NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

                  Asset Pricing Program Meeting

          John Cochrane and Monika Piazzesi, Organizers 

                          March 24, 2001

      The Sunset Village and Tom Bradley International Hall
                      UC, Los Angeles Campus
                      330 DeNeve Drive, L-16
                    Los Angeles, CA 90095-1492
          
                            PRELIMINARY PROGRAM
                                 
SATURDAY, MARCH 24:
          
8:00 AM   Continental Breakfast

8:30 AM   DARRELL DUFFIE, Stanford University and NBER
          NICOLAE GARLEANU and LASSE PEDERSON, Stanford University
          Valuation in Dynamic Bargaining Markets

                                   Discussant:    To Be Announced

9:30 AM   Break

                                                            10:00 AM  PIETRO VERONESI, University of Chicago and NBER   
          Belief-dependent Utilities, Aversion to State Uncertainty and Asset Prices 

                                                       Discussant:    To Be Announced     
          
11:00 AM  JUN LIU and FRANCIS LONGSTAFF,UC, Los Angeles
                    Losing Money on Arbitrages, Optimal Dynamic Portfolio Choice in 
          Markets with Arbitrage Opportunities

                                                                      Discussant:    MING HUANG, Stanford University    

12:00 N   Lunch

          1:00 PM   OWEN LAMONT and RICHARD THALER, University of Chicago and NBER
          Can the Market Add and Subtract?
                                                       Mispricing inTech Stock Carve-Outs       

          MARK MITCHELL and ERIK STAFFORD, Harvard University
          TODD PULVINO, Northwestern University
          Limited Arbitrage in Equity Markets

                                   Discussant:    BRADFORD CORNELL, UC, Los Angeles
                                                                         
                                                  
                                                       Over, Please!




Asset Pricing Meeting Program, Page 2:

SATURDAY, MARCH 24, 2001, Continued:

2:30 PM   Break

3:00 PM   JESSICA WACHTER, New York University
          Habit Formation and Returns on Stocks and Bonds

                                                       Discussant:    To Be Announced     

          4:00 PM   PETER BOSSAERTS, California Institute of Technology and CEPR
          CHARLES PLOTT, California Institute of Technology
          WILLIAM ZAME, UC, Los Angeles
          Structural Econometric Tests of General Equilibrium Theory on Data
          from Large-scale Experimental Financial Markets

                                                                                     Discussant:    WAYNE FERSON, University of Washington and NBER   
     
5:00 PM   Adjourn 

          Group Dinner
          Time and Location To Be Announced




2/16/01