Efficiency and Application Fees in School Choice
Résumé
This paper examines the impact of application fees on student strategies within the deferred acceptance mechanism. We demonstrate that these fees can lead to Pareto-efficient allocations. However, they may also inhibit the existence of Nash equilibria that would result in assignments Pareto-dominating the student-optimal stable assignment. This issue always arises when application fees are positive for all students at a given school.
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