Dylan B. Minor
Kellogg School of Management (MEDS)
2001 Sheridan Road
Evanston, Il 60208
Tel: 1 847 491 2978
NBER Working Papers and Publications
|December 2012||Misconduct in Credence Good Markets|
with Jennifer Brown: w18608
We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions of the model using sales complaint data for exclusive and independent insurance agents. We find that exclusive insurance agents working for large branded firms are more likely to be the subject of a justified sales complaint, relative to independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per year.
|December 2011||Selecting the Best? Spillover and Shadows in Elimination Tournaments|
with Jennifer Brown: w17639
We consider how past, current, and future competition within an elimination tournament affect the probability that the stronger player wins. We present a two-stage model that yields the following main results: (1) a shadow effect--the stronger the expected future competitor, the lower the probability that the stronger player wins in the current stage and (2) an effort spillover effect--previous effort reduces the probability that the stronger player wins in the current stage. We test our theory predictions using data from high-stakes tournaments. Empirical results suggest that shadow and spillover effects influence match outcomes and have been already been priced into betting markets.
Published: Jennifer Brown & Dylan B. Minor, 2014. "Selecting the Best? Spillover and Shadows in Elimination Tournaments," Management Science, vol 60(12), pages 3087-3102.