<p>Part of the allure of an elite college is the myth that ad com’s at such places have selected out potential future leaders. An admission lottery, even at 10%, will do away with the myth, and such colleges will no longer be “elite”. </p>
<p>Furthermore, if you do your math, you will conclude that a lottery will increase the total number of applicants, perhaps to a number that will incapacitate the ad com.</p>