The paper presents the findings of a study of the decision-making process which precedes the choice of a university in Greece. Specifically, the degree of rationality exhibited by prospective students is assessed in an attempt to provide a test for the economic approach to the explanation of human behaviour. Information search is used as an indication of rationality and measured through a survey conducted among 220 university students in the academic year 2003/2004. The findings provide weak support for the rationality postulate in that they indicate that more than 40% of respondents could not be classified as information seekers. Logistic regression analysis was used in order to identify characteristics associated with the propensity to engage in information search: high socioeconomic status students, students who perceived the decision as important, and students who had acquired information prior to the choice of a university were found to be more likely to engage in information search. The paper draws attention to the limitations of the economic rational man model of human behaviour and discusses the implications of the findings for the promotional strategy of universities.