Reputation and School Competition

William Bentley MacLeod · Miguel Urquiola

109 citations0/0 files storedAmerican Economic Review

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School Choice and Performance Game Theory and Voting Systems Intergenerational and Educational Inequality Studies

Abstract

Stratification is a distinctive feature of competitive education markets that can be explained by a preference for good peers. Learning externalities can lead students to care about the ability of their peers, resulting in across-school sorting by ability. This paper shows that a preference for good peers, and therefore stratification, can also emerge endogenously from reputational concerns that arise when graduates use their college of origin to signal their ability. Reputational concerns can also explain puzzling observed trends including the increase in student investment into admissions exam preparation, and the decline in study time at college. (JEL I21, I23, I26, J24)

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1970The Market for "Lemons": Quality Uncertainty and the Market Mechanism 1973Job Market Signaling 2019American Economic Review 200261. Capitalism and Freedom 2006Incentives and Prosocial Behavior 1999Managerial Incentive Problems: A Dynamic Perspective 1979Job Matching and the Theory of Turnover 1991Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence

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