A Revealed Preference Ranking of U.S. Colleges and Universities
AbstractWe present a method of ranking U.S. undergraduate programs based on students' revealed preferences. When a student chooses a college among those that have admitted him, that college "wins" his "tournament." Our method efficiently integrates the information from thousands of such tournaments. We implement the method using data from a national sample of high-achieving students. We demonstrate that this ranking method has strong theoretical properties, eliminating incentives for colleges to adopt strategic, inefficient admissions policies to improve their rankings. We also show empirically that our ranking is (1) not vulnerable to strategic manipulation; (2) similar regardless of whether we control for variables, such as net cost, that vary among a college's admits; (3) similar regardless of whether we account for students selecting where to apply, including Early Decision. We exemplify multiple rankings for different types of students who have preferences that vary systematically. JEL Codes: I2, I23, C35, D11. Copyright 2013, Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal The Quarterly Journal of Economics.
Volume (Year): 128 (2013)
Issue (Month): 1 ()
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- Christopher Avery & Mark Glickman & Caroline Hoxby & Andrew Metrick, 2004. "A Revealed Preference Ranking of U.S. Colleges and Universities," NBER Working Papers 10803, National Bureau of Economic Research, Inc.
- I2 - Health, Education, and Welfare - - Education
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
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