Authority and power permeate political, social, and economic life – yet there is limited empirical knowledge about the motivational origins and consequences of authority. Based on an experimental approach, Ernst Fehr’s lecture will explore the psychological consequences of authority for important economic interactions. He will document the human desire to exercise authority, the motivation-enhancing effect of possessing authority and the detrimental motivational effects of a lack of authority. Ernst Fehr is director of the Department of Economics at the University of Zurich. He has conducted influential research on the role of social preferences in competition, cooperation and incentive provision.