Workshop in Behavioral Finance
February 25-26, 1994

Robert J. Shiller and Richard Thaler, Organizers

David Ikenberry, Rice University; Josef Lakonishok, University of Illinois; and Theo Vermaelen, INSEAD
"Market Underreaction to Open Market Share Repurchases"
     Discussant: William Nelson, Federal Reserve System

William Nelson, Federal Reserve System
"Do Firms Buy Low and Sell High: Evidence of Excess Returns on Firms that Issue or Repurchase Equity?"
     Discussant: Josef Lakonishok, University of Illinois

William Goetzmann and Nadev Peles, Columbia University
"Cognitive Dissonance and Mutual Fund Investors"
     Discussant: Richard Herrnstein, Harvard University

Brad Barber, UC, Davis
"Noise Trader Risk, Odd-Lot Trading and Security Returns"
     Discussant: Werner De Bondt, University of Wisconsin, Madison

David Hirshleifer and Ivo Welch, UC, Los Angeles
"Institutional Memory, Inertia, and Impulsiveness"
     Discussant: Jeremy C. Stein, MIT and NBER

Johnette M. Sigwarth, University of Iowa
"Changes in Consumer Confidence and the January Small-Firm Effect"
     Discussant: Richard H. Thaler, Cornell University and NBER

Rafael Laporta, Harvard University
"Expectations and the Cross-Section of Stock Returns"
     Discussant: Kenneth R. French, Dartmouth College and NBER

Jeffrey Pontiff, University of Washington
"Costly Arbitrage and Closed-End Fund Discounts"
     Discussant: Andrei Shleifer, Harvard University and NBER

Sponsored by:
Russell Sage Foundation and National Bureau of Economic Research