The Industrial Economics cluster consists of a research department, Firms and Markets, and two research groups, Behavioral Economics and Entrepreneurship. The Firms and Markets Department focuses on evaluating economic policy interventions in the areas of regulation, competition policy, and industrial and innovation policy. The Behavioral Economics Research Group studies human behavior in economically relevant areas. The Entrepreneurship Research Group analyzes the development of small and medium-sized enterprises. The combination of these focal points enables the cluster to comprehensively investigate social and economic policy processes.