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Graduate admission with financial support

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  • Afacan, Mustafa Oǧuz

Abstract

We formulate a graduate admission problem, which features different financial support options, in a matching with contracts setting. We introduce an algorithm, called “Minimum-Need Adjusted Cumulative Offer Process” (MCOP). Under certain mild assumptions on students’ preferences, MCOP is stable, fair, strategy-proof, and respects improvements. Moreover, it limitedly respects departments’ minimum number of teaching and research assistant (TA/RA) needs in the sense that no other stable mechanism honors those needs more than MCOP. It is also efficient within the class of stable mechanisms that limitedly respect the TA/RA needs. Lastly, we offer an axiomatic characterization: A mechanism is stable and strategy-proof, and limitedly respects the TA/RA needs if and only if it is MCOP.

Suggested Citation

  • Afacan, Mustafa Oǧuz, 2020. "Graduate admission with financial support," Journal of Mathematical Economics, Elsevier, vol. 87(C), pages 114-127.
    • Handle: RePEc:eee:mateco:v:87:y:2020:i:c:p:114-127
    DOI: 10.1016/j.jmateco.2020.01.006
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    References listed on IDEAS

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    2. Eun Jeong Heo, 2023. "Financial aid in college admissions: need-based versus merit-based," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 60(1), pages 265-297, January.

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