Monash University

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Three Essays in Behavioural Asset Pricing

posted on 2022-09-14, 05:29 authored by BROOKE ASHLEY PEEL
Trust that assets are fairly priced is an important feature of well-functioning capital markets. However, there are examples where the prices of assets are difficult to reconcile with fundamental values. It is therefore important to understand the source of such mispricing. This thesis provides novel evidence regarding how stocks with particular characteristics can become temporarily mispriced as a result of biases in the decision-making of investors. This thesis reports evidence consistent with investor under-reaction and preferences for lottery-like stock returns being important in explaining prominent examples of mispricing.


Campus location


Principal supervisor

Philip Gray

Additional supervisor 1

Yulia Merkoulova

Year of Award


Department, School or Centre

Banking and Finance


Doctor of Philosophy

Degree Type



Faculty of Business and Economics

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    Faculty of Business and Economics Theses