The Best Business Schools: A Market Based Approach

JOURNAL OF BUSINESS, Vol. 70, No. 1, January 1997

Posted: 15 Nov 1996

See all articles by Joseph S. Tracy

Joseph S. Tracy

National Bureau of Economic Research (NBER); Federal Reserve Bank of Dallas

Joel Waldfogel

University of Minnesota - Twin Cities - Carlson School of Management; National Bureau of Economic Research (NBER); University of Minnesota - Twin Cities - Department of Economics

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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

Suggested Citation

Tracy, Joseph and Waldfogel, Joel, The Best Business Schools: A Market Based Approach. JOURNAL OF BUSINESS, Vol. 70, No. 1, January 1997, Available at SSRN: https://ssrn.com/abstract=3502

Joseph Tracy

National Bureau of Economic Research (NBER) ( email )

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Federal Reserve Bank of Dallas ( email )

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Dallas, TX 75265-5906
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Joel Waldfogel (Contact Author)

University of Minnesota - Twin Cities - Carlson School of Management ( email )

19th Avenue South
Minneapolis, MN 55455
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

University of Minnesota - Twin Cities - Department of Economics ( email )

271 19th Avenue South
Minneapolis, MN 55455
United States

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