Many studies find a notable return to college quality. Dale and Krueger (2002, 2011) only do until they address selection bias concerns by proxying for ambition and by matching students with similar admission outcomes but different matriculation decisions. Although we employ similar...

A large literature has focused on estimating the returns to schooling and has typically done so by incorporating institutional heterogeneity in quality along merely one dimension (such as average SAT scores). Using longitudinal survey data of registrants for the GMAT exam and school level...