The authors are listed in alphabetical order with implied equal authorship. We would like to thank Lamar Pierce, the department editor, and three anonymous reviewers for their invaluable contributions. Their insights and suggestions have undoubtedly made this a better paper. We would also like to extend our appreciation to Aharon Cohen-Mohliver, Bryan Stroube, and Chris Rider for their insightful input on earlier drafts of this work. Their comments have been instrumental in shaping its development. We are also immensely grateful to the participants of the seminar series at the University of Michigan, Cornell, HEC Paris, NYU, and Washington University-St. Louis as well as those of the University of Maryland PhD Alumni reading group and the Strategy, Innovation, and Entrepreneurship workshop for their thoughtful valuable feedback. We would also like to thank Petros Milionis, retired firearms and tactical training instructor for the Chicago Police Department, for his time and providing insight into the police academy training process.