13:27 here. I'm certainly not an economist, so I'll take your word for it. But I do think there's some sort of economic analysis underlying the approach I'm trying to describe. Each person has a limited time/money to "spend" on application, and so must choose the best ROI. Setting aside whether you agree or disagree with my approach, what's the right terminology? |
Exactly. |
Good analysis, clearly and calmly stated -- thanks! |
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It looks like there are two favored approaches here:
1. Straight up application numbers 2. Admissions rates, which equal application numbers (the first approach) divided by the number of open slots. So basically, the 2nd approach is equal to the 1st approach, but scaled by class size. There doesn't seem to be a good reason for doing this. In fact, scaling by class size seems like a bad idea, because it introduces biases (the Curtis example). You can try to argue that this scaling by class size somehow captures parental investment of time and money, but that's not what the formula above is actually measuring. To understand parental investment, we'd need to know the application fee, number of essays and play dates, and the rest. |
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Here's a spreadsheet of applications and admissions from 50+ colleges. https://docs.google.com/spreadsheet/pub?key=0ArlRBr9Qvz0mdEdLNzNsRnBKT3Z1dDZ5QTFCQVV1NkE&output=html
Group A - The ones with the most applications: UCLA UCSD UCSB UC Berkeley UC Irvine Boston U Group B - The ones with the lowest admissions percentage: Brown Columbia Cooper Union Harvard Princeton Julliard Stanford Yale Now if I told a high school senior she could choose to attend a school from either Group A or Group B, which Group do you think she'd pick? |
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As an economist, I have to point out that desirability (which we call utility) can be a function of many variables. These variables can include, but are not limited to, the perception of eliteness, proximity to your house, affordability so that you aren't sacrificing college or other savings, athletic program, collaborative vs competitive atmosphere, and much much more. Economists actually build utility curves with multiple variables, no kidding.
As you can imagine, there will be no single definition of desirability that captures all families. Different families will weigh different things as being desirable. The ratio of acceptances gets to the perception of eliteness, but it doesn't get at these other possible components of desirability that some families may value even more. So it would make perfect sense that 1000 families would prefer Gonzaga to Sidwell because Gonzaga is more affordable and they can pay the mortgage. |
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http://knowledge.wharton.upenn.edu/papers/1287.pdf
Use something similar to this methodology and Sidwell comes out on top, I'd bet. |
| All I know is that I totally don't want to be an economist when i grow up. wow, what a weird thing to argue about. |
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Talk about apples and oranges - I wonder is there is a single person in this entire region who applied to BOTH Gonzaga and Sidwell.
The schools are about as different as one can imagine - though both have their followings about DC's elite. |
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Talk about apples and oranges - I wonder if there is a single person in this entire region who applied to BOTH Gonzaga and Sidwell.
The schools are about as different as one can imagine - though both have their followings about DC's elite. |
You're mixing up "most desirable" with "most affordable." According to your logic, the meal people most desire comes from McDonald's. The car people most desire is not a Lexus, an Audi, or a BMW ... it's a Toyota Camry. And you didn't answer the question -- Group A or Group B? |
Group C
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Have to agree with group c. You left out a lot of really great schools that my DC actually prefers to your group b, such as wash u in st louis, colgate, williams etc. That is what is wrong with your argument. There are so many great schools to choose from. |
I was blurring the issues, because most folks here wouldn't get it, and it's not crucial. But just for you: a person "maximizes utility subject to a budget constraint." Happy now? Yep, I didn't think so. This is another way of saying that price (what I called "affordability" in my post above) is a key factor in decision-making, because, for many families, Gonzaga is affordable, but Sidwell is not. To expand on this, what we've been calling "desirability" here would be referred to by economists as a function of all the variables that are important to this particular person when choosing a school. These variables may, or may not, include price, perception of eliteness, athletics, Catholic education, teaching methodology, location, and whatever else this person feels is important in a school, all weighted appropriately for this person. (Now I know you're really sorry you asked!) The key point, which I think economists share with psychologists, is that "desire" is a complex mix of many different factors, and that a single factor (like perception of eliteness, aka admissions ratios) doesn't fully explain what we've been calling the "desirability" of a school or why Gonzaga gets 1000 applications. In particular, price plays a much bigger role that many here seem to be acknowledging. Taking your argument to its logical conclusion, you're implying that if we waved a wand and made all the Gonzaga families into millionaires (so that price becomes irrelevant), all the Gonzaga families would transfer to Sidwell (assuming there's room for them at Sidwell). And all the McDonalds customers would start dining at the Ritz. And all Camry owners would switch to BMWs. But I think you can see how we have absolutely no way of knowing these things. You can think of 100s of reasons why none of this would happen, for example, many Gonzaga families place a high value on sports and a Catholic education, many McDonalds customers just love their greasy Big Macs, and many Camry owners appreciate the cars' low-key reliability. It's like saying, "If Oberlin was in Los Angeles and cost half as much, it would get as many applications as UCLA." Really, how would we know that? We don't know and, really, nobody cares about useless speculation like this! Therefore, we're left with the facts that we have, rather than speculation on counterfactuals about what schools families would choose if only they were richer. And as I said above, price is clearly a factor in how people make real-life decisions about what they "desire" (as we've been calling it), given their budgets. You need to re-read my first post carefully. I was trying to stay out of this, but the answer is in there. Here's a tip, though: if you "maximize utility subject to a budget constraint," you are going to get a quantity, not a ratio to something like class size. I'll also mention that scaling by class size skews numbers in unpredictable (and therefore unjustifiable) ways, and ad hoc solutions (let's toss out Curtis because we feel like it, but keep another school because we feel like doing that) only confuse things instead of helping. I have no connection to either Gonzaga or Sidwell, FWIW. |
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19:13 here again. Now I notice the Group A and Group B lists, and it's true I didn't answer. Here's another vote for Group C, because you'll never get useful results by polling DC residents who participate in a private school forum, in terms of anything that could be generalized to a broader population. Here are some of the problems with this poll:
1. How many of us live in California and get in-state tuition for all of the schools in Group A except BU? 2. How many of us live outside California but are concerned enough about tuition to think that out-of-state tuition at some pretty good UC schools is more affordable than the Ivies in Group B? 3. How many of us want to study engineering, which could be done at many of the schools in Group A but, to my knowledge, in Group B only at Columbia's SEAS (i.e. not even in the general liberal arts school of Columbia). Or architecture, which I believe you can major in in a few places in Group B (although not at Harvard or Cooper Union or Brown) while many of the schools in Group A have separate architecture schools. I'm sure there's more, but I need to move on. Hey, if you guys want to go ahead and think your admissions ratio stat is dispositive, go for it! Be my guest, absolutely. Just know that there are a few of us out here who think you're way off base. |