A cost-effectiveness analysis was conducted of Gordon, Kane, and Staiger's (2006) proposal to raise student achievement by identifying and replacing the bottom quartile of novice teachers, using value-added assessment of teacher performance. The cost effectiveness of this proposal was compared to the cost effectiveness of voucher programs, charter schools, a 10% increase in per pupil expenditure, increased educational accountability (defined as the implementation of high school exit exams), comprehensive school reform, class size reduction, high-quality preschool, and rapid assessment, where student performance in math and reading is rapidly assessed 2-5 times per week. The most cost-effective approach for raising student achievement is rapid assessment, which is approximately one magnitude (10 times) more cost effective than comprehensive school reform, two magnitudes more cost effective than class size reduction or a 10% increase in per pupil expenditure or Gordon et al.'s (2006) proposal or increased educational accountability, three magnitudes more cost effective than voucher programs or high-quality preschool, and four magnitudes more cost effective than charter schools. (Contains 2 tables and 7 endnotes.)