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Indiana University Bloomington

Department of Finance

Biennial Symposium

Our biennial symposium attracts internationally known scholars to Kelley to share their research.

Biennial Symposium

The Design of Securities and Markets

August 13-15, 1993
Friday, August 13
5:30 p.m.

Cocktails at the Irish Lion

7:00 p.m.

Dinner at the Irish Lion

Saturday, August 14
Session I, Innovation and Integration in Financial Markets: 8:30-11:45 a.m.
Optimal Incomplete Markets with Incomplete Information
Author:
Rohit Rahi, Stanford University
Discussant:
Phil Dybvig, Washington University
Effective Futures Innovation with Small Transaction Fee
Author:
Kazuhiko Ohashi, MIT
Discussant:
Matthew Jackson, Northwestern University
Do Fools Rush In?: Rewards to Buying and Selling the Newest Financial Products
Author:
Peter Tufano, Harvard University
Discussant:
Sreenivas Kamma, Indiana University
11:45 a.m.-12:30 p.m.

Lunch at J. Arthur’s Grill

1:30-2:30 p.m.
Integration of Markets through Derivative Securities
Author:
Chester Spatt, Carnegie-Mellon University
Discussant:
Franklin Allen, Wharton
Session II, The Structure of the Banking System: 2:45-4:45 p.m.
Effect of Credit Market Competition on Firm-Creditor Relationships
Authors:
Mitchell Peterson, University of Chicago
Raghuram Rajan, University of Chicago
Discussant:
Patricia Wilson, Indiana University
Capital Requirements, Monetary Policy, and Aggregate Lending
Author:
Anjan Thakor, Indiana University
Discussant:
Mitchell Berlin, Indiana University
5:30-6:30 p.m.

Cocktails, Kelley School of Business, room 732

6:30 p.m.

Dinner, Kelley School of Business, room 736

Sunday, August 15
Session III, Trading Behavior and the Design of Securities Markets
Concentrated Trading in the Foreign Exchange Futures Markets: Discretionary Liquidity Trading or Market Closure?
Authors:
Steve Mann, University of Utah
Leonard Schneck, Commodity Futures Trading Commission
Discussant:
Anat Admati, Stanford University
Minimum Price Variation, Discrete Bid/Ask Spreads and Quotation Transparency
Author:
Lawrence Harris, University of Southern California
Discussant:
Hans Stoll, Vanderbilt University
Auctions of Divisible Goods: On the Rationale for the Treasury Experiment
Authors:
Kerry Black, Washington University
Jamie Zender, University of Utah
Discussant:
Craig Holden, Indiana University

Adjournment following lunch at the Kelley School of Business, room 736