Reply to The downside of the DC school lottery

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The system the OP is describing is (I think) pretty close to what DC used to do when each school ran its own lottery.  it was a mess.  The biggest issue from an economics point of view is that it led to a situation where there could have been a lot of mutually beneficial trades -- which means it was inefficient at allocating a scarce resource.  For example under the old system it was entirely possible for the following scenario to take place:

KidA gets into MV and has a bad waitlist number for IT, his parents prefer IT

KidB gets into IT and has a bad waitlist number for MV, his parents prefer MV

Under the new system, that won't happen because the parents will rank their choices and if KidA has a good number, he will rank IT first and get in there.  KidB would get into MV with a good number.  [/quote]

Ding ding ding ding! This is the correct answer. All the rest of you are wrong. OP, you’d need to argue against this suboptimal outcome. You can’t. You lose.

All the rest of you are also wrong.[/quote]

No, you are wrong.  The DC Lottery implementation already requires gaming because only 12 options are listed rather than every option.  Also, the "game" is repeated with high positive serial correlation whereas the DC Lottery implementation and associated proofs of efficiency assume only a single "game".  And many folks have pointed out that defining efficiency with respect to a single set of ordinal preferences given by parents with limited time and bounded and uneven access to information means that this particular view of evaluating the process is dubious.  But hey, abstract economic thought is always perfect, right?[/quote]

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