Performance-Based Rankings and School Quality
研究学生如何从动态环境中的绩效排名推断学校质量，发现排名信息量受学校录取规则和学生距离偏好的影响。
I study students' inferences about school quality from performance-based rankings in a dynamic setting. Schools differ in location and unobserved quality, students differ in location and ability. Short-lived students observe a school ranking as a signal about schools' relative quality, but this signal also depends on the ability of schools' past intakes. Students apply to schools, trading off expected quality against proximity. Oversubscribed schools select applicants based on an admission rule. In steady-state equilibrium, I find that rankings are more informative if oversubscribed schools select more able applicants or if students care less about distance to school.