Question: Refer to the Southern Economic Journal Apr 2008 study of

Refer to the Southern Economic Journal (Apr. 2008) study of Ph.D. programs in economics, Exercise. The authors also made the following observation: “A noticeable feature of this skewness is that distinction between schools diminishes as the rank declines. For example, the top-ranked school, Harvard, has a z -score of 5.08, and the fifth-ranked school, Yale, has a z -score of 2.18, a substantial difference. However, . .. the 70th-ranked school, the University of Massachusetts, has a z -score of −0.43, and the 80th-ranked school, the University of Delaware, has a z-score of – 0.50, a very small difference. [Consequently] the ordinal rankings presented in much of the literature that ranks economics departments miss the fact that below a relatively small group of top programs, the differences in [overall] productivity become fairly small.” Do you agree?

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