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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 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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Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0707.

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Date of creation: Feb 2008
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Handle: RePEc:dpr:wpaper:0707

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  1. Ehlers, Lars, 2004. "In search of advice for participants in matching markets which use the deferred-acceptance algorithm," Games and Economic Behavior, Elsevier, vol. 48(2), pages 249-270, August.
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  16. 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.
  17. Ernan Haruvy & Alvin E. Roth & M. Utku Unver, 2004. "The Dynamics of Law Clerk Matching: An Experimental and Computational Investigation of Proposals for Reform of the Market," Experimental 0404001, EconWPA.
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Cited by:
  1. 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.
  2. Sebastian Braun & Nadja Dwenger & Dorothea Kübler & Alexander Westkamp, 2011. "Implementing quotas in university admissions: An experimental analysis," Working Papers implementing_quotas_in_un, Max Planck Institute for Tax Law and Public Finance.
  3. 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.
  4. 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.

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