In this paper, we investigate matching problems where priorities and preferences are misaligned. In the case of centralized Chinese college admissions, students are matched based on their test scores in standardized tests, a noisy realization of their aptitudes due to measurement errors. We show...

The reform of fiscal relations between different levels of geovernment is crucial to the success of China's current structural transformation to a socialist market economy. The reform will profoundly affect macroeconomic stability, growth prospects , and the effectiveness of providing public...