06 August, 2011

auctions in course allocation

Apparently some universities use an auction mechanism for allocation of places in courses, as detailed for example in page three of this memo from NYU.

Very briefly describing this in quotes:
  • Students will be allotted bidding points
  • After an auction is run, students admitted to a class will be charged a “clearing price” in points equal to the highest bid from a student not admitted to the class at that auction.

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