Asset Pricing Program Meeting
Organized by Hui Chen and Samuel M. Hartzmark
November 7, 2025
Stanford University Graduate School of Business, Knight Management Center, 655 Knight Way, Oberndorf Center, Stanford, CA
Format: 20 minutes for authors, 20 minutes for discussants, 20 minutes for Q&A
Thursday, November 6
6:00 pm
Reception and Group Dinner - Vidalakis Dining Room, Schwab Residential Center at Stanford
Friday, November 7
8:00 am
Continental Breakfast
8:30 am

Inefficiencies in the Security Lending Market (slides)

Kent D. Daniel, Columbia University and NBER
Alexander Klos, Christian-Albrechts-Universität zu Kiel
Simon Rottke, University of Amsterdam

Discussant:
Matthew Ringgenberg, University of Utah
9:30 am
Break
9:45 am

Haven't We Seen This Before? Return Predictions from 200 Years of News

AJ Yuan Chen, University of British Columbia
Gerard Hoberg, University of Southern California
Miao Ben Zhang, University of Southern California

Discussant:
Svetlana Bryzgalova, London Business School
10:45 am
Break
11:00 am

Learning and the Emergence of Nonlinearity in Financial Markets

Ian Dew-Becker, Federal Reserve Bank of Chicago
Stefano Giglio, Yale University and NBER
Pooya Molavi, Northwestern University

Discussant:
Lars A. Lochstoer, University of California, Los Angeles and NBER
12:00 pm
Lunch - Vidalakis Dining Room
1:15 pm

Selective Inattention to Interest Rates

Tim de Silva, Stanford University
Pierfrancesco Mei, Harvard University

Discussant:
Tim Landvoigt, University of Pennsylvania and NBER
2:15 pm
Break
2:30 pm

Endogenous Elasticities: Price Multipliers Are Smaller for Larger Demand Shocks

Aditya Chaudhry, The Ohio State University
Jiacui Li, University of Utah

Discussant:
Valentin Haddad, University of California, Los Angeles and NBER
3:30 pm
Break
3:45 pm

Geoeconomic Pressure

Christopher Clayton, Yale University and NBER
Antonio Coppola, Stanford University
Matteo Maggiori, Stanford University and NBER
Jesse Schreger, Columbia University and NBER

Discussant:
Asaf Manela, Washington University in St. Louis
4:45 pm
Adjourn