College admissions and the role of information : an experimental study
We analyze two well-known matching mechanisms—the Gale-Shapley, and the Top Trading Cycles (TTC) mechanisms—in the experimental lab in three different informational settings, and study the role of information in individual decision making. Our results suggest that—in line with the theory—in the college admissions model the Gale-Shapley mechanism outperforms the TTC mechanisms in terms of efficiency and stability, and it is as successful as the TTC mechanism regarding the proportion of truthful preference revelation. In addition, we find that information has an important effect on truthful behavior and stability. Nevertheless, regarding efficiency, the Gale-Shapley mechanism is less sensitive to the amount of information participants hold.
|Date of creation:||Jan 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +34-91 6249594
Fax: +34-91 6249329
Web page: http://www.eco.uc3m.es
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yan Chen & Tayfun S�nmez, 2002. "Improving Efficiency of On-Campus Housing: An Experimental Study," American Economic Review, American Economic Association, vol. 92(5), pages 1669-1686, December.
- John H. Kagel & Alvin E. Roth, 2000. "The Dynamics Of Reorganization In Matching Markets: A Laboratory Experiment Motivated By A Natural Experiment," The Quarterly Journal of Economics, MIT Press, vol. 115(1), pages 201-235, February.
- Roth, Alvin E., 1982. "Incentive compatibility in a market with indivisible goods," Economics Letters, Elsevier, vol. 9(2), pages 127-132.
- M. Utku Ünver, 2005.
"On the survival of some unstable two-sided matching mechanisms,"
International Journal of Game Theory,
Springer, vol. 33(2), pages 239-254, 06.
- M. Utku Ünver, 2001. "On the Survival of Some Unstable Two-Sided Matching Mechanisms," Experimental 0111001, EconWPA, revised 01 Nov 2003.
- Ehlers, Lars & Masso, Jordi, 2007. "Incomplete information and singleton cores in matching markets," Journal of Economic Theory, Elsevier, vol. 136(1), pages 587-600, September.
- 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.
- Chen, Yan & Sonmez, Tayfun, 2004. "An experimental study of house allocation mechanisms," Economics Letters, Elsevier, vol. 83(1), pages 137-140, April.
- EHLERS, Lars, 2003.
"In Search of Advice for Physicians in Entry-Level Medical Markets,"
Cahiers de recherche
13-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- EHLERS, Lars, 2003. "In Search of Advice for Physicians in Entry-Level Medical Markets," Cahiers de recherche 2003-15, Universite de Montreal, Departement de sciences economiques.
- Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
- Haluk Ergin & Tayfun Sönmez, 2005.
"Games of School Choice under the Boston Mechanism,"
Boston College Working Papers in Economics
619, Boston College Department of Economics.
- C. Nicholas McKinney & Muriel Niederle & Alvin E. Roth, 2005.
"The Collapse of a Medical Labor Clearinghouse (and Why Such Failures Are Rare),"
American Economic Review,
American Economic Association, vol. 95(3), pages 878-889, June.
- McKinney, C. Nicholas & Niederle, Muriel & Roth, Alvin, 2005. "The collapse of a medical labor clearinghouse (and why such failures are rare)," Scholarly Articles 2570404, Harvard University Department of Economics.
- Roth, Alvin E, 1984. "The Evolution of the Labor Market for Medical Interns and Residents: A Case Study in Game Theory," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 991-1016, December.
- Barberà, S. & Dutta, B., 1995.
"Protective behavior in matching models,"
Games and Economic Behavior,
Elsevier, vol. 8(2), pages 281-296.
- 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.
- Chen, Yan & Sonmez, Tayfun, 2006.
"School choice: an experimental study,"
Journal of Economic Theory,
Elsevier, vol. 127(1), pages 202-231, March.
- Joana Pais & Ágnes Pintér, 2006.
"School Choice and Information An Experimental Study on Matching Mechanisms,"
Working Papers Department of Economics
2006/14, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
- 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.
- Joana Pais & Agnes Pinter, 2007. "School Choice and Information. An Experimental Study on Matching Mechanisms," Labsi Experimental Economics Laboratory University of Siena 018, University of Siena.
- Ernan Haruvy & Alvin E. Roth & M. Utku Unver, 2004.
"The Dynamics of Law Clerk Matching: An Experimental and Computational Investigation of Proposals for Reform of the Market,"
- Haruvy, Ernan & Roth, Alvin E. & Unver, M. Utku, 2006. "The dynamics of law clerk matching: An experimental and computational investigation of proposals for reform of the market," Journal of Economic Dynamics and Control, Elsevier, vol. 30(3), pages 457-486, March.
- repec:cup:cbooks:9780521437882 is not listed on IDEAS
- Atila Abdulkadiroglu & Tayfun Sönmez, 2003. "School Choice: A Mechanism Design Approach," American Economic Review, American Economic Association, vol. 93(3), pages 729-747, June.
- Roth, Alvin E., 1989. "Two-sided matching with incomplete information about others' preferences," Games and Economic Behavior, Elsevier, vol. 1(2), pages 191-209, June.
- Nalbantian, Haig & Schotter, Andrew & Rogoza, Ken, 1990.
"Matching And Efficiency In The Baseball Free-Agent System: An Experimental Examination,"
90-05, C.V. Starr Center for Applied Economics, New York University.
- Nalbantian, Haig R & Schotter, Andrew, 1995. "Matching and Efficiency in the Baseball Free-Agent System: An Experimental Examination," Journal of Labor Economics, University of Chicago Press, vol. 13(1), pages 1-31, January.
- Roth, Alvin E. & Sotomayor, Marilda, 1992.
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
- Olson, Mark & Porter, David, 1994. "An Experimental Examination into the Design of Decentralized Methods to Solve the Assignment Problem with and without Money," Economic Theory, Springer, vol. 4(1), pages 11-40, January.
- Ehlers, Lars, 2004. "In search of advice for participants in matching markets which use the deferred-acceptance algorithm," Games and Economic Behavior, Elsevier, vol. 48(2), pages 249-270, August.
When requesting a correction, please mention this item's handle: RePEc:cte:werepe:we080302. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.