Università degli Studi di Napoli "Federico II" Università degli Studi di Salerno Università Bocconi - Milano

C6 - 7th CSEF-IGIER Symposium on Economics and Institutions
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          Financial support provided by


Ministero dell’Istruzione, dell’Università e della Ricerca

                                    PRIN 2009




Monday, 25 June 2012

Afternoon Session: Applied Micro

13.00 – 14.00  Registration

14.00 – 14.45  Daniele Terlizzese (EIEF and Banca d’Italia), Equilibrium Trust (joint with L. Anderlini)

14.45 – 15.30  Ciro Avitabile (CSEF), Citizenship, Fertility and Parental Investment (joint with I. Clots Figueras and P. Masella)

15.30 – 16.00  Coffee break

16.00 – 16.45  Giovanni Immordino (Università di Salerno and CSEF), Parents, Television and Cultural Change  (joint with E. Hauk)

16.45 – 17.30  Eleonora Patacchini (Università di Roma “La Sapienza”), Peer Effects in Education, Sport, and Screen Activities: Local Aggregate or Local Average? (joint with X. Liu and Y. Zenou)


Tuesday, 26 June 2012

Morning Session: Finance I

09.30 – 10.15  Luigi Zingales (University of Chicago), The Value of Integrity

10.15 – 11.00  Andrew Ellul (Indiana University), Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading (joint with C. Jotikasthira, C.T. Lundblad and Y. Wang)

11.00 – 11.30  Coffee break

11.30 – 12.15  Sarah Draus (CSEF), Circuit Breakers and Market Runs (joint with M. Van Achter)

12.15 – 13.00  Nicholas Serrano-Velarde (Università Bocconi and IGIER), The Causal Effect of Bankruptcy Law on the Cost of Finance (joint with G. Rodano and E. Tarantino)

13.00 – 14.30  Lunch           

Afternoon session: Applied Micro

14.30 – 15.15  Margarita Tsoutsoura (Booth School of Business), Tax Evasion across Industries: Evidence from Greece (joint with N. Artavanis and A. Morse)

15.15 – 16.00  Dimitris Christelis (CSEF), The Impact of Health Insurance on Stockholding: A Regression    Discontinuity Approach (joint with D. Georgarakos and A. Sanz De Galdeano)

16.00 – 16.30  Coffee break

16.30 – 17.15  Salvatore Capasso (Università di Napoli “Parthenope” and CSEF), Financial Development and the Underground Economy (joint with T. Jappelli)

17.15 – 18.00  Yuri Pettinicchi (Università Ca’ Foscari), Financial Literacy, Cognitive Abilities, and Markets (joint with M. Padula) 


Wednesday 27 June 2012

Morning Session: Applied Theory

09.30 – 10.15  Marco Ottaviani (Northwestern University), Project Bundling (joint with A. Banal-Estanol)

10.15 – 11.00  Antonio Rosato (University of California, Berkeley), Selling Substitute Goods to Loss-Averse Consumers: Limited Availability, Bargains and Rip-offs

11.00 – 11.30  Coffee break

11.30 – 12.15  Arpad Abraham (European University Institute), Efficient Risk Sharing with Limited Commitment and Hidden Storage (joint with S. Laczo)

12.15 – 13.00  Nicola Pavoni (Università Bocconi and IGIER), Optimal Bequest and Capital Taxation over the LifeCycle  (joint with Hakki Yazici)

13.30 – 14.30  Lunch

Afternoon session: Theory

14.30 – 15.15  Pierpaolo Battigalli (Università Bocconi and IGIER), Selfconfirming Equilibrium and Model Uncertainty (joint with S. Cerreia-Vioglio, F. Maccheroni, M. Marinacci)

15.15 – 16.00  Piero Gottardi (European University Institute), Dynamic Competitive Economies with Complete Markets and Collateral Constraints (joint with F. Kubler)

16.00 – 16.30  Coffee break

16.30 – 17.15  Jacqueline Morgan (Università di Napoli Federico II and CSEF), Altruistic Behaviour and Correlated Equilibrium Selection  (joint with G. De Marco)

20.00              Social dinner


Thursday 28 June 2012

Morning Session: Experiments

09.30 – 10.15  Dan Levin (The Ohio State University), The Winner's Curse after 30 years: A Dialog between Experimentalist and Theorists

10.15 – 11.00  Marco Pagnozzi (Università di Napoli Federico II and CSEF), Multi-Object Auctions with Resale: An Experimental Analysis (joint with K.J. Saral)

11.00 – 11.30  Coffee break

11.30 – 12.15  Giancarlo Spagnolo (SITE - SSE and Università di Roma Tor Vergata), Time Horizon and Cooperation in Continuous Time (joint with M. Bigoni, M. Cesari and A. Skrzypacz)

12.15 – 13.00  Francesco Drago (Università di Napoli Federico II and CSEF), Compliance Behavior in Networks: Evidence  from a Field Experiment  (joint with with F. Mengel e C. Traxler)

13.00 – 14.30  Lunch


Afternoon session: Finance II

14.30 – 15.15  Marco Pagano (Università di Napoli Federico II and CSEF), Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent (joint with V. Acharya and P. Volpin)

15.15 – 16.00  Francesco Franzoni (University of Lugano), ETFs, Arbitrage, and Contagion
(joint with Itzhak Ben-David and R. Moussawi)

16.00 – 16.30  Coffee break 

16.30 – 17.15  Maria Grazia Romano (Università di Salerno and CSEF), Asymmetry in the Permanent Price Impact of Block Purchases and Sales: Theory and Empirical Evidence (joint with A. Frino and V. Mollica)

17.15 – 18.00  Kim Peijnenburg (Università Bocconi), Life-Cycle Asset Allocation with Ambiguity Aversion and Learning


Friday 29 June 2012

Morning Session: Macroeconomics

09.30 – 10.15  Marco Battaglini (Princeton University), Growth and Fiscal Policy: A Positive Theory

10.15 – 11.00  Sevi Rodriguez Mora (University of Edinburgh), Equilibrium Intermediation and Resource Allocation with a Frictional Credit Market (joint with C. Bauer)

11.00 – 11.30  Coffee break

11.30 – 12.15  Carlo Altavilla (Università di Napoli Parthenope and CSEF), Markets’ Beliefs about the Effectiveness of Non-standard Monetary Policy Measures (joint with D. Giannone)

12:15-13:00   Hugo Hopenhayn (University of California, Los Angeles), On the Measure of Distortions

13.00            Lunch


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