@prezbucky
Oxford received 14,080 applications. 13,600 applied to both. 480 applicants applied to Oxford only.
It’s clear that Oxford does not concern itself with yield and admit rate just like Emory C, as they could easily fill the class with more of the Oxford only applicants as they only need 400 students. But they rely on the Emory C reject/waitlist students, and hope they don’t go to another school. For these particular students to matriculate to Oxford, Emory’s brand and the financial aid package must be good enough to persuade them to go to Oxford.