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College Admissions And The Role Of Information: An Experimental Study

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  • Joana Pais
  • Ágnes Pintér
  • Róbert F. Veszteg

Abstract

We analyze two well-known matching mechanisms\the Gale-Shapley, and the Top Trading Cycles (TTC) mechanisms\in theexperimental lab in three different informational settings, and study the role of information in individual decision making. Our results suggest that\in line with the theory\in the college admissions model the Gale-Shapley mechanism outperforms the TTC mechanisms in terms of efficiency and stability, and it is as successful as the TTC mechanism regarding the proportion of truthful preference revelation. In addition, we find that information has an important effect on truthful behavior and stability. Nevertheless, regarding efficiency, the Gale-Shapley mechanism is less sensitive to the amount of information participants hold.

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File URL: http://hdl.handle.net/10.1111/j.1468-2354.2011.00647.x
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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 52 (2011)
Issue (Month): 3 (08)
Pages: 713-737

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Handle: RePEc:ier:iecrev:v:52:y:2011:i:3:p:713-737

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Cited by:
  1. Kübler, Dorothea & Braun, Sebastian & Dwenger, Nadja & Westkamp, Alexander, 2012. "Implementing quotas in university admissions: An experimental analysis," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62048, Verein für Socialpolitik / German Economic Association.
  2. Guillén, Pablo & Hakimov, Rustamdjan, 2014. "Monkey see, monkey do: truth-telling in matching algorithms and the manipulation of others," Working Papers 2014-01, University of Sydney, School of Economics.
  3. Guillén, Pablo & Hing, Alexander, 2013. "Lying through Their Teeth: Third Party Advice and Truth Telling in a Strategy Proof Mechanism," Working Papers 2013-11, University of Sydney, School of Economics.
  4. Christer Andersson & Ola Andersson & Tommy Andersson, 2013. "Sealed bid auctions versus ascending bid auctions: an experimental study," Review of Economic Design, Springer, vol. 17(1), pages 1-16, March.

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