Professor of Managerial Decision Sciences

• Doctor of Philosophy (Ph.D.) in Engineering. Massachusetts Institute of Technology
• Ingénieur Civil des Ponts et Chaussées. Ecole Nationale des Ponts et Chaussées, Paris
• Diplom-Ingenieur, Technische Universität München

Professor Franz Heukamp was appointed Dean of IESE Business School in September 2016. Previously, he held the positions of Associate Dean for MBA Programs and Secretary General of IESE.

Prof. Heukamp teaches Managerial Decision Sciences and has a Ph.D. from Massachusetts Institute of Technology. His teaching specialties are decision analysis and forecasting methods. Prof. Heukamp teaches in the MBA, Executive-MBA and other executive education programs of IESE including the Advanced Management Program directed at senior business leaders.

His main area of research is behavioral decision-making with a special interest in the area of Neuroeconomics. He is a member of The Institute for Operations Research and the Management Sciences and the Neuroeconomics Society.

Areas of interest

* Decision Making
* Time and uncertainty
* Country-specific differences in life satisfaction


Journal Articles (refereed)

ARRONDO, G., AZNÁREZ-SANADO, M., FERNÁNDEZ-SEARA, M., GOÑI, J., LOAYZA, F., SALAMON-KLOBUT, E., ... PASTOR, M. (2015). Dopaminergic Modulation of the Trade-off Between Probability and Time in Economic Decision-Making. European Neuropsychopharmacology, 25 (6), 817 - 827. doi:10.1016/j.euroneuro.2015.02.011.
BAUCELLS ALIBÉS, M., HEUKAMP, F. (2012). Probability and Time Trade-Off. Management Science, 58 (4), 831 - 842.
FERNÁNDEZ-SEARA, M., AZNÁREZ-SANADO, M., MENGUAL, E., IRIGOYEN, J., HEUKAMP, F., PASTOR, M. (2011). Effects on Resting Cerebral Blood Flow and Functional Connectivity Induced by Metoclopramide: A Perfusion MRI Study in Healthy Volunteers. British Journal of Pharmacology, 163 (8), 1639 - 1652. doi:10.1111/j.1476-5381.2010.01161.x.
GOÑI, J., AZNÁREZ-SANADO, M., ARRONDO, G., FERNÁNDEZ-SEARA, M., LOAYZA, F., HEUKAMP, F., ET AL. (2011). The Neural Substrate and Functional Integration of Uncertainty in Decision Making: An Information Theory Approach. Plos One, 6 (3), 1 - 10. doi:10.1371/journal.pone.0017408.
HEUKAMP, F., ARIÑO, M. A. (2011). Does Country Matter for Subjective Well-Being? Social Indicators Research, 100 (1), 155 - 170. doi:10.1007/s11205-010-9610-y.
BAUCELLS ALIBÉS, M., HEUKAMP, F. (2010). Common Ratio Using Delay. Theory and Decision, 68 (1-2), 149 - 158. doi:10.1007/s11238-008-9130-2.
BAUCELLS ALIBÉS, M., BOSCH-DOMÈNECH, A., HEUKAMP, F. (2010). Introduction to the Special Issue. Theory and Decision, 68 (1-2), 1 - 4. doi:10.1007/s11238-009-9188-5.
HEUKAMP, F., LIECHTENSTEIN, H., WAKELING, N. (2007). Do Business Angels Alter the Risk-Return Equation in Early Stage Investments?. Business Angels as Seen by Venture Capitalists in the German-Speaking Countries. Journal of Private Equity, 10 (3), 67 - 86. doi:10.3905/jpe.2007.686431.
BAUCELLS ALIBÉS, M., HEUKAMP, F. (2006). Stochastic Dominance and Cumulative Prospect Theory. Management Science, 52 (9), 1409 - 1423. doi:10.1287/mnsc.1060.0537.
HEUKAMP, F., ULM, F., GERMAINE, J. (2005). Does calcium leaching increase ductility of cementitious material? Evidence from direct tensile test. Journal of Materials in Civil Engineering, 17 (3), 307 - 312. doi:10.1061/(ASCE)0899-1561(2005)17:3(307).

Working Papers

HEUKAMP, F., LIECHTENSTEIN, H., WAKELING, N. (2006). Do business angels alter the risk-return equation in early stage investments? Business angels as seen by venture capitalists in the German speaking countries (DI-655-E).

Edited books

CANALS, J., HEUKAMP, F. (2019). The Future of Management in an AI World. Redefining Purpose and Strategy in the Fourth Industrial Revolution.

Book Chapters

HEUKAMP, F. (2019). AI and the Leadership Development of the Future. In Jordi Canals, Franz Heukamp (Eds.) (Eds.), The Future of Management in an AI World: Redefining Purpose and Strategy in the Fourth Industrial Revolution (pp. 137 - 148). Basingstoke [England]: Palgrave Macmillan.


BARCELÓ, S. P., CORONA, J., PUIG, M., ARGANDOÑA, A., CANALS, J., DÍAZ GIMÉNEZ, J., ... VIVES, X. (2020). El impulso del empleo y el relanzamiento de la empresa. algunas reflexiones para la acción.
HEUKAMP, F., LIECHTENSTEIN, H. (2011). The e-factor: How Entrepreneurship Drives Life Satisfaction for Affluent Families.


ARIÑO, M. A., HEUKAMP, F. (2018). LOPIN Productions. IESE, AD-359-E.
ARIÑO, M. A., HEUKAMP, F. (2018). Laree Verbindungen GmbH. IESE, AD-361.
ARIÑO, M. A., HEUKAMP, F. (2018). LOPIN Productions. IESE, AD-359.
ARIÑO, M. A., HEUKAMP, F. (2018). Laree Verbindungen GmbH. IESE, AD-361-E.
HEUKAMP, F., ARIÑO, M. A. (2016). ERBITUX: A Miracle Drug? Or Just a Lot of Headaches? IESE, AD-347-E.

Technical Notes

RATA, C., BAUCELLS ALIBÉS, M., HEUKAMP, F. (2012). Toma de decisiones en la incertidumbre: las preferencias de riesgo y el papel de la intuición. IESE, ADN-259.
LEWIS A.,, HEUKAMP, F. (2007). Introduction to Monte Carlo Simulation. IESE, ADN-273-E.
LEWIS A.,, HEUKAMP, F. (2006). The Value of Information. IESE, ADN-272-E.
PANINA O.,, HEUKAMP, F. (2006). Neuroeconomics. IESE, ADN-268-E.
LEWIS A.,, HEUKAMP, F. (2006). El valor de la información. IESE, ADN-272.