A study based on photoluminescence and absorption measurements as a function of temperature and pressure for PbSe nanocrystals with sizes in the range 3-13 nm reveals the influence of size quantum confinement on the observed variation. In the case of the temperature variation, the effective bandgap changes from showing a positive rate of change to showing a negative one (for a quantum dot 3 nm in diameter), which can be accounted for by incorporating a linear variation of the carrier effective masses into a simple calculation of the exciton ground state in the quantum dot. In the case of the pressure variation, we observe a clear inverse correlation between the absolute value of the pressure coefficient and the nanocrystal size, a signature of quantum size confinement, with values changing from -76 to -41 meV GPa⁻¹ for quantum dots ranging from 13 to 3 nm in diameter, respectively, clearly smaller in absolute value than the rate for bulk PbSe (-84 meV GPa⁻¹). We used again the hypothesis of a linear variation of the carrier effective masses with pressure in order to fit this experimental variation quantitatively.