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11.10. Micro Theory Seminar: Marek Pycia

Micro Theory Seminar with Marek Pycia (University of Zurich)

Event details
What
  • Micro Theory Seminar
When Oct 11, 2017
from 16:30 to 17:45
Where faculty room
Contact Name Stephan Lauermann
Contact Email
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Topic

Invariance and Matching Market Outcomes

 

Abstract

Many empirical papers on school choice report standard statistics of student outcomes that are the same for a variety of different mechanisms. This paper explains this puzzle as being driven by two factors: market size and the invariance properties of the statistics for which the regularity has been observed. In large markets, strategy-proof and efficient mechanisms lead to asymptotically the same realized outcome statistics. Furthermore, many standard mechanisms—such as serial dictatorship or top trading cycles—lead to the same expected outcome-statistics already in finite markets under the additional assumption that the distributions of preferences are exchangeable.



 




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