the one with the argument about elite college education

Here we go again: A famous paper by Dale and Krueger claims that going to an elite college doesn’t matter. Their proof: students admitted to more selective schools who instead go to other schools make just as much as those who enrolled in the selective schools. Settled? Not so fast. Robin Hanson kicks up dust by going back and rereading the papers. First, there is an effect – if you don’t use any control variables. Second, there is an effect of selectivity if you use a selectivity measure other than college SAT. If you use the Barron’s selectivity index and tuition charged, then you get effects.

The comments at Hanson’s blog and Marginal are both worth reading. A few good points: people who select into less competitive schools may be less motivated; tuition may correlated with family SES and family connections can get you into the right jobs; the Dale and Krueger paper does not control for occupation; elite schools tend to be stepping stones to absurdy well paying sectors like finance. Bottom line: colleges sort both on family and ability/drive, so you can find a regression to suit your taste. Other views? Dead horses are available in the comment section.