The European Research Council (ERC) has awarded the ERC Advanced Grant to the Cologne economic researcher Prof. Dr. Axel Ockenfels, an important prize in the European research landscape. The funded project is entitled “Economic Engineering of Cooperation in Modern Markets”. Funded researchers are exceptional leaders in terms of originality and significance of their research contributions. The innovative approach of projects are considerered to be risky but seen as new ways in their respective field of research. The ERC Grants are made for established scientists who have a track record of significant research achievements in the last 10 years.