NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.



ASSET PRICING PROGRAM MEETING



John H. Cochrane and Lubos Pastor, Organizers



April 11, 2003



University of Chicago

Gleacher Center, Room 304

450 North Cityfront Plaza Drive

Chicago, IL 60611



PRELIMNARY PROGRAM

FRIDAY, APRIL 11, 2003:



8:30 AM Continental Breakfast



9:00 AM JESSICA WACHTER, New York University and NBER

Does the Failure of the Expectations Hypothesis Matter for Long-Term Investors

Discussant: KENNETH SINGLETON, Stanford University and NBER



10:00 AM Break



10:15 AM JUN PAN, MIT

ALLAN POTESHMAN, University of Illinois

The Information in Option Volume for Stock Prices

Discussant: MICHAEL BRANDT, University of Pennsylvania and NBER

11:15 AM ROBERT STAMBAUGH, University of Pennsylvania and NBER

Inference About Survivors



Discussant: CHRISTOPHER JONES, University of Southern California



12:15 PM Lunch- Room 350

1:15 PM YUHANG XING and MARIA VASSALOU, Columbia University

Default Risk in Equity Returns

Discussant: RAVI JAGANNATHAN, Northwestern University and NBER

2:15 PM Break



2:30 PM CHRISTIAN LUNDBLAD, Indiana University

RAVI BANSAL, Duke University

ROBERT DITTMAR, Indiana University

Interpreting Risk Premia Across Size, Value and Industry Portfolios

Discussant: LARS HANSEN, University of Chicago and NBER Over, Please!





Asset Pricing Meeting Program, Page 2:

FRIDAY, APRILL 11, 2003, Continued:



3:30 PM OWEN LAMONT, University of Chicago and NBER

Go Down Fighting: Short Sellers vs Firms



Discussant: WILLIAM GOETZMANN, Yale University and NBER



4:30 PM Adjourn



6:30 PM Joint Group Dinner

University of Chicago

Gleacher Center

Room 621

450 North Cityfront Plaza Drive

Chicago, IL 60611



3/5/03