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Tag Archives: college admission

babynames_nametag

By Lilli DeBode, guest blogger, senior at Kent Place School

Replicating a study carried out by the Guardian last month, Gawker created a Venn diagram, (see below), that compares the top 25 baby names of 1994 to the 25 most popular names of current Yale students .

While there were only eight boys names that did not make the cutoff for Yale, 12 of the most popular girl’s names were left in the cold. Seven of the top 12 1994 names didn’t make it on Yale’s list.

So what names are Yale admission officers looking for? Rather than the common “Amanda,” “Nicole,” or “Kayla,” Yale plays it old-school; accepting a plethora of “Elizabeths,” “Victorias,” “Alexandras,” and “Katherines” (names that were up in the 70’s or higher on the 1994 list).

There was one name that was on Yale’s “Top 25” list, but was 185th on the 1994 list. Since then, this name has elbowed its way down to first place to win the title: “Most Popular  Baby Name of 2011.” So kudos to all the parents out there who, 18 years ago, had the insight and sagacity to name your daughter “Sophia,” thus putting her on the path leading straight to Yale’s gates.

Is there any way to predict the next holy grail of baby names? Clearly the current popular names aren’t going to cut it 18 years down the road. Trends show that name popularity travels down the socioeconomic ladder. First, upper class parents name their children an uncommon name, and then it works its way down the chain until it eventually becomes the most popular name of the year. Therefore, Yale-worthy names must be ahead of their time whilst keeping it classy. Here are some suggestions from writer, Blake Flannery, on how to unearth a baby name that might just be the next “Sophia.”

  1. Use a last name as your baby’s first.
  2. Use names that were popular when your grandparents or greatgrandparents were named.
  3. Look for less popular names from the Bible.

 

original

Sources and Resources: To read Gawker’s analysis of their Venn diagram, click here. For more incredibly interesting information about the economics of baby naming and how to give your baby a classy name, click here.

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Joining Harvard and the multitudes they hoped would follow, in 2006, Princeton eliminated its early admissions option. Now, with Harvard and the University of Virginia, Princeton has said it will return to early admissions because few followed.

The Economic Lesson

I wonder whether we can explain both decisions through game theory. First, let’s call the market structure within which Ivy League schools compete, an oligopoly. With few market participants on the supply side, a “price making” capability (admissions standards), and difficult entry and exit (colleges neither leave nor enter the Ivy League), schools typically wield considerable power.

Also, as oligopolies, they engage in game theory. Here is how it works. The two firms (or schools) know that, to some extent, they are interdependent; one school’s decisions affect the other school. Consequently, each one tries to predict what the other will do.

The result is a behavioral matrix called the prisoners’ dilemma. Imagine a square divided into quarters. For example, above the left quarter is Princeton/no early admission. Above the right quarter is Princeton/early admission. To the left of the upper quarter is Penn/no early admission. To the left of the lower quarter is Penn/early admission.

You can fill in the matrix. Where Princeton/no early admission and Penn/no early admission converge, we could say that equal numbers of students apply. However, what happens when they converge with one school not doing it and the other proceeding? What if neither proceeds?

As you can see here, the prisoners’ dilemma conveys the pros and cons of unilateral behavior and of collusion. The problem, as Princeton discovered, is that market participants cannot guarantee competitors’ behavior.

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