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College Admissions and the Role of Information: An Experimental Study

  • Joana Pais
  • Agnes Pinter
  • Robert F. Veszteg

We analyze two well-known matching mechanisms\the Gale-Shapley, and the Top Trading Cycles (TTC) mechanisms\in theexperimental 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.

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Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0707.

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Date of creation: Feb 2008
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Handle: RePEc:dpr:wpaper:0707
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