavioral economics with real-world policy relevance: rational inattention in economic settings, model uncertainty, and pandemic impact assessment. The trajectory shows a clear move from building theoretical tools to deploying them on policy-relevant questions.

They are increasingly connecting their theoretical inattention models to real-world policy questions (health, macroeconomics), making them a strong partner for projects needing rigorous behavioral economics grounded in formal theory.

How they like to work

This is predominantly a project-leading organization: they coordinate 3 out of 4 projects, all funded through prestigious ERC grants (2 Consolidator, 1 Starting Grant). Their single participation role in a large cross-national consortium (SHARE-COVID19) suggests they join external projects selectively, only when it aligns tightly with their expertise. With 17 unique partners across 12 countries from just 4 projects, they build broad but focused networks rather than repeatedly working with the same teams.

Despite a small project portfolio, they have built a notably diverse network of 17 partners across 12 countries, driven largely by the multi-country SHARE-COVID19 consortium. Their collaborative reach spans well beyond Central Europe.

What sets them apart

They are one of very few European research groups running a sustained, ERC-funded program specifically on rational inattention — a niche but increasingly influential field in economics. Their ability to win three competitive ERC grants on closely related topics signals deep, internationally recognized expertise. For any consortium needing rigorous behavioral economics modeling — whether for policy design, market analysis, or understanding public responses to regulation — they bring rare theoretical depth backed by a strong funding track record.

Highlights from their portfolio

• ATTENTION
  Their largest grant (EUR 1.16M ERC Consolidator) running to 2027, representing the culmination of a decade-long research arc on economics of inattention.
• INATTENTION
  The project that launched their ERC-funded inattention research program in 2016, establishing the theoretical foundation for all subsequent work.
• SHARE-COVID19
  Their only participant role — a cross-national study on pandemic policy effects, showing they can apply their behavioral expertise to urgent real-world crises.