Blair, Peter Q.; Smetters, Kent A. - National Bureau of Economic Research - 2021
While college enrollment has more-than doubled since 1970, elite colleges have barely increased supply, instead …, consistent with experience in elite [non-elite] colleges. A calibrated version of the model closely replicates the pattern in the … data of declining admit rates at elite colleges while counter-factual simulations without prestige fail. Prestige …