Are the kids’ and parents’ the reason for assymetric information? Nope. It is emblematic of all the problems in college admissions. In an industry with assymetric information, that’s the prelude to “market failure.”
So the “top schools” disclose differential stats for hooked vs unhooked? That’s great if true! And no, not once I have discussed the emotional impact of this, but it obviously ain’t great if you get multiple rejects from schools that are part of an athletic league on the same day.
My consistent points here are coordination of any type and asymmetry of information (meaning it is exceedingly difficult for consumers (i.e., the kids) to understand things over and beyond what the schools publish. And there is a HUGE amount of disparate information out there. That’s why I love CC, as it really helps put it all together. But even on a great website like this, you have to be a regular to understand the enormous complexities. I STILL don’t understand ED, EDII, REA, etc for starters, even though folks here have patiently explained it (to me and others).
Outright gaming of the system is one thing, but does anyone really believe that, outside of places like CC where folks are extremely well-informed, that most parents and kids understand the complexities? I didn’t until I started hanging out here. I would have NO idea about all the issues we are discussing. However, many of us, as busy as we are, have the time (or make the time) to do so. There are a vast number of parents and kids that don’t. I honestly would have never understood about the impact (not small) on hooked vs. unhooked stats “but for” the info I’ve gleaned here.
Again, I simply ask WHY do the Ivies coordinate on RD announcements? IMHO, the only plausible reason is to enhance the “Ivy League” brand.
Don’t get me wrong. The Ivies are amazing schools, but this is, to me, a clear (and apparently unique) case where this is a marketing ploy in an industry that I would clearly characterize as one with assymetric information. I just cannot understand why it is necessary.
What’s the solution? The easiest one is to announce decisions independently. These schools are great without mickey mouse stuff like this for rejected students. What possible purpose is served except to benefit several independent universities and the apparent aura of the “Ivy League”?
For admitted students, that apparent agreement to announce RD results on the same day and having the same deadline (I think) to respond for admitted students does indeed have a negative effect on students who are accepted by limiting the time to decide. Admissions decisions are independent to the schools, and the time to respond should be equally independent.
That’s the essence of competition, isn’t it? Consider this: If you went to several independent banks to get a home mortgage and they all said we will inform you of our decision to give you a mortgage on the exact date. And, if you get a mortgage from one or more of the banks, you have the same number of days to decide for all these independent banks.
Would you find that ok? I absolutely wouldn’t.