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College admissions and the role of information : an experimental study

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  • Joana Pais

    ()

  • Agnes Pinter

    ()

  • Robert F. Veszteg

    ()

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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Bibliographic 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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Keywords: Experiments; Information; Matching;

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  1. 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.
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  19. Atila Abdulkadiroğlu & Parag A. Pathak & Alvin E. Roth & Tayfun S�nmez, 2005. "The Boston Public School Match," American Economic Review, American Economic Association, vol. 95(2), pages 368-371, May.
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Cited by:
  1. Braun, Sebastian & Dwenger, Nadja & Kübler, Dorothea & Westkamp, Alexander, 2012. "Implementing quotas in university admissions: An experimental analysis," Discussion Papers, Research Unit: Market Behavior SP II 2012-201, Social Science Research Center Berlin (WZB).
  2. 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.
  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. Guillen, Pablo & Hakimov, Rustamdjan, 2014. "Monkey see, monkey do: Truth-telling in matching algorithms and the manipulation of others," Discussion Papers, Research Unit: Market Behavior SP II 2014-202, Social Science Research Center Berlin (WZB).

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