1 / 9

School Choice and Information: An Experimental Study on Matching Mechanisms

School Choice and Information: An Experimental Study on Matching Mechanisms. Joana Pais (ISEG) and Ágnes Pintér (Universidad Carlos III de Madrid). Main objectives. Analyze the performance of three well-known matching mechanisms regarding strategy-proofness , efficiency , and stability ;

esben
Download Presentation

School Choice and Information: An Experimental Study on Matching Mechanisms

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. School Choice and Information: An Experimental Study on Matching Mechanisms Joana Pais (ISEG) and Ágnes Pintér (Universidad Carlos III de Madrid)

  2. Main objectives • Analyze the performance of three well-known matching mechanisms regarding strategy-proofness,efficiency, and stability; • Examine the role of information in the decision making in these situations: • Does the amount of information participants hold affect the performance of the mechanisms? How?

  3. Motivation • Matching: pervasive phenomenon arising both in social and economic situations • Examples: • Assignment of civil servants to positions • Students’ admission to schools • Some entry-level labor markets • Assignment of donated organs to patients • Rarely exists complete information

  4. Two-sided matching markets • Agents belong to one of two disjoint sets (e.g. teachers and schools); • Each agent has preferences over the other side of the market and the prospect of being unmatched; • Matching problem: to assign teachers to schools. • Highly valued properties of matching mechanisms: • Stability: no pair of agents who are not matched together would rather prefer to be so matched. • Strategy-proofness: truth is dominant strategy • Pareto efficiency

  5. The mechanisms and properties

  6. Experimental design • School choice model: • 5 teachers to fill 5 vacancies across 3 schools • Teachers: strict preferences over schools; Schools: strict preferences (exogenous) over teachers and fixed capacity • 3x3 design: for each mechanism three different info setting (zero-, partial- or full-information); • Symmetric payoffs (3, 9 or 15 euro), but not necessarily symmetric induced preferences – average payoffs were around 13 euro. • Schools are NOT strategic agents!

  7. Strategy-proofness, efficiency, and stability

  8. Results • Across mechanims: • Truthtelling: B0 = GS0 < TTC0; B1<GS1=TTC1; B2<GS2<TTC2 • Efficiency: B0=GS0=TTC0; B=GS<TTC • Stability: GS0>TTC0, GS0=B0, B0=TTC0; GS1>TTC1=B1; B2=GS2=TTC2 • Across informational scenarios: • Truthtelling: B0>B1=B2; GS0>GS1=GS2; TTC0>TTC1, TTC0=TTC2, TTC1=TTC2 • Efficiency: B0>B2=B1; GS0>GS1, GS0=GS2, GS1=GS2; TTC0=TTC1=TTC2 • Stability: Info0=Info1=Info2

  9. Summarizing Therefore, we conclude that • information plays an important role in decision making, and • the use of the TTC mechanism in practice would be more desirable than of the others.

More Related