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
- Rohit Rahi, Stanford University
- Phil Dybvig, Washington University
- Effective Futures Innovation with Small Transaction Fee
- Kazuhiko Ohashi, MIT
- Matthew Jackson, Northwestern University
- Do Fools Rush In?: Rewards to Buying and Selling the Newest Financial Products
- Peter Tufano, Harvard University
- Sreenivas Kamma, Indiana University
- 11:45 a.m.-12:30 p.m.
Lunch at J. Arthurís Grill
- 1:30-2:30 p.m.
- Integration of Markets through Derivative Securities
- Chester Spatt, Carnegie-Mellon University
- 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
- Mitchell Peterson, University of Chicago
- Raghuram Rajan, University of Chicago
- Patricia Wilson, Indiana University
- Capital Requirements, Monetary Policy, and Aggregate Lending
- Anjan Thakor, Indiana University
- 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?
- Steve Mann, University of Utah
- Leonard Schneck, Commodity Futures Trading Commission
- Anat Admati, Stanford University
- Minimum Price Variation, Discrete Bid/Ask Spreads and Quotation Transparency
- Lawrence Harris, University of Southern California
- Hans Stoll, Vanderbilt University
- Auctions of Divisible Goods: On the Rationale for the Treasury Experiment
- Kerry Black, Washington University
- Jamie Zender, University of Utah
- Craig Holden, Indiana University
Adjournment following lunch at the Kelley School of Business, room 736