School Choice in a Market Environment: Individual versus Social Expectations

<div>The fraction of schools with students for different values of <span class="nowrap"><svg height="10.212405pt" id="M121" style="vertical-align:-3.429431pt" version="1.1" viewbox="-0.049816 -6.782974 12.704358 10.212405" width="12.704358pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M570 304C570 398 525 448 414 448C385 448 343 445 312 434L329 511L321 518C297 504 262 482 244 460L233 411C195 397 159 381 128 358L135 332C160 347 189 360 224 373L111 -147C97 -210 84 -218 17 -231L13 -257L254 -247L259 -218L233 -216C183 -212 177 -202 189 -142L218 -1C238 -10 266 -12 283 -12C351 3 429 48 483 105C543 168 570 242 570 304ZM482 289C482 161 380 33 304 33C278 33 248 51 233 69L303 396C326 400 352 403 369 403C428 403 482 380 482 289Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.412,3.132)"><path d="M490 97L476 124C442 96 405 70 398 70C392 70 390 78 396 114C419 243 448 379 463 432L457 436C446 436 431 439 418 442C393 447 368 451 343 451C281 451 204 418 155 381C74 320 24 206 24 107C24 23 59 -12 88 -12C118 -12 155 5 191 34C236 70 290 122 328 177H330L312 84C296 0 311 -12 331 -12C355 -12 425 24 490 97ZM374 387C371 367 360 299 347 264C323 202 187 53 142 53C128 53 113 73 113 120C113 224 157 332 221 380C241 395 274 403 303 403C330 403 360 395 374 387Z"></path></g></svg>,</span> under the individual expectations model. The segmented line corresponds to the fit with <svg height="14.526291pt" id="M122" style="vertical-align:-2.268106pt" version="1.1" viewbox="-0.049816 -12.258185 85.913496 14.526291" width="85.913496pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M300 -147C201 -63 143 98 143 270S200 602 300 686L282 710C136 610 70 450 70 271V270C70 89 136 -72 282 -170L300 -147Z"></path></g><g transform="matrix(.013,0,0,-0.013,4.515,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.684,0)"><path d="M535 230V280H323V490H265V280H52V230H265V-3H323V230H535Z"></path></g><g transform="matrix(.013,0,0,-0.013,24.249,0)"><path d="M391 364C391 409 353 448 295 448C249 448 198 426 152 393C65 331 23 225 23 139C23 14 96 -12 146 -12C198 -12 280 9 367 101L351 124C300 78 242 48 194 48C129 48 109 107 109 162V191C208 213 391 266 391 364ZM313 350C313 305 268 261 113 223C132 334 187 381 217 398C227 404 244 405 261 405C290 405 313 385 313 350Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,29.651,-5.741)"><path d="M556 236V289H56V236H556Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,35.232,-5.741)"><path d="M563 583C563 664 501 710 433 710C381 710 334 692 285 648C212 582 178 506 149 350L74 -56C49 -190 36 -222 24 -226L30 -257C52 -256 95 -247 121 -229C131 -222 134 -206 165 -21L219 303C254 510 296 665 397 665C447 665 481 626 481 572C481 512 446 457 390 420C367 405 351 400 323 397L302 349C398 338 466 285 466 197C466 117 419 45 306 45C268 45 224 59 198 74L186 50C197 20 228 -14 274 -14C318 -14 359 3 401 26C478 68 554 144 554 225C554 322 493 367 412 396C490 446 563 500 563 583Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,40.594,-5.741)"><path d="M309 -142C211 -61 151 99 151 271S210 601 309 683L288 710C141 611 75 451 75 272V271C75 90 141 -72 288 -169L309 -142Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,43.864,-5.741)"><path d="M573 302C573 402 527 451 414 451C386 451 343 446 313 437L330 