In 2010 the Munich Best Paper Awards were established. The Theo Schöller Award for outstanding publications in the area of innovation management, and the Stephan Schrader Award for outstanding publications in entrepreneurship.
The Theo Schöller award, worth 5,000 Euro, is sponsored by the Theo und Friedl Schöller Stiftung. It is granted alongside the Stephan Schrader Award by the TIM Group, Prof. Dr. Joachim Henkel, and the Institut für Innovationsforschung, Technologiemanagement und Entrepreneurship at the Ludwig Maximilians University München, Prof. Dietmar Harhoff, Ph.D.
The Awards are granted for articles published in high-ranking international journals that made a significant contribution to academic research in their respective fields. At least one author is required to be working at, or to have graduated or received his or her Habilitation from, a German university. The jury consists of internationally renowned scholars: Ann-Kristin Achleitner (TUM), Carliss Y. Baldwin (Harvard Business School), Holger Ernst (WHU), Dominique Foray (Ecole Polytechnique Fédérale de Lausanne), Alfonso Gambardella (Università Commerciale Luigi Bocconi), Dietmar Harhoff (LMU), Joachim Henkel (TUM), Eric von Hippel (Massachusetts Institute of Technology), Tobias Kretschmer (LMU), Holger Patzelt (TUM), Arnold Picot (LMU) und Achim Walter (Universität Kiel).
The Theo Schöller Award 2010 was awarded to Prof. Dr. Nikolaus Franke, Dr. Peter Keinz, and Christoph J. Steger on 12 November 2010, for their article, “Testing the Value of Customization: When Do Customers Really Prefer Products Tailored to Their Preferences?,” appeared in Journal of Marketing, 2009. The award ceremony was part of TUM School of Management’s commencement (“Tag der Fakultät für Wirtschaftswissenschaften”).
The Theo Schöller Award 2011 was awarded to Prof. Dr. Nikolaus Franke, Prof. Dr. Schreier und Dr. Kaiser on 25 November 2011 as part of TUM School of Management’s commencement ceremony, for their article, “The ‘I Designed It Myself’ Effect in Mass Customization,” appeared in Management Science, 2010.