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Second Miami Behavioral Finance Conference
December 15-17, 2011
School of Business Administration, University of Miami
Coral Gables, Florida 33124, USA

Conference Program | List of Participants | Information Sheet

Keynote Speaker:
Peter Bossaerts, California Institute of Technology
Program Committee Chair: Campbell Harvey, Duke University and University of Miami
Organizer: Alok Kumar, University of Miami

Thursday, December 15, 2011

6:00 pm – 8:00 pm
Welcome Reception: Southwest Terrace, Biltmore Hotel

Friday, December 16, 2011

8:15 am – 8:45 am
Continental Breakfast: Outside Storer Auditorium, School of Business Administration

8:45 am – 9:00 am
Welcome Remarks: Eugene Anderson, Dean, School of Business Administration 
Conference Program Overview: Campbell Harvey, Program Committee Chair

9:00 am – 9:40 am
Misvaluing Innovation, Lauren Cohen, Harvard University, Karl Diether, Dartmouth College, and Chris Malloy, Harvard University.
Discussant: David Solomon, University of Southern California.

9:40 am – 10:20 am
Speculative Betas, Harrison Hong, Princeton University and David Sraer, Princeton University.
Discussant: Andrea Frazzini, AQR Capital.

10:20 am – 10:50 am
Coffee Break

10:50 am – 11:30 am
Dividends as Reference Points: A Behavioral Signaling Approach, Malcolm Baker, Harvard University and Jeff Wurgler, New York University. 
Discussant: Steve Huddart, Pennsylvania State University.

11:30 am – 12:10 pm
Cleared for Takeoff? CEO Personal Risk-Taking and Corporate Policies, Matt Cain, University of Notre Dame and Stephen McKeon, University of Oregon.
Discussant: Henrik Cronqvist, Claremont McKenna College. 

12:10 pm – 2:00 pm
Lunch, Executive Dining Room, School of Business Administration 
Keynote Speech: The Human Brain Behind Financial Skill, Peter Bossaerts, California Institute of Technology. 

2:00 pm – 2:40 pm
Anxiety in the Face of Risk, Thomas Eisenbach, Federal Reserve Bank of New York and Martin Schmalz, Princeton University.
Discussant: Andrew Hertzberg, Columbia University.

2:40 pm – 3:20 pm
What is in a Name? Mutual Fund Flows When Managers Have Foreign Sounding Names, Alok Kumar, University of Miami, Alexandra Niessen-Ruenzi, University of Mannheim, and Oliver Spalt, Tilburg University.
Discussant: Susan Christoffersen, University of Toronto.

3:20 pm – 3:50 pm
Coffee Break

3:50 pm – 4:30 pm
Social Networks, Information Acquisition, and Asset Prices, Bing Han, University of Texas at Austin and Liyan Yang, University of Toronto.
Discussant: Simon Gervais, Duke University.

4:30 pm – 5:10 pm
Peer Effects in Economic Attitudes, Ken Ahern, University of Michigan, Ran Duchin, University of Michigan, and Tyler Shumway, University of Michigan.
Discussant: Jay Ritter, University of Florida.

6:30 pm – 9:30 pm
Reception and Dinner: La Cascade Restaurant, Biltmore Hotel

Saturday, December 17, 2011

8:30 am – 9:00 am
Continental Breakfast: Outside Storer Auditorium, School of Business Administration

9:00 am – 9:40 am
Small Cues Change Savings Choices, James Choi, Yale University, Emily Haisley, Barclays Bank, Jennifer Kurkoski, Google Inc., and Cade Massey, Yale University.
Discussant: Victor Stango, University of California at Davis.

9:40 am – 10:20 am
A Welfare Criterion for Models with Heterogeneous Beliefs, Markus Brunnermeier, Princeton University and Wei Xiong, Princeton University.
Discussant: Alp Simsek, Harvard University.

10:20 am – 10:50 am
Coffee Break

10:50 am – 11:30 am
Momentum Crashes, Kent Daniel, Columbia University and Toby Moskowitz, University of Chicago.
Discussant: Narasimhan Jegadeesh, Emory University.

11:30 am – 12:10 pm
Winning by Losing: Evidence on Overbidding in Mergers, Ulrike Malmendier, University of California at Berkeley, Enrico Moretti, University of California at Berkeley, and Florian Peters, University of Amsterdam. 
Discussant: Gennaro Bernile, University of Miami.

12:10 pm – 2:00 pm
Lunch, Outside Storer Auditorium, School of Business Administration

2:00 pm – 2:40 pm
Voice Pitch and Labor Market Success, Bill Mayew, Duke University, Chris Parsons, University of California at San Diego, and Mohan Venkatachalam, Duke University.
Discussant: Brad Barber, University of California at Davis.

2:40 pm – 3:20 pm
Experiments With The Lucas Asset Pricing Model, Elena Asparouhova, University of Utah, Peter Bossaerts, California Institute of Technology, Nilanjan Roy, California Institute of Technology, and William Zame, University of California at Los Angeles.
Discussant: Robert Bloomfield, Cornell University.

3:20 pm – 4:00 pm
Can Facebook Predict Stock Market Activity?, Yigitcan Karabulut, Goethe University Frankfurt.
Discussant: Byoung-Hyoun Hwang, Purdue University.

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