NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



BEHAVIORAL FINANCE PROGRAM MEETING



Robert J. Shiller and Richard H. Thaler, Organizers



April 20, 2002



University of Chicago

Gleacher Center (Downtown Chicago)

Room 308

450 North Cityfront Plaza Drive

Chicago, IL 60611



PRELIMINARY PROGRAM





FRIDAY, APRIL 19:



6:30 PM Dinner (joint with Corporate Finance)

University of Chicago

Gleacher Center (Downtown Chicago)

Room 621

450 North Cityfront Plaza Drive

Chicago, IL 60611



SATURDAY, APRIL 20:

8:30 AM Continental Breakfast



9:00 AM CHRISTOPHER POLK and PAOLA SAPIENZA, Northwestern University

The Real Effects of Investor Sentiment

Discussant: JEREMY STEIN, Harvard University and NBER

10:00 AM NICHOLAS BARBERIS, University of Chicago and NBER

ANDREI SHLEIFER, Harvard University and NBER

JEFFREY WURGLER, New York University

Comovement



Discussant: ROBERT SHILLER, Yale University and NBER



11:00 AM Break



11:15 AM SENDHIL MULLAINATHAN, MIT and NBER

Thinking Through Categories

Discussant: JESUS SANTOS, University of Chicago and NBER



12:15 PM Lunch- Room 621

1:15 PM TIM LOUGHRAN, University of Notre Dame

JAY RITTER, University of Florida

Why Has IPO Underpricing Increased Over Time?



Discussant: IVO WELCH, Yale University and NBER

Over, Please!





Behavioral Finance Program, Page 2:



2:15 PM AMIYATOSH K. PURNANANDAM and BHASKARAN SWAMINATHAN,

Cornell University

Are IPOs Underpriced?

Discussant: ALON BRAV, Duke University



3:15 PM Break



3:30 PM MARK GRINBLATT, UC, Los Angeles and NBER

BING HAN, UC, Los Angeles

The Disposition Effect and Momentum



Discussant: HARRISON HONG, Stanford University



4:30 PM Adjourn



3/28/02