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Understanding preference formation in a matching market

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  • Mora, Ricardo
  • Romero-Medina, Antonio

Abstract

We analyze the role of formal and informal information gathering in students' preference formation. We analyzed this role in the college admission process using Spanish individual data. We introduce students' risk aversion and information costs on the standard college admission problem. Then, we model the students' list formation as a two-stage procedure. In first stage, students must decide whether they gather information or not about a college. In the second stage, they give their preferred list to the matching office. The observed changes in preferences suggest that information gathering is important in the last two months of the process and that students with less ex-ante information are more affected by these changes.

Suggested Citation

  • Mora, Ricardo & Romero-Medina, Antonio, 2001. "Understanding preference formation in a matching market," UC3M Working papers. Economics we015919, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:we015919
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    References listed on IDEAS

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    1. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541, Elsevier.
    2. Antonio Romero-Medina, 1998. "Implementation of stable solutions in a restricted matching market," Review of Economic Design, Springer;Society for Economic Design, vol. 3(2), pages 137-147.
    3. Roth, Alvin E., 1985. "The college admissions problem is not equivalent to the marriage problem," Journal of Economic Theory, Elsevier, vol. 36(2), pages 277-288, August.
    4. Roth, Alvin E & Vande Vate, John H, 1991. "Incentives in Two-Sided Matching with Random Stable Mechanisms," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(1), pages 31-44, January.
    5. Alvin E. Roth & Uriel G. Rothblum, 1999. "Truncation Strategies in Matching Markets--In Search of Advice for Participants," Econometrica, Econometric Society, vol. 67(1), pages 21-44, January.
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    Cited by:

    1. Thilo Klein & Robert Aue & Josue Ortega, 2020. "School choice with independent versus consolidated districts," Papers 2006.13209, arXiv.org, revised Jul 2024.
    2. Gabrielle Fack & Julien Grenet & Yinghua He, 2019. "Beyond Truth-Telling: Preference Estimation with Centralized School Choice and College Admissions," American Economic Review, American Economic Association, vol. 109(4), pages 1486-1529, April.
    3. Klein, Thilo & Aue, Robert & Ortega, Josué, 2024. "School choice with independent versus consolidated districts," Games and Economic Behavior, Elsevier, vol. 147(C), pages 170-205.
    4. Aue, Robert & Klein, Thilo & Ortega, Josué, 2020. "What happens when separate and unequal school districts merge?," ZEW Discussion Papers 20-032, ZEW - Leibniz Centre for European Economic Research.

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