Admitted to a top 20-30 finance phd program but feel underplaced. Now I am coauthoring a paper with a senior professor and considering turning down my accepted offer and re-applying this December. I know it's not right but I think I should do what is good for me in the long run.
I haven't talked with my referees so I am not sure whether they are willing to write a letter for me if I renege my offer. If you were me, what would you do? Any suggestions and thoughts will be appreciated.
BTW I hope to enter top 15 program. Has anybody turned down their accepted offer and re-applied? Need your advice.