Institute of Electronic Commerce and Digital Markets

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Crowd & Artificial Intelligence

Crowd intelligence (also known as "Wisdom of Crowds") is used in various ways, e.g. for the prediction of future events, the measurement of group preferences, the distribution of knowledge, but also for the collection and evaluation of ideas for the development of new products. Here, virtual stock exchanges proved to be an effective tool to combine requirements of scalability, interactivity, collaboration, and response speed. Corresponding to their manifold areas of application, virtual stock exchanges are also called prediction markets, preference markets, knowledge stock exchanges or idea markets. Related applications of crowd intelligence include crowdsourcing and crowdfunding.

Our research on artificial intelligence focuses on human reactions (as consumers, investors) toward algorithms. For example, we analyze the effect of anthropomorphized software agents (so called Robo-Advisors) on retail investors behavior.


  • Knowledge Stock Exchanges
  • Virtual Stock Markets & Prediction Markets
  • Idea Markets
  • Crowdsourcing
  • New Product Development
  • Open Innovation
  • Consumer reactions to algorithms
  • Anthropomorphized agents
  • Robo-Advisors

LMU Virtual Stock Market Platform

With the help of our self-developed software platform, we are also able to flexibly implement research projects in this area with company partners.



  • The Martin Agency
  • Carl Zeiss
  • Hollywood Stock Exchange (HSX)
  • BMW
  • T-Mobile
  • Qualcomm




Publications in the research are of 'Crowd & Artificial Intelligence'