We develop a decentralized Bayesian model of college admissions with two ranked colleges, heterogeneous students and … two realistic match frictions: students find it costly to apply to college, and college evaluations of their applications … is uncertain. Students thus face a portfolio choice problem in their application decision, while colleges choose …

abroad. The research has been conducted through a questionnaire distributed to the students from the fourth year of … acquired. The obtained results of the model are presented and discussed. This model will serve both students (for the purpose … purpose of taking adequate next steps, i.e. making better decisions that will create value for students). …