This item is under embargo and not available online per the author's request. For access information, please visit http://libanswers.wustl.edu/faq/5640.
Date of Award
Olin Business School
Doctor of Philosophy (PhD)
This dissertation investigates several different aspects of expert behavior in firm and market settings. Experts are growing in importance in public and industry settings, and understanding how they make decisions will help managers and policymakers design their relationships with experts to achieve the best outcomes possible. Using data from three different industries health care, real estate, and contract representation I investigate how experts develop and use social and human capital and how they respond to incentives in doing the work they are hired to do. The results of this dissertation suggest that the discretion naturally afforded to experts due to their superiority to laymen in their areas of expertise can lead to behavior that may not always add the highest degree of value to their employers. Nevertheless, managers who keep this in mind can find ways to achieve very beneficial outcomes even in the presence of uncertainty.
Chair and Committee
Nick Argyres, Jackson Nickerson, Lamar Pierce, Todd Zenger,
Cooper, Ryan Lewis, "Economic Issues with the Decisions and Human Capital of Experts" (2016). Arts & Sciences Electronic Theses and Dissertations. 814.