Probably also worth mentioning that there are many more HLS alums on the Supreme Court than YLS grads (5+ to 2). Thomas shouldn't even count on Yale's side, since he doesn't think the degree is worth the paper it's printed on. If you plan to be a Supreme Court Justice, it's probably best to go to Harvard. Particularly if you want to be a Chief Justice. I can't name a Chief Justice from YLS.
YLS Grad:Survivor ChampionHLS Grad:I love New York reject.The difference is clear.
Risk aversion is rational behavior -- it's a natural consequence of diminishing marginal returns, which is very rational.Put more concretely --If the "utility gap" (i.e. how satisfied you'll be) between the bottom and the middle of the class is larger than the gap between the middle and the top, and if you have no idea where in Harvard's class you'll be, then it's rational to pick Yale.
Yeah -- the parameters might not hold. For example, those looking for SCOTUS clerkships need to be at the top and if they're not there then middle vs. bottom doesn't really matter. Or some students (say with vastly below LSAT/GPA) might well suspect they'd be very near the bottom of Harvard's class, in which case they don't need to invoke risk aversion to choose Yale. Etc.