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Understanding preference formation in a matching market

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  • Romero-Medina, Antonio
  • Mora, Ricardo

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

  • Romero-Medina, Antonio & Mora, Ricardo, 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. 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. Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992. "Two-Sided Matching," Cambridge Books, Cambridge University Press, number 9780521437882, May.
    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. 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.
    5. 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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    Cited by:

    1. Fack, Gabrielle & Grenet, Julien & He, Yinghua, 2015. "Beyond Truth-Telling: Preference Estimation with Centralized School Choice and College Admissions," TSE Working Papers 15-607, Toulouse School of Economics (TSE), revised Sep 2017.
    2. Fack, Gabrielle & Grenet, Julien & He, Yinghua, 2015. "Beyond Truth-Telling: Preference Estimation with Centralized School Choice," CEPR Discussion Papers 10907, C.E.P.R. Discussion Papers.

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