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The Best Business Schools: A Market Based ApproachJoseph S. TracyFederal Reserve Bank of New York; National Bureau of Economic Research (NBER) Joel WaldfogelUniversity of Minnesota - Twin Cities - Carlson School of Management; National Bureau of Economic Research (NBER); University of Minnesota - Twin Cities - Department of Economics JOURNAL OF BUSINESS, Vol. 70, No. 1, January 1997 Abstract: This paper introduces a market based methodology for evaluating the performance of MBA programs. We seek to distinguish the quality of a program from the quality of its students. We judge a program's performance by its value added, measured by the graduates' salaries, after accounting for student characteristics and job attributes. While four of our top five programs have been highly ranked elsewhere, ten of our top twenty programs are elsewhere unranked. We explore the determinants of value added and find that programs with high faculty salaries and those relying heavily on the case method have significantly higher value added.
JEL Classification: I21 Accepted Paper SeriesDate posted: November 15, 1996Suggested CitationContact Information
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