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Preference intensities and risk aversion in school choice: a laboratory experiment

  • Flip Klijn

    ()

  • Joana Pais

    ()

  • Marc Vorsatz

    ()

We experimentally investigate in the laboratory prominent mechanisms that are employed in school choice programs to assign students to public schools and study how individual behavior is influenced by preference intensities and risk aversion. Our main results show that (a) the Gale–Shapley mechanism is more robust to changes in cardinal preferences than the Boston mechanism independently of whether individuals can submit a complete or only a restricted ranking of the schools and (b) subjects with a higher degree of risk aversion are more likely to play “safer” strategies under the Gale–Shapley but not under the Boston mechanism. Both results have important implications for enrollment planning and the possible protection risk averse agents seek. Copyright Economic Science Association 2013

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File URL: http://hdl.handle.net/10.1007/s10683-012-9329-5
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Article provided by Springer in its journal Experimental Economics.

Volume (Year): 16 (2013)
Issue (Month): 1 (March)
Pages: 1-22

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Handle: RePEc:kap:expeco:v:16:y:2013:i:1:p:1-22
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  1. Atila Abdulkadiroglu & Tayfun Smez, 2003. "School Choice: A Mechanism Design Approach," Discussion Papers 0203-18, Columbia University, Department of Economics.
  2. Pathak, Parag A. & Abdulkadiroglu, Atila & Roth, Alvin, 2005. "The New York City High School Match," Scholarly Articles 2562765, Harvard University Department of Economics.
  3. Frank Heinemann & Rosemarie Nagel & Peter Ockenfels, 2004. "Measuring strategic uncertainty in coordination games," Economics Working Papers 804, Department of Economics and Business, Universitat Pompeu Fabra.
  4. Barbera, S. & Dutta, B., 1991. "Protective Behaviour in Matching Models," UFAE and IAE Working Papers 157.91, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  6. Haeringer, Guillaume & Klijn, Flip, 2009. "Constrained school choice," Journal of Economic Theory, Elsevier, vol. 144(5), pages 1921-1947, September.
  7. Yan Chen & Tayfun Sönmez, 2004. "School Choice: An Experimental Study," Boston College Working Papers in Economics 622, Boston College Department of Economics.
  8. 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.
  9. Barbera, Salvador & Dutta, Bhaskar, 1982. "Implementability via protective equilibria," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 49-65, June.
  10. Atila Abdulkadiroglu & Tayfun Sönmez, 2003. "School Choice: A Mechanism Design Approach," American Economic Review, American Economic Association, vol. 93(3), pages 729-747, June.
  11. 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.
  12. Guillaume Haeringer & Caterina Calsamiglia & Flip Klijn, 2009. "Constrained School Choice: An Experimental Study," Working Papers 2009.29, Fondazione Eni Enrico Mattei.
  13. Abdulkadiroglu, Atila & Pathak, Parag Abishek & Roth, Alvin E., 2009. "Strategy-Proofness Versus Efficiency in Matching with Indifferences: Redesigning the NYC High School Match," Scholarly Articles 11077572, Harvard University Department of Economics.
  14. Ergin, Haluk & Sonmez, Tayfun, 2006. "Games of school choice under the Boston mechanism," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 215-237, January.
  15. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
  16. Atila Abdulkadiroglu & Yeon-Koo Che & Yosuke Yasuda, 2011. "Resolving Conflicting Preferences in School Choice: The "Boston Mechanism" Reconsidered," American Economic Review, American Economic Association, vol. 101(1), pages 399-410, February.
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