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Understanding preference formation in a matching market

  • Romero-Medina, Antonio
  • Mora, Ricardo

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.

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File URL: http://e-archivo.uc3m.es/bitstream/handle/10016/262/we015919.pdf?sequence=1
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Paper provided by Universidad Carlos III de Madrid. Departamento de Economía in its series UC3M Working papers. Economics with number we015919.

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Date of creation: Dec 2001
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Handle: RePEc:cte:werepe:we015919
Contact details of provider: Web page: http://www.eco.uc3m.es/

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  1. 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.
  2. 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.
  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.
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