When earnings are used to measure benefits, the productivity of a dollar is fairly similar across a wide array of selective postsecondary institutions in the United States, suggesting that market forces compel some amount of efficiency among selective institutions, according to research discussed in a new report on the NBER's program on Education. In contrast, market forces appear to exert little productivity discipline on nonselective schools, possibly because those schools' students are poorly informed investors or rely greatly on third parties to pay their tuition. The full report is in the new edition of the quarterly NBER Reporter. Also featured in this issue are articles on financial misconduct, survey expectations, patents and innovation, and charitable-giving behaviors.