<p>@Ctesiphon (in #89): You – not I – introduced the concepts of rationality and consideration; I never suggested such things applied (in #84). While I strongly believe they should always be important decision-metrics – decency and long-term prudence are obviously critical to any organization’s enduring success – private entities/institutions (educational, or any other, for that matter) have the RIGHT to operate (within the law) principally/exclusively for the benefit of their “stakeholders.” Is this unfailingly wise or public spirited? It is not. However – and in fields far beyond higher education – it is extremely common. As long as our most-selective private LACs and National Research Universities attract near 20X the number of applicants (most, exceedingly qualified and entirely deserving of admission) as they have “freshman seats,” normal competitive forces are unlikely to ameliorate such behaviors. </p>