Someone I know has a similar dilemma (not the exact same schools) and multiple senior and junior professors at a top 10 institution are all telling him the same things: econ program gives you a better shot on the job market. The down side is that you have to work harder given that the faculty to student ratio is lower, and most of the time funding is lower.
That said given the particular area of interest I would rank them as follow: MIT, Stanford, HBS, Princeton. HBS is probably the only B School that has better placements than the lower ranked top 10 econ programs. Although if your friend wants to do behavioral instead of experimental, I would rank MIT much lower.
Hopefully others can give additional info or correct me if I'm wrong.