Real and Private-Value Assets Conference

Conference Organizers:

William Goetzmann (Yale University)
Christophe Spaenjers (HEC Paris)

RFS Editor:

Stijn Van Nieuwerburgh

About the Conference:

The conference aims to bring together research on real and private-value assets, such as residential real estate, commercial real estate, art and other collectibles, and any other assets with a private-value component.

Sponsored by the Yale School of Management International Center for Finance and The Review of Financial Studies.

Agenda | Friday, January 31, 2020

Yale School of Management

New Haven, CT

7:45 am	Registration & Breakfast Classroom 2410
8:20 am	Welcome Remarks
	Session 1: Residential Real Estate
8:30 am	“The Gender Gap in Housing Returns” Paul Goldsmith-Pinkham, Kelly Shue Presenter: Paul Goldsmith-Pinkham, Yale University Discussant: Paola Sapienza, Northwestern University
9:15 am	“Does the Salience of Risk Affect Large, Risky Asset Purchases?” Cloé Garnache Presenter: Cloé Garnache, University of Oslo Discussant: Eva Steiner, Cornell University
10:00 am	Break
	Session 2: Art & Collectibles
10:30 am	“When a Master Dies: Speculation and Asset Float” Julien Pénasse, Luc Renneboog, José A. Scheinkman Presenter: José A. Scheinkman, Columbia University Discussant: Edward Glaeser, Harvard University
11:15 am	“Dual Markets & Optimal Collectibles Securitization” Blair Vorsatz Presenter: Blair Vorsatz, University of Chicago Discussant: Boris Vallee, Harvard University
12:00 pm	Lunch
	Session 3: Commercial Real Estate & Infrastructure
1:00 pm	“The Subsidy to Infrastructure as an Asset Class” Aleksandar Andonov, Roman Kraussl, Joshua Rauh Presenter: Aleksandar Andonov, University of Amsterdam Discussant: Arpit Gupta, New York University
1:45 pm	“Gravity, Counterparties and Foreign Investment” Cristian Badarinza, Tarun Ramadorai, Chihiro Shimizu Presenter: Cristian Badarinza, National University of Singapore Discussant: Jacob Sagi, University of North Carolina at Chapel Hill
2:30 pm	Break
	Session 4: Sustainable Investing & Entrepreneurship
3:00 pm	“Get Real! Individuals Prefer More Sustainable Investments” Rob Bauer, Tobias Ruof, Paul Smeets Presenter: Paul Smeets, Maastricht University Discussant: Samuel Hartzmark, The University of Chicago
3:45 pm	“Personal Wealth and Self-Employment” Aymeric Bellon, J. Anthony Cookson, Erik P. Gilje, Rawley Z. Heimer Presenter: J. Anthony Cookson, University of Colorado-Boulder Discussant: Sabrina Howell, New York University
4:30 pm	Cocktail Reception

Additional Information

TRANSPORTATION
- SOM’s Edward P. Evans hall is located at 165 Whitney Avenue, New Haven, CT.
- New Haven Union Station is about one mile from SOM Evans Hall and is served by Amtrak and Metro North trains. Please check the Metro North website for the most current schedule.
- Taxis are available at Union Station.
- Uber and Lyft are also available in New Haven.
Local Taxi Companies:
- Yellow Cab: (203) 777-7777
- Quick Taxi: (203) 777-7778
- City Wide Taxi: (203) 777-0007
Parking:
- There is absolutely no parking at the Yale School of Management building or the New Haven Lawn Club for conference guests.
- Please consult the Park New Haven website for parking options if needed, including locations with Electric Vehicle charging stations.
Questions? Contact: YaleICF@yale.edu