Experimental economics originated as examination of the behavior of aggregate phenomena, especially markets, populated by human participants motivated by their desire to attain their goals. The past two decades have brought two newer trends. One is a gradual but steady shift in the focus of the...

Many centralized college admissions markets allocate seats to students based on their performance on a standardized exam. A single exam's measurement error can cause the exam-based priorities to deviate from colleges' aptitude-based preferences. Previous literature proposes correcting such an...