PhD position in Behavioral & Experimental Finance (CREST – Ecole Polytechnique, 2026)

The Center for Research in Economics and Statistics (CREST, École Polytechnique, Institut Polytechnique de Paris) is inviting applications for a fully funded PhD position in behavioral and experimental finance, starting in 2026.

The doctoral candidate will join a research project funded by France Invest and PwC on the role of Environmental, Social and Governance (ESG) factors in private equity and M&A decision-making. The project aims to produce novel experimental evidence on how professional investors and advisors incorporate ESG information into valuation, deal selection, and transaction decisions across the investment process. It builds on state-of-the-art methods in experimental economics and extends existing research by studying sequential decision-making in real-world financial contexts.

The PhD will be supervised by Guillaume Hollard (thesis advisor) and co-supervised by Wael Bousselmi. The candidate will be based at CREST (Palaiseau), in a stimulating research environment, in close collaboration with France Invest and industry professionals. The position offers strong exposure to both academic research and practitioner networks in sustainable finance and private equity.

Most of the work is expected to be conducted at CREST, in Palaiseau. While remote work is feasible on selected days, the position requires a regular presence in the office.

Please send your applications to Guillaume Hollard (guillaume.hollard@polytechnique.edu), Wael Bousselmi (wael.bousselmi@polytechnique.edu), Simon Ruchaud (s.ruchaud@siparex.com) and Alejandra Champagne (Alejandra.Champagne@Rothschildandco.com), including: a cover letter, a resume (with the contact details of two or three academic references), a transcript of records for your Master’s studies, links to code and/or scientific publications (if any), and a PhD research project proposal (maximum 4 pages, plus up to 1 additional page of references) describing the intended research objectives, state of the art, methodology, empirical strategy, and 3-year work plan.