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Catching Up Is Hard To Do: Undergraduate Prestige, Elite Graduate Programs, And The Earnings Premium, Joni Hersch, W. Kip Viscusi
Catching Up Is Hard To Do: Undergraduate Prestige, Elite Graduate Programs, And The Earnings Premium, Joni Hersch, W. Kip Viscusi
Vanderbilt Law School Faculty Publications
A commonly held perception is that an elite graduate degree can "scrub" a less prestigious but less costly undergraduate degree. Using data from the National Survey of College Graduates from 2003 through 2017, this paper examines the relationship between the status of undergraduate degrees and earnings among those with elite post-baccalaureate degrees. Few graduates of nonselective institutions earn post-baccalaureate degrees from elite institutions, and even when they do, undergraduate institutional prestige continues to be positively related to earnings overall as well as among those with specific post-baccalaureate degrees including business, law, medicine, and doctoral. Among those who earn a graduate …
Safety At Any Price, W. Kip Viscusi
Safety At Any Price, W. Kip Viscusi
Vanderbilt Law School Faculty Publications
After three decades of experience with extensive government regulation and oversight of health, safety and environmental matters, we have reason to believe that those measures have largely failed to fulfill their initial promise, but many of the initial promises were infeasible goals of a "zero-risk" society. Economic findings with respect to risk-risk tradeoffs highlight the fallacies inherent in government's zero-risk mentality. Agencies that make an unbounded financial commitment to safety frequently are sacrificing individual lives. There continues to be major opportunities to improve regulatory performance by targeting existing inefficiencies and using market mechanisms (rather than strict command-and-control mechanisms) to achieve …