513L320 522C295 508 261 484 243 463L230 415C194 400 159 383 126 359L131 330C159 344 187 357 222 368L109 -147C96 -204 80 -214 18 -223L13 -255L256 -244L259 -212L236 -210C184 -205 180 -195 191 -141L219 -1C240 -10 268 -12 284 -12C352 4 431 48 484 104C543 166 573 240 573 302ZM481 290C481 165 381 37 305 37C280 37 249 56 235 71L302 395C328 399 353 402 372 402C427 402 481 378 481 290Z"></path></g><g transform="matrix(.0065,0,0,-0.0065,49.088,-3.641)"><path d="M496 96L481 126C448 100 409 74 404 74C396 74 395 81 402 123C424 247 452 381 469 435L459 439C448 439 433 442 420 445C395 450 369 454 343 454C280 454 202 421 158 387C76 324 25 207 25 110C25 25 60 -12 90 -12C123 -12 159 4 197 34C241 69 294 126 328 171H330L314 86C298 0 313 -12 337 -12S429 24 496 96ZM375 388C374 372 365 306 350 267C332 211 193 56 146 56C133 56 117 74 117 123C117 224 161 332 224 382C244 397 276 404 304 404S362 397 375 388Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,52.986,-5.741)"><path d="M556 236V289H56V236H556Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,58.567,-5.741)"><path d="M573 302C573 402 527 451 414 451C386 451 343 446 313 437L330 513L320 522C295 508 261 484 243 463L230 415C194 400 159 383 126 359L131 330C159 344 187 357 222 368L109 -147C96 -204 80 -214 18 -223L13 -255L256 -244L259 -212L236 -210C184 -205 180 -195 191 -141L219 -1C240 -10 268 -12 284 -12C352 4 431 48 484 104C543 166 573 240 573 302ZM481 290C481 165 381 37 305 37C280 37 249 56 235 71L302 395C328 399 353 402 372 402C427 402 481 378 481 290Z"></path></g><g transform="matrix(.0065,0,0,-0.0065,63.791,-3.641)"><path d="M391 403C391 426 353 454 306 454C250 454 180 419 133 378C71 324 25 229 25 151C25 44 73 -12 148 -12C214 -12 303 36 368 102L350 133C324 102 250 54 194 54C151 54 114 82 114 168C114 232 133 291 155 330C170 356 197 399 245 399C278 399 305 383 328 353C335 344 348 342 361 349C383 361 391 384 391 403Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,67.004,-5.741)"><path d="M283 271C283 451 220 610 70 710L48 683C146 603 207 443 207 271S149 -59 48 -142L70 -169C220 -67 283 90 283 271Z"></path></g><g transform="matrix(.013,0,0,-0.013,70.772,0)"><path d="M275 270C275 450 212 609 64 710L45 686C145 604 203 442 203 270S147 -63 45 -147L64 -170C213 -68 275 89 275 270Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,75.287,-5.741)"><path d="M556 236V289H56V236H556Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,80.867,-5.741)"><path d="M389 0V32C297 38 291 46 291 118V635C234 613 175 595 109 583V556L161 554C203 552 207 547 207 497V118C207 46 201 38 110 32V0H389Z"></path></g></svg> with <svg height="12.717766pt" id="M123" style="vertical-align:-3.429431pt" version="1.1" viewbox="-0.049816 -9.288335 38.106156 12.717766" width="38.106156pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M558 587C558 666 497 712 432 712C379 712 330 691 284 650C212 586 178 508 148 348L71 -65C49 -185 35 -229 23 -235L27 -261C49 -259 101 -251 124 -224C131 -216 138 -178 159 -24C171 66 197 200 227 356C264 550 295 668 393 668C443 668 479 632 479 575C479 516 446 458 383 418C361 404 344 398 318 397L296 350C395 338 460 281 460 192C460 110 411 40 300 40C258 40 215 55 192 69L181 51C191 18 222 -16 266 -16C308 -16 351 1 397 26C471 67 545 142 545 221C545 315 486 365 401 395C469 437 558 498 558 587Z"></path></g><g