School Choice and Information An Experimental Study on Matching Mechanisms

We present an experimental study where we analyze three well- known matching mechanisms - the Boston, the Gale-Shapley, and the Top Trading Cycles mechanisms - in three different informational set- tings. Our experimental results are consistent with the theory, sug- gesting that the TTC mechanism outperforms both the Boston and the Gale-Shapley mechanisms in terms of efficiency and it is as suc- cessful as the Gale-Shapley mechanism regarding the proportion of truthful preference revelation, whereas manipulation is stronger un- der the Boston mechanism. In addition, even though agents are much more likely to revert to truthtelling in lack of information about the others' payooffs - ignorance may be beneficial in this context - , the TTC mechanism results less sensitive to the amount of information that participants hold. These results therefore suggest that the use of the TTC mechanism in practice is more desirable than of the others.

College admissions and the role of information : an experimental study

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

School choice and information : An experimental study on matching mechanisms

We present an experimental study where we analyze three well-known matching mechanisms—the Boston, the Gale–Shapley, and the Top Trading Cycles mechanisms—in different informational settings. Our experimental results are consistent with the theory, suggesting that the TTC mechanism outperforms both the Boston and the Gale–Shapley mechanisms in terms of efficiency and it is slightly more successful than the Gale–Shapley mechanism regarding the proportion of truthful preference revelation, whereas ma nipulation is stronger under the Boston mechanism. In addition, even though agents are much more likely to revert to truth-telling in lack of information about the others’ payoffs—ignorance may be beneficial in this context—the TTC mechanism results less sensitive to the amount of information that participants hold. These results therefore suggest that the use of the TTC mechanism in practice is more desirable than of the others..info:eu-repo/semantics/publishedVersio

Robbanóanyag-kereső kutyák kiképzése TATP, HMTD felderítésére pszeudoszagminták alkalmazásával = Training of Explosive Detection Dogs to Detect TATP and HMTD Using Pseudo Scent Samples

A robbanóanyagok felderítésének egyik leghatékonyabb eszköze a jól képzett kutya. Kiképzésük és alkalmazásuk terén a házi készítésű primer robbanóanyagok elterjedése új típusú kihívás elé állítja a szakállományt. Az alkalmazkodás a folyamatosan változó körülményekhez a sikeres alkalmazás kulcsa, ezért meg kell vizsgálni és értékelni kell a rendelkezésre álló megoldásokat. Ezek egyike a pszeudoszagminta alkalmazása, amelynek vannak előnyei és hátrányai. A szerző célja, hogy áttekintse az eddig megtett utat, amelynek végén a robbanóanyag-kereső kutyák alkalmasak lesznek a TATP és HMTD keresésére és felismerésére. = One of the most effective tools in explosive detection is the use of well trained canines. The training and employment of these dogs are facing a new challenge by the spreading of home-made primer explosives. Being adaptive to the changing tactical environment is the key of success, therefore, it is essential to examine and evaluate the possible solutions. One of those is the use of pseudo scents, which obviously has pros and cons. The goal of the author is to provide a brief overlook what is done so far to have explosive detection dogs capable of searching and recognising TATP and HMTD

Would depositors like to show others that they do not withdraw? Theory and experiment

There is an asymmetry regarding what previous decisions depositors may observe when choosing whether to withdraw or keep the money deposited: it is more likely that withdrawals are observed. We study how decision-making changes if depositors are able to make their decision to keep their funds in the bank visible to subsequent depositors at a cost. We show theoretically in a Diamond-Dybvig setup that without this signaling option multiple equilibria are possible, while signaling makes the no-run outcome the unique equilibrium. We test if the theoretical predicitions hold in a lab experiment. We find that indeed when signaling is available, bank runs are less likely to arise and signaling is extensively used

Decentralized matching markets with(out) frictions : a laboratory experiment

In a series of laboratory experiments, we explore the impact of different market features (the level of information, search costs, and the level of commitment) on agents’ behaviour and on the outcome of decentralized matching markets. In our experiments, subjects on each side of the market actively search for a partner, make proposals, and are free to accept or reject any proposal received at any time throughout the game. Our results suggest that a low information level boosts market activity but does not affect stability or efficiency of the final outcome, unless coupled with search costs. Search costs have a significant negative impact on market activity, and on both stability and efficiency. Finally, commitment harms stability slightly but acts as a disciplinary device to market activity and is associated with higher efficiency levels of the final outcome.info:eu-repo/semantics/publishedVersio

Would depositors pay to show that they do not withdraw? Theory and experiment

In a Diamond–Dybvig type model of fnancial intermediation, we allow depositors to announce at a positive cost to subsequent depositors that they keep their funds deposited in the bank. Theoretically, the mere availability of public announcements (and not its use) ensures that no bank run is the unique equilibrium outcome. Multiple equilibria—including bank run—exist without such public announcements. We test the theoretical results in the lab and fnd a widespread use of announcements, which we interpret as an attempt to coordinate on the no bank run outcome. Withdrawal rates in general are lower in information sets that contain announcement

Decentralized matching markets with(out) frictions : a laboratory experiment

In a series of laboratory experiments, we explore the impact of different market features (the level of information, search costs, and the level of commitment) on agents’ behavior and on the outcome of decentralized matching markets. In our experiments, subjects on each side of the market actively search for a partner, make proposals, and are free to accept or reject any proposal received at any time throughout the game. Our results suggest that a low information level does not affect the stability or the efficiency of the final outcome, although it boosts market activity, unless coupled with search costs. Search costs have a significant negative impact on stability and on market activity. Finally, commitment harms stability slightly but acts as a disciplinary device to market activity and is associated with higher efficiency levels of the final outcome.info:eu-repo/semantics/publishedVersio

Does payoff equity facilitate coordination? : a test of schelling’s conjecture

Starting from Schelling (1960), several game theorists have conjectured that payoff equity might facilitate coordination in normal-form games with multiple equilibria ‒the more equitable equilibrium might be selected either because fairness makes it focal or because many individuals dislike payoff inequities, as abundant experimental evidence suggests. In this line, we propose a selection principle called Equity (EQ), which selects the equilibrium in pure strategies minimizing the difference between the highest and smallest payoff, if only one such equilibrium exists. Using a within-subjects experimental design, furthermore, we study the relative performance of the equity principle in six simple 2x2 coordination games. Overall, we find that Equity explains individual behavior better than a large range of alternative theories, including theories of bounded rationality and several other equilibrium selection principles. Further, a classification analysis suggests the existence of two main groups of players: (i) players who tend to play as Equity predicts, and (ii) a miscellaneous group of players who either go for the risk dominant equilibrium or act in a boundedly rational manner. This heterogeneity seems to be behind most of the coordination failures that we observe