Abstract
Since its debut in 1983, the U.S. News & World Report College Guide has become the premier ‘consumer report’ of higher education. We find that peer assessment, which is the largest component of the U.S. News & World Report ranking function, contains a penalty for religiously affiliated schools that is independent of the other U.S. News & World Report variables and several proxies for quality. Possible explanations of the religious penalty include taste‐based discrimination, perceived differences in the quality of the curriculum, and strategic voting by college administrators.
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