Applications to elite US colleges have more than doubled over the past 20 years, with little change in the number of available seats. We examine how this increased competition has affected the admissions advantage that legacies and athletes (LA) receive. Using data on Harvard applications over...

We show that data on subjective expectations, especially on outcomes from counterfactual choices and choice probabilities, are a powerful tool in recovering ex ante treatment effects as well as preferences for different treatments. In this paper we focus on the choice of occupation, and use...

The choice of a college major plays a critical role in determining the future earnings of college graduates. Students make their college major decisions in part due to the future earnings streams associated with the different majors. We survey students about what their expected earnings would be...