Article | Journal of Finance | February 2005

Do Behavioral Biases Affect Prices?

by Joshua D. Coval and Tyler Shumway

Keywords: Behavior; Prejudice and Bias; Price;


Coval, Joshua D., and Tyler Shumway. "Do Behavioral Biases Affect Prices?" Journal of Finance 60, no. 1 (February 2005): 1–34. (

Winner of Smith Breeden Prize. Best Paper For the best finance research paper published in the Journal of Finance presented by Smith Breeden Associates, Inc.​