2013 CONFERENCE PROGRAM


Fourth Miami Behavioral Finance Conference
December 13-15, 2013
School of Business Administration, University of Miami
Coral Gables, Florida 33124, USA
http://bus.miami.edu/umbfc/
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Download Conference Program 2013 Information Sheet


Keynote Speaker:
David Hirshleifer, University of California at Irvine.2013 Conference Brochure
Program Committee Chair: Campbell Harvey, Duke University and University of Miami.
Organizer: Alok Kumar, University of Miami.

Friday, December 13, 2013

6:30 pm – 8:30 pm
Welcome Reception: Southwest Terrace, Biltmore Hotel.

Saturday, December 14, 2013

8:15 am – 8:45 am
Continental Breakfast: Student Activities Center, University of Miami.

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

Morning Session Chair: George Korniotis, University of Miami.

9:00 am – 9:40 am
Retail Short Selling and Stock Prices, Eric Kelley, University of Arizona, and Paul Tetlock, Columbia University.
Discussant: Ingrid Werner, Ohio State University.  

9:40 am – 10:20 am
Rumor Has It: Sensationalism in Financial Media, Kenneth Ahern, University of Southern California, and Denis Sosyura, University of Michigan at Ann Arbor.
Discussant: Tim Loughran, University of Notre Dame.

10:20 am – 10:50 am
Coffee Break.

10:50 am – 11:30 am
Playing Favorites: How Firms Prevent the Revelation of Bad News, Lauren Cohen, Harvard University, Dong Lou, London School of Economics, and Christopher Malloy, Harvard University.
Discussant: Bill Mayew, Duke University.

11:30 am – 12:10 pm
Information Aversion, Marianne Andries, Toulouse School of Economics, and Valentin Haddad, Princeton University.
Discussant: Jacob Sagi, University of North Carolina at Chapel Hill.

12:10 pm – 2:00 pm
Lunch, Student Activities Center, University of Miami.
 
Afternoon Session Chair: Jawad Addoum, University of Miami.

2:00 pm – 2:40 pm
Disappointment Events in Consumption Growth and Equilibrium Asset Prices, Stefanos Delikouras, University of Miami.
Discussant: Philipp Illeditsch, University of Pennsylvania.

2:40 pm – 3:20 pm
Corporate Scandals and Household Stock Market Participation, Mariassunta Giannetti, Stockholm School of Economics, and Tracy Wang, University of Minnesota.
Discussant: Gur Huberman, Columbia University.  

3:20 pm – 3:50 pm
Coffee Break.

3:50 pm – 4:30 pm
Looking for Someone to Blame: Delegation, Cognitive Dissonance and the Disposition Effect, Tom Chang, University of Southern California, David Solomon, University of Southern California, and Mark Westerfield, University of Washington.
Discussant: William Goetzmann, Yale University.

6:30 pm – 9:30 pm
Reception and Dinner: Poolside, Biltmore Hotel.

Sunday, December 15, 2013

8:30 am – 9:00 am
Continental Breakfast: Student Activities Center, University of Miami.

9:00 am – 10:20 am
Keynote Speech: Social Economics and Finance, David Hirshleifer, University of California at Irvine.

10:20 am – 10:50 am
Coffee Break

Session Chair: Stefanos Delikouras, University of Miami.

10:50 am – 11:20 am
Information Percolation, Momentum, and Reversal, Daniel Andrei, University of California at Los Angeles, and Julien Cujean, Swiss Finance Institute.  
Discussant: Fernando Zapatero, University of Southern California.

11:20 am – 12:10 am
First Impressions: “System 1” Thinking and the Cross-section of Stock Returns, Nick Barberis, Yale University, Abhiroop Mukherjee, Hong Kong University of Science and Technology, and Baolian Wang, Hong Kong University of Science and Technology.
Discussant: Stefan Nagel, University of Michigan at Ann Arbor.  

12:10 pm – 1:30 pm
Lunch, Student Activities Center, University of Miami.

1:30 pm – 2:10 pm
Governing Misvalued Firms, Dalida Kadyrzhanova, University of Maryland, and Matthew Rhodes-Kropf, Harvard University.
Discussant: Randall Morck, University of Alberta.  

2:10 pm – 2:50 pm
Neural Measures of Regret and Reinforcement Learning from Investment Experiences, Cary Frydman, University of Southern California, Colin Camerer, California Institute of Technology, and Antonio Rangel, California Institute of Technology.
Discussant: Milica Mormann, University of Miami.

2:50 pm – 3:20 pm
Coffee Break.

3:20 pm – 4:00 pm
Are Credit Ratings Subjective? The Role of Credit Analysts in Determining Ratings, Cesare Fracassi, University of Texas at Austin, Stefan Petry, University of Melbourne, and Geoffrey Tate, University of North Carolina at Chapel Hill.
Discussant: Sebastien Michenaud, Rice University.    

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