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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Behavioral Economics Working Group

Behavioral Finance Meeting

Stefano DellaVigna and Ulrike Malmendier, Organizers

April 30, 2011

University of Chicago
Gleacher Center, Booth School of Business (Downtown Chicago)
Room 600
450 North Cityfront Plaza Drive
Chicago, IL

PROGRAM

Friday, April 29, 2011
6:00 pm	Joint Reception and Dinner University of Chicago Gleacher Center, Room 621 450 North Cityfront Plaza Drive, Chicago, IL
Saturday, April 30, 2011
8:00 am	Continental Breakfast
8:30 am	MISPRICING AND BUBBLES Robert Stambaugh, University of Pennsylvania and NBER Jianfeng Yu, University of Minnesota Yu Yuan, University of Iowa The Short of It: Investor Sentiment and Anomalies Discussant: Kent Daniel, Columbia University and NBER
9:20 am	Matti Keloharju, Aalto University Samuli Knüpfer, London Business School Juhani Linnainmaa, University of Chicago From Customers to Shareholders: The Effect of Product Market Choices on Investment Decisions Discussant: Dirk Jenter, Stanford University and NBER
10:10 am	Break
10:25 am	Aydogan Alti, University of Texas Paul Tetlock, Columbia University How Important Is Mispricing? Discussant: Toni Whited, University of Rochester
11:15 am	CONSUMER BIASES AND INDIVIDUAL FINANCIAL DECISIONS Sendhil Mullainathan, Harvard University and NBER Markus Noeth, Hamburg University Antoinette Schoar, MIT and NBER The Market for Financial Advice: An Audit Study Discussant: Matthew Gentzkow, University of Chicago and NBER
12:05 pm	Lunch- Room 621
1:00 pm	Annette Vissing-Jorgensen, Northwestern University and NBER Consumer Credit: Learning Your Customer's Default Risk from What (S)he Buys Discussant: James Choi, Yale University and NBER
1:50 pm	MANAGERIAL BIASES, MANAGERIAL RESPONSE TO BIASES AND CORPORATE FINANCIAL DECISIONS Philipp Krueger, Université de Genève Augustin Landier, Toulouse School of Economics David Thesmar, HEC The WACC Fallacy: The Real Effects of Using a Unique Discount Rate Discussant: Owen Lamont, Harvard University and NBER
2:40 pm	Break
2:50 pm	(JOINT WITH CORPORATE FINANCE)- Room 100 Casey Dougal, Joseph Engelberg, Christopher Parsons, and Edward Van Wesep, University of North Carolina Anchoring and the Cost of Capital Discussant: Victoria Ivashina, Harvard University and NBER
3:40 pm	Patrick Bolton, Columbia University and NBER Hui Chen, MIT Neng Wang, Columbia University Market Timing, Investment, and Risk Management Discussant: Alp Simsek, Harvard University and NBER
4:30 pm	Adjourn
4/26/11