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that while they might make more on salary, they would lose the 'consulting-cachet' of being a prof from an elite school.
NQO's entire point was that the double and triple salaries (or even 50K extra) might draw profs who don't do any consulting and don't plan to. So consulting cachet doesn't matter to them.
I should note that places like NYU and BU econ have at various times lured away very well-known people with lucrative offers from schools like Harvard, Stanford and Princeton.