I created this ratio on mathacle back in 2010. At that time, I was merely trying to measure how strong Stanford was compared with Harvard, as at that time my son was a undergraduate at Stanford. The ratio measures the perception, and may only be meaningful when the numerical numbers are large enough. Some sensitivity analysis needs to be done. So, I stopped measuring all schools except HYPSM through the years.
The ratio can offset some manipulations, and it is better than just looking at yield and admit rate. I have been hoping someone to pick it up and study it. In the past, only some Stanford students/people had interests in this. The Wikipedia has a doc on it.
It was for Stanford, but not anymore. Stanford has achieved to a level that I don’t need to measure and compare.