Raphael Max

Raphael Max is a researcher in economic and financial ethics with a strong interest in the history of economic and ethical thought and the empirical study of moral perceptions about markets. He earned his PhD in Economics (Dr. rer. pol., summa cum laude) from the Technical University of Munich and is currently a Postdoc and Habilitation Candidate at the Chair of Economic and Social Ethics at the University of Hohenheim.

Raphael’s work brings together normative questions - What should markets do? What can we reasonably expect from them? - with a behavioral and institutional perspective on how people actually think and decide. His research speaks to contemporary debates about libertarianism, liberalism, and market-oriented politics, including questions students and the broader public often ask: What do libertarians really want? What does “liberalism” mean today? How should we interpret figures like Javier Milei? And what did thinkers like Friedrich Hayek actually claim - can any of it be tested empirically?

A central theme of Raphael’s research is how people perceive market-based solutions: when they are seen as fair, legitimate, and effective - and when they trigger resistance, moral outrage, or even ethical disgust. He is particularly interested in incentive systems, moral emotions, and the behavioral foundations of economic and financial institutions. Methodologically, he primarily works with empirical and experimental approaches, drawing on behavioral economics and behavioral ethics to better understand how humans respond to markets, rules, and responsibility.

Raphael has a long-standing connection to Italy, shaped by his studies in Venice and family ties to Sardinia. He is deeply interested in European political economy and enjoys observing how small communities and large-scale societies organize cooperation, conflict, and trust - whether in Europe or during travels to China.

Contact: raphael.max [at] uni-hohenheim [dot] de