Catering Through Nominal Share Prices
---- Acknowledgments ----
For helpful comments we thank Yakov Amihud, Lauren Cohen, Ken French, Sam Hanson, Harrison Hong, Byoung-Hyoun Hwang, Eric Kelley, Owen Lamont, Ulrike Malmendier, Andrei Shleifer, Erik Stafford, Dick Thaler, and seminar participants at Arizona State, Copenhagen Business School, Darmouth, Helsinki School of Economics, Kellogg, the NBER Behavioral Finance conference, the Norwegian School of Management, NYU Stern, Penn State, Stockholm School of Economics, and the University of Arizona. We thank Jay Ritter for providing data. Baker and Greenwood gratefully acknowledge financial support from the Division of Research of the Harvard Business School. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.