transform="matrix(.013,0,0,-0.013,11.213,0)"><path d="M535 323V373H52V323H535ZM535 138V188H52V138H535Z"></path></g><g transform="matrix(.013,0,0,-0.013,22.505,0)"><path d="M249 635C141 635 70 555 70 471C70 401 114 353 179 316C143 294 106 267 90 252C68 231 45 202 45 157C45 50 130 -12 237 -12C322 -12 435 52 435 169C435 256 372 304 303 343C349 374 375 398 383 407C401 429 411 458 411 487C411 569 344 635 249 635ZM238 603C285 603 337 567 337 482C337 422 310 385 276 358C205 393 145 426 145 500C145 552 179 603 238 603ZM248 20C183 20 125 70 125 163C125 218 158 268 206 300C284 261 355 217 355 143C355 66 308 20 248 20Z"></path></g><g transform="matrix(.013,0,0,-0.013,28.768,0)"><path d="M113 -12C146 -12 170 11 170 46C170 78 146 103 114 103S58 78 58 46C58 11 82 -12 113 -12Z"></path></g><g transform="matrix(.013,0,0,-0.013,31.743,0)"><path d="M244 635C114 635 38 519 38 422C38 317 111 240 217 240C236 240 255 244 277 256L345 292C311 140 203 39 59 15L64 -15C89 -15 150 -5 204 17C339 72 440 202 440 386C440 521 368 635 244 635ZM228 602C326 602 352 479 352 390C352 370 351 347 348 324C327 308 293 296 258 296C174 296 124 369 124 458C124 517 152 602 228 602Z"></path></g></svg> and <span class="nowrap"><svg height="11.77825pt" id="M124" style="vertical-align:-3.429431pt" version="1.1" viewbox="-0.049816 -8.348819 48.45217 11.77825" width="48.45217pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M570 304C570 398 525 448 414 448C385 448 343 445 312 434L329 511L321 518C297 504 262 482 244 460L233 411C195 397 159 381 128 358L135 332C160 347 189 360 224 373L111 -147C97 -210 84 -218 17 -231L13 -257L254 -247L259 -218L233 -216C183 -212 177 -202 189 -142L218 -1C238 -10 266 -12 283 -12C351 3 429 48 483 105C543 168 570 242 570 304ZM482 289C482 161 380 33 304 33C278 33 248 51 233 69L303 396C326 400 352 403 369 403C428 403 482 380 482 289Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.412,3.132)"><path d="M387 400C387 425 348 451 303 451C247 451 176 414 132 376C69 322 24 228 24 148C24 43 74 -12 147 -12C211 -12 301 33 363 103L346 128C319 99 249 51 193 51C148 51 112 84 112 165C112 230 130 287 154 330C170 359 199 400 243 400C277 400 304 383 326 354C333 345 343 343 354 348C378 360 387 382 387 400Z"></path></g><g transform="matrix(.013,0,0,-0.013,15.296,0)"><path d="M535 323V373H52V323H535ZM535 138V188H52V138H535Z"></path></g><g transform="matrix(.013,0,0,-0.013,26.587,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g><g transform="matrix(.013,0,0,-0.013,32.851,0)"><path d="M113 -12C146 -12 170 11 170 46C170 78 146 103 114 103S58 78 58 46C58 11 82 -12 113 -12Z"></path></g><g transform="matrix(.013,0,0,-0.013,35.826,0)"><path d="M456 178V225H360V632H320C217 496 115 347 20 206V178H280V106C280 40 276 34 189 27V0H445V27C364 34 360 39 360 106V178H456ZM280 225H82C149 335 214 431 278 520H280V225Z"></path></g><g transform="matrix(.013,0,0,-0.013,42.089,0)"><path d="M153 550H386L412 615L406 623H120L82 318C104 327 142 338 184 338C294 338 347 275 347 187C347 112 305 39 221 39C160 39 119 71 97 89C88 97 80 96 71 90C59 80 50 67 49 57C48 45 52 36 66 23C80 9 123 -12 169 -12C221 -11 288 15 342 59C403 109 431 165 431 225C431 308 366 395 238 395C212 395 165 379 127 364L153 550Z"></path></g></svg>.</span></div>

Complexity

fig1

Figure 1

Figure 1: School Choice in a Market Environment: Individual versus Social Expectations 