  Recent literature shows that dynamic matching mechanisms may outperform the
standard mechanisms to deliver desirable results. We highlight an
under-explored design dimension, the time constraints that students face under
such a dynamic mechanism. First, we theoretically explore the effect of time
constraints and show that the outcome can be worse than the outcome produced by
the student-proposing deferred acceptance mechanism. Second, we present
evidence from the Inner Mongolian university admissions that time constraints
can prevent dynamic mechanisms from achieving stable outcomes, creating losers
and winners among students.
