Assistant Professor of Finance — The Wharton School, University of Pennsylvania
My work focuses on central themes in behavioral and corporate finance—such as nonstandard preferences, belief formation, and managerial decision-making under uncertainty. To study these topics, I often employ quasi-experimental designs—for example, to identify sunk cost effects in managerial decision-making. I also frequently use modern machine learning methods, including extracting individual differences and personality traits from facial images to examine labor and credit market outcomes; applying large language models to uncover analyst mental models and belief formation processes; and estimating CEO aging from images to shed light on the private costs of leadership and nonstandard preferences, such as layoff aversion.

Email
mguenzel@wharton.upenn.edu

What’s New:

Upcoming NBER talks:

• NBER Corporate Finance Spring Meeting 2025
  (Paper: AI Personality Extraction from Faces: Labor Market Implications)

• NBER Asset Pricing Spring Meeting 2025
  (Paper: Mental Models and Financial Forecasts)

• NBER Long-Term Asset Management Spring Meeting 2025
  (Paper: What Drives Very Long-Run Cash Flow Expectations?)

• NBER Organizational Economics Spring Meeting 2025
  (Paper: Prosociality and Layoffs)

Other upcoming/recent talks and conference invitations:

• Chicago Fed, Cornell, Vanderbilt, ITAM Finance Conference 2025, UBC Winter Finance Conference 2025, Young Scholars Finance Consortium 2025, Labor and Finance Conference 2025, Adam Smith Workshop 2025, Kentucky Finance Conference 2025, FSU Truist Beach Conference 2025, 1st Annual Isenberg School of Management Finance Conference, SFS Cavalcade 2025, Wharton AI Future of Work Conference, 7th Future of Financial Information Conference 2025, WFA 2025, Boulder Summer Conference on Consumer Financial Decision Making 2025