Marius Guenzel

Assistant Professor of Finance · The Wharton School
The Wharton School, University of Pennsylvania
Marius Guenzel

I am an Assistant Professor of Finance at Wharton, working in behavioral and corporate finance.

My work combines quasi-experimental research designs with ML methods, including computer vision on facial images and LLMs on text.

Research Themes

How do managers decide, and what does it cost?
Sunk costs and escalating commitment, and what the job itself costs and why.
How does personality shape economic outcomes?
Measuring traits, and what they predict about career outcomes and loan default.
Where do economic beliefs come from?
Mental models, valuation models, and long-run growth expectations.

What’s New

Jul 2026
Excess Commitment in R&D is published in the Review of Financial Studies.
Apr 2026
New paper: Facing Default? Draft coming soon.
Apr 2026
We presented AI Personality Extraction from Faces: Labor Market Implications at the NBER Labor Studies Spring Meeting.