The No Child Left Behind law mandated the institution of adequate yearly progress (AYP) objectives, on which schools are assigned a pass or fail. Fail status is associated with negative publicity and often sanctions. In this paper, I study the incentives and responses of schools that failed AYP...

Remarks at the Clearing House's Second Annual Business Meeting and Conference, New York City.

Remarks at the Clearing House's Second Annual Business Meeting and Conference, New York City.

In an effort to reform K-12 education, policymakers have introduced school vouchers—scholarships that make students eligible to transfer from public to private schools—in some U.S. school districts. This article analyzes two such educational interventions in the United States: the Milwaukee...

Over the past two decades, state and federal education policies have tried to hold schools more accountable for educating students by tying rewards and sanctions to test scores and other measurable outcomes. A common criticism of these policies is that they may induce schools to “game the...

The authors extend the standard public goods game in a variety of ways, in particular by allowing for endogenous preference over institutions and by studying the relationship between individual types, their preferences, and later behavior within the various institutional environments. They...

This paper explores the advantages of a new financial charter for large, complex, internationally active financial institutions that would address the corporate governance challenges of such organizations, including incentive problems in risk decisions and the complicated corporate and...

This paper examines the effects of constraints in a Tiebout framework applied to school finance reforms. We use data from Michigan, which enacted a comprehensive school finance reform in 1994 that, in effect, ended local discretion over school spending. This scenario affords us a unique...

In our experiment, a dictator game variant, the reported outcome of a die roll determines the endowment (low/high) in a subsequent dictator game. In one treatment the experimenter is present and no cheating is possible, while in another subjects can enter the result of the roll themselves. Moral...