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Teacher quality is now the focus of unprecedented policy analysis. To achieve its goals, the No Child Left Behind Act (NCLB) requires a “highly qualified teacher” in all classrooms. The concern with teacher quality has been driven by a growing recognition, fueled by accumulating research evidence, of how critical teachers are to student learning. To acquire and retain high-quality teachers in our Nation’s classrooms will require substantial policy change at many levels. There exists...
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Market design seeks to translate economic theory and analysis into practical solutions to real-world problems. By redesigning both the rules that guide market transactions and the infrastructure that enables those transactions to take place, market designers can address a broad range of market failures. In this paper, we illustrate the process and power of market design through three examples: the design of medical residency matching programs; a scrip system to allocate food donations to...
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