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Why Do Popular Mechanisms Lack Efficiency in Random Environments?
Kesten, Onur - 2009
We consider the problem of randomly assigning n indivisible objects to n agents. Recent research introduced a promising mechanism, the probabilistic serial that has superior efficiency properties than the most common real-life mechanism random priority. On the other hand, mechanisms based on...
Persistent link: https://www.econbiz.de/10009440996
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On-Campus Housing: Theory vs. Experiment
Guillen, Pablo; Kesten, Onur - 2008
-Shapley mechanism of two-sided matching theory. Motivated from the increasing popularity and success of the Gale-Shapley mechanism in a … number of markets, we next experimentally compare the performances of the MIT mechanism with that of the leading theory … mechanism Top Trading Cycles. Contrary to theory, the MIT mechanism performs better in terms of efficiency and participation …
Persistent link: https://www.econbiz.de/10009441039
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School Choice with Consent
Kesten, Onur - 2010
An increasingly popular practice for student assignment to public schools in the U.S. is the use of school choice systems. The celebrated Gale-Shapley student-optimal stable mechanism (SOSM) has recently replaced two de…ficient student assignment mechanisms that were in use in New York City...
Persistent link: https://www.econbiz.de/10009441301