Borgida has questioned the extent to which Wells and Harvey's data indicate that people do not ignore consensus information when making predictions and attributions. This article takes issue with Borgida's summary of parts of our work and with several of his arguments on grounds of precision and completeness. It is also noted that Kahneman and Tversky's analyses of data in their lawyer-engineer...

Abstract We study whether firms that are led by chief executive officers (CEOs) with law degrees (lawyer CEOs) have different credit ratings and costs of debt from other firms. Our sample consists Standard & Poor’s 1500 1992 to 2020, 9.2% which lawyer CEOs. find these better ratings, compared On average, their cost is 10% lower than CEOs without legal backgrounds. results robust specificati...