\The (Adverse) Incentive Effects of Competing with Superstars: A Reexamination of the Evidence"1 Robert A. Connolly and Richard J. Rendleman, Jr. February 22, 2013 1Robert A. Connolly is Associate Professor, Kenan-Flagler Business School, University of North Carolina, Chapel Hill. Richard J. Rendleman, Jr. is Professor Emeritus, Kenan-Flagler Business School, University of North Carolina, Chapel Hill and Visiting Professor at the Tuck School of Business at Dartmouth. The authors thank the PGA TOUR for providing the ShotLink data and a portion of the Official World Golf Rankings data used in connection with this study and Mark Broadie, Edwin Burmeister and David Dicks for providing very helpful comments. We thank Jennifer Brown for providing us with a condensed ver- sion of her STATA code, providing her weather and Official World Golf Ranking data, and providing lists of events employed in her study. We also thank her for responding to many of our questions in corre- spondence and providing comments on earlier drafts of this paper. Please address comments to Robert Connolly (email: robert
[email protected]; phone: (919) 962-0053) or to Richard J. Rendleman, Jr. (e-mail: richard
[email protected]; phone: (919) 962-3188). `Quitters Never Win: The (Adverse) Incentive Effects of Competing with Superstars: A Reexamination of the Evidence" Abstract In \Quitters Never Win: The (Adverse) Incentive Effects of Competing with Superstars," Brown (2011) argues that professional golfers perform relatively poorly in tournaments in which Tiger Woods also competes. We show that Brown's conclusions are based on a problematic empirical design, which if corrected yields no evidence of a superstar effect.