Asset pricing.

• Position: Program and Working Group Meetings

The NBER's Program on Asset Pricing met at the University of Chicago's Gleacher Center on April 23, 2010. Nicolae B. Garleanu and Martin Lettau, NBER and University of California, Berkeley, organized the meeting. These papers were discussed:

* Jules H. Van Binsbergen, Stanford University; Michael W. Brandt, Duke University and NBER; and Ralph S.J. Koijen, University of Chicago, "On Timing and Pricing of Cash Flows"

* Gregory R. Duffee, John Hopkins University, "Sharpe Ratios in Term Structure Models"

* Tarek A. Hassan, University of Chicago, and Thomas M. Mertens, New York University, "The Social Cost of Near-Rational Investment: Why We Should Worry About Volatile Stock...