NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



ASSET PRICING PROGRAM MEETING



John H. Cochrane and Tobias Moskowitz, Organizers



November 14, 2003



Royal Sonesta Hotel

5 Cambridge Parkway

Cambrige, MA 02142



PRELIMINARY PROGRAM



THURSDAY, NOVEMBER 13, 2003



7:00 PM Davio's Restaurant

(Royal Sonesta Hotel)

5 Cambridge Parkway

Cambridge, MA 02142

FRIDAY, NOVEMBER 14, 2003



8:00 AM Continental Breakfast



8:30 AM LUBOS PASTOR and PIETRO VERONESI, University of Chicago and NBER

Stock Prices and IPO Waves



Discussant: DEBORAH LUCAS, Northwestern University and NBER



9:30 AM Break



9:45 AM ANNA PAVLOVA, MIT

ROBERTO RIGOBON, MIT and NBER

Asset Prices and Exchange Rates



Discussant: PEDRO SANTA-CLARA, UC, Los Angeles



10:45 AM STANLEY ZIN, Carnegie Mellon University and NBER

BRYAN ROUTLEDGE, Carnegie Mellon University

Generalized Disappointment Aversion and Asset Prices



Discussant: THOMAS KNOX, University of Chicago



11:45 AM Lunch



12:45 PM ROBERT HODRICK and ANDREW ANG, Columbia University and NBER

YUHANG XING, Rice University

XIAOYAN ZHANG, Cornell University

The Cross-Section of Volatility and Expected Returns



Discussant: JUN PAN, MIT



Over, Please!

ASSET PRICING MEETING PROGRAM, PAGE 2:



1:45 PM Break



2:00 PM MICHAEL BRANDT, Duke University

ALESSANDRO BERBER, HEC

The Effect of Macroeconomic News on Beliefs and Preferences:

Evidence from the Options Market



Discussant: ANDREW LO, MIT and NBER



3:00 PM WEI XIONG, Princeton University

HARRISON HONG, Stanford University

JOE SCHEINKMAN,

Asset Float and Speculative Bubbles

Discussant: LASSE PEDERSEN, New York University

4:00 PM Adjourn



10/8/03