School Choice and Information An Experimental Study on Matching Mechanisms
AbstractWe present an experimental study where we analyze three well- known matching mechanisms - the Boston, the Gale-Shapley, and the Top Trading Cycles mechanisms - in three different informational set- tings. Our experimental results are consistent with the theory, sug- gesting that the TTC mechanism outperforms both the Boston and the Gale-Shapley mechanisms in terms of efficiency and it is as suc- cessful as the Gale-Shapley mechanism regarding the proportion of truthful preference revelation, whereas manipulation is stronger un- der the Boston mechanism. In addition, even though agents are much more likely to revert to truthtelling in lack of information about the others' payooffs - ignorance may be beneficial in this context - , the TTC mechanism results less sensitive to the amount of information that participants hold. These results therefore suggest that the use of the TTC mechanism in practice is more desirable than of the others.
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Bibliographic InfoPaper provided by ISEG - School of Economics and Management, Department of Economics, University of Lisbon in its series Working Papers Department of Economics with number 2006/14.
Date of creation: 2006
Date of revision:
Contact details of provider:
Postal: Department of Economics, ISEG - School of Economics and Management, University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: https://aquila1.iseg.ulisboa.pt/aquila/departamentos/EC
Other versions of this item:
- Pais, Joana & Pintér, Ágnes, 2008. "School choice and information: An experimental study on matching mechanisms," Games and Economic Behavior, Elsevier, vol. 64(1), pages 303-328, September.
- 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.
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-05 (All new papers)
- NEP-EXP-2006-08-05 (Experimental Economics)
- NEP-GTH-2006-08-05 (Game Theory)
- NEP-URE-2006-08-05 (Urban & Real Estate Economics)
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