Student Portfolios and the College Admissions Problem
نویسندگان
چکیده
منابع مشابه
Student Portfolios and the College Admissions Problem ∗
We develop the first Bayesian model of decentralized college admissions, with heterogeneous students, costly portfolio applications, and uncertainty about student calibers. Students face a nontrivial portfolio choice, and colleges choose admissions standards that act like market-clearing prices. We solve for the two college model equilibrium, deriving a “law of demand”. The lesser college impac...
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We consider the classic college admissions problem. Unlike Gale and Shapley (1962), we realistically assume that (i) students’ college application choices are nontrivial because applications are costly, and (ii) college rankings of students are noisy and thus uncertain at the time of application. We analyze a general equilibrium model where two ranked colleges set admissions standards for stude...
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In the college admissions problem, we consider the incentives confronting agents who face the prospect of being matched by a random stable mechanism. We provide a fairly complete characterization of ordinal equilbria. Namely, every ordinal equilibrium yields a degenerate probability distribution. Furthermore, individual rationality is a necessary and su¢ cient condition for an equilibrium outco...
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Gaining entrance to a four-year college or university, particularly a selective institution, has become increasingly competitive over the last several decades. We document this phenomenon and show how it has varied across different parts of the student ability distribution and across region, with the most pronounced increases in competition being found among higher-ability students and in the N...
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ژورنال
عنوان ژورنال: The Review of Economic Studies
سال: 2014
ISSN: 0034-6527,1467-937X
DOI: 10.1093/restud/rdu003