David Lesesne, Dean of Admissions at Sewanee, a Tennessee liberal arts college, said that students have become less authentic to themselves by trying to be what colleges want, but colleges have done the same. Schools are looking to draw more applicants and students are looking to gain acceptance. As those numbers grow I think that has caused both sides of the equation to lose a little focus on what should be most important: the match.

Do the applicants or the colleges have private information? Give an example of such private information. Does this market have an adverse selection problem?