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College admissions and the role of information : an experimental study

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Author Info
Joana Pais ()
Agnes Pinter ()
Robert F. Veszteg ()

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Abstract

We analyze two well-known matching mechanisms—the Gale-Shapley, and the Top Trading Cycles (TTC) mechanisms—in the experimental 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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Publisher Info
Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we080302.

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Date of creation: Jan 2008
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Handle: RePEc:cte:werepe:we080302

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Related research
Keywords: Experiments Information Matching

Other versions of this item:

Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Joana Pais & Agnes Pinter, 2007. "School Choice and Information. An Experimental Study on Matching Mechanisms," Labsi Experimental Economics Laboratory University of Siena 018, University of Siena. [Downloadable!]
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  2. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March. [Downloadable!] (restricted)
  3. Yan Chen & Tayfun Sonmez, 2002. "Improving Efficiency of On-Campus Housing: An Experimental Study," American Economic Review, American Economic Association, vol. 92(5), pages 1669-1686, December. [Downloadable!] (restricted)
  4. Roth, Alvin E., 1989. "Two-sided matching with incomplete information about others' preferences," Games and Economic Behavior, Elsevier, vol. 1(2), pages 191-209, June. [Downloadable!] (restricted)
  5. Atila Abdulkadiroglu & Tayfun Smez, 2003. "School Choice: A Mechanism Design Approach," Discussion Papers 0203-18, Columbia University, Department of Economics. [Downloadable!]
  6. Chen, Yan & Sonmez, Tayfun, 2006. "School choice: an experimental study," Journal of Economic Theory, Elsevier, vol. 127(1), pages 202-231, March. [Downloadable!] (restricted)
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  7. EHLERS, Lars, 2003. "In Search of Advice for Physicians in Entry-Level Medical Markets," Cahiers de recherche 13-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ. [Downloadable!]
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  8. John H. Kagel & Alvin E. Roth, 2000. "The Dynamics Of Reorganization In Matching Markets: A Laboratory Experiment Motivated By A Natural Experiment," The Quarterly Journal of Economics, MIT Press, vol. 115(1), pages 201-235, February. [Downloadable!] (restricted)
  9. Atila Abdulkadiroglu & Tayfun Sonmez, 2003. "School Choice: A Mechanism Design Approach," American Economic Review, American Economic Association, vol. 93(3), pages 729-747, June. [Downloadable!] (restricted)
  10. Atila Abdulkadiroglu & Parag A. Pathak & Alvin E. Roth & Tayfun Sonmez, 2005. "The Boston Public School Match," American Economic Review, American Economic Association, vol. 95(2), pages 368-371, May. [Downloadable!] (restricted)
  11. Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December. [Downloadable!] (restricted)
  12. Olson, Mark & Porter, David, 1994. "An Experimental Examination into the Design of Decentralized Methods to Solve the Assignment Problem with and without Money," Economic Theory, Springer, vol. 4(1), pages 11-40, January.
  13. Ergin, Haluk & Sonmez, Tayfun, 2006. "Games of school choice under the Boston mechanism," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 215-237, January. [Downloadable!] (restricted)
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  14. Nalbantian, Haig R & Schotter, Andrew, 1995. "Matching and Efficiency in the Baseball Free-Agent System: An Experimental Examination," Journal of Labor Economics, University of Chicago Press, vol. 13(1), pages 1-31, January. [Downloadable!] (restricted)
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  15. Ehlers, Lars & Masso, Jordi, 2007. "Incomplete information and singleton cores in matching markets," Journal of Economic Theory, Elsevier, vol. 136(1), pages 587-600, September. [Downloadable!] (restricted)
  16. Haruvy, Ernan & Roth, Alvin E. & Unver, M. Utku, 2006. "The dynamics of law clerk matching: An experimental and computational investigation of proposals for reform of the market," Journal of Economic Dynamics and Control, Elsevier, vol. 30(3), pages 457-486, March. [Downloadable!] (restricted)
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