| Sunday 4:15 - 5:45 p.m. SEA  | 
						Session 26I Studies in Asset Pricing  | 
            
Session Chairs:  | 
          Liping Zheng, Drake University  | 
Papers:  | 
					
           "Equity Premium During Bull and Bear Markets: Do Investors Expect to Earn Less by Investing in Stocks?" "Taxing the Volume: Trading Frictions Added to Incomplete Markets" "Liquidity, Asset Pricing, and the Macroeconomy"  | 
            
Discussants:  | 		
          Shalini Nageswaran, University of California, San Diego  | 
| Monday 3:00 - 4:45 p.m. SEA  | 
						Session 11M Studies in Portfolio Choice  | 
            
Session Chairs:  | 
          Olga Ukhaneva, Georgetown University  | 
Papers:  | 
					
           "The Additive Logistic Normal Distribution of the Market Portfolio of Risk Assets and the Regressive Equations of Asset Pricing" "Demand in a Portfolio-Choice Environment: The Evolution of Telecommunications"  | 
            
Discussants:  | 		
          Huiwen Zou, Fuzhou University  |