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Dynamic Decision Making Under Rolling Admissions: Evidence from U.S. Law School Applications

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Listed:
  • Yao Luo
  • Yu Wang

Abstract

Admission processes in many higher education markets are inherently dynamic. We study timing of student application and school admission under rolling admissions using a unique U.S. law school market dataset. Our results show that law schools employ non-stationary admission standards within application cycles: applications submitted earlier enjoy a considerable admission advantage relative to later applications. We rationalize such strategies in a simple yield management model and provide evidence for three types of frictions that constrain applicants from applying earlier.

Suggested Citation

  • Yao Luo & Yu Wang, 2020. "Dynamic Decision Making Under Rolling Admissions: Evidence from U.S. Law School Applications," Working Papers tecipa-681, University of Toronto, Department of Economics.
    • Handle: RePEc:tor:tecipa:tecipa-681
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    References listed on IDEAS

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    1. Christopher Avery & Jonathan Levin, 2010. "Early Admissions at Selective Colleges," American Economic Review, American Economic Association, vol. 100(5), pages 2125-2156, December.
    2. Caroline M. Hoxby & Sarah Turner, 2015. "What High-Achieving Low-Income Students Know about College," American Economic Review, American Economic Association, vol. 105(5), pages 514-517, May.
    3. Brian Knight & Nathan Schiff, 2022. "Reducing Frictions in College Admissions: Evidence from the Common Application," American Economic Journal: Economic Policy, American Economic Association, vol. 14(1), pages 179-206, February.
    4. Scott Carrell & Bruce Sacerdote, 2017. "Why Do College-Going Interventions Work?," American Economic Journal: Applied Economics, American Economic Association, vol. 9(3), pages 124-151, July.
    5. Eric P. Bettinger & Bridget Terry Long & Philip Oreopoulos & Lisa Sanbonmatsu, 2012. "The Role of Application Assistance and Information in College Decisions: Results from the H&R Block Fafsa Experiment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(3), pages 1205-1242.
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    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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