Advances in Behavioral Finance

Organized by
The Institute for International Economic Policy
The International Monetary Fund Institute

This will be an all day conference

Keynote speaker: Prof. George Akerlof (UC-Berkeley and IMF)

Thursday, May 26, 2011

Elliott School of International Affairs
City View Room 7th Floor
1957 E Street NW
Washington, DC 20052

8:15 a.m.-8:45 a.m. Breakfast

8:45 a.m.-9:00 a.m. Opening Remarks IIEP Director Stephen C. Smith and IMF Institute Deputy Director Eric Clifton

9:00 a.m.-10:30 a.m. Session 1
Prof. William Goetzmann (Yale University)“The First Stock Market Bubble (and Crash!)”
Prof. Robert Stambaugh (University of Pennsylvania): “The Short of It: Investor Sentiment and Anomalies”

10:30 a.m.-10:50 a.m. Coffee Break

10:50 a.m.-12:20 p.m. Session 2
Prof. Avanidhar Subrahmanyam (UCLA): “Funding Constraints and Market Efficiency”
Prof. Russ Wermers (University of Maryland)“Seasonal Asset Allocation: Evidence from Mutual Fund Flows”

12:20 p.m.-1:30 p.m. Lunch Break

1:30 p.m.-3:00 p.m. Session 3
Prof. Robert Bloomfield (Cornell University)“The Synthetic Economy Research Environment (SERE): A Platform for Experiments in Policy and Practice”
Prof. Bill Zame (UCLA): “Ambiguity and Asset Pricing: Learning from the Knowledge of Others” – Paper 1 and Paper 2

3:00 p.m.-3:20 p.m. Coffee Break

3:20 p.m.-4:50 p.m. Session 4
Prof. Valery Polkovnichenko (University of Texas at Dallas): “Probability Weighting Functions Implied in Options Prices”
Prof. Jeffrey Wurgler (NYU)“Dividends as Reference Points: A Behavioral Signaling Model”

4:50 p.m.-5:00 p.m. Coffee Break

5:00 p.m.-6:00 p.m. Keynote Address and Open Floor Discussion:
Prof. George Akerlof (UC-Berkeley and IMF): “Blind Faith: Misplaced Trust and Economic Crisis”


Organizing Commmittee:

Marco Cipriani, International Monetary Fund

Ana Fostel, George Washington University

Jorge Roldos, International Monetary Fund

Anna Scherbina, UC Davis and International Monetary Fund

Stephen C. Smith, George Washington University