NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Sales Force and Competition in Financial Product Markets: The Case Of Mexico's Social Security Privatization

Justine S. Hastings, Ali Hortaçsu, Chad Syverson

NBER Working Paper No. 18881
Issued in March 2013, Revised in April 2017

---- Acknowledgements ----

We thank Steven Berry, Dennis Carlton, Judy Chevalier, J.P. Dube, Liran Einav, Matthew Gentzkow, Brigitte Madrian, Jesse Shapiro, Alan Sorenson, and participants at the QME conference, the NBER Household Finance, Public Economics and Industrial Organization conferences for helpful comments. Noele Aabye, Denrick Bayot, Sarah Johnston, Carolina Orellana, Adrian Rubli, Unika Shrestha and Jose Tudon provided outstanding research assistance. Hastings gratefully acknowledges financial support from the National Institute on Aging grant R01AG032411-01A2 and the U.S. Social Security Administration. Hortaçsu and Syverson thank the Chicago Initiative on Global Markets for financial support. We also thank the outstanding leadership and staff at CONSAR for making this project possible. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Chad Syverson ----

Syverson is a partner in a consulting firm that has had financial institutions as clients.

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