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...

Although academic ability is the most important explanatory variable in studies of student learning, researchers control for it with a wide array of proxies and combinations thereof. We investigate how the proxy choice affects estimates of undergraduate student learning by testing over 150...