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A lot of people posting on CC seem to think that prestige is illusory; there is contempt evident in many of the posts about applying to prestigious places. But why? The places that have prestige are at great pains to maintain their reputations with excellent teachers and excellent research. The people who go are not necessarily chasing prestige. They might well be chasing academic excellence.
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Of course; you're quite correct. But the thing is, they don't word it as "can you tell me which schools are excellent / excellent in XYZ field?" They word it as "can you tell me which of these schools are most prestigious?"