Graduate admission with financial support
Journal of Mathematical Economics, 2020, vol. 87, issue C, 114-127
We formulate a graduate admission problem, which features different financial support options, in a matching with contracts setting. We introduce an algorithm, called “Minimum-Need Adjusted Cumulative Offer Process” (MCOP). Under certain mild assumptions on students’ preferences, MCOP is stable, fair, strategy-proof, and respects improvements. Moreover, it limitedly respects departments’ minimum number of teaching and research assistant (TA/RA) needs in the sense that no other stable mechanism honors those needs more than MCOP. It is also efficient within the class of stable mechanisms that limitedly respect the TA/RA needs. Lastly, we offer an axiomatic characterization: A mechanism is stable and strategy-proof, and limitedly respects the TA/RA needs if and only if it is MCOP.
Keywords: Matching; Graduate admission; Financial support; Stability; Strategy-proofness; Respecting improvement (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:87:y:2020:i:c:p:114-127
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