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→How might the tests be improved upon
===How might the tests be improved upon===
I am slightly worried about the exogenous nature of reunions. Reunions occur every 5 years, and while its likely that peers do not keep in touch outside of the reunion, I am worried about some other sort of convergence effect. Perhaps, executives keep fairly close tabs on their close friends who are from their section group, and if they have less acquisitions or something work to make this up in the lead up to a reunion, so its not so much the reunion as the mechanism, as a keeping up with the Johnson's effect.
===What is an alternate empirical strategy===
