Information acquisition and provision in school choice: An experimental study

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dc.citation.articleNumber105345en_US
dc.citation.journalTitleJournal of Economic Theoryen_US
dc.citation.volumeNumber197en_US
dc.contributor.authorChen, Yanen_US
dc.contributor.authorHe, YingHuaen_US
dc.date.accessioned2021-10-06T14:16:25Zen_US
dc.date.available2021-10-06T14:16:25Zen_US
dc.date.issued2021en_US
dc.description.abstractWhen participating in school choice, students often spend substantial effort acquiring information about schools. We investigate how two popular mechanisms incentivize students' information acquisition in the laboratory. While students' willingness to pay for information is significantly greater under the Immediate than the Deferred Acceptance mechanism, most students over-invest in information acquisition, especially when they are more curious or believe that others invest more. Additionally, some students never invest in information acquisition but benefit equally from information provision. Both free provision and costly acquisition of information on students' own preferences increase their payoffs and allocative efficiency, whereas provision of information that helps students better assessing admission chances reduces wasteful investments. Our results also suggest that agents' information preferences, such as curiosity, can play an important role in market design theory and policy.en_US
dc.identifier.citationChen, Yan and He, YingHua. "Information acquisition and provision in school choice: An experimental study." <i>Journal of Economic Theory,</i> 197, (2021) Elsevier: https://doi.org/10.1016/j.jet.2021.105345.en_US
dc.identifier.digital1-s2-0-S0022053121001629-mainen_US
dc.identifier.doihttps://doi.org/10.1016/j.jet.2021.105345en_US
dc.identifier.urihttps://hdl.handle.net/1911/111492en_US
dc.language.isoengen_US
dc.publisherElsevieren_US
dc.rightsThis is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).en_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/).en_US
dc.titleInformation acquisition and provision in school choice: An experimental studyen_US
dc.typeJournal articleen_US
dc.type.dcmiTexten_US
dc.type.publicationpublisher versionen_US
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