The value of great leaders seems to be an unquestioned assumption. The goal of this Element is to explore the counterintuitive idea that great leaders can pose a hazard to themselves and their followers. Great leadership, which accomplishes morally commendable and difficult objectives by leaders...

In this paper we utilize data on the head-to-head loss rate for students accepted at Williams College, but who opt to enroll elsewhere. For example, we employ data that measure the fraction of students admitted to Williams and to Amherst (or Harvard or Yale, etc.) but who opt to attend Amherst...

We examine the extent to which children are exposed to the welfare system through their mother's receipt of benefits and its impact on several developmental outcomes. Using data from the matched mother-child file from the National Longitudinal Survey of Youth (NLSY), we find that children's...

In this chapter, we describe the potential significance of student peer effects for the economic structure of and behavior in higher education. Their existence would motivate much of the restricted supply, student queuing, and selectivity and institutional competition via merit aid and honors...

In this paper we use data on brothers, and fathers and sons, to estimate the economic returns to schooling. Our goal is to determine whether the correlation between earnings and schooling is due, in part, to the correlation between family backgrounds and schooling. The basic idea is to contrast...

The college choice process can be reduced to three questions:1) Where does a student apply?2) Which schools accept the students?3) Which offer of admission does the student accept?This paper addresses question three. Specifically, we offer an econometric analysis of the matriculation decisions...

This paper uses data from the 1993 National Survey of Small Business Finances to determine the extent to which minority-owned small businesses face constraints in the credit market beyond those faced by white-owned small businesses. First, we present qualitative evidence indicating that black-...

This paper examines the extent to which differences in welfare generosity across states leads to interstate migration. Using microdata from the National Longitudinal Survey of Youth (NLSY) between 1979 and 1992, we employ a quasi-experimental design that utilizes the categorical eligibility of...

We consider the effect of abortion legalization on births in the United States. A simple theoretical model demonstrates that the impact of abortion legalization on the birth rate is ambiguous, because both pregnancy and abortion decisions could be affected. We use variation in the timing of...