Rankings without U.S. News: A revealed preference approach to evaluating law schools

Since their inception in 1989, the U.S. News & World Report law school rankings have influenced how schools, students, and the legal profession itself think about legal education. In the Fall of 2022, however, several of the most selective law schools formally withdrew from the annual rankings. In so doing, these schools laid bare longstanding criticisms of the rankings' questionable criteria and opaque methodology. While the long‐term effect of this boycott remains to be seen, school rankings are likely here to stay. In this Article we design a more informative approach to rankings, based on actual decisions students make. Using individual‐level data provided by the Law School Admissions Council (LSAC), we analyze the universe of applicants to U.S. law schools for the period 1988 through 2017. In so doing, we are the first to create a revealed preference ranking based solely on where applicants matriculate given offers of admission. Our approach relies neither on potentially faulty data collection from schools nor arbitrary decisions about which factors to emphasize in rankings, thereby minimizing the scope for manipulation. It also allows us to quantify the magnitude of differences in preferences among schools and to test their statistical significance. Matriculants reveal a strong preference for a handful of the most selective schools; outside of the top tier, however, matriculants do not appear to draw meaningful distinctions between schools ranked adjacently or even near to each other. While existing school rankings sow more confusion than clarity, our analysis provides a rigorous and transparent alternative, and a blueprint for redesigning school rankings.