Undergraduate Course Allocation through Competitive Markets
Research Seminars: Virtual Market Design SeminarThe paper presented in this Virtual Market Design Seminar considers the problem of allocating courses to students in post-secondary institutions. The authors propose a mechanism that assigns course seats based on student preferences and respects course priorities. This mechanism uses fake money and competitive equlibrium to allocate courses without transfers and has desirable theoretical properties in terms of stability, efficiency, fairness, and strategy-proofness. In simulations drawing from real-world university data, they demonstrate that its outcomes improve student satisfaction and allocation fairness over the outcomes of several celebrated mechanisms.
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