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dc.contributor.authorChade, H.
dc.contributor.authorLewis, Gregory
dc.contributor.authorSmith, L.
dc.date.accessioned2014-06-25T14:34:59Z
dc.date.issued2014
dc.identifier.citationChade, H., G. Lewis, and L. Smith. 2014. “Student Portfolios and the College Admissions Problem.” The Review of Economic Studies (February 17).en_US
dc.identifier.issn0034-6527en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:12363836
dc.description.abstractWe develop a decentralized Bayesian model of college admissions with two ranked colleges, heterogeneous students and two realistic match frictions: students find it costly to apply to college, and college evaluations of their applications are uncertain. Students thus face a portfolio choice problem in their application decision, while colleges choose admissions standards that act like market-clearing prices. Enrollment at each college is affected by the standards at the other college through student portfolio reallocation. In equilibrium, student-college sorting may fail: weaker students sometimes apply more aggressively, and the weaker college might impose higher standards. Applying our framework, we analyze affirmative action, showing how it induces minority applicants to construct their application portfolios as if they were majority students of higher caliber.en_US
dc.description.sponsorshipEconomicsen_US
dc.language.isoen_USen_US
dc.publisherOxford University Press (OUP)en_US
dc.relation.isversionofdoi:10.1093/restud/rdu003en_US
dash.licenseOAP
dc.titleStudent Portfolios and the College Admissions Problemen_US
dc.typeJournal Articleen_US
dc.description.versionAccepted Manuscripten_US
dc.relation.journalThe Review of Economic Studiesen_US
dash.depositing.authorLewis, Gregory
dc.date.available2014-06-25T14:34:59Z
dc.identifier.doi10.1093/restud/rdu003*
workflow.legacycommentsFAR 2014en_US
dash.contributor.affiliatedLewis, Gregory


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