Reputation and Efficiency: A Nonparametric Assessment of America's Top-Rated MBA Programs

Widely publicized reports of fresh MBAs getting multiple job offers with six-figure annual salaries leave a long-lasting general impression about the high quality of selected business schools. While such spectacular achievement in job placement rightly deserves recognition, one should not lose sight of the resources expended in order to accomplish this result. In this study, we employ a measure of Pareto-Koopmans global efficiency to evaluate the efficiency levels of the MBA programs in Business Week's top-rated list. We compute input- and output-oriented radial and non-radial efficiency measures for comparison. Among three tier groups, the schools from a higher tier group on average are more efficient than those from lower tiers, although variations in efficiency levels do occur within the same tier, which exist over different measures of efficiency.

Recounting the Hurricane of 1938: local memories of a regional disaster

The Hurricane of 1938 was one of those defining moments that divide time into parts that either precede or follow. It was transformative, impacting human lives and settlements as well as natural systems, coastal and inland, aquatic and terrestrial, with a force unsurpassed in the region’s living memory. Seventy years have now passed since that hurricane made its historic landfall on the afternoon of September 21, 1938. Humans have regrouped and rebuilt and nature has regenerated and reclaimed, but the memories of those who lived through the Hurricane of ‘38 remain.