Department of Economics
IV Workshop LABSI
on
Behavioral Finance: Theory and Experimental Evidence
PROGRAM
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Thursday 6th April |
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18:00-20:00 |
Registration and Reception |
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20:00 |
Dinner |
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Friday 7th April |
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9:00-9:30 |
Welcome and Introduction |
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9:30-10:15 |
Invited lecture Gur Huberman (Columbia Business School)
“Talk
and Action: What Individual Investors Say and What they Do?”
(co-authored with Daniel Dorn) |
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10:15-11:15 |
Plenary session A Chair: Alain Chateauneuf (Université Paris 1, Panthéon-Sorbonne) |
Massimo Massa* and Andrei Simonov** (*INSEAD and Cepr, **Stockholm School of Economics)
“Shareholder Homogeneity and Firm Value. The Disciplining Role of
Non-Controlling Shareholders”
Oded Braverman,* Shmuel Kandel,** and Avi Wohl* (*Tel Aviv University, **Tel Aviv University, Wharton School, University of Pennsylvania, and CEPR)
“The
(Bad?) Timing of Mutual Fund Investors”
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11:15-11:30 |
Coffee break |
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11:30-13:00 |
Plenary session B Chair: Darren Duxbury (Leeds University Business School) |
Adelson Piñón* and Martin Weber** (*Universität Mannheim and Madrid Autonomous University, **Universität Mannheim and CEPR, London)
“The
Influence of Present and Prior Alternatives on Risk Aversion”
Gerlinde Fellner and Erik Theissen (University of Bonn)
“Short
sales constraints, divergence of opinion and asset values - Evidence from
the laboratory”
Selima Ben Mansour,* Elyès Jouini* and Clotilde Napp** (*Université Paris-Dauphine. **Université Paris Dauphine and Crest)
“Is there
a pessimistic bias in individual beliefs?
Evidence from survey data”
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13:00-14:30 |
Lunch |
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14:30-15:15 |
Invited lecture Alain Chateauneuf (Université Paris 1, Panthéon-Sorbonne)
“From
Sure to Strong Diversification” (co-authored with Ghizlane Lakhnati) |
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15:15-16:45 |
Parallel sessions C1 – C2 |
sessions C1
Chair: Angelo Melino (University of Toronto)
Richard John Fairchild (University of Bath)
“The
effect of Managerial Overconfidence, asymmetric information, and moral
hazard on capital structure decisions”
Barbara Alemanni * and Alessandra Franzosi** (*Università di Genova, **Borsa Italiana)
“Portfolio and psychology of high frequency online traders”
Marie Pfiffelmann (Laboratoire de Recherche en Gestion et en Economie, Strasbourg)
“Which
optimal design for LLDAs?”
sessions C2
Chair: Luigi Luini (Università di Siena)
Arvind Ashta,* Brice Corgnet,** Christophe Godlewski*** and Angela Sutan**** (*CEREN, Dijon, **University Carlos III, Madrid ***LARGE, Strasbourg, ****CEREN, Dijon, and BETA, Strasbourg)
“The power of words in financial markets: soft versus hard
information, a strategy method experiment”
Diego Salzman* and Emanuela Trifan** (*CORE, Université catholique de Louvain, **Darmstadt University of Technology)
“Emotions,
Bayesian Inference, and Financial Decision Making”
Philip S. Marey (Maastricht University)
“Interest
rate expectations: an experimental study”
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16:45-17:00 |
Coffee break |
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17:00-19:00 |
Parallel sessions D1 – D2 |
sessions D1
Chair: Marcello Basili (Università di Siena)
Simone Bianco * and Roberto Renò** (*University of North Texas, **Università di Siena)
“Dynamics
of intraday serial correlation in the Italian futures market”
Martin Ågren (Uppsala University)
“Loss
Aversion and Higher Moments”
Philipp E. Otto and Nick Chater (University College London)
“Note on
Ways of Saving: Mental Mechanisms as Tools for Self-Control?”
Grzegorz Mardyla (Yokohama National University)
“Trigger-happy confidence”
sessions D2
Chair: Elyès Jouini (Université Paris-Dauphine)
Alexandra Niessen* and Stefan Ruenzi** (*University of Cologne, **University of Cologne and CEFR, Cologne)
“Sex
Matters: Gender and Mutual Funds”
Simone Alfarano,* Iván Barreda** and Eva Camacho*** (*University of Kiel, **University of Castellón, ***University Autonoma of Madrid)
“On the
strategies of heterogeneous and imperfectly informed traders”
Greg B. Davies (University College London)
“Dynamic
Reference Points: Investors as Consumers of Uncertainty”
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20:00 |
Social Dinner |
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Saturday 8th April |
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9:00-9:45 |
Invited lecture Darren Duxbury (Leeds University Business School)
“Peak
Impact: Financial risk perception and the peak of the return
distribution” (co-authored with Barbara Summers) |
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9:45-11:15 |
Plenary session E Chair: Andreas Ortmann (Cerge-Ei, Prague and University of Trento) |
Brian Kluger* and Dan Friedman** (*University of Cincinnati, **University of California at Santa Cruz)
“Financial
Engineering and Rationality: Experimental Evidence Based on the Monty Hall
Problem”
Luigi Guiso * and Tullio Jappelli** (*University of Rome Tor Vergata, Ente Luigi Einaudi and CEPR, **University of Salerno, CSEF and CEPR)
“Information Acquisition, Overconfidence and Portfolio
Performance”
Ugo Rigoni and Massimo Warglien (Università Cà Foscari, Venezia)
“Analogical transfer of experience and the misuse of diversification. A real
option investment experiment”
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11.15-11:30 |
Coffee break |
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11:30-13.00 |
Plenary session F Chair: Gur Huberman (Columbia Business School) |
Thorsten Hens and Martin Vlcek (University of Zurich)
“Does
Prospect Theory Explain the Disposition Effect?”
Robin Pope,* Reinhard Selten,* Sebastian Kube** and Jürgen von Hagen* (*Bonn University, **University of Karlsruhe)
“Experimental Evidence on the Benefits of Eliminating Exchange Rate
Uncertainties and Why Expected Utility Theory causes Economists to Miss
Them”
Gunduz Caginalp * and Vladimira Ilieva** (*University of Pittsburgh, **The Institute of Behavioral Finance)
“The
Dynamics of Trader Motivations in Asset Bubbles”
| 13.00-14.00 |
Closing lunch |
*****