NBER General Equilibrium Conference 2002

Spring 2002 NBER Conference on
General Equilibrium Theory

University of Minnesota

May 10 - May 12, 2002

Program Schedule

Sessions will be held in the Aragon Ballroom (Sections A,B)
of the Holiday Inn Metrodome

*Friday, May 10*
Session Chair: Martine Quinzii (University of California-Davis)		--- Photo by Arthur Durkee
2:00 - 2:45	*Uncertainty and Risk in Financial Markets* Chris Shannon (with Luca Rigotti) University of California, Berkeley
2:45 - 3:30	*Markets Favor Bayesian Estimators over Maximum Likelihood Estimators* Alvaro Sandroni University of Rochester
	*Coffee*
Session Chair: Aldo Rustichini (University of Minnesota)
4:00 - 4:45	*Simple Markov Equilibria for Overlapping Generations* Felix Kubler (with H. M. Polemarchakis) Stanford University
4:45 - 5:30	*Competitive Equilibria of Economies with Continuum Consumers and Aggregate Shocks* Jianjun Miao University of Rochester
5:30 - 6:15	*Market Clearing, Utility Functions, and Securities Prices* Roberto Raimondo University of California at Berkeley
6:30 - 8:00	Reception at the Holiday Inn - Metrodome sponsored by the Carlson School of Management Aragon Ballroom (Section E)
*Saturday, May 11*
Session Chair: John Kareken (University of Minnesota)
9:00 - 9:45	*Diversification as a Public Good: Community Effects in Portfolio Choice* Ron Kaniel (with P. M. DeMarzo and I. Kremer) University of Texas, Austin
9:45 - 10:30	*Prices and Portfolio Choices in Financial Markets: Theory and Evidence* William Zame (with P. Bossaerts and C. Plott) University of California-Los Angeles
	*Coffee*
Session Chair: Beth Allen (University of Minnesota)
11:00 - 11:45	*Aggregation of Heterogenous Beliefs and Asset Pricing in Complete Financial Markets* Jean-Michel Grandmont (with L. Calvet and I. Lemaire) CNRS-CREST
11:45 - 12:30	*Equilibrium Asset Pricing Under Heterogeneous Information* Peter Bossaerts (with B. Biais and C. Spatt) California Institute of Technology
	*Lunch Break*
Session Chair: Erzo Luttmer (University of Minnesota)
2:00 - 2:45	*Asset Price Fluctuations without Aggregate Shocks* Leo Kaas (with C. Azariadis) University of California, Los Angeles
2:45 - 3:30	*The Stock Market in the Overlapping Generations Model with Production* Michael Magill (with M. Quinzii) University of Southern California
3:30-4:15	*General Equilibrium in a Segmented Market Economy with Convex Transaction Cost: Existence, Efficiency, Commodity and Fiat Money* Ross Starr University of California, San Diego
5:00	Walk along Mississippi River, over historic Stone Arch Bridge, to Old St. Anthony Main. Weather Permitting.
7:00	*Dinner at Rock Star* in Minneapolis**
*Sunday, May 12*
Session Chair: Bob Anderson (University of California, Berkeley)
9:00 - 9:45	*An Axiomatic Model of Non-Bayesian Updating* Larry Epstein University of Rochester
9:45 - 10:30	*Equations on the Derivatives of an Initial Allocation-Competitive Equilibrium Mapping for an Exchange Economy* Steven Williams University of Illinois
	*Coffee*
Session Chair: Ket Richter (University of Minnesota)
11:00 - 11:45	*Equilibrium Comparisons and Welfare Theorems when Goods are Normal* John K.-H. Quah Oxford University
11:45 - 12:30	*Competitive Pricing in Socially Networked Economies; Some Preliminary Results* Nizar Allouch (with M. Wooders) University of Warwick