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- Tasks: Conduct groundbreaking research on investment behaviour and develop advanced econometric models.
- Company: Lancaster University in partnership with Oxford Risk, a leader in behavioural finance.
- Benefits: Fully funded PhD, tax-free stipend, training opportunities, and conference participation.
- Other info: Join a world-ranked management school with excellent research facilities and mentorship.
- Why this job: Dive into an interdisciplinary project that shapes the future of household finance in the UK.
- Qualifications: Master’s degree in Economics or related field; eagerness to learn advanced technical skills.
The predicted salary is between 20780 - 20780 ÂŁ per year.
Lancaster University and Oxford Risk (London) invite applications for one fully funded ESRC CASE PhD studentship, commencing 1 October 2026. This four-year, full-time award is delivered in partnership with Oxford Risk, a leading behavioural finance fintech specialising in financial personality assessment and behavioural engagement.
The successful candidate will undertake rigorous PhD training in Economics, focusing on Behavioural and Experimental Economics and advanced econometric modelling.
Candidate ProfileApplicants should hold a Master’s degree in Economics or a related field (e.g., Finance, Psychology, Maths or Data Science), with a foundational understanding of behavioural/experimental methods and/or econometrics. While we value these core skills, a central part of this project involves advanced technical training. We are therefore looking for a candidate who is eager to develop these competencies further under our mentorship.
About the ProjectThis interdisciplinary project examines a central puzzle in UK household finance: persistent aversion to equity investment alongside enthusiasm for speculative assets. The research will explore:
- What types of behavioural investment profiles exist in the UK?
- Which economic preferences and personality traits characterise these profiles?
- What heuristics, biases and decision errors underpin observed investment behaviour?
- How do popular economic narratives (e.g., “the stock market is a casino”, “cryptocurrency is the new gold”) shape financial decision‑making?
The project combines narrative economics with advanced latent‑variable and econometric modelling. It will distinguish between stable personality‑based traits and context‑dependent behavioural preferences, examining how enduring dispositions interact with situational narratives to influence real‑world financial outcomes. The CASE partnership provides a distinctive applied dimension. The student will engage with Oxford Risk’s behavioural‑finance expertise and gain exposure to real‑world investor profiling and decision‑making research.
Supervisory TeamPrimary Supervisor: Dr Konstantinos Georgalos
Secondary Supervisor: Dr Emre Tarim
Partner Institution Supervisor: Dr Greg Davies (Head of Behavioural Finance, Oxford Risk)
Lancaster’s Economics Department offers a research‑intensive environment within a world‑ranked management school (REF 2021: 90% world‑leading or internationally excellent). The student will benefit from:
- Advanced quantitative and econometric training
- Access to the Lancaster Experimental Economics Lab (LExEL)
- ESRC NWSSDTP cohort training and interdisciplinary development
- Fully funded participation in national and international conferences
- Opportunities for teaching training and experience
Funding includes tuition fees, a tax‑free stipend at the UKRI rate (currently £20,780 per annum, subject to confirmation for 2026/27), and a research training support grant.
How to ApplyIf you are interested in applying, please contact Dr Konstantinos Georgalos (k.georgalos@lancaster.ac.uk) with:
- A short research statement outlining your research interests and ideas relevant to the project (max. 1,000 words).
- A CV.
Applications will be reviewed on a rolling basis, and early applications are strongly encouraged. Applications must also be submitted via the Lancaster Economics PhD portal. Please include:
- A Personal Statement clearly indicating you are applying for this ESRC CASE studentship
- A Research Statement (in lieu of a research proposal) outlining your research interests and ideas relevant to the project (max 1000 words)
- CV
- Academic transcripts (Bachelor’s and Master’s)
- Two academic references
- Evidence of English language proficiency (if required)
ESRC CASE PhD Studentship - Investment Aversion in the UK: An Interdisciplinary Exploration of [...] in Lancaster employer: Lancaster University
Contact Detail:
Lancaster University Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land ESRC CASE PhD Studentship - Investment Aversion in the UK: An Interdisciplinary Exploration of [...] in Lancaster
✨Tip Number 1
Network like a pro! Reach out to current or former students in the programme, and connect with faculty members. A friendly chat can give you insider info and might just put your name on their radar.
✨Tip Number 2
Prepare for interviews by diving deep into the project details. Understand the key themes of investment aversion and behavioural finance. Show us you’re not just interested, but passionate about the research!
✨Tip Number 3
Don’t underestimate the power of a strong personal statement. Make it personal! Share your journey, why this project excites you, and how your background fits perfectly with what we’re looking for.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, early applications are encouraged, so don’t wait until the last minute to show us what you’ve got!
We think you need these skills to ace ESRC CASE PhD Studentship - Investment Aversion in the UK: An Interdisciplinary Exploration of [...] in Lancaster
Some tips for your application 🫡
Craft a Compelling Personal Statement: Your personal statement is your chance to shine! Make sure to clearly express why you're interested in the ESRC CASE studentship and how your background aligns with the project. We want to see your passion and motivation, so don’t hold back!
Tailor Your Research Statement: When writing your research statement, focus on how your ideas connect to the project's themes. Highlight your understanding of behavioural finance and any relevant experiences. Remember, this is your opportunity to showcase your unique perspective, so make it count!
Polish Your CV: Your CV should reflect not just your academic achievements but also any relevant skills or experiences. We’re looking for candidates who are eager to learn and grow, so include any projects or roles that demonstrate your commitment to developing your competencies.
Submit Early and Follow Up: We encourage you to apply as soon as possible since applications are reviewed on a rolling basis. After submitting through the Lancaster Economics PhD portal, feel free to follow up with Dr Georgalos to express your enthusiasm and check on your application status!
How to prepare for a job interview at Lancaster University
✨Know Your Stuff
Make sure you have a solid grasp of behavioural and experimental economics, as well as econometric modelling. Brush up on key concepts and be ready to discuss how they relate to the project. This will show your enthusiasm and readiness to dive into the research.
✨Show Your Passion for Interdisciplinary Work
This project is all about blending different fields like finance, psychology, and data science. Be prepared to talk about how your background fits into this interdisciplinary approach and share any relevant experiences that highlight your adaptability and eagerness to learn.
✨Prepare Thoughtful Questions
Interviews are a two-way street! Think of insightful questions about the project, the supervisory team, or the partnership with Oxford Risk. This not only shows your interest but also helps you gauge if this is the right fit for you.
✨Highlight Your Technical Skills
Since the role involves advanced technical training, be ready to discuss any relevant skills you have in quantitative analysis or programming. Mention specific tools or software you’re familiar with, and express your willingness to develop these skills further under mentorship.