PhD position in Behavioural Finance Using Machine Learning and AI

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Project
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Investors often exhibit certain biases when considering their financial decisions. For example, confirmation bias, and other emotional tendencies impede their ability to invest rationally, leading to suboptimal returns. This project aims to uncover these biases from data collected from investors using machine learning techniques that can extract behavioural patterns over sequences of investment decisions, financial time series, and investor attributes. It presents an interesting multi-model problem which initially will lead to identifying, and in a next stage lead to alleviating such biases.
The research will be supported by a major Belgian investment firm which further increases the impact the research can make in practice.

Profile
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You should have a strong interest in the areas of information systems, machine learning, statistics, data science, and have a strong affinity with finance. You should be passionate about growing in a research setting and to become an independent researcher.
You should preferably hold a Master’s degree in Operations Research, Business Engineering, Statistics, Applied Mathematics, Computer Science, or equivalent, preferably with a major in finance. An appropriate command of written and spoken English is a requirement, and experience with at least one programming language is an asset. Students that are currently in the final year of their Master’s are especially encouraged to apply.
Excellent (honors-level or better) results in prior studies are required. Candidates must satisfy the prerequisites for admission to the PhD programme of our faculty. There is a strict requirement that you can demonstracte academic excellence (at least honours level) for at least two years. For international candidates in particular, a GRE or GMAT result above the 75th percentile on the quantitative part and an English TOEFL (minimum score 575 paper-based, 233 computer-based, 90 internet-based), or IELTS (minimum score 7) test, both not older than 5 years are required to enter the program. In addition, we require:

Offer
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We offer employment as a full-time doctoral scholarship for at least 3 years at KU Leuven. You will work under the supervision of Prof. Johannes De Smedt, Prof. Kristien Smedts, and Prof. Jochen De Weerdt.
You will be located at the Research Centre for Information Systems Engineering (LIRIS) at KU Leuven (Brussels & Leuven, Belgium). You will find a dynamic and pleasant working environment in this research group that is actively involved in scientific research at the highest international level in different domains such as data science, process mining, conceptual modelling, and business process management. Research projects in these domains are focusing both on fundamental research as on applied research. For more information, check our group’s home page. The company involvement will also require you to visit them on a regular basis in Brussels.

Interested?
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For more information please contact Prof. dr. Johannes De Smedt, tel.: +32 16 37 20 45, mail: [email protected] or Prof. dr. Kristien Smedts, tel.: +32 16 32 67 39, mail: [email protected].
Ideally, you can start September 2025.
 
Applications can only be received via KU Leuven’s online application tool, applications via any other way will not be considered. When applying, you must upload your transcripts, two recommendation letters, motivation letter and CV in pdf format. In the motivation letter, you should specifically indicate why you are the right person for the vacant position. You can also upload a publication list, photo, and/or other attachments.
KU Leuven strives for an inclusive, respectful and socially safe environment. We embrace diversity among individuals and groups as an asset. Open dialogue and differences in perspective are essential for an ambitious research and educational environment. In our commitment to equal opportunity, we recognize the consequences of historical inequalities. We do not accept any form of discrimination based on, but not limited to, gender identity and expression, sexual orientation, age, ethnic or national background, skin colour, religious and philosophical diversity, neurodivergence, employment disability, health, or socioeconomic status. For questions about accessibility or support offered, we are happy to assist you at this email address.