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Journal Articles
Abstract:
This paper analyzes a college applicant's decision to retake the SAT. Nationwide, roughly half of college applicant take the test more than once; among applicants to selective institutions, the frequency of retaking is significantly higher. Our analysis makes use of data on applicants to three selective universities and a numerical simulation in which the process of receiving draws from a distribution of possible test scores is likened to an optimal search problem. The analysis shows that the most common test score ranking policy, which focuses on the highest of all submitted scores, provides large incentives to retake the test, since applicants always expect to receive positive benefits upon retaking. Current policy places certain applicants at a disadvantage - those with high costs of taking the test, low values attached to college admission, or "pessimistic" prior beliefs regarding their own ability. Our data suggest that these disadvantaged applicants are disproportionately likely to come from low- income and African-American families.