NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



ASSET PRICING PROGRAM MEETING



John Cochrane and Jonathan Lewellen , Organizers



November 8, 2002



Royal Sonesta Hotel

Parkview Room

5 Cambridge Parkway

Cambridge, MA



PROGRAM

THURSDAY, NOVEMBER 7:



6:30 PM Dinner

Legal Sea Foods Restaurant

(Kendall Square)

5 Cambridge Center

Cambridge, MA



FRIDAY, NOVEMBER 8:



8:30 AM Continental Breakfast



9:00 AM JOHN Y. CAMPBELL and TUOMO VUOLTEENAHO, Harvard University and NBER

Bad Beta, Good Beta



Discussant: JAY SHANKEN, Emory University and NBER



10:00 AM Break



10:15 AM JING-ZHI HUANG, Pennsylvania State University

MING HUANG, Stanford University

How much of the Corporate-Treasury Yield Spread is Due to Credit Risk?

Discussant: JUN PAN, MIT

11:15 AM PETER DEMARZO, Stanford University

RON KANIEL, University of Texas, Austin

LIAN KREMER, Stanford University

Diversification as a Public Good: Community Effects in Portfolio Choice



Discussant: STEPHEN SHORE, Harvard University



12:15 PM Lunch

Royal Sonesta Hotel

Room-University B &C Over, Please!



Asset Pricing Meeting Program, Page 2:

FRIDAY, NOVEMBER 8, 2002, Continued:



1:15 PM JONATHAN BERK, UC, Berkeley and NBER

RICHARD GREEN, Carnegie Mellon University

Mutual Fund Flows and Performance in Rational Markets



Discussant: HARRISON HONG, Stanford University



2:15 PM Break

2:30 PM BERNARD DUMAS, INSEAD and NBER

PASCAL MAENHOUT, INSEAD

A Central Planning Approach to Dynamic Incomplete- Market Equilibrium

Discussant: DEBORAH LUCAS, Northwestern University and NBER

3:30 PM ELI OFEK and MATTHEW RICHARDSON, New York University

ROBERT WHITELAW, New York University and NBER

Limited Arbitrage and Short Sales Restrictions: Evidence From the Options Market

Discussant: OWEN LAMONT, University of Chicago and NBER



4:30 PM Adjourn







11/7/02