Abstract
Texas engaged in a large-scale policy experiment when it instituted the Top 10% Plan. This policy guarantees automatic admission to their state university of choice for all high school seniors who graduate in the top decile of their high school class. We find evidence that households reacted strategically to this policy by moving to neighborhoods with lower-performing schools, increasing property values in those areas. The effect is strongest among schools that were very low-performing before the change in policy. We also find evidence that these strategic reactions were influenced by the number of local schooling options available, as these effects of the Top 10% Plan were weaker in areas that had fewer school choices.
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