A pair of papers study the Common App, how it is used disproportionally by selective universities and liberal arts colleges, to which applications have increased over time. The papers focus on how this has increased student choice.
There's a parallel set of arguments made elsewhere, particularly in connection with application to medical residencies, that too many applications increase congestion in the admissions process.
The Common Application and Student Choice, By Brian Knight and Nathan Schiff, AEA Papers and Proceedings 2021, 111: 460–464, https://doi.org/10.1257/pandp.20211042
And here's a longer companion paper:
Reducing Frictions in College Admissions: Evidence from the Common Application by Brian Knight and Nathan Schiff, April 17, 2020
Abstract: College admissions in the U.S. is decentralized, creating frictions that limit student choice. We study the Common Application (CA) platform, under which students submit a single application to member schools, potentially reducing frictions and increasing student choice. The CA increases the number of applications received by schools, reflecting a reduction in frictions, and reduces the yield on accepted students, reflecting increased choice. The CA increases out-of-state enrollment, especially from other CA states, consistent with network effects. CA entry changes the composition of students, with evidence of more racial diversity, more high-income students, and imprecise evidence of increases in SAT scores.
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