Rüdiger von Nitzsch
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Prof. Dr. rer. pol.

Rüdiger von Nitzsch


Chair of Decision Theory and Financial Services


Building: Sammelbau

Room: 422

Templergraben 64

52056 Aachen

Consultation Hours

By appointment only (via Secretary's Office)


Rüdiger von Nitzsch (born in 1960) studied computer science and economics at RWTH Aachen University from 1980 to 1986. After gaining his doctoral degree from RWTH Aachen University and following various research stays in the USA, he received his postdoctoral "habilitation" degree from the University of Cologne. His habilitation thesis focused on finance theory. In 1996, he became Professor of General Business Administration at RWTH Aachen University. Since 2004, the professorship has been operating under the name of Decision Theory and Financial Services. Rüdiger von Nitzsch is a co-founder of aixigo AG, a firm which provides capital-market-related software solutions for financial institutions throughout Europe. From 2002 to 2015, he was chairperson of the board of directors of the Research Institute for Asset Management at RWTH Aachen University. He has also been a member of the supervisory board of Generali Investment Deutschland KAG and of the board of directors of investify S.A. In his current research, he is mainly concerned with financial issues and the support of decisions in various fields of application, ranging from important private, professional, and career decisions over to corporate and political decision-making.

Research Interests

  • Decision Analysis
  • Biases in Human Decision Making
  • Decision Support Systems
  • Behavioral Finance
  • Portfolio Management

Selected Publications

  • von Nitzsch, R. (2019): Entscheidungslehre - Wie Menschen entscheiden und wie sie entscheiden sollten, 10. überarbeitete Auflage, Wissenschaftsverlag Mainz.
  • Methling F.; von Nitzsch R. (2019): Thematic portfolio optimization: Challenging the core satellite approach. In: Financial Markets and Portfolio Management, 33. Jg., Nr. 2, S. 133-154. 10.1007/s11408-019-00329-0.
  • Methling, F.; von Nitzsch, R. (2019): Eine Kategorisierung der Beweggründe für Thematisches Investieren – über den Umgang mit thematischen Investments in der Portfolioberatung. In: Wirtschaftspsychologie, 21. Jg., 4-2019, S. 44 - 54.
  • Stephan, P.; von Nitzsch, R. (2013): Do individual investors' stock recommendations in online communities contain investment value?. In: Financial Markets and Portfolio Management, Vol. 27, Number 2, 149-186.
  • Cengiz, C.B.; Schüssler, M. E.; von Nitzsch, R. (2011): Der Erfolg von Insidertransaktionen - Timing oder Fundamentalbewertung?. In: Kredit und Kapital, 44/1, 75-103.
  • Cengiz, C.B.; von Nitzsch, R. (2011): Asset Management mit barwert- sowie zeitreihenorientierten Rendite- und Risikoprognosen. In: Kredit und Kapital, Vol. 44(3), 419-458.
  • Wegener, C.; von Nitzsch, R.; Cengiz, C.B. (2010): An advanced perspective on the predictability in hedge fund returns. In: Journal of Banking & Finance, 34(11), 2694-2708.
  • Rouette, C.; von Nitzsch, R. (2006): Wie viel Rendite kostet zyklisches Investieren? In: Die Bank, 08/2006, 18-22.
  • von Nitzsch, R.; Stotz, O. (2006): Risikobewusst Investieren - Der Schlüssel zum kontrollierten Portfoliomanagement. Finanzbuchverlag, München.
  • Goldberg, J.; von Nitzsch, R. (2004): Behavioral Finance, 4th edition, Finanzbuch-Verlag: München.