Behavioral Economics.

• Position: Program and Working Group Meetings - National Bureau of Economic Research - Victor Stango from University of California, Davis - Nicolae Garleanu from University of California, Berkeley - Mark Grinblatt from University of California, Los Angeles - Brief article - Conference notes

The NBER's Working Group on Behavioral Economics met in Cambridge on November 21, 2009. Andrea Frazzini, AQR Capital Management, LLC, and Kent Daniel, Northwestern University, organized the meeting. These papers were discussed:

* Victor Stango, University of California, Davis, and Jonathan Zinman, Dartmouth College, "Limited and Varying Consumer Attention: Evidence from Shocks to the Salience of Penalty Fees"

* Nicolae Garleanu, University of California, Berkeley and NBER, and Lasse Pedersen, New York University and NBER, "Margin-Based Asset Pricing and the Law of One Price"

* Mark Grinblatt, University of California, Los Angeles; Matti Keloharju, Helsinki School of Economics; and Juhani Linnainmaa, University of Chicago, "Do Smart Investors Outperform Dumb Investors ?"

* Robin Greenwood...