Random Matching in the College Admissions Problem
In the college admissions problem, we consider the incentives confronting agents who face the prospect of being matched by a random stable mechanism. We provide a fairly complete characterization of ordinal equilbria. Namely, every ordinal equilib- rium yields a degenerate probability distribution. Furthermore, individual rationality is a necessary and sufficient condition for an equilibrium outcome, while stability is guaranteed in ordinal equilibrium where firms act straightforwardly. Finally, we re- late equilibrium behavior in random and in deterministic mechanisms.
|Date of creation:||2006|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, ISEG - School of Economics and Management, University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL|
Web page: https://aquila1.iseg.ulisboa.pt/aquila/departamentos/EC
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05001, Concordia University, Department of Economics.
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- Joana Pais, 2006.
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Working Papers Department of Economics
2006/12, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
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- Atila Abdulkadiroglu & Tayfun Sönmez, 2003. "School Choice: A Mechanism Design Approach," American Economic Review, American Economic Association, vol. 93(3), pages 729-747, June.
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- Herve Moulin, 2004. "Fair Division and Collective Welfare," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633116, December.
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- Moulin, HervÈ, 1997. "Procedural cum Endstate Justice: An Implementation Viewpoint," Working Papers 97-17, Duke University, Department of Economics.
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