NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



BEHAVIORAL FINANCE WORKING GROUP

Robert Shiller and Richard Thaler, Organizers



December 1, 2007

Royal Sonesta Hotel

40 Edwin H. Land Boulevard

Cambridge, Massachusetts



PROGRAM



FRIDAY, NOVEMBER 30:



6:30 PM Dinner

Restaurant Dante

Royal Sonesta Hotel

40 Edwin H. Land Boulevard

Cambridge, MA 02142



SATURDAY, DECEMBER 1:



8:30 AM Continental Breakfast



9:00 AM PHILIPPE BACHETTA and ELMAR MERTENS, University of Lausanne

ERIC VAN WINCOOP, University of Virginia and NBER

Predictability in Financial Markets:

What Do Survey Expectations Tell Us?

Discussant: KENNETH FROOT, Harvard University and NBER



10:00 AM HARRISON HONG, Princeton University

MARCIN KACPERCZYK, University of Munich

Competition and Bias



Discussant: KENT WOMACK, Dartmouth College



11:00 AM Break



11:15 AM MALCOLM BAKER, Harvard University and NBER

ROBIN GREENWOOD, Harvard University

JEFFREY WURGLER, New York University and NBER

Catering through Nominal Shares Prices

Discussant: RICHARD THALER, University of Chicago and NBER



12:15 PM Lunch



1:15 PM DANIEL DORN, Drexel University

GUR HUBERMAN, Columbia University

Preferred Risk Habitat of Individual Investors

Discussant: NICHOLAS BARBERIS, Yale University and NBER



BEHAVIORAL FINANCE PROGRAM, PAGE 2:



2:15 PM PAUL TETLOCK, Yale University

All the News that's Fit to Reprint: Do Investors React to Stale Information?

Discussant: TERRANCE ODEAN, UC, Berkeley



3:15 PM Break



3:30 PM GEORGE KORNIOTIS, Federal Reserve Board

ALOK KUMAR, University of Texas

Superior Information or a Psychological Bias?

A Unified Framework with Cognitive Abilities Resolve Three Puzzles



BRIGITTE MADRIAN, Harvard University and NBER



4:30 PM Adjourn



11/27/07