WORKING PAPERS - 2006
Click on any title listed
below to see the abstract. Click on the  icon beside the title in order to download the full paper in Adobe
Acrobat. (If you do not have the Adobe Reader you can get a free copy
from Adobe's World Wide Web Site at http://www.adobe.com/acrobat/readstep.html).
01-06
Demand-Based
Option Pricing
Nicolae Garleanu, Lasse
Heje Pedersen and Allen Poteshman
[abstract]
02-06
Macroeconomic
Derivatives: An Initial Analysis of Market-Based Macro Forecasts, Uncertainty
and Risk
Refer S. Gurkaynak and
Justin Wolfers
[abstract]
03-06
High-Water
Marks: High Risk Apetites? Convex Compensation, Long Horizons and Portfolio
Choice
Stavros
Panageas and Mark. M. Westerfield
[abstract]
04-06
Capital
Gains Taxes, Pricing Spreads and Arbitrage: Evidence from Cross-Listed
Firms in the U.S.
Jennifer Blouin, Luzi
Hail and Michelle Yetman
[abstract]
05-06
Diagnosing
Discrimination: Stock Returns and CEO Gender
Justin Wolfers
[abstract]
06-06
Competing Approaches to Forecasting
Elections: Economic Models, Opinion Polling and Prediction Markets
Andrew Leigh and Justin
Wolfers
[abstract]
07-06
Five Open Questions About Prediction
Markets
Justin Wolfers and Eric
Zitzewitz
[abstract]
08-06
Prediction Markets in Theory and Practice
Justin Wolfers
[abstract]
09-06
Asset Prices When Agents are Market-to-Market
Gary B.
Gorton, Ping He and Lixin Huang
[abstract]
10-06
Agency-Based Asset Pricing
Gary B.
Gorton and Ping He
[abstract]
11-06
Interpreting Prediction Market Prices
as Probabilities
Justin Wolfers and Eric
Zitzewitz
[abstract]
12-06
Does Firm Value Move Too Much to be
Justified by Subsequent Changes in Cash Flow?
Borja Larrain
and Motohiro Yogo
[abstract]
13-06
Equity Premia with Benchmark Levels
of Consumption: Closed-Form Results
Andrew
B. Abel
[abstract]
14-06
Valuation in Over-the-Counter Markets
Darrell
Duffie, Nicolae Garleanu, Lasse Heje Pedersen
[abstract]
15-06
The Welfare Cost of Bank Capital Requirements
Skander
Van den Heuvel
[abstract]
16-06
Back to the Beginning: Persistence and
the Cross-Section of Corporate Capital Structure
Michael
L. Lemmon, Michael R. Roberts, and Jaime F. Zender
[abstract]
17-06
Evidence on the Tradeoff Between Risk
and Return for IPO anmd SEO Firms
Alon Brav,
Roni Michaely, Michael Roberts and Rebecca Zarutskie
[abstract]
18-06
The Dividend Policies of Private Firms:
Insights into Smoothing, Agency Costs and Information Asymmetry
Roni Michaely
and Michael R. Roberts
[abstract]
19-06
Is Financial Contracting Costly? An
Empirical Analysis of Debt Covenants and Corporate Investment
Sudheer
Chava and Michael R. Roberts
[abstract]
20-06
Predatory Lending in a Rational World
Philip
Bond, David k. Musto and Bilge Yilmaz
[abstract]
21-06
Takeover Defenses and Managerial Incentives
under Alternative Legal Regimes
Richard
E. Kihlstrom and Michael L. Wachter
[abstract]
22-06
Directors' Ownership in the U. S. Mutual Fund Industry
Qi Chen, Itay Goldstein and Wei Jiang
[abstract]
23-06
Costly Communication, Shareholder Activism, and Limits to Arbitrage: Evidence from Closed-End Funds
Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang
[abstract]
24-06
The Benefits of Volume-Conditional Order-Crossing
Dean P. Foster, Simon Gervais and Krishna Ramaswamy
[abstract]
25-06
Stale or Sticky Stock Prices? Non-Trading, Predictability and Mutual Fund Returns
Marshall E. Blume and Donald B. Keim
[abstract]
26-06
Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement
Laura Veldkamp and Justin Wolfers
[abstract]
27-06
Technological Growth, Asset Pricing and Consumption Risk
Stavros Panageas and Jianfeng Yu
[abstract]
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