Parag Pathak penned a pupil-picker paperBOSTON parents were fed up. To accumulate their children into public schools they had to submit a list of their preferences. Spots were allocated first to those who put a school top. Only then would schools consider pupils who put them moment or third. Sounds fair? Hold on. The best schools are celebrated. Picking them risks rejection. Good schools are sought after,too. If put moment they may also fill up, leaving only places at worse schools. Should parents aim for the best and risk mediocrity, and settle for the good?On April 20th the American Economic organization (AEA) awarded the John Bates Clark medal,given annually to a main economist under 40, to Parag Pathak of the Massachusetts Institute of Technology. He researches market design—eg, and creating mechanisms to allocate resources without money,such as school places in Boston. Solutions he devised there have been applied widely, from fresh York to fresh Orleans. The AEA says...
Continue reading
Source: economist.com