College Admissions under Early Decision
AbstractIn this paper, we model college admissions under early decision in a many-to-one matching framework with two periods. We show that there exists no stable matching system, involving an early decision matching rule and a regular decision matching rule, which is nonmanipulable via early decision quotas by colleges or via early decision preferences by colleges or students. We then analyze the Nash equilibria of the game, in which the preferences of colleges and students in each period are common knowledge and every college determines a quota for the early decision period given its total capacity for the two periods. Under college-optimal and student-optimal matching systems, we show that a pure strategy equilibrium may not exist. However, when colleges or students have common preferences over the other set of agents, 'terminating early decision program' becomes a weakly dominant strategy for each college if every student, choosing to act early, always applies early to his or her top choice college.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 1906.
Date of creation: 25 Jan 2007
Date of revision:
Many-to-one matching; college admissions; early decision;
Other versions of this item:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-03-03 (All new papers)
- NEP-EDU-2007-03-03 (Education)
- NEP-GTH-2007-03-03 (Game Theory)
- NEP-MIC-2007-03-03 (Microeconomics)
- NEP-SOG-2007-03-03 (Sociology of Economics)